Stainless steel round bars comprise of ideal properties such as magnetism, sustainability, toughness, fire resistance, thermal and electrical conductivity, fire resistance, and high corrosion resistance, among others. There is a huge demand for stainless steel round bars owing to the presence of these excellent properties, thereby fuelling the growth of Stainless steel round bars market. However, the plummeting cost of nickel may adversely impact the growth of global stainless steel round bar market.
The global stainless steel round bar market is anticipated to garner maximum revenue in the forecast period. Factors such as increase in vehicle production owing to the rapid growth in automobile sector, high utilization rate in manufacturing of various products such as food processing equipment, machine and automotive shafts, dairy equipment, industrial nozzles & valves, sanitary fittings & faucets, anchor bolts, reinforcing bars, and various other hardware products is expected to fuel the growth of this market.
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The major companies that provide stainless steel round bars include
• Dongbei Special Steel Group Co. Ltd.
• ThyssenKrupp Steel Europe AG
• ArcelorMittal
• CRS Holdings Inc.
• Walsin Lihwa Corporation
• Valbruna Stainless Inc.
• Crucible Industries LLC
• Garelick Steel Company
• Allegheny Technologies Incorporated
• J. H. Stainless
• Shri Bhagavati Bright Bars Limited
• Tsingshan Holding Group Co. Ltd.
The global stainless steel round bar market can be classified based on type, application, heat treatment and region. On the basis of type, the global market is classified into hot-rolled and cold-rolled. Depending upon application, the global stainless steel round bar is segmented into automobile, heavy engineering, defense and aerospace, and others. As per heat treatment, the global stainless steel round bar market is divided into hardening, tempering, annealing, normalizing, stress relieving, and quenching.
Based on regions, the global stainless steel round bars market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The Asia-Pacific region is anticipated to command the maximum market share and would lead the stainless steel round bars market during the forecast period. Factors such as rising human population, large infrastructure expansion, and the increased expending of governments in favor of stainless steel round bars is expected to fuel the growth of stainless steel round bars market during the forecast period. In Asia-Pacific regional market, Japan, India, and China are the top countries fuelling the market development in this region.
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