Global Stainless Steel Market set to grow $143.03 billion by 2026, registering a CAGR of 5.60% in the forecast by 2026


Posted October 10, 2019 by dbmrOnkar08

Global Stainless Steel Market is expected to rise from its initial estimated value of USD 92.50 billion in 2018 to an estimated value of USD 143.03 billion by 2026, registering a CAGR of 5.60% in the forecast period of 2019-2026.

 
 
Definition:
Stainless Steel is an alloy of iron with a minimum of 10.5% chromium. This helps to produce a thin layer of oxide on the surface of the steel which helps in preventing corrosion on the surface. Stainless steel contains varying amounts of Carbon, Silicon and Manganese. It enhanced the formability and corrosion resistance.
 
Analysis of Global Stainless Steel Market report:
Global Stainless Steel Market is expected to rise from its initial estimated value of USD 92.50 billion in 2018 to an estimated value of USD 143.03 billion by 2026, registering a CAGR of 5.60% in the forecast period of 2019-2026. This rise in market value can be attributed to the increase in the investment in building and infrastructure and in the construction industry.
 
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Market Drivers:
·        Properties of stainless steel such as tensile strength, corrosion resistance, and aesthetic appearance are expected to be a key driver for the market growth.
·        Increasing usage of aluminium and carbon fibres is a key driver for the market growth
 
Market Restraints:
·        Rising use of carbon fibre as a replacement to stainless steel in automobile industry providing arrears such as high strength and low weight is hampering the market growth
 
Leading Key players profiled in this report are:
Few of the major competitors currently working in stainless steel market are Outokumpu, ArcelorMittal, NIPPON STEEL CORPORATION, Schmolz+Bickenbach AG, Sandmeyer Steel Company, JSCMS, Acerinox S.A., Mirach Metallurgy Co., Limited, Aperam, thyssenkrupp Stainless GmbH, Sandvik AB, Viraj Profiles Limited, POSCO, Synalloy Corporation, RTI Industries, NIPPON STEEL CORPORATION.
 
Global Stainless Steel Market Segmentation:
By Products
·        Hot bars/wire rods
·        Semis long
·        Cold bars/wire rods
·        Cold-rolled flat
·        Semis flat
·        Hot coils
·        Hot plate and sheet
By Grade
·        Duplex, 400 series
·        300 series
·        200 series
By Geography
·        North America
·        South America
·        Europe
·        Asia-Pacific
 
Company Share Analysis:
The global stainless steel market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of baking ingredients market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
 
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The Global Stainless Steel Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Stainless Steel Market. The industry changing factors for the market segments are explored in this report.  This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.
 
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Tags Global Stainless Steel Market , Global Stainless Steel Market trends , Global Stainless Steel Market overview , Global Stainless Steel Market application
Last Updated October 10, 2019