December 13, 2022 07:33 ET | Source: The Insight Partners The Insight Partners
New York, Dec. 13, 2022 (GLOBE NEWSWIRE) -- -- The Insight Partners published latest research study on Stainless Steel Market to 2028 – Global Analysis and Forecast – by Grade (200 Series, 300 Series, 400 Series, and Others), Product (Hot Bars/ Wire Rods, Semis, Cold Bars/Wire Rods, Cold-Rolled Flat, Hot Coils, and Hot Plate & Sheet), Application (Automotive & Transportation, Building & Construction, Consumer Goods & Other Metal Components, Heavy Industries, and Electrical Appliances), and Geography. The stainless-steel market is largely driven by the rapid growth in automotive and construction industries. Flat Expanded Metal
Download Sample PDF Brochure of Stainless-Steel Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at: https://www.theinsightpartners.com/sample/TIPRE00003779/
Stainless-Steel Market - Strategic Insights
Stainless Steel Market: Competitive Landscape
A few players operating in the global stainless steel market include Acerinox S.A., Aperam S.A, ArcelorMittal S.A, Jindal Stainless Limited, Outokumpu OYJ, Sandmeyer Steel Company, Sandvik AB, Schmolz + Bickenbach Group, Thyssenkrupp AG, and Guangxi Chengdu Group. Players operating in the stainless steel market are focusing on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities and new product launches.
Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00003779/
In 2021, Asia Pacific held the largest share of the global stainless steel market. Rising demands from construction, automotive, consumer goods, and heavy industries have led to the stainless steel market expansion in the region and is expected to continue to grow at a high rate in the future. China is one of the largest producers and consumers of stainless steel in Asia Pacific. The low manufacturing and capital costs in China attracts new investment and better opportunities for stainless steel businesses in the region. China and India are among the biggest construction markets in the world and expected to grow at a rapid rate in future, which, in turn, propels the demand for stainless steel. According to IBEF, the Indian automotive industry is projected to reach approximately US$ 250–280 billion by 2026. The countries from the region are witnessing an upsurge in the middle-class population, as well as growth in urbanization, which provides ample opportunities for the key market players in the stainless steel market. The region is also dominated by the presence of a number of stainless steel manufacturers such as Acerinox S.A., Guangxi Chengde Group, Jindal Stainless Limited, and Sandvik AB.
As stainless steel has proven to exhibit safety combined with performance, efficiency, lightweight and strength, it is highly preferred in the automotive industry. The corrosion resistance property of stainless steel makes it ideal for manufacturing decorative wheel rims. Due to the lightweight property of stainless steel, it has been considered as a primary material in the construction of fuel tanks. Thus, owing to the wide scope of stainless-steel applications, its market portrays notable growth trajectory.
The connecting components made with stainless steel are abundant to every aspect of the automotive manufacturing sector. Flanges, substructures, brackets, tubing, springs, as well as fasteners and panels, are made using stainless steel. Stainless steel is specially used in the production of high-performance cars.
Based on grade, the stainless-steel market is segmented into 200 series, 300 series, 400 series, and others. The stainless-steel market share for the 300 series segment was largest in 2021. The 300 series grade of stainless-steel alloy is capable of maintaining high strength at high temperatures, resist corrosion, and easy maintenance. It finds application in rail car structural components that are usually roll-formed stretched or roll formed to profiles, wiper blade holders, and clips.
Speak to Research Expert: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00003779
Based on application, the stainless steel market is segmented into automotive & transportation, building & construction, consumer goods & other metal components, heavy industries, and electrical appliances. The consumer goods & other metal components segment held the largest market share in 2021. Stainless steel is used in white goods as they are highly resistant to corrosion and can be easily fabricated, as well as known to offer excellent mechanical properties over a wide range of temperatures. Stainless steel has served to be an ideal inert material, due to its ductility, strength, and aesthetic properties, for sinks and hobs, washing machines, dishwashers, and ovens. Stainless steel is resistant to thermal shocks and high temperatures of up to 800°C. It is widely used in modular kitchen setups as they provide aesthetic appearance, resistance against corrosion and high temperatures, and durable.
Increasing demand from the construction industry is driving the stainless steel market growth. With properties such as corrosion resistance, high tensile strength, durability and aesthetic appearance, stainless steel is ideally suited in construction and architectural applications. The high corrosion resistance of stainless steel is due to the presence of chromium-rich oxide film on the steel surface. Due to the durability of stainless steel, construction sites using it are able to retain their original appearance.
Quickly Purchase Premium Copy of Stainless-Steel Market Growth Report (2022-2028) at: https://www.theinsightpartners.com/buy/TIPRE00003779/
Browse Other Related Research Reports from The Insight Partners –
Duplex Stainless Steel Market Forecast to 2028 – Covid-19 Impact and Global Analysis - by Grade (Duplex, Lean duplex, Hyper and super duplex, Others); Product form (Tubes, Pumps and valves, Fittings and flanges, Welding wires, Rebar and mesh, Others); End use industry (Oil and gas industry, Desalination Industry, Chemical industry, Paper and pulp industry, Construction industry, Others) and Geography
Stainless Steel Wire Rods Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Composition (Carbon Steel Wire, Alloy Steel Wire, Stainless Steel Wire); Type (6mm, 8mm, 10mm, Others); Application (Automotive Components, Mechanical Equipment, Port Cranes, Elevators); End-Use Industry (Oil and Gas, Mining, Building and Construction, Marine, Automobile, Others) and Geography
Steel Grating Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Material Type (Stainless Steel Grating, Carbon Steel Grating, and Aluminum Steel Grating), Surface Type (Plain Steel Grating and Serrated Steel Grating), and Application (Stair Treads, Walkways, Platforms, Security Fence, Drainage Covers, Trench Covers, and Others)
Stainless Steel Flatware Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Spoons, Forks, Knives, Serving Utensils, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others)
Stainless Steel Welded Pipes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Automotive, Food Processing, Water Treatment, Oil and Gas, Others) and Geography
Stainless Steel Cable Ties Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Roller Ball, Ladder, Releasable); Surface Finish (Coated, Uncoated); End-User Industry (Electrical and Electronics, Transportation, Oil and Gas, Marine, Chemicals, Mining, Others) and Geography
Carbon Fiber Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Raw Material (PAN , Pitch); End Use Industry (Automotive, Aerospace and Defense, Construction, Sporting Goods, Wind Energy, Others)
Silicon Carbide Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Black Silicon Carbide and Green Silicon Carbide) and End-Use Industry (Automotive, Aerospace and Aviation, Military and Defense, Electronics and Semiconductor, Medical and Healthcare, Steel, and Others)
Metal Injection Molding Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Material (Stainless Steel, Low Alloy Steel, Soft Magnetic Material, and Others) and Industry Vertical (Automotive, Electrical and Electronics, Consumer Goods, Firearms and Defense, Medical and Orthodontics, and Others)
Metal Nanoparticle Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Metal (Platinum, Gold, Silver, Iron, Titanium, and Others) and End-Use Industry (Pharmaceutical and Healthcare, Electrical and Electronics, Chemicals, Personal Care and Cosmetics, and Others)
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please contact us:
Press Release: https://www.theinsightpartners.com/pr/stainless-steel-market
Stainless Steel Wire Mesh For Bird Cages Industry Research: https://www.theinsightpartners.com/categories/chemicals-and-materials