The rise in infrastructural development is also projected to bolster the growth of the market.
About 72 percent of the global stainless steel demand during 2017 was from Asia (27.04 MMT).
With an unfavorable global circumstance, the export-reliant countries seem at risk.
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Note: In August 2020, MetalMiner modified the stainless steel price chart above to model the LME nickel price against the MetalMiner Monthly Outlook forecast track record.
For this study, Grand View Research has segmented the stainless steel market report based on the grade, product, application, and region: Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2030), Mechanical Engineering & Heavy Industries, Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2017 - 2030).
It is used in railings, roofing, lifts, staircases, swimming pool shades, canopies, and atriums among others.
MetalMiner Insights includes a range of stainless steel prices for grades such as: 201, 301, 304, 316, 321, 430, 439, 409, 441 and 444.
Market
The report further covers the price trend and forecast across different regions such as the U.S., Europe, and Asia.
The market in Europe witnessed recovery because of the commencement of industrial operations in 2021, after the lockdown.
This is due to the fact that the carbon fibers are lightweight, have high strength bearing capacities and load-bearing capacities. Furthermore, with increasing public infrastructure development, China and India are poised to lead the stainless steel market growth.
Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security. The risk analysis mentioned in the report gives a detailed analysis of the various risks associated with the stainless steel market ranging from fluctuations in supplier pricing, overpaying, etc.
The global stainless steel market is redefined by the impacts of this public-health crisis, as a few distributors are either turning off or decreasing their production due to lack of stainless steel demand in the downstream industry. Building & construction is one of the important applications of stainless steel.
This was driven by robust growth due to solid infrastructure and property sectors, The market size in the APAC region was at 27.04 MMT in 2017 and is expected to grow at 3 percent between 2017 and 2019, Growth in the consumption of chemical/petrochemical and energy, consumer goods and medical and automotive and heavy transport mainly contributed to the increase in consumption in APAC, Growth of stainless steel industry in America was mainly impacted by the continuation of strong dollar and weak-exporting demand for the year 2017, In the EU, stainless steel consumption was valued at 7.3 MMT in 2017, an increase of 4.4 percent from 6.99 MMT in 2016. The construction industry is one of the major end-users of stainless steel. and
Moreover, the growth in the automotive industry along with the growing demand for energy and water will likely maintain the demand for stainless steel in the near future.
Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies.
The amplifying importance of lightweight automobiles to curb fuel usage will increase the demand for lightweight materials. For instance, as per the International Stainless Steel Forum (ISSF), SS melt shop production increased by around 11.0% on a y-o-y basis, through the first quarter of 2021. Coverage of Data Bridge is not restricted to developed or emerging economies.
Americas growth was hit due to low demands for exports. The key driver of the stainless steel industry is the increasing demand from downstream industries such as agriculture, processing industry, consumer products, and construction industry. Global Stainless Steel Market was valued at USD 104.23 billion in 2021 and is expected to reach USD 166.13 billion by 2029, registering a CAGR of 6.00% during the forecast period of 2022-2029.
Discounted price for multiple reports across domains, 2. Suppliers are also susceptible to commodity price fluctuations, against which they cannot hedge, due to relatively smaller period of contracts, Steel and its products have high logistics costs.
Other than chromium, nitrogen and molybdenum are also added to this alloy. However, there has been rising use of carbon fibers as a substitute for stainless steel in the automotive industry due to its lightweight nature.
According to the International Stainless Steel Forum (ISSF), Indonesia will become one of the world's largest producers of stainless steel. An increasing share of India and ASEAN countries in the demand for SS is likely to contribute to the expansion of the Asia Pacific SS market. We can add as many competitors that you require data about in the format and data style you are looking for.
For instance, in February 2021, Jindal Stainless announced a capex plan for its Odisha stainless steel plant worth Rs. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Beroe, News &
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Furthermore, there has been a decrease in construction activity as well as the closure of some manufacturing plants.
More than 60% of the smaller LF-type rods come from China.
The stage includes the obtainment of market information or related data through various sources and strategies.
Some of the major players operating in the stainless steel market are.
The private and public investments in infrastructure, as well as residential housing, is likely to provide a boost to the stainless steel demand.
Webinars offer cutting-edge market ideas and solutions through virtual Internet forums to its executive clients. The number of mergers and acquisitions (M&A) in the global steel industry rose by 19% to 115 deals in 2015 from 97 deals in 2014. For instance, ArcelorMittal (AM) and Nippon Steel & Sumitomo Metal Corporation (NSSMC) agreed on the fundamental terms and conditions in March 2018 to mutually procure and supervise Essar Steel India Limited (ESIL).
The Baltic Dry Index acts as an indicator of measuring logistic costs of dry bulk category, such as steel.
Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.
Moreover, the growing population will also increase the use of domestic appliances, cookware, and cutlery, which will benefit the stainless steel market during the forecast period.
Beroe has been a trusted source of intelligence for more than 15 years and presently partners with 10,000 companies worldwide, including 400 of the Fortune 500 companies. Which segment accounted for the largest stainless steel market share? Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service, By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research
China's production of crude stainless steel totaled 26.7 million tons in 2018, higher by 933,000 tons or 3.6% from the previous year.
We deliver intelligence, data, and insights that enable companies to make smarter sourcing decisions leading to lower cost, reduced risk, and greater profits. Insights shows how to buy, when to buy and what to pay.
Increasing application in pre-engineered buildings is likely to drive market growth during the coming years. What are the factors driving the stainless steel market.
Who are the major players operating in the market? Privacy Policy The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. The key players operating in the stainless steel market include Acerinox S.A., Aperam Stainless, ArcelorMittal, Baosteel Group, Jindal Stainless, Nippon Steel Corporation, Outokumpu, POSCO, ThyssenKrupp Stainless GmbH and Yieh United Steel Corp. b. While companies have reduced short-term revenue targets, the stainless steel market outlook for 2022-2028 remains bullish. It includes heavy fund allocation for repair and renovation of bridges, highways, EV charging facilities, airports, water infrastructure, communication networks, high-speed Internet, clean energy & environment, and carbon reduction. The stainless steel market is segmented on the basis of application into automotive and transportation, building and construction, consumer goods, heavy industries, metal products and other applications.
The market growth over this region is attributed to the growth and expansion of automobile sector within the region. For instance, as per the data released by EUROCONSTRUCT, construction output in European countries witnessed a decline of 5.1% in 2020 from the previous year.
Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. It will continue to be an excellent substitute for carbon steel, with its low cost poised to boost stainless steel market growth. This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges.
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The segment is projected to grow owing to increasing demand for the washing machine & fridge parts, sinks, utensils, kitchen parts, and many more.
LME nickel price is down in February, amid continued pressure in the base metals caused by the risk-off mood outside China. Around 226,000 tons of electrodes are consumed every year in the EU.