Market Analysis: Global Stainless Steel Market
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.
Market Definition: Global Stainless Steel Market
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.
- 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
- 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
Segmentation: Global Stainless Steel Market
- Hot bars/wire rods
- Semis long
- Cold bars/wire rods
- Cold-rolled flat
- Semis flat
- Hot coils
- Hot plate and sheet
- Duplex, 400 series
- 300 series
- 200 series
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
Middle East and Africa
Key Developments in the Market:
- In December 2018, Synalloy Corporation a parent company of Bristol metals has signed an agreement to acquire all the assets of American Stainless Turbing, Inc. The primary focus of this acquisition is bring all the diverse stainless steel and alloy pipe and tubing capabilities of Bristol metals with the high end ornamental welded stainless steel tube products
- In August 2018, Jindal Stainless has plan to set up a long steel unit in Haryana so that they can ramp up the cold-rolling capacity of its Jaipur facility, in Odisha, by nearly 2 lakh tonnes through brownfield expansion. It will help them to increase their revenue and strengthen their presence in the steel market.
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.
Key Market Competitors:
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.
Research Methodology: Global Stainless Steel Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved