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. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

Stainless steel contains a variety of materials that when the fused result in a power alloy. Stainless steel, an alloy of iron and chromium, and nickel in some cases provide resistance to corrosion of iron. Chromium is responsible for providing this resistance property to the alloy. Chromium secretes a thin layer of oxide that is known as the passive layer. Other than chromium, nitrogen and molybdenum are also added to this alloy. It is an environmentally inert and neutral alloy, which means that it is infinitely recyclable. Stainless steel is durable and strong which makes it perfect use for various end-user verticals.

COVID-19 Impact on Stainless Steel Market

The recent outbreak of coronavirus had a negative impact on the stainless steel market. The pandemic crisis has had a significant impact on the growth of the stainless steel market in the year 2020, owing to a significant decrease in demand from various end use sectors. Furthermore, there has been a decrease in construction activity as well as the closure of some manufacturing plants. For example, Nippon Steel announced in March 2021 that it will reduce capacity by 10%, following a 10% reduction in production in 2020 due to a drop in demand caused by the pandemic. Furthermore, Oxford Economics predicted that annual construction output in China would fall by 8% in 2020. Nonetheless, they forecast $5.8 trillion in global construction activity over the next ten years, led by the United States, China, India, and Indonesia.

While companies have reduced short-term revenue targets, the stainless steel market outlook for 2022-2028 remains bullish. Stakeholders are expected to establish large capacities and investigate opportunities in the construction sector with stainless steel recycling.

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STAINLESS STEEL MARKET SEGMENTATION

Product

  • Flat Products
  • Long Products
  • Bars/ Wire Rods
  • Hot Bars/ Wire Rods
  • Cold Bars/ Wire Rods
  • Cold Rolled Flats
  • Coils
  • Sheets
  • Strips
  • Hotplates and Sheet
  • Hot Coils
  • Tubes
  • Castings
  • Others

Type

  • Austenitic Stainless Steels
  • Martensitic Stainless Steels
  • Ferritic Stainless Steels
  • Precipitation-Hard enable Stainless Steels
  • Duplex Series

Grade

  • 200 Series
  • 300 Series
  • 400 Series
  • Duplex Series

Application

  • Automotive and Transportation
  • Building and Construction
  • Consumer Goods
  • Heavy Industries
  • Metal Products
  • Other Applications

KEY MARKET COMPETITORS COVERED IN THE REPORT

  • DuPont (U.S.)
  • DOW (U.S.)
  • Umicore (Belgium)
  • Glencore (Switzerland)
  • Jinchuan Group International Resources Co.  Ltd (China)
  • Huayou Cobalt Co., Ltd (China)
  • Freeport Cobalt (Finland)
  • Sherritt International Corporation (Canada)
  • solvay (Belgium)
  • DAIKIN (Japan)
  • BHP (Australia)
  • Eramet (France)
  • Vale (Brazil)
  • Votorantim Metais SA (Brazil)
  • Sumitomo Corporation (Japan)

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 enquiry.

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, 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.

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BASIC QUESTIONS ANSWERED

  • Which geographic regions will continue to remain the most profitable markets for medical spas over the coming years?
  • How will changing trends impact the Stainless Steel Market?
  • How has the COVID-19 crisis impacted market growth?
  • How can market players capture the low-hanging opportunities in developed regions?
  • What are the strategies of stakeholders in the Stainless Steel Market to shape their position in this landscape?
  • What are the restraining factors that investors need to be aware of and might tackle while investing in the market?
  • What are the developmental trends that will impact the market?
  • How can businesses in the Stainless Steel Market avail the growth opportunities in developed and emerging sectors?

MAJOR TOC OF THE REPORT

  1. Introduction
  2. Market Segmentation
  3. Executive Summary
  4. Premium Insights
  5. Market Overview
  6. Global Stainless Steel Market, By Type
  7. Global Stainless Steel Market, By Source
  8. Global Stainless Steel Market, By Therapy
  9. Global Stainless Steel Market, By Transporting Capacity
  10. Global Stainless Steel Market, By Route of administration
  11. Global Stainless Steel Market, By Region
  12. Global Stainless Steel Market: Company Landscape
  13. SWOT Analyses
  14. Company Profile
  15. Questionnaires

Get TOC Details: https://www.databridgemarketresearch.com/toc/?dbmr=global-stainless-steel-market

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