Stainless Steel Market is set to Witness Huge Demand at a CAGR of 6.0% during the Forecast Period 2030
Data Bridge Market Research analyses
that the Stainless-Steel
market which was USD 110.48 billion in 2022,
would rocket up to USD 176.09 million by 2030, and is expected to undergo a
CAGR of 6.0% during the forecast period.
Industry Analysis
Stainless
steel is a type of alloy known for its corrosion resistance and durability. It
is composed primarily of iron, with varying amounts of chromium, nickel,
molybdenum, and other elements depending on the specific grade. The addition
of chromium is what gives stainless steel
its corrosion resistance properties. Stainless steel is widely used in various
industries and applications due to its desirable qualities. It is commonly used
in kitchen appliances, cookware, cutlery, medical instruments, surgical
implants, automotive parts, construction materials, and many other products.
This
indicates that the market value. “Flat Products” dominates the technology
segment of the Stainless Steel market due to their versatility, durability,
corrosion resistance, recyclability ability properties. These technologies rely
on physical interactions, such as adsorption or compression, to store hydrogen
gas. In addition to the insights on market scenarios such as market value,
growth rate, segmentation, geographical coverage, and major players, the market
reports curated by the Data Bridge Market Research also include depth expert
analysis, patient epidemiology, pipeline analysis, pricing analysis, and
regulatory framework.
Stainless
steel contains a variety of materials that, when 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.
Global
Stainless Steel Market Scope
The
stainless steel market is segmented on the basis of product, type, grade, and
application. The growth amongst these segments will help you analyze meagre
growth segments in the industries and provide the users with a valuable market
overview and market insights to help them make strategic decisions for
identifying core market applications.
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
Get TOC Details: https://www.databridgemarketresearch.com/toc/?dbmr=global-stainless-steel-market
Global
Stainless Steel Market Regional Analysis/Insights
The
stainless steel market is analysed and market size insights and trends are
provided by country, product, type, grade, application as referenced above.
The
countries covered in the stainless steel market report are U.S., Canada,
Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K.,
Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe,
Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand,
Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South
Africa, Israel, Rest of Middle East and Africa
North
America is estimated to dominate the stainless steel market due to the growth
and expansion of the automobile sector within the region.
Asia-Pacific
is expected to witness significant growth during the forecast period of 2023 to
2030 due to the rise in construction activities as a result of the rising
population coupled with the presence of major players in the region.
The country
section of the report also provides individual market impacting factors and
changes in regulation in the market domestically that impact the current and
future trends of the market. Data points like down-stream and upstream value
chain analysis, technical trends, and porter's five forces analysis, case
studies are some of the pointers used to forecast the market scenario for
individual countries. Also, the presence and availability of global brands and
their challenges faced due to large or scarce competition from local and
domestic brands, the impact of domestic tariffs, and trade routes are
considered while providing forecast analysis of the country
data.
Competitive
Landscape and Stainless Steel Market Share Analysis
The
stainless steel market competitive landscape provides details by competitors.
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. The above data points provided are only related
to the companies' focus related to the stainless steel market.
Some of
the major players operating in the stainless steel market are:
· 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)
Get Full Access of reports @ https://www.databridgemarketresearch.com/reports/global-stainless-steel-market
MAJOR TOC OF THE
REPORT
Ø
Chapter One: Introduction
Ø
Chapter Two: Market Segmentation
Ø
Chapter Three: Market Overview
Ø
Chapter Four: Executive Summary
Ø
Chapter Five: Premium Insights
Ø
Chapter Six: Global Stainless Steel Market by Product
& Procedure type
Browse Related Reports @
About Us: -
Data Bridge Market
Research set forth itself as an unconventional and neoteric Market research and
consulting firm with unparalleled level of resilience and integrated
approaches. We are determined to unearth the best market opportunities and
foster efficient information for your business to thrive in the market
Contact: -
Data Bridge Market Research
Tel: +1-888-387-2818
Email: Sopan.gedam@databridgemarketresearch.com
Comments
Post a Comment