PUBLISHER: IMARC | PRODUCT CODE: 1422900
PUBLISHER: IMARC | PRODUCT CODE: 1422900
Stainless Steel Market by Product, Grade, Application, and Region 2024-2032
Abstract
The global stainless steel market size reached US$ 155.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 251.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.34% during 2024-2032. The rising demand for stainless steel from the building and construction sector, escalating automotive production and sales, and ongoing industrial and infrastructure development activities represent some of the key factors driving the market.
Stainless steel (SS) refers to an iron-based alloy with a high chromium content and additional elements, such as nickel, molybdenum, carbon, and other metals. The alloyed chromium secretes a thin layer of oxide, or a passive layer, which imparts excellent corrosion and heat resistance properties to the steel. Other elements, including titanium, aluminum, niobium, copper, nitrogen, sulfur, phosphorus, and selenium, can be added to the steel to improve its corrosion resistance to specific environments, enhance oxidation resistance, and attain desired characteristics. Compared to carbon steel, SS offers superior properties, such as excellent flexibility, tensile strength, corrosion resistance, aesthetic appeal, low maintenance costs, environment-friendliness, recyclability, and extended product life. As a result, stainless steel finds extensive applications across the construction, automotive, infrastructure, railways, and process industries.
Stainless Steel Market Trends:
There has been a significant increase in the use of stainless steel products for structural purposes, such as beams, columns, and general architectural applications. They are widely employed in railings, roofing, lifts, staircases, swimming pool shades, canopies, and atriums. Consequently, the rising demand for stainless steel from the building and construction sector represents one of the key factors driving the market growth. Moreover, governments of various nations are making heavy investments in repairing and renovating bridges, highways, airports, public buildings, and electric vehicle (EV) charging facilities. Along with this, extensive private and public funding in infrastructure development and the increasing number of residential housing projects are contributing to the market growth. Additionally, there is an increase in the mechanical, chemical, and energy applications of stainless steel, such as tubular in the oil industry, heat exchangers and boilers in power plants, and components in processing machinery of pulp and paper, chemicals, and food and beverage sectors. In line with this, growing product usage in manufacturing consumer goods and parts for automobiles, machinery, and equipment has catalyzed product demand. Furthermore, several key players are adopting energy-efficient manufacturing processes and novel technologies to improve production capacities, reduce costs, and enhance efficiency, thereby contributing to market growth. Other factors, including escalating automotive production and sales, ongoing industrial and infrastructure development activities, rising product applications in the electrical and electronics industries, and continual technological advancements, are also creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global stainless steel market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product, grade, and application.
Product Insights:
Flat
Long
The report has provided a detailed breakup and analysis of the stainless steel market based on the product. This includes flat and long. According to the report, flat represented the largest segment.
Grade Insights:
200 Series
300 Series
400 Series
Duplex Series
Others
A detailed breakup and analysis of the stainless steel market based on the grade has also been provided in the report. This includes 200 series, 300 series, 400 series, duplex series, and others. According to the report, 300 series grade accounted for the largest market share.
Application Insights:
Automotive and Transportation
Building and Construction
Consumer Goods
Mechanical Engineering and Heavy Industries
Others
The report has provided a detailed breakup and analysis of the stainless steel market based on the application. This includes automotive and transportation, building and construction, consumer goods, mechanical engineering and heavy industries, and others.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for stainless steel. Some of the factors driving the Asia Pacific stainless steel market included its significant economic growth, heavy investments in energy and infrastructure, rapid expansion in the automotive, machinery, and shipbuilding industries, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global stainless steel market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Acerinox S.A., Aperam S.A., ArcelorMittal S.A., Baosteel Group, JFE Steel Corporation (JFE Holdings Inc.), Jindal Stainless Limited, Nippon Steel Corporation, Outokumpu Oyj, POSCO Products, thyssenkrupp Stainless GmbH (ThyssenKrupp AG), Yieh United Steel Corp., etc.
Key Questions Answered in This Report:
- How has the global stainless steel market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global stainless steel market?
- What is the impact of each driver, restraint, and opportunity on the global stainless steel market?
- What are the key regional markets?
- Which countries represent the most attractive stainless steel market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the stainless steel market?
- What is the breakup of the market based on the grade?
- Which is the most attractive grade in the stainless steel market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the stainless steel market?
- What is the competitive structure of the global stainless steel market?
- Who are the key players/companies in the global stainless steel market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Stainless Steel Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product
- 6.1 Flat
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Long
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Grade
- 7.1 200 Series
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 300 Series
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 400 Series
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Duplex Series
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Application
- 8.1 Automotive and Transportation
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Building and Construction
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Consumer Goods
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Mechanical Engineering and Heavy Industries
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
- 10.1 Overview
- 10.2 Drivers
- 10.3 Restraints
- 10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Acerinox S.A
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.2 Aperam S.A.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.3 ArcelorMittal S.A.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Baosteel Group
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 JFE Steel Corporation (JFE Holdings Inc.)
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Jindal Stainless Limited
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.7 Nippon Steel Corporation
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Outokumpu Oyj
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 POSCO Products
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 thyssenkrupp Stainless GmbH (ThyssenKrupp AG)
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Yieh United Steel Corp.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.1 Acerinox S.A
List of Figures
- Figure 1: Global: Stainless Steel Market: Major Drivers and Challenges
- Figure 2: Global: Stainless Steel Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Stainless Steel Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Stainless Steel Market: Breakup by Product (in %), 2023
- Figure 5: Global: Stainless Steel Market: Breakup by Grade (in %), 2023
- Figure 6: Global: Stainless Steel Market: Breakup by Application (in %), 2023
- Figure 7: Global: Stainless Steel Market: Breakup by Region (in %), 2023
- Figure 8: Global: Stainless Steel (Flat) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Stainless Steel (Flat) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Stainless Steel (Long) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Stainless Steel (Long) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Stainless Steel (200 Series) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Stainless Steel (200 Series) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Stainless Steel (300 Series) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Stainless Steel (300 Series) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Stainless Steel (400 Series) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Stainless Steel (400 Series) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Stainless Steel (Duplex Series) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Stainless Steel (Duplex Series) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Stainless Steel (Other Grades) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Stainless Steel (Other Grades) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Stainless Steel (Automotive and Transportation) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Stainless Steel (Automotive and Transportation) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Stainless Steel (Building and Construction) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Stainless Steel (Building and Construction) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: Stainless Steel (Consumer Goods) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: Stainless Steel (Consumer Goods) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: Stainless Steel (Mechanical Engineering and Heavy Industries) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: Stainless Steel (Mechanical Engineering and Heavy Industries) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Global: Stainless Steel (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: Stainless Steel (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: North America: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: North America: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: United States: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: United States: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: Canada: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: Canada: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: Asia-Pacific: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: Asia-Pacific: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: China: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: China: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Japan: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Japan: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: India: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: India: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: South Korea: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: South Korea: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: Australia: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: Australia: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: Indonesia: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: Indonesia: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: Others: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: Others: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Europe: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Europe: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Germany: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Germany: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: France: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: France: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: United Kingdom: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: United Kingdom: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: Italy: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: Italy: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: Spain: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: Spain: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Russia: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Russia: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Others: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Others: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Latin America: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Latin America: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Brazil: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Brazil: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Mexico: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 75: Mexico: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 76: Others: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 77: Others: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Middle East and Africa: Stainless Steel Market: Sales Value (in Million US$), 2018 & 2023
- Figure 79: Middle East and Africa: Stainless Steel Market: Breakup by Country (in %), 2023
- Figure 80: Middle East and Africa: Stainless Steel Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 81: Global: Stainless Steel Industry: Drivers, Restraints, and Opportunities
- Figure 82: Global: Stainless Steel Industry: Value Chain Analysis
- Figure 83: Global: Stainless Steel Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Stainless Steel Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Stainless Steel Market Forecast: Breakup by Product (in Million US$), 2024-2032
- Table 3: Global: Stainless Steel Market Forecast: Breakup by Grade (in Million US$), 2024-2032
- Table 4: Global: Stainless Steel Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 5: Global: Stainless Steel Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Stainless Steel Market: Competitive Structure
- Table 7: Global: Stainless Steel Market: Key Players
