Connect with us

Research Reports

Stainless Steel Market Size To Reach USD 170.62 Billion By 2027 – Reports And Data

The global Stainless Steel market is forecast to reach USD 170.62 Billion by 2027, according to a new report by Reports and Data. The stainless steel market is witnessing a surge in demand, owing to the growth of end-user industries such as the automotive industry, in the developed, as well as developing economies across the globe. However,…

The post Stainless Steel Market Size To Reach USD 170.62 Billion By 2027 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

gbaf1news

The global Stainless Steel market is forecast to reach USD 170.62 Billion by 2027, according to a new report by Reports and Data. The stainless steel market is witnessing a surge in demand, owing to the growth of end-user industries such as the automotive industry, in the developed, as well as developing economies across the globe. However, carbon fibers due to its lightweight, high strength, and load-bearing properties will hamper the demand of the market.

Rapid urbanization has changed the lifestyle of the people and, in turn, has increased the prevalence of secure infrastructure over a broad aspect, thus, augmenting the demand for the market product. The usage of the use of stainless steel is supported by the Ministry of Steel of the Indian government, as India contributes to the list of top manufacturers of the Stainless Steel across the globe, which is creating a demand in the market. Moreover, the government in nations such as China, Japan, and the United States are also supporting the sales of stainless steel, thereby driving the growth of the market. Resuming operations after taking control of the Covid-19 pandemic, China announced an increase in the export rebates for cold-rolled steel, stainless steel strip, and other products from present 10.0% to 13.0% for a variety of steel products. This may prompt Indian steelmakers to seek higher border tariffs on imports. The Asia Pacific region forecasted to grow with the highest growth rate owing to the increase in the use of stainless-steel.

Key participants include:

Jindal Stainless, Acerinox S.A., Outokumpu, Aperam Stainless, ArcelorMittal, Baosteel Group, Nippon Steel Corporation, POSCO, ThyssenKrupp Stainless GmbH, and Yieh United Steel Corp, among others.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3017

Further key findings from the report suggest

  • Based on grade, 400 Series is expected to grow with a CAGR of 6.5% owing to its fundamental characteristics, which are high carbon content that gives martensitic crystalline structure, thereby making it appropriate to use for a variety of applications.
  • Increasing demand for the product in infrastructure development and automotive production owing to properties, such as resistance to corrosion, strength, and low maintenance, is driving the demand for the Stainless Steel market. The automotive and transportation application is likely to grow at a significant rate of 6.5% in the forecast period.
  • The Consumer Goods sector is the major contributor to the Stainless Steel market, which was USD 31.38 billion in 2017 and is forecasted to grow at a rate of 5.4% in the forecast period. The Consumer Goods sector of the Asia Pacific region is the major shareholder of the Stainless Steel market holds around 33.0% of the market in the year 2019.
  • The Asia Pacific dominated the market for Stainless-Steel. The consistent focus of the region on cost-effective and innovative procedures adopted in the area is driving the market.

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/3017

For the purpose of this report, Reports and Data have segmented into the global Stainless Steel market on the basis of grade, product, application, and region:

Grades Outlook (Volume, kilo Tons; 2017-2027, Revenue, USD Billion; 2017-2027)

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

Product Outlook (Volume, kilo Tons; 2017-2027, Revenue, USD Billion; 2017-2027)

  • Flat
  • Long

Application Outlook (Volume, kilo Tons; 2017-2027, Revenue, USD Billion; 2017-2027)

  • Building & Construction
  • Heavy Industry
  • Automotive & Transportation
  • Consumer Goods
  • Others

Buy now your Exclusive copy of Report @  https://www.reportsanddata.com/checkout-form/3017

Regional Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Explore Reports and Data’s Prime Analysis of the global Materials and Chemicals Industry:

Ammonium Phosphate Market Size, Share, Trends & Analysis, Report By Type (Ammonium Polyphosphate, Di-Ammonium Phosphate (DAP), Mono-Ammonium Phosphate (MAP)), By Application (Fertilizers, Flame Retardant, Food & Beverage, Water Treatment Chemicals, Others), By Region, Competitive Strategies and Segment Forecasts for 2016-2026

Agricultural Chelates Market Size, Share & Analysis, By Type (EDTA, EDDHA, DTPA, IDHA, Others), By Application (Soil Application, Seed Dressing, Foliar Sprays, Fertigation, Others), By Micronutrient Type (Iron, Manganese, Others), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By End-Use (Agriculture, Indoor Farming), And By Region Forecast To 2028

Borosilicate Glass Market Size, Share & Analysis By Type (Non-Alkaline Earth, Alkaline Earth Containing, High-Borate), Byapplication (Heat-Resistant Glass Panels, Display Screens, Lighting Glass, Sealing Glasses, Neutral Glasses, Cosmetic Containers, Solar Glass, Glass Microspheres, Others), By Region, Segment Forecast To 2027

Acoustic Metamaterials Market By Type (Resonant Membrane, Periodic Resonators, Sonic Crystal), By Application Type (Seismic Wave Reflection, Vibration Control, And Others), And Region-Global Forecast To 2027

Gracilaria Agarose and Gelidium Agarose Market Size, Share & Analysis, By Type (Gracilaria Agarose, Wild Harvest, Aquaculture, Gelidium Agarose, Wild Harvest, Aquaculture), By Application (Agarose Gel Electrophoresis, Protein Purification, Food & Beverage, Cosmetic, Microbiology, Others), By Region Forecast To 2027

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]

Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs

Read Full Press Releasehttps://www.reportsanddata.com/press-release/global-stainless-steel-market

The post Stainless Steel Market Size To Reach USD 170.62 Billion By 2027 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Recommended

Newsletters with Secrets & Analysis. Subscribe Now