The global Stainless Steel Market was valued at $87.54 Billion in 2017 and is forecast to grow at a modestxx.3 % CAGR between 2018 and 2025, culminating in 2025 global sales of $138.7Billion.
Stainless steel is an iron-based alloy which is made of from copper, carbon, nickel, chromium, iron etc. To add some other useful properties such as increased corrosion resistance & enhance formability nickel & molybdenum are used. benefits of using stainless steel in different industries because of its aesthetic appearance, Excellent corrosion resistance, fire & heat resistance, Ease of fabrication, sustainability. Stainless steel is not just an alloy, but a series of different composition designed to provide specific properties & designed for different applications. It differs from carbon steel by the amount of chromium present. stainless steel contains a sufficient amount of chromium so that a layer of chromium oxides forms which prevents further corrosion
Stainless steel is divided into five types they are Ferritic, Austenitic, Martensitic, Duplex, & precipitation hardening. Stainless steel is often used in civil engineering, pharmaceutical industries, oil & gas industries, medical sector, Transport etc.
Pricing Analysis
“Optimal Price Point (OPP) for Stainless steel”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in the China Stainless steel materials are available at USD xxx- USD xxxx. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Stainless Steel Market “by Product Categories”
We have segmented the Stainless-Steel Market based on product categories as Long Products, Flat Products, Other Products.
We have observed rising usage of long products in construction, oil & gas, automotive, mechanical engineering application in the different form of billets, ingots, rods, sheets, tubes due to properties such as high strength, ductility, an aesthetic appearance which boost the market growth for the forecast period.
Flat products which are used in heavy industries like in construction, tin plate, packaging & application, pipes & tubes is anticipated to drive its growth in the market.
Stainless Steel Market by“GradeType”
We have segmented the Stainless-Steel market based on Grade types are 200, 300, 304, 316, 400, 410, 416, Duplex Series.
We have observed the maximum use of 304 series grade for its for high temperature resistant more than 200 series grade this is quietly used in welding & forming characteristics. it is used for manufacturing of sterilizers, containers, homogenizers which results to expected to drive demand over the forecast periods.
Stainless Steel Market by “Applications”
We have segmented the stainless-steel market based on the application as construction, heavy industry, transportation, consumer goods.
We observed the maximum use of stainless-steel application in heavy industries for intrinsic properties like high corrosion resistance like automotive & aerospace, and shipping & marine industry which is expected to witness growth during the forecast period.
Regional Segmentation
Asia Pacific accounted for the maximum revenue share of over xx% in 2017 due to increased demand of Stainless-steel materials followed by EU- Top 5 countries contribute $X.6 Billion in 2017 and expected to reach $x.5 Billion by 2023.
Stainless steel is widely used in oil &gas, Railways, nuclear power plants, automotive industry for various applications such as Stainless tanks pipes, pumps, construction of railway carriages, structural components of pressurized water reactors & fast breeder reactors. Recovery of the Stainless-steel industry in developed regions of North America and Europe is over the last two years has been a significant driving force for industry growth.
The increase, Storage tank, ship, sub-Marines, train, Mining & mineral in emerging economies such as China, India, Brazil, is anticipated for industrial & commercial constructions. Strong economic development coupled with industrial sector growth is expected to drive market growth over the forecast period.
Read Full Report At https://www.ameriresearch.com/product/stainless-steel-market/
Thanks for sharing the post. Global stainless steel market was valued most by certain days.The best Steel Suppliers in chennai will support us to grow. The quality is the main thing to construct a building. Then also the quality of Steel Dealers in Chennai will satisfy the customer needs.
ReplyDelete