Dublin, April 12, 2019 (GLOBE NEWSWIRE) -- The "Stainless Steel Market Size, Share & Trends Analysis Report By Grade (200 Series, 300 Series, 400 Series, Duplex Series), By Product (Long, Flat), By Application, And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global stainless steel market size is projected to reach USD 133.84 billion by 2025, according to this report. It is projected to expand at a CAGR of 5.2% during the forecast period. Increasing production of automotive and growth of construction sector are the key factors driving the growth.
Owing to high resistance to corrosion, stainless steel can be easily fabricated in building structures. Along with aesthetic purpose, it provides strength and support to various building structures. It is used in roofing, structures, fixings, drainage and water systems, handrails, and wall support products. Rising investment in this sector and number of construction activities are creating a high demand for stainless steel products.
For instance, as per the 13th five-year plan of the Civil Aviation Administration of China (CAAC), China is aiming to build around 74 more airports by 2020. It is also planning to construct 30,000 km of highways and one million km of rural roads. Further, this plan is also created to achieve cumulative sales and production of 5 million electric vehicles by 2020.
Automotive sector is expanding at a greater pace owing to easy access to credit facility and increasing the necessity among people to own a vehicle. Stainless steel can absorb the energy during collision which makes it a key material in automotive components. The demand for products such as frame, exhaust system, wheel rim, engine cradles, floor panels, gaskets, and suspension systems is expected to rise in near future. In 2017, global production of vehicles increased by 2.3% compared to 2016 and reached 97.3 million units of production. This is also projected to assist the growth of stainless steel market.
Increasing use of aluminium and carbon fibers in automotive components is projected to restraint the market growth. The advantages of aluminium such as fuel efficiency, recyclability, durability, performance, and environmental safety make it suitable in vehicles. Increasing government pressure on manufacturers to reduce emissions of harmful chemicals is projected to boost the demand for automotive aluminium in the forthcoming years. In addition, 90% of aluminium can be recovered from the products and again recycled for further processing. It is believed that 1 kg of aluminium can replace around 2 kg of cast iron or steel in manufacturing process.
Further key findings from the report suggest:
- The 300 series grade steel is anticipated to reach USD 71.9 billion by 2025 at an estimated CAGR of 5.1%
- In terms of revenue, long products segment is projected to expand at a CAGR of 4.7% over the forecast period
- Automotive application held the leading market share of 27.3% in 2018
- Europe stainless steel market is anticipated to reach 7,233.5 kilotons by 2025
- In terms of revenue, Asia Pacific is projected to witness a significant CAGR of 4.7% over the forecast period, owing to rise in infrastructure investments and demand vehicles
- Some of the key companies present in the market are North America Stainless, ArcelorMittal, Aperam Stainless, Jindal Stainless, Bristol Metals, LLC and Nippon Steel and Sumitomo Metal
Key Topics Covered
Chapter 1 Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2 Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3 Stainless Steel Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2 Business Segment Trends
3.3 Industry Value Chain Analysis
3.4 Technology Overview
3.5 Regulatory Framework
3.6 Market Dynamics
3.7 Business Environment Analysis: Stainless Steel Market
3.8 Production Cost Analysis
3.9 New Project Investment: SWOT Analysis of Stainless Steel
3.10 Industry News Analysis of Stainless Steel
3.11 Raw Material Trend
Chapter 4 Stainless Steel Market Grade Estimates & Trend Analysis
4.1 Stainless Steel Market: Grade Movement Analysis, 2018 & 2025
4.2 200 Series
4.3 300 Series
4.4 400 Series
4.5 Duplex Series
Chapter 5 Stainless Steel Market Product Estimates & Trend Analysis
5.1 Stainless Steel Market: Product Movement Analysis
5.2 Long Products
5.3 Flat Products
5.4 Other Products
Chapter 6 Stainless Steel Market: Application Estimates & Trend Analysis
6.1 Stainless Steel Market: Application Movement Analysis
6.2 Building & Construction
6.3 Heavy Industry
6.4 Automotive & Transportation
6.5 Consumer Goods
6.6 Other Applications
Chapter 7 Stainless Steel Market: Regional Estimates & Trend Analysis, by Application, Product, and Grade
7.1 Regional Movement Analysis & Market Share, 2018 & 2025
7.2 North America Movement Analysis & Market Share, 2018 & 2025
7.3 Europe Movement Analysis & Market Share, 2018 & 2025
7.4 China Movement Analysis & Market Share, 2018 & 2025
7.5 Asia Pacific Movement Analysis & Market Share, 2018 & 2025
7.6 Central & South America Movement Analysis & Market Share, 2018 & 2025
7.7 Middle East & Africa Movement Analysis & Market Share, 2018 & 2025
Chapter 8 Competitive Analysis
8.1 Key Global Players & Recent Developments & Their Impact on the Industry
8.2 Key Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
8.3 Vendor Landscape
Chapter 9 Company Profiles
9.1 Acerinox/North American Stainless
9.2 Aperam Stainless
9.3 ArcelorMittal
9.4 Bristol Metals LLC
9.5 Jindal Stainless
9.6 Mirach Metallurgy Co.
9.7 Nippon Steel and Sumitomo Metal
9.8 Outokumpu
9.9 Posco Steel
9.10 RTI Industries
9.11 Sandvik Materials
9.12 Schmolz-Bickenbach AG
9.13 Thyssenkrupp Stainless
9.14 Viraj
For more information about this report visit https://www.researchandmarkets.com/r/7ikezj
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