Stainless Steel Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR71876
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The stainless steel market share is expected to increase by 15836.08 thousand MT from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.35%.

This stainless steel market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers stainless steel market segmentation by end-user (metal products, mechanical engineering, automobile and transportation, infrastructure and construction, and electrical engineering) and geography (APAC, Europe, North America, MEA, and South America). The stainless steel market report also offers information on several market vendors, including Acerinox SA, AK Steel Holding Corp., Aperam, Guangxi Chengde Group, JFE Holdings Inc., Nippon Steel Corp., Outokumpu Oyj, POSCO Group, Tata Steel Ltd., and Tsingshan Holding Group Co. Ltd. among others.

What will the Stainless Steel Market Size be During the Forecast Period?

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Stainless Steel Market: Key Drivers and Trends

The upsurge in consumption of high-strength stainless steel is notably driving the stainless steel market growth, although factors such as volatility in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the stainless steel industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Stainless Steel Market Driver

One of the key factors driving growth in the stainless steel market is the upsurge in the consumption of high-strength stainless steel. The increased use of high-strength stainless steel has been due to its superior qualities like affordable cost and high strength-to-weight ratio. Some of the other benefits that high-strength stainless steel offers are faster hardening rates, high weldability, increased malleability, and a high ability to endure stress. The increased demand for high-strength stainless steel is due to the increasing focus of the automotive industry to minimize the weight of the automobiles while meeting important criteria including stiffness, forming requirements, and crash performance. The increased focus of the stainless steel and automotive industries to develop environment-friendly vehicles is driving the use of high-strength stainless steel, thereby driving the growth of the global stainless steel market.

Key Stainless Steel Market Challenge

The volatility in raw material prices will be a major challenge for the stainless steel market during the forecast period. The manufacturing of stainless steel depends on various commodities, metals, and industrial raw materials such as iron ore, ferrochrome, scraped steel, chromium, nickel, and others. The prices of commodity products and metals are directly related to the global economic performance and price elasticity. Price volatility brings uncertainty to the market and influences the profit margins of the value chain stakeholders. Fluctuations in the raw material prices will also squeeze manufacturers’ profit margins, posing a hurdle to their growth. Therefore, high volatility in the cost of raw materials is one of the major challenges for the global stainless steel market.

This stainless steel market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Stainless Steel Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Acerinox SA
  • AK Steel Holding Corp.
  • Aperam
  • Guangxi Chengde Group
  • JFE Holdings Inc.
  • Nippon Steel Corp.
  • Outokumpu Oyj
  • POSCO Group
  • Tata Steel Ltd.
  • Tsingshan Holding Group Co. Ltd.

 

This statistical study of the stainless steel market encompasses successful business strategies deployed by the key vendors. The stainless steel market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The stainless steel market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Stainless Steel Market?

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74% of the market’s growth will originate from APAC during the forecast period. China, India, South Korea (Republic of Korea), and Japan are the key markets for stainless steel in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

APAC is home to some of the largest stainless steel producing countries in the world, such as China, Japan, South Korea, and India. This will facilitate the stainless steel market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Stainless Steel Market?

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The stainless steel market share growth by the metal products segment will be significant during the forecast period. The shift in consumer preference toward hygienic and easy-to-clean products is likely to enhance the demand for stainless steel in metal products.

This report provides an accurate prediction of the contribution of all the segments to the growth of the stainless steel market size and actionable market insights on post COVID-19 impact on each segment.

 

Stainless Steel Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.35%

Market growth 2021-2025

15836.08 th MT

Market structure

Fragmented

YoY growth (%)

5.00

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 74%

Key consumer countries

China, India, US, Japan, South Korea (Republic of Korea), and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Acerinox SA, AK Steel Holding Corp., Aperam, Guangxi Chengde Group, JFE Holdings Inc., Nippon Steel Corp., Outokumpu Oyj, POSCO Group, Tata Steel Ltd., and Tsingshan Holding Group Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Stainless Steel Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive stainless steel market growth during the next five years
  • Precise estimation of the stainless steel market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the stainless steel industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of stainless steel market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Metal products - Market size and forecast 2020-2025
    • Mechanical engineering - Market size and forecast 2020-2025
    • Automobile and transportation - Market size and forecast 2020-2025
    • Infrastructure and construction - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Acerinox SA
      • AK Steel Holding Corp.
      • Aperam
      • Guangxi Chengde Group
      • JFE Holdings Inc.
      • Nippon Steel Corp.
      • Outokumpu Oyj
      • POSCO Group
      • Tata Steel Ltd.
      • Tsingshan Holding Group Co. Ltd.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The stainless steel market growth will increase by $15836.08 thousand MT during 2020-2025.
      The stainless steel market is expected to grow at a CAGR of 5.35% during 2020-2025.
      Technavio has segmented the stainless steel market by end user (Metal products, Mechanical engineering, Automobile and transportation, Infrastructure and construction, and Electrical engineering) and geographic (APAC, Europe, North America, MEA, and South America).
      Acerinox SA, AK Steel Holding Corp., Aperam, Guangxi Chengde Group, JFE Holdings Inc., Nippon Steel Corp., Outokumpu Oyj, POSCO Group, Tata Steel Ltd., Tsingshan Holding Group Co. Ltd. are a few of the key vendors in the stainless steel market.
      APAC will register the highest growth rate of 74.13% among the other regions. Therefore, the stainless steel market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • India
      • US
      • Japan
      • South Korea (Republic of Korea)
      • Germany
      The key factors driving the stainless steel market growth are:
      • Upsurge in consumption of high-strength stainless steel
      The stainless steel market vendors should focus on grabbing business opportunities from the metal products segment as it accounted for the largest market share in the base year.
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