Global Stainless Steel Market Key Information By Top Key Player Allegheny Technologies Incorporated (U.S.), Sandvik Materials Technology AB (Sweden), Acerinox S.A. (Spain), ArcelorMittal S.A. (Luxembourg), Bristol Metals, LLC, North American Stainless, Po
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Key players in the global Stainless-Steel market are:
Bristol Metals, LLC
Mirach Metallurgy Co.
North American Stainless
Nippon Steel and Sumitomo Metal
Outokumpu Oyj (Finland)
Tata Steel (India)
Jindal Steel (India)
ArcelorMittal S.A. (Luxembourg)
Acerinox S.A. (Spain)
Sandvik Materials Technology AB (Sweden)
Allegheny Technologies Incorporated (U.S.)
Increasing demand from automotive industry and technological advancements boosts the Stainless Steel market
The growing demand of stainless steel in architecture and civil engineering, and high strength and toughness offered are expected to drive the market. The high strength-to-weight ratio and affordable cost of stainless steel increases its adoption in various applications. Stainless Steel is also used in healthcare, domestic appliances, and pharmaceutical industries which augments the market growth. The rising demand of stainless steel in construction industry and global growth in the automotive sector accelerates its adoption. Stainless steel is increasingly being used in the manufacturing sector, which has further increased its demand in the market. Expansion of established companies into emerging economies would provide numerous growth opportunities in the market.
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Geographically, the global Stainless-Steel market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The economic growth and presence of established automotive industry boost the growth in Asia-Pacific.
On the basis of geography, Asia-Pacific is expected to dominate the global market over forecast period. The significant growth in the construction and architecture sectors is expected to drive the growth of stainless steel in this region. The growing use of stainless steel in automotive and the established manufacturing sector accelerates the adoption of stainless steel. The increasing demand for stainless steel from countries such as China, Japan, and India would provide growth opportunities during the forecast period. The presence of large number of automotive manufacturers and appliance manufacturers also augments the growth of stainless steel in the region.
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