What's driving the Stainless Steel Market Growth? Jindal Stainless, ArcelorMittal, Outokumpu, North American Stainless, POSCO
North America led by U.S. stainless steel market may witness significant growth by increasing application scope in medical, oil & gas and heavy industries. High-grade stainless steel plays vital role in construction of valves, pipes, and storage tanks to provide resistance to corrosion over a wider range of temperatures. Growing adoption of stainless steel in oil & gas industry for off-shore oil rigs is expected to boost the overall market growth in the region.
Request for table of contents of this report @ https://www.gminsights.com/request-toc/upcoming/2390
Strong application outlook in architecture and construction industry for sustainable building will stimulate stainless steel market growth. Stainless steel in a grain or polished finish helps in bringing natural light into the building by reducing overall energy consumption. Shift in focus towards aesthetic appearance of buildings will play a vital role in industry growth.
Global Stainless-Steel Market may witness significant gains over forecast period owing to positive growth in the automotive sector & rise in public infrastructure expenditure for developing railways, roads & highways projects. It’s key properties such as resistance to corrosion, strength, and low maintenance properties making it suitable for wide range of applications including transportation, heavy industries, and metal products.
Properties such as low maintenance, ease of fabrication, and aesthetic appeal has led to rise in preference for stainless steel over ordinary steel which is likely to favor industry growth. Growing usage of stainless steel in pre-engineered buildings for roofing and building system may boost the overall product demand over the forecast timeframe. It safeguards the building system in unfavorable environmental conditions. Global demand for pre-engineered buildings was valued for USD 9 billion in 2015 and may surpass USD 15 billion by 2020, registering over 12% growth.
Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/stainless-steel-market
Increased product usage in automotive industry owing to their wide range of application in car exhaust systems, mufflers, fuel tanks, hoods, and vehicle frames for doors will trigger market growth in forecast timeframe. Apart from this, new environmental concerns and emission reduction standards are encouraging automotive OEM’S to favor stainless steel in structural components. Growing demand for light weight automobiles may propel the product growth.
Rise in demand for stainless steel in medical industry may propel the market growth over the forecast timeframe. It is widely used in construction of kidney dishes, surgical and dental instruments, in addition to other medical equipment such as steam sterilizers, MRI scanners, and cannulas. Positive application scope in consumer goods such as such as cookware, stoves, and showpieces are also expected to boost the product demand.
Asia Pacific led by China, India and Japan stainless steel market should witness significant growth owing to rise in demand for renewable energy in this region. Stainless steel components are widely used in hydro, geothermal, solar, and wind power as they are able to withstand the rigors of highly corrosive sea water environments. Rapid industrial development and rise in government investments in infrastructure sector for the construction of highways, roads and bridges may boost the industry growth in this region.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2390
Global stainless steel market share is competitive with major industry players include Jindal Stainless, Aperam Stainless, ArcelorMittal, Outokumpu, POSCO, ThyssenKrupp Stainless, Nippon Steel & Sumitomo Steel, JFE Holdings, and North American Stainless. Manufacturers are also focusing on merger and acquisitions with local & regional companies to open new market opportunities this will further boost the market for stainless steel.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release What's driving the Stainless Steel Market Growth? Jindal Stainless, ArcelorMittal, Outokumpu, North American Stainless, POSCO here
News-ID: 1684649 • Views: 595
More Releases from Global Market Insights, Inc.
Global sodium metasilicate pentahydrate market size by 2025 | Top Companies are …
Global Market Insights, Inc., says that sodium metasilicate pentahydrate market may exceed USD 875 million by 2025. Sodium metasilicate pentahydrate market is expected to accrue momentous proceeds from the cement industry. The product is used as a connecting agent in the making of refractory cement & can enable properties such as chemical and heat resistance and hardness. It has also found application in the cosmetic, textile, ceramics, chemical production, and
Vinyl ester market Growth in Europe, Impact Covid19 and Top key players like Swa …
Vinyl ester market to be fueled by increasing deployment of wind energy facilities, Europe to emerge as a pivotal revenue pocket. In 2017, Europe marked a growth of 25% in the wind power plant capacity annual installation as compared to 2016. Whereas wind energy was the second-largest source of power generation power in the year 2016 in Europe. Nations worldwide are actively aligning their focus toward the deployment of wind
Biaxially Oriented Polypropylene (BOPP) Market Size, Share by key players like B …
Biaxially oriented polypropylene (BOPP) market size to reach USD 20 billion by 2024. Growing focus on superior packaging for the protection of delicate good, foods, medicines, and others will favor BOPP business growth in the coming years. Rapid proliferation of e-commerce platforms along with changing consumer spending trends will drive biaxially oriented polypropylene (BOPP) market outlook. In a world of constantly-changing lifestyles, consumers expect products to be shatter-proof, lightweight, aesthetically appealing,
Titanium Dioxide Market to see 7%+ CAGR over 2021-2026 | Key Players are Tronox …
Titanium Dioxide Market growth will be driven by rising expansion activities in the paints & coatings sector and proliferating application in paper & pulp industry. For years, titanium dioxide (TiO₂) has been used in the manufacturing of numerous consumer products across various industries. The product finds applications in paints, adhesives, coatings, paper, rubber, printing inks, textiles, coated fabrics, ceramics, roofing materials, floor coverings, and cosmetics. Surging in product demand across
More Releases for Stainless
Stainless Steel & Aluminium Supplier
Euro Steel is one of the largest suppliers of corrosion-resistant metals which includes stainless steel, aluminium, special steels and other metals. Euro Steel mainly operates in South Africa but is also active in the sub-Saharan region. The company provides plates, sheets, coils, valves, sections, pipes, tubes and many other forms of metal which are used commercially. The company is well known for its reliable services and high-quality products. Common Products Offered
Stainless Steel Tube Market Global Forecast 2018| Studied By Outokumpu, Acerinox …
UpMarketResearch published an exclusive report on “ Stainless Steel Tube market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 128 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. This report focuses on the Stainless Steel Tube market, especially in North America, Europe and Asia-Pacific, South America,
Stainless Steel Market 2018-2024 | Global Key Player; Jindal Stainless, ArcelorM …
Strong application outlook in architecture and construction industry for sustainable building will stimulate stainless steel market growth. Stainless steel in a grain or polished finish helps in bringing natural light into the building by reducing overall energy consumption. Shift in focus towards aesthetic appearance of buildings will play a vital role in industry growth. Global Stainless-Steel Market may witness significant gains over forecast period owing to positive growth in the automotive
Difference Between Duplex Stainless and Industrial Stainless Steel Pipe
Difference between duplex Stainless steel pipe and industrial stainless steel pipe. 1) Comprehensive mechanical properties better industrial stainless steel pipe, especially plastic toughness, not as industrial stainless steel pipe as brittle sensitive. 2) In addition to stress corrosion resistance, the other resistance to local corrosion is better than industrial stainless steel pipe. 3) Cold processing technology and cold forming performance is much better than industrial stainless steel pipe. 4) Welding performance is also far
Stainless Steel Pipe and Industrial Stainless Steel Pipe
Stainless steel pipe is divided into two series: decorative stainless steel pipe(stainless steel pipe) and industrial stainless steel pipe. Decorative stainless steel pipe(stainless steel pipe(SS)): usually outside the wall will be bright tube, hence the name of thinking, stainless steel pipe(SS) is used for decorative purposes. Stainless steel pipe(SS) mainly used to decorate, such as railings, staircase handrails, windows, etc., the wall thickness is very thin. As with the industrial stainless
Gardtec Stainless Steel Fan Guards
Racine, WI – Nov 4. Gardtec Incorporated, the world’s largest manufacturer of electronic cooling fan accessories, has just released the industries first complete line of 100% totally recyclable Stainless Steel Fan Guards to the market. The Gardtec Stainless Steel Fan Guards are designed to fit all industry standard tubeaxial cooling fans which range in sizes from 25mm to 172mm. The guards are all manufactured from high grade 304 stainless