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Stainless Steel Market 2020 by regional industry trend, revenue & growth forecast to 2025

02-11-2020 10:15 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Stainless Steel Market

Stainless Steel Market

Europe driven by France, UK and Germany stainless steel market may witness high growth owing to positive application outlook in automotive industry owing to its high strength that allows for thinner containers, saving fuel costs, whereas its resistance to corrosion helps in minimizing the maintenance and cleaning costs.

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.

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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.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

o Jindal Stainless
o Aperam Stainless
o ArcelorMittal
o Outokumpu
o POSCO
o ThyssenKrupp Stainless
o Nippon Steel & Sumitomo Steel
o JFE Holdings
o and North American Stainless

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300 series stainless steel may witness strong gains over the forecast timeframe owing to its high temperature resistance and easy maintenance along with wide range of applications in automotive, aerospace, and construction industries. It also resists cracking and etching better than other grades.

400 Series grade consist of manganese and chromium and are magnetic. It consists of high carbon content thereby giving it a martensitic crystalline structure. Rise in demand for product for various application such as gas turbine exhaust silencers, agricultural equipment, heat exchanger, hardware and motor shafts boost the overall industry growth.

Duplex series finds strong application scope in oil & gas, pulp & paper and chemical industries owing to its superior properties such as good weldability, high strength and low weight.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/stainless-steel-market

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Contact Person: Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

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.

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