Press release
Global Stainless Steel Market to Reach a value of USD 19.69 Billion by 2028
Rapidly Expanding Real Estate Sector
The stainless steel industry has been rapidly expanding in recent years due to the increasing demand for stainless steel products. The increasing demand for stainless steel products is being driven by the rapidly expanding real estate sector. This is because stainless steel is often used in construction and home décor products.
Due to the increasing demand for stainless steel, there has been a surge in the prices of stainless-steel products. This has led to a growth in the profitability of the stainless steel market. In addition, the increase in the demand for stainless steel products has also led to an increase in the number of companies manufacturing and selling stainless steel products.
Get Detailed Information Here: https://skyquestt.com/report/stainless-steel-market
Overall, the rapidly expanding real estate sector and increasing demand for stainless steel products are likely to continue driving growth of the Stainless-Steel Industry for some time to come.
The demand for transportation methods is further fueled by urbanization and population growth, which will boost railroad and automobile production. These elements are expanding the market's opportunities for stainless steel. Innovative technologies like Building Information Management (BIM) are being used more frequently, and this will open up new growth opportunities for the stainless steel industry.
Read market research report, "Global Stainless Steel Market By Type (cold rolled flat, hot plate & sheet, cold bars & wire, hot bars & wire rod, and others), By Grade (200 series, 300 series, 400 series, duplex series), By Application (metal products, electrical machinery, engineering, construction, automotive parts, and others) & By Region (North America, Europe, Asia-Pacific, South America, and MEA) - Forecast and Analysis 2022-2028" by SkyQuest
Due to the rapidly growing defense, machinery, auto, and shipbuilding sectors in nations like India, China, South Korea, and Japan, the Asia Pacific region dominated the regional stainless steel market and had the biggest volume share of almost 74.0% in 2021. Infrastructure and energy-related foreign direct investment are projected to present market suppliers with opportunities. For its Odisha stainless steel factory, Jindal Stainless announced in February 2021 a capex plan for Rs. 2000-3000 crore (USD 261.8-392.7 million) over the following few years.
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The need for stainless steel (SS) is projected to increase in India and the ASEAN nations, which would likely help the Asia Pacific stainless steel market to grow. The progressive rise in per capita consumption in countries like India, Vietnam, Thailand, and Indonesia is projected to continue to be a major driver of market expansion. Additionally, it is anticipated that the development of cold-rolled facilities would continue to play a crucial role in the development of the market.
Europe is anticipated to grow at a CAGR of 5.6 percent over the forecast period. The start of industrial operations in 2021, following the lockdown, caused the market in Europe to rebound. For instance, until the first quarter of 2021, SS melt shop production climbed by about 11.0 percent year over year, according to the International Stainless-Steel Forum (ISSF). In the upcoming years, pre-engineered structures' expanding use is projected to fuel market expansion.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
What does this Report Deliver?
Market Estimation for 20+ Countries
Stainless Steel Market demand by Region, Sub-Region, and Country
Customization on Segments, Regions, and Company Profiles
100+ tables, 150+ Figures
Global, Regional and Country specific Stainless Steel Market Trends
Comprehensive Mapping of Stainless Steel Industry Parameters
Attractive Investment Proposition in the Global Stainless Steel Industry
Competitive Strategies Adopted by Stainless Steel Market Key Players
Drivers, Restraints, Opportunities, Challenges and the impact on the Stainless Steel Market Size
Market growth rate till 2028
Regulatory scenario, regional dynamics, and Stainless Steel market insights of leading countries in each region
In-depth Market insights by Region and Country
Market Segmentation Trend Analysis, Opportunities and Growth
Porter's five force analysis to know the market's condition
Pricing Analysis and Stainless Steel Market Sales
Parent market analysis
Product portfolio benchmarking
Speak with our analyst for more information: https://skyquestt.com/speak-with-analyst/stainless-steel-market
SkyQuest has segmented the Global Stainless Steel Market based on Type, Grade, Application and Region:
Global Stainless Steel Market by Type (Revenue, USD Billion, 2021 - 2028)
Cold Rolled Flat
Hot Plate & Sheet
Cold Bars & Wire
Hot Bars & Wire Rod
Others
Global Stainless Steel Market by Grade (Revenue, USD Billion, 2021 - 2028)
200 Series
300 Series
400 Series
Duplex Series
Global Stainless Steel Market by Application (Revenue, USD Billion, 2021 - 2028)
Metal Products
Electrical Machinery
Engineering, Construction
Automotive Parts
Others
Global Stainless Steel Market By Region (Revenue, USD Billion, 2021 - 2028)
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
Rest of Asia Pacific
Central & South America
Brazil
Rest of CSA
Middle East & Africa
GCC Countries
South Africa
Rest of MEA
Key Players in the Global Stainless Steel Market
Alliance Acerinox S.A (Spain)
Aperam Stainless (Luxembourg)
ArcelorMittal (Luxembourg)
Baosteel Group (China)
Jindal Stainless (India)
Nippon Steel Corporation (Finland)
Outokumpu (Finland)
POSCO (South Korea)
ThyssenKrupp Stainless GmbH (Germany)
Yieh United Steel Corp (Taiwan)
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
Address:
1 Apache Way, Westford, Massachusetts 01886
Phone:
USA (+1) 617-230-0741
Email: sales@skyquestt.com
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