October 05, 2021 06:00 ET | Source: Market Study Report Market Study Report
Pune, India, Oct. 05, 2021 (GLOBE NEWSWIRE) -- According to reliable predictions, global stainless-steel market size had reached a valuation of USD 105.67 billion in 2020 and is likely to expand significantly over the period of 2021-2026. This can be attributed to the growing energy demand, mounting automotive production, and booming construction activities.
Apart from this, the document talks about the various market segmentations and emphasizes on the key revenue generators for this industry space. It also elaborates on the regional scope and the competitive hierarchy, further ensuring advanced decision-making among investors and entrepreneurs.
Stainless-steel is a highly versatile material that offers exceptional longevity, durability, and recyclability. Having said that, focus among the leading companies towards improving their production capabilities as well as integrate sustainable practices in tandem with strict regulatory outlook pertaining to environmental conservation are also adding traction to the overall market size.
However, the economic slowdown across various parts of the world is likely to act as a restraining factor to the growth of global stainless-steel market.
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The COVID-19 pandemic has severely affected various sectors, including automotive, manufacturing, building & construction, and heavy industries. The outbreak has also disrupted the supply chain as well as negatively impacted the production and distribution activities in the steel industry, which in turn could hinder global stainless-steel market growth.
An overview of the product landscape
The product spectrum of global stainless-steel market is bifurcated into flat and long segments. Analysts claim that the flat segment held the largest market share in the year 2020 and is likely to depict similar growth trends in the forthcoming years, on account of widespread adoption of cold-rolled products.
Moreover, flat stainless-steel is known to provide high tolerance, straightness, and concentricity that makes them ideal for automotive, construction, and home-appliances space, which in turn is fueling the segmental share.
On the other hand, the long segment is predicted to record a robust CAGR through 2026, primarily driven by the growing demand from heavy industries.
A summary of the regional landscape
Worldwide stainless-steel market, in terms of its geographical reach, is split into North America, Asia-Pacific, Latin America, Europe, and the rest of the world.
Among these, Asia-Pacific currently accounts for the largest market share and is expected to register continuous growth in the subsequent years. Mounting energy demand, rapid industrialization, and increasing automotive production are complementing the business dynamics in Asia-Pacific.
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Global Stainless-Steel Market Product Spectrum (Revenue, USD Billion, 2016-2026)
Global Stainless-Steel Market by Grade Type (Revenue, USD Billion, 2016-2026)
Global Stainless-Steel Market End-user Analysis (Revenue, USD Billion, 2016-2026)
Global Stainless-Steel Market by Geographical Reach (Revenue, USD Billion, 2016-2026)
Global Stainless-Steel Market Competitive Scenario (Revenue, USD Billion, 2016-2026)
3. Stainless Steel Market: Product Overview
4. Global Stainless Steel Market: An Analysis
4.1 Market Size, By Value, Year 2016-2026
4.2 Market Size, By Volume, Year 2016-2026
4.3 Impact of COVID-19 on Stainless Steel Market
4.4 Global Stainless Steel Market: Growth & Forecast
5. Global Stainless Steel Market Segmentation, By Product Type (Value)
5.1 Global Stainless Steel Market: Segment Analysis
5.2 Competitive Scenario of Stainless Steel Market: By Product Type (2020 & 2026)
5.3 By Flat Products - Market Size and Forecast (2016-2026)
5.4 By Long Products - Market Size and Forecast (2016-2026)
6. Global Stainless Steel Market Segmentation, By Grade(Value)
6.1 Global Stainless Steel Market: Segment Analysis
6.2 Competitive Scenario of Global Stainless Steel Market: By Grade User (2020 & 2026)
6.3 By 200 Series - Market Size and Forecast (2016-2026)
6.4 By 300 Series - Market Size and Forecast (2016-2026)
6.5 By 400 Series - Market Size and Forecast (2016-2026)
7. Global Stainless Steel Market Segmentation, By End User (Value)
7.1 Global Stainless Steel Market: Segment Analysis
7.2 Competitive Scenario of Global Stainless Steel Market: By End User (2020 & 2026)
7.3 By Automotive - Market Size and Forecast (2016-2026)
7.4 By Construction - Market Size and Forecast (2016-2026)
7.5 By Consumer Products - Market Size and Forecast (2016-2026)
7.6 By Heavy Industry - Market Size and Forecast (2016-2026)
8. Global Stainless Steel Market: Regional Analysis
8.1 Competitive Scenario of Global Stainless Steel Market: By Region (2020 & 2026)
9. Americas Stainless Steel Market: An Analysis (2016-2026)
9.1 Americas Stainless Steel Market by value: Size and Forecast (2016-2026)
9.2 Americas Stainless Steel Market: Prominent Companies
9.3 Market Segmentation By Product Type (Flat, Long)
9.4 Market Segmentation By Grade (200 Series, 300 Series, 400 Series, Others)
9.5 Market Segmentation By End User (Automotive, Construction, Consumer Goods, Heavy Industry, Others)
10. Europe Stainless Steel Market: An Analysis (2016-2026)
10.1 Europe Stainless Steel Market by value: Size and Forecast (2016-2026)
10.2 Europe Stainless Steel Market: Prominent Companies
10.3 Market Segmentation By Product Type (Flat, Long)
10.4 Market Segmentation By Grade (200 Series, 300 Series, 400 Series, Others)
10.5 Market Segmentation By End User (Automotive, Construction, Consumer Goods, Heavy Industry, Others)
11. Asia Pacific Stainless Steel Market: An Analysis (2016-2026)
11.1 Asia Pacific Stainless Steel Market by value: Size and Forecast (2016-2026)
11.2 Asia Pacific Stainless Steel Market: Prominent Companies
11.3 Market Segmentation By Product Type (Flat, Long)
11.4 Market Segmentation By Grade (200 Series, 300 Series, 400 Series, Others)
11.5 Market Segmentation By End User (Automotive, Construction, Consumer Goods, Heavy Industry, Others)
12. Global Stainless Steel Market Dynamics
12.1 Global Stainless Steel Market Drivers
12.2 Global Stainless Steel Market Restraints
12.3 Global Stainless Steel Market Trends
13. Market Attractiveness and Strategic Analysis
13.1 Market Attractiveness Chart of Global Stainless Steel Market - By Product Type (Year 2026)
13.2 Market Attractiveness Chart of Global Stainless Steel Market - By Grade (Year 2026)
13.3 Market Attractiveness Chart of Global Stainless Steel Market - By End User (Year 2026)
13.4 Market Attractiveness Chart of Global Stainless Steel Market - By Region (Year 2026)
14.1 Market Share of global leading companies
14.2 Global major stainless steel producers
14.3 SWOT Analysis - Global Stainless Steel Market
14.4 Porter Five Force Analysis - Global Stainless Steel Market
15. Global Stainless Steel Market: Merger & Acquisitions
Steel Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
The global steel market for automotive and aerospace applications is projected to expand substantially in the forthcoming years, driven by the rapid developments in the automotive and aerospace sectors. The demand for steel angles, shapes, and sections is likely to grow at a 4.5% CAGR through 2027. The drawn wire segment is expected to be worth more than USD 3 billion by 2027. Drawn wires are extensively used in the reinforcement of tires in order to enhance their strength and durability. They also find wide use in the production of automotive controls. The demand for steel wire rods is expected to increase at a CAGR of around 5.5% over the same timeframe. Steel is widely preferred in wire rods on account of its high strength, ductility, malleability, and corrosion resistance which is required in various automotive components. The hot rolled bars and rods segment will be worth more than USD 27.5 billion by 2027. Meanwhile, the adoption of other bars and rods will increase at a 3% CAGR.
Iron & Steel Casting Market Size, Application Growth Potential, Price Trends, Competitive Landscape & Forecast, 2021 – 2027
The iron & steel castings market is projected to foresee commendable growth in coming years owing rapid industrialization, rising construction activities as well as infrastructure development across the globe, and high product usage across applications such as sanitary, automotive, power & electrical, pipes, fittings, and valves, and industrial machinery among many others. Casting provides peculiar capacity for design detail, often removing the need for extra fabrication and assembly. Numerous materials can be cast, including various kinds of synthetics and metals, however iron & steel are known to be the best and most favored. Iron and steel are both known to be ferrous metals comprising of primarily iron atoms. Iron and steel casting is referred as the process of producing iron & steel-based products utilizing molds to form the molten metal. Although iron castings and steel castings might appear to be same on the surface, both have their own individual mechanical properties making them unique. Iron & steel present excellent mechanical properties for a wide array of applications.
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