Wiseguyreports.Com Adds “Stainless Steel– Global Market Share, Industry Analysis, Competitive Landscape, Strategies And Forecast To 2026”
Stainless steel is also called as inox steel. Based on the chemical composition, steel that has a minimum of 11% chromium and a maximum of 1.2% carbon is called stainless steel. There are different grades of steel available based on the amount of chromium added to it. The more the chromium, the more corrosive resistant the steel would be. Starting from construction to automotive, medicine, energy production and jewelry, there are so many areas where this type of steel is used.
The construction industry is growing in most countries and this creates a direct demand for stainless steel. The aesthetic appearance of the steel and its tensile strength also makes it a perfect material to add while manufacturing automobiles. Different spare parts of automobiles like hoses, exhausts, and clamps are made with this quality of steel which is corrosion resistant. One factor that negatively impacts the growth of this industry is the use of carbon fibers and aluminum as a replacement for stainless steel.
This global stainless steel report talks about the qualitative and quantitative growth aspects of this industry in the years between 2019 and 2026. The report extracts vital data from the historical period of 2014 and 2018 and uses this as a base of its study. Innumerable primary and secondary research reports are identified and their results are used for the forecast. This report concludes that technological advancements new innovations in this field will further expand the production and usage of this steel in downstream applications.
Top Competitors in the global Stainless Steel market :
Nippon Steel & Sumitomo Steel
North American Stainless
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There are two basic types of stainless steel that are used in different applications. Long steel includes rails, rods, drawn wire, blooms, rebars and other kinds of materials that are pulled long or extended and used majorly in the construction industry and in the automotive industry. Flat steel is thin pressed into coils, slabs, and tinfoil. These find usage in heavy machinery and packaging industries. Depending on the applications or areas of usage, the report identifies heavy industry, consumer goods, building and construction, and automotive and transportation sectors that make use of this type of steel. The demand that each of these sectors creates is identified.
North America including the United States, China, Japan, South East Asia, India, Middle East and Africa and Central and South America are the different regions included in this study. Out of these, Asia Pacific countries like China, Japan and India will lead both the production and consumption charts, thanks to the increasing construction and industrial activities. The governmental infrastructure development plans in these countries is also a positive factor for growth. Europe will also be an important region that cannot be ignored in the coming years. The rise in consumer goods in this region will promote the need for stainless steel.
A recent report from the Special Steel Enterprises Association of China (SSEAC) states that the production of stainless steel in the year 2019 in China increased by 10.5% when compared to the same period in 2018.
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Source: EIN Presswire