Stainless Steel Market growth outlook with industry review and forecasts 2017-2024

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Stainless Steel Market 2017 to 2024, key industry
players growth trends
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Global Market Scenario of Stainless Steel Market

• 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.
  Its 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.
• 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.

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Market Research Reports Key Analytical Components
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• Product Analysis-
• 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 OEMS 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.
• Regional Trends-
• 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.
• 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.

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• Competitive Trends
• 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.

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