What is Global Flat-Rolled Stainless Steel Market?
The Global Flat-Rolled Stainless Steel Market is a vast and dynamic sector that encompasses the production, distribution, and use of stainless steel in a flat-rolled form. This type of steel is produced by rolling the steel at a high temperature, which is above the steel's recrystallization temperature. The process makes the steel easier to form and results in products that are easier to work with. The market is global in nature, meaning it involves companies from all over the world, both as producers and consumers. The value of this market was estimated to be US$ 88480 million in 2023. The market is expected to grow and reach a value of US$ 110900 million by 2030. This growth is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period from 2024 to 2030.
Hot/Cold-Rolled Coil, Hot/Cold-Rolled Strips, Hot/Cold-Rolled Sheets, Plates, Others in the Global Flat-Rolled Stainless Steel Market:
The Global Flat-Rolled Stainless Steel Market is segmented into various types based on the product. These include Hot/Cold-Rolled Coil, Hot/Cold-Rolled Strips, Hot/Cold-Rolled Sheets, Plates, and Others. Each of these products has its unique properties and uses. Hot/Cold-Rolled Coil is a product that is typically used in construction, automotive, and other heavy industries. Hot/Cold-Rolled Strips are thin, flat pieces of stainless steel that are used in a variety of applications, including automotive, construction, and industrial machinery. Hot/Cold-Rolled Sheets are larger pieces of stainless steel that are used in applications such as building facades, kitchen appliances, and automotive body parts. Plates are thicker pieces of stainless steel that are used in heavy-duty applications such as shipbuilding, bridge construction, and pressure vessels. Other products in the market include stainless steel bars, rods, and sections, which are used in a variety of applications.
Construction, Automotive, Capital & Consumer Goods, Marine, Medical in the Global Flat-Rolled Stainless Steel Market:
The Global Flat-Rolled Stainless Steel Market finds its application in various sectors such as Construction, Automotive, Capital & Consumer Goods, Marine, and Medical. In the construction sector, it is used in the building of structures, bridges, and tunnels due to its strength and resistance to corrosion. The automotive industry uses it in the manufacturing of vehicles for parts such as exhaust systems, trim, and grills. Capital goods refer to goods used in the production of other goods, and here, stainless steel is used in machinery and equipment. Consumer goods are products bought for consumption by the average consumer, and stainless steel is used in appliances, cutlery, and cookware. The marine industry uses stainless steel in shipbuilding and offshore rigs due to its resistance to the corrosive effects of saltwater. In the medical field, stainless steel is used in surgical instruments, implants, and equipment due to its hygienic properties.
Global Flat-Rolled Stainless Steel Market Outlook:
Looking at the market outlook for the Global Flat-Rolled Stainless Steel Market, it is clear that the sector is set for steady growth. In 2023, the market was valued at US$ 88480 million. This figure is expected to rise to US$ 110900 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 2.8% during the forecast period from 2024 to 2030. This growth is driven by the increasing demand for stainless steel in various industries, including construction, automotive, and consumer goods. The market's growth is also supported by the ongoing technological advancements in the production of stainless steel, which are making it more efficient and cost-effective.
| Report Metric | Details |
| Report Name | Flat-Rolled Stainless Steel Market |
| Accounted market size in 2023 | US$ 88480 million |
| Forecasted market size in 2030 | US$ 110900 million |
| CAGR | 2.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | ATI (US), Danieli (Italy), Alliance Steel (US), Shah Alloys (India), Yieh Corp (China), Acerinox S.A. (Spain), North American Stainless (US), Metals USA (US), Con-Tech International USA (US), Metalwest (US), Outokumpu (Finland), Marfin (Italy) |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
