Global Stainless Steel Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

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. Growing adoption of stainless steel in oil & gas industry for off-shore oil rigs is expected to boost the overall market growth in the region.

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.

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. It’s 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 stainless steel market 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.

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.