Stainless Steel 400 Series Market size to grow by USD 11,808.01 million from 2022 to 2027

NEW YORK, July 28, 2023 /PRNewswire/ -- The stainless steel 400 series market size is estimated to increase by USD 11,808.01 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 7.19% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The growth of the stainless steel 400 series market is driven by the economic growth in China and India. One of the major technological innovations of most developed counties is steel. Some of the key developing economies which are the largest crude steel producers include China and India. The rapid changes in the economy and infrastructure are primarily the driving forces of the steel market in China. There is an increase in demand for steel, especially 400 series stainless steel due to the increase in growth of the construction and manufacturing industry. Furthermore, India is becoming one of the fastest-growing markets for 400 series stainless steel, followed by China due to growing industrialization and booming automotive and construction industries. Hence, such factors are expected to drive the stainless steel 400 series market growth during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report

Stainless Steel 400 Series Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The stainless steel 400 series market report covers the following areas:

Stainless Steel 400 Series Market 2023-2027 Size

Stainless Steel 400 Series Market 2023-2027 Trends

Stainless Steel 400 Series Market 2023-2027 Industry Analysis

Stainless Steel 400 Series Market 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Ambica Steels Ltd., Aperam SA, ArcelorMittal, BALLKINGS, Baosteel Group Corp., E United Group, Helander, Hunan Fushun Metal Co. Ltd., Jindal Stainless Ltd., Medline Industries, Mirach Metallurgy Co. Ltd., Nippon Steel Corp., Outokumpu Oyj, POSCO holdings Inc., ThyssenKrupp AG, Tianjin Pipe International Economic and Trading Corp., Tsingshan Holding Group Co. Ltd., Tubacex SA, Cleveland Cliffs Inc., and Tata Steel Ltd. are among some of the major market participants.

Vendor Offering

Aperam SA: The company offers Ferritics or stainless steel 400 series which can be used for car exhaust systems, conveyor chains, cooking utensils, boilers, domestic appliances, trim, dishware, heating, hot water tanks, and tubes.

ArcelorMittal: The company offers stainless steel 400 series which can be used for siding and facing.

Baosteel Group Corp: The company offers Ferritics or stainless steel 400 series for automobile, railway, and home appliance industries.

What`s New for 2023?

Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial

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Stainless Steel 400 Series Market 2023-2027: Market Dynamics

Key Trends -

The rising penetration of the stainless steel 400 series in industrial applications is a primary trend in the stainless steel 400 series market during the forecast period. Factors such as durability, yield strength, and corrosion resistance are significantly fuelling the increase in demand for 400 series stainless steel in various industrial applications. Some of the main application areas of 400 series stainless steel include mining, quarrying, chemical, petrochemical, electrical engineering, power generation, and food and beverage industries. The main additives which enhance the corrosion resistance and strength of stainless steel are nickel, chromium, and manganese. Furthermore, this type of steel is widely utilized for the storage and transportation of liquids, air, and gases. Hence, such applications are expected to drive the stainless steel 400 series market during the forecast period.

Major challenges -

Fluctuation in raw material prices is a major challenge hindering the stainless steel 400 series market growth during the forecast period. The manufacturing of 400 series stainless steel is highly relying on various raw materials such as metals, iron ore, ferrochrome, ferrous scrap, and chromium. As the prices of these raw materials have a direct correlation to global economic performance and price elasticity, they can directly influence the overall manufacturing cost of the stainless steel 400 series. Furthermore, iron ore prices also vary according to region based on factors such as import and export tariffs which can negatively impact market growth. Hence, such factors can hinder the stainless steel 400 series market growth during the forecast period.

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Stainless Steel 400 Series Market 2023-2027: Segmentation

Stainless Steel 400 Series Market is segmented as below:

End-user

Product Type

Geography

The market share growth by the consumer goods segment is significant during the forecast period. Factors such as the cost-effectiveness of stainless steel, high strength and durability, corrosion resistance, ease of manufacturing, and aesthetic appeal are significantly fuelling the growth of this segment. There is an increasing popularity of 400 series stainless steel among consumer goods manufacturers to produce affordable products as more cost-effective than other grades of stainless steel. Hence, such factors are expected to positively impact the market which in turn will drive the market growth during the forecast period.

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Stainless Steel 400 Series Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist stainless steel 400 series market growth during the next five years

Estimation of the stainless steel 400 series market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the stainless steel 400 series market

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of the stainless steel 400 series market, vendors

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Stainless Steel 400 Series Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.19%

Market growth 2023-2027

USD 11808.01 million

Market structure

Fragmented

YoY growth 2022-2023(%)

6.01

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 72%

Key countries

US, China, India, Japan, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Ambica Steels Ltd., Aperam SA, ArcelorMittal, BALLKINGS, Baosteel Group Corp., E United Group, Helander, Hunan Fushun Metal Co. Ltd., Jindal Stainless Ltd., Metline Industries, Mirach Metallurgy Co. Ltd., Nippon Steel Corp., Outokumpu Oyj, POSCO holdings Inc., thyssenkrupp AG, Tianjin Pipe International Economic and Trading Corp., Tsingshan Holding Group Co. Ltd., Tubacex SA, Cleveland Cliffs Inc., and Tata Steel Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global stainless steel 400 series market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Product Type Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 Consumer goods - Market size and forecast 2022-2027

6.4 Mechanical engineering and heavy industries - Market size and forecast 2022-2027

6.5 Automotive and transportation - Market size and forecast 2022-2027

6.6 Building and construction - Market size and forecast 2022-2027

6.7 Others - Market size and forecast 2022-2027

6.8 Market opportunity by End-user

7 Market Segmentation by Product Type

7.1 Market segments

7.2 Comparison by Product Type

7.3 Plate and sheet - Market size and forecast 2022-2027

7.4 Bar and tubular - Market size and forecast 2022-2027

7.5 Structural - Market size and forecast 2022-2027

7.6 Market opportunity by Product Type

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 India - Market size and forecast 2022-2027

9.10 US - Market size and forecast 2022-2027

9.11 Japan - Market size and forecast 2022-2027

9.12 South Korea - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Aperam SA

12.4 ArcelorMittal

12.5 Baosteel Group Corp.

12.6 Cleveland Cliffs Inc.

12.7 E United Group

12.8 Helander

12.9 Hunan Fushun Metal Co. Ltd.

12.10 Jindal Stainless Ltd.

12.11 Mirach Metallurgy Co. Ltd.

12.12 Nippon Steel Corp.

12.13 Outokumpu Oyj

12.14 POSCO holdings Inc.

12.15 Tata Steel Ltd.

12.16 thyssenkrupp AG

12.17 Tianjin Pipe International Economic and Trading Corp.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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