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Research report explores the stainless steel market to grow at 5.65% CAGR during 2016-2020

The analysts forecast global Stainless Steel Market to grow at a CAGR of 5.65% during the period 2016-2020. Stainless steel is an iron-based alloy containing at least 10.5% chromium by mass. includes new research report onGlobal Stainless Steel Market 2016-2020. This report covers the present scenario and the growth prospects of the global Stainless Steel Market for 2016-2020.

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In order to enhance its properties, other alloys like nickel, titanium, columbium, and molybdenum can also be added during melting. Stainless steel is resistive to corrosion, rust, and stain with water unlike ordinary steel, due to which it is used in a number of industries like household appliances, construction, automobiles, and machinery.

We expect the global stainless steel market to post a CAGR of 5.24% during the forecast period.

Global Stainless Steel Market 2016-2020 Research Report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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Rationalization of capacity will gain traction in this market. China has the largest excess steel capacity in the world.

According to the draft released by the Chinese government, Steel Industry Adjustment Policy (2015 Revision), the Chinese steel industry will be moved toward a new economic model in order to deal the excess steel capacity in China. It also aims at achieving 80% capacity utilization by 2017.

To reach this level, Chinese steel sector will need a closure of 112.5MT of capacity per year keeping the production same. Currently, the steel capacity utilization is below 70% in China.

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Key vendors
AK Steel

Other prominent vendors

Guangxi Chengde Group
JFE Steel
Nippon Steel and Sumitomo Metal
Shanghai Baosteel Group (Baosteel)
TATA Steel Europe

Market driver
Difficult extraction environment requires more corrosion prevention
For a full, detailed list, view our report

Market challenge
Declining ferrochrome prices
For a full, detailed list, view our report

Market trend
Rationalization of capacity
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

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