According to the report the global stainless steel 400 series market reached a volume of 8.50 Million Tonnes in 2022. Aided by the heightening application of stainless steel 400 series in medical equipment and instruments and rapid infrastructure development activities, the market is projected to further grow at a CAGR of 5.32% between 2023 and 2028 to reach a volume of 10.64 Million Tonnes by 2028.
Stainless Steel 400 Series, also known as ferritic stainless steel, is a type of stainless steel that contains chromium but limited or no nickel. It is characterised by its excellent corrosion resistance, high thermal conductivity, and magnetic properties. Its low cost, coupled with its good formability and weldability, makes it a valuable material across various industrial applications, such as automotive, construction, and kitchenware.
The growing global infrastructure and automotive sectors are significant contributors to the stainless steel 400 series market growth. With the ever-increasing demand for sturdy and corrosion-resistant materials, there has been a surge in the use of Stainless Steel 400 Series in the production of structural elements, automotive exhaust systems, and heat exchangers. Moreover, the focus on fuel efficiency and vehicle weight reduction has further spurred its use in the automotive industry.
The widespread applications of Stainless Steel 400 Series across various industries play a vital role in driving the stainless steel 400 series market growth. In the construction sector, it is extensively used due to its high strength and resistance to atmospheric corrosion, making it suitable for both interior and exterior applications. The kitchenware industry relies heavily on Stainless Steel 400 Series for its resistance to food acids, making it an ideal material for cutlery, cookware, and kitchen appliances.
Further, the growing demand for cost-effective alternatives in various industries has led to an increased focus on Stainless Steel 400 Series, thus propelling the stainless steel 400 series market demand. With the rise in raw material prices and the increasing emphasis on cost-efficiency, Stainless Steel 400 Series has emerged as an economical choice due to its lower nickel content. Its compatibility with various manufacturing processes and its ease of fabrication also makes it a preferred material.
Moreover, the trend towards sustainable production practices is likely to favour the stainless steel 400 series market. Stainless Steel 400 Series is 100% recyclable, which aligns with the global efforts towards reducing industrial waste and promoting resource efficiency. This sustainability factor, combined with its inherent properties, enhances its market prospects.
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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Stainless Steel 400 Series, also known as ferritic stainless steel, is a type of stainless steel that contains chromium but limited or no nickel. It is characterised by its excellent corrosion resistance, high thermal conductivity, and magnetic properties. Its low cost, coupled with its good formability and weldability, makes it a valuable material across various industrial applications, such as automotive, construction, and kitchenware.
The growing global infrastructure and automotive sectors are significant contributors to the stainless steel 400 series market growth. With the ever-increasing demand for sturdy and corrosion-resistant materials, there has been a surge in the use of Stainless Steel 400 Series in the production of structural elements, automotive exhaust systems, and heat exchangers. Moreover, the focus on fuel efficiency and vehicle weight reduction has further spurred its use in the automotive industry.
The widespread applications of Stainless Steel 400 Series across various industries play a vital role in driving the stainless steel 400 series market growth. In the construction sector, it is extensively used due to its high strength and resistance to atmospheric corrosion, making it suitable for both interior and exterior applications. The kitchenware industry relies heavily on Stainless Steel 400 Series for its resistance to food acids, making it an ideal material for cutlery, cookware, and kitchen appliances.
Further, the growing demand for cost-effective alternatives in various industries has led to an increased focus on Stainless Steel 400 Series, thus propelling the stainless steel 400 series market demand. With the rise in raw material prices and the increasing emphasis on cost-efficiency, Stainless Steel 400 Series has emerged as an economical choice due to its lower nickel content. Its compatibility with various manufacturing processes and its ease of fabrication also makes it a preferred material.
Moreover, the trend towards sustainable production practices is likely to favour the stainless steel 400 series market. Stainless Steel 400 Series is 100% recyclable, which aligns with the global efforts towards reducing industrial waste and promoting resource efficiency. This sustainability factor, combined with its inherent properties, enhances its market prospects.
Market Segmentation
The market can be divided based on application and region.Market Breakup by Application
- Building and Construction
- Automotive and Transportation
- Consumer Goods
- Mechanical Engineering and Heavy Industries
- Medical
- Aerospace
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global stainless steel 400 series companies. Some of the major key players explored in the report are as follows:- Acerinox S.A.
- Baosteel Group Corporation
- Fushun Special Steel Co., Ltd.
- Jindal Stainless Ltd.
- Outokumpu Oyj
- POSCO
- Tata Steel Ltd.
- Yieh Corp.
- Nippon Steel Corp.
- ThyssenKrupp AG
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Stainless Steel 400 Series Market Analysis
8.1 Key Industry Highlights
8.2 Global Stainless Steel 400 Series Historical Market (2018-2022)
8.3 Global Stainless Steel 400 Series Market Forecast (2023-2028)
8.4 Global Stainless Steel 400 Series Market by Application
8.4.1 Building and Construction
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Automotive and Transportation
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Consumer Goods
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Mechanical Engineering and Heavy Industries
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Medical
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Aerospace
8.4.6.1 Historical Trend (2018-2022)
8.4.6.2 Forecast Trend (2023-2028)
8.4.7 Others
8.5 Global Stainless Steel 400 Series Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
9 North America Stainless Steel 400 Series Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Stainless Steel 400 Series Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Stainless Steel 400 Series Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Stainless Steel 400 Series Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Stainless Steel 400 Series Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Acerinox S.A.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Baosteel Group Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Fushun Special Steel Co., Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Jindal Stainless Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Outokumpu Oyj
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 POSCO
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Tata Steel Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Yieh Corp.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Nippon Steel Corp.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 ThyssenKrupp AG
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Other
16 Key Trends and Developments in the Market
Companies Mentioned
- Acerinox S.A.
- Baosteel Group Corporation
- Fushun Special Steel Co., Ltd.
- Jindal Stainless Ltd.
- Outokumpu Oyj
- POSCO
- Tata Steel Ltd.
- Yieh Corp.
- Nippon Steel Corp.
- ThyssenKrupp AG
Methodology
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