Precipitation Hardening Stainless Steel Market Report 2025

This precipitation hardening stainless steel market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The precipitation hardening stainless steel market size has grown strongly in recent years. It will grow from $9.99 billion in 2024 to $10.95 billion in 2025 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to increasing emphasis on sustainability, increasing preference for high-performance materials, increasing demand for corrosion-resistant materials, increasing industrial demand, and increasing use in medical devices.

The precipitation hardening stainless steel market size is expected to see strong growth in the next few years. It will grow to $15.66 billion in 2029 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to growth in the chemical industry, infrastructure development, expansion in automotive applications, energy sector growth, and the development of new grades and formulations. Major trends in the forecast period include enhanced heat treatment techniques, advancements in the aerospace industry, innovation in the food and beverage industry, an upsurge in power generation, and customization and tailoring.

The increasing rates of aircraft production are anticipated to drive the growth of the precipitation-hardening stainless steel market. The surge in aircraft manufacturing is fueled by rising air travel demand and efforts to modernize fleets, as airlines seek to accommodate more passengers and replace outdated, less efficient planes. Precipitation-hardened stainless steel is preferred for aircraft components due to its high strength, corrosion resistance, and lightweight properties, making it suitable for critical parts such as landing gear and engine components. For instance, in June 2023, Boeing, a U.S.-based aircraft industry leader, projected robust demand in the global aviation sector, with a need for 42,595 new commercial jets valued at $8 trillion by 2042. The global fleet is expected to nearly double to 48,600 jets, growing at a rate of 3.5% annually. Over 75% of these new deliveries will consist of new single-aisle airplanes, surpassing the 2022 outlook and totaling more than 32,000 units. Hence, the rising aircraft production rates will stimulate the growth of the precipitation-hardening stainless steel market.

Key players in the precipitation-hardening stainless steel market are focusing on developing advanced grades with improved properties, such as ultra-low-porosity 17-4PH stainless steel powder, to enhance performance, durability, and versatility. This specialized material is designed for advanced manufacturing, particularly in additive and binder jetting processes. For example, in September 2022, Uniformity Labs, a U.S.-based manufacturer of engineered metal powders, introduced UniJet SS17-4PH stainless steel for desktop metal production systems. Based on the 17-4PH alloy, this powder features ultra-low porosity, high density and strength, reduced shrinkage, improved flowability, and consistent production quality, making it well-suited for binder jetting applications in metal additive manufacturing.

In February 2024, North American Stainless (NAS), a U.S.-based stainless steel production facility under the Acerinox Group, acquired Haynes International, Inc. for $970 million. This acquisition is intended to bolster growth in high-performance alloys, especially in industries such as aerospace and chemical processing, where Haynes has a strong market presence. Haynes International Inc. is a U.S.-based manufacturer specializing in high-performance alloys, including precipitation-hardened stainless steel.

Major companies operating in the precipitation hardening stainless steel market are ArcelorMittal S.A., POSCO Stainless Steel Co Ltd., Nippon Steel Corporation, Thyssenkrupp AG, Cleveland-Cliffs Inc., Kobe Steel Ltd., Sandvik AB, Outokumpu Oyj, Aperam S.A., Daido Steel Co Ltd., Jindal Stainless Limited, Allegheny Technologies Incorporated (ATI), Carpenter Technology Corporation, Bodycote plc, Valbruna Stainless Inc., Böhler Edelstahl GmbH & Co KG, Paulo Products Company, Bluewater Thermal Solutions LLC, Specialty Steel Treating Inc., Wallwork Heat Treatment Ltd, Irwin Automation Inc., Pacific Metallurgical Inc., Tokushu Kinzoku Excel Co Ltd., MSL Heat Treatment Ltd, Hunan Fushun Metal Co Ltd.

Asia-Pacific was the largest region in the precipitation hardening stainless steel market in 2023. The regions covered in the precipitation hardening stainless steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the precipitation hardening stainless steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Precipitation hardening stainless steel is a type of stainless steel strengthened through a heat treatment process known as precipitation hardening or age hardening. It is used in aerospace and high-performance automotive applications due to its exceptional strength and corrosion resistance.

The main types of precipitation-hardening stainless steel are low-carbon martensitic, semi-austenitic, and austenitic. Low-carbon martensitic stainless steels have a lower carbon content, making them less hard but more corrosion-resistant compared to high-carbon varieties. These are used in applications such as aircraft components and industrial equipment for their balance of toughness and durability. The hardening methods include coherency strain, chemical, and dispersion techniques. End-use industries for these materials include aerospace and defense, automotive, oil and gas, medical devices, consumer electronics, and others.

The precipitation hardening stainless steel market research report is one of a series of new reports that provides precipitation hardening stainless steel market statistics, including precipitation hardening stainless steel industry global market size, regional shares, competitors with an precipitation hardening stainless steel market share, detailed precipitation hardening stainless steel market segments, market trends and opportunities, and any further data you may need to thrive in the precipitation hardening stainless steel industry. This precipitation hardening stainless steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The precipitation hardening stainless steel market consists of sales of products including PH 13-8 Mo, 17-7 PH, 17-4 PH, 15-5 PH, and 17-7 PH. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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