Stainless Steel Sheet and Strip Market, by Product type (Martensitic, Ferritic, Austenitic, Duplex, Precipitation- Hardening), by End-use Industry, (Automotive, Transportation, Building & Construction, Food & Beverage), and by Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Iron and steel industry is one of the most prominent industry portraying growth of a nation. It is one of the most extensively used and recyclable material on earth. Rapid industrialization, rising disposable income, growing urbanization, and increasing global population are the major key drivers for growth of the market.

Market Dynamics:-

Stainless steel sheet and strips find its major application in automotive Industry. It is used in the manufacturing of automotive parts, prone to dynamic stress. Globally, rising automotive industry will definitely propel demand of stainless steel sheet and strip market. For instance, according to India Brand Equity Foundation, the Indian automotive industry was valued at US$ 93 billion in 2016, is expected to grow to US$ 251.4-282.8 billion by 2026, with a CAGR of 14.25%.

Stainless steel sheets are suitable for manufacturing the parts of boiler, construction purposes, and production of bent profiles due to good moldability property. The other major driver for growth of the stainless steel sheet and strip market is ever-growing construction industry. According to World Bank’s report 2016, the global infrastructure investment needs is expected to reach US$ 97 trillion by 2040, which will definitely boost demand for stainless steel strip and sheet in the global market.

Major restraining factors of the global stainless steel sheet and strip market are price volatility of raw material, for instance, iron ore’s price fluctuates over the year due to new quarterly pricing system. Steel industry contributes 27% in total emission of greenhouse gases. Developed nations always force major steel manufacturing hubs such as India and China to cut the emission rates, which may adversely impact the growth of steel industry.

Market Outlook:-

Asia Pacific holds dominance in the global steel production due to rapid urbanization and industrialization in the region. According to World Steel Association’s report in 2017, China will remain consuming the half of the global steel produced till 2020 and India’s steel consumption is expected to grow by 5.5% in 2020.

Flat stainless steel sheets are used to construct bridges, offshore structure, ship and naval structure, hydro power stations, storage tanks, and boilers. The growth in marine structure industry will boost demand for stainless steel sheet. For instance, according to IBEF, the Indian shipbuilding sector has current order book of US$ 3.7 billion, which is expected to grow at CAGR of 30% by 2026.

Key players in the Global Stainless Steel Sheet and Strip Market:-

Major Key players in the global stainless steel sheet and strip market are ArcelorMittal, Brown Metal, Reliance Steel & Aluminum Co., Thyssenkrupp, Nippon steel, Sumitomo Metal Corp., Hebei Iron & steel group, Baosteel, Posco, Wuhan iron and steel group, JFE steel Corp., Hyundai steel company, Tata steel, Nucor Corp., Shougang, Essar steel, and Hesteel Group.

Major industrial activities include the acquisition of ArcelorMittal’s four Europe-based steel plants by Gupta’s Liberty House. This was confirmed in October 2018. ArcelorMittal is selling them to generate fund to purchase Italian steel company, ILVA.

Market Taxonomy:-

On the basis of product type, the global stainless steel sheet and strip market is segmented into:

  • Martensitic
  • Ferritic
  • Austenitic
  • Duplex
  • Precipitation- Hardening

On the basis of end-use industry, the global stainless steel sheet and strip market is segmented into:

  • Automotive
  • Transportation
  • Building & Construction
  • Food & Beverage

On the basis of region, the global stainless steel sheet and strip market is segmented into:

  • Asia
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of others
  • North America
    • USA
    • Canada
    • Mexico
  • Europe
    • U.K.
    • Germany
    • France
    • Luxemburg
    • Rest of the Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East and Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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