Global Stainless Steel Market to Reach USD 127 Billion by 2024, Forecasts Grand View Research in Its Report Available at MarketPublishers.com12 Sep 2016 • by Natalie Aster
LONDON – The global stainless steel marketplace is forecast to be worth approximately USD 127.2 billion by 2024.
There are a number of factor that will encourage this growth. Some of major ones comprise the growing middle-class population, rapid urbanization and improvements in socio-economic standards.
The automotive application is set to show the swiftest growth over the forecast period, with its CAGR being more than 4% on average.
As of 2015, the North American market surpassed the 3,000 kilo tons mark. The USA represents the largest marketplace in this region since it holds the largest share of the demand.
Besides, growth of the construction industry in this country is likely to have positive impact on the stainless steel marketplace.
The global market is dominated by such companies as Aperam, Outokumpu, POSCO, Baosteel, and more.
In-demand research report “Stainless Steel Market Analysis By Grade, By Product, By Application And Segment Forecasts To 2024” drawn up by Grand View Research, Inc. offers a comprehensive discussion of the global stainless steel marketplace. The study starts with an all-round overview of the global industry. It focuses on market segmentation and estimates sizing of this marketplace,
The report comprises a value chain analysis. The research study also focuses on the raw material marketplace. It throws light on driving forces, restraints and opportunities of the market space. The research report includes Porter’s and PESTEL analyses.
The study highlights performance of each market segment. It canvasses regional marketplaces and looks at leading countries. The report investigates the competitive environment and covers major players.
More insightful studies by Grand View Research can be found at its page.