Precision Stainless Steel Market
Precision Stainless Steel Market: Opportunities Abound in Automotive Industry: Global Industry Analysis 2014 – 2018 and Opportunity Assessment 2019 - 2029
- 2019-06-19
- REP-GB-9833
- 25 Tables
- 55 Figures
- 172 pages
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Press Release:
Precision Stainless Steel Sales Outlook
Precision Stainless Steel – Making Complex Component Manufacturing Convenient
Precision stainless steel emerged as the efficient enabler of manufacturing complex components, dipping under the radar of process and fabrication industry professionals. Cold forming process and precision stainless steel continue to gain high popularity, abreast the advent of cost-effective methods that revolutionise the way stainless steel components are manufactured.
In-depth Opinion - Precision Stainless Steel Market
Precision Stainless Steel Market – Key Research Findings
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The global precision stainless steel market volume in 2018 – nearly 900 ‘000 tonnes.
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The precision stainless steel market is expected to witness a CAGR of over 4%, during 2019-2029.
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South & East Asia, cumulatively, are anticipated to account for around half of the global precision stainless steel market in terms of market value share.
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East Asia is projected to represent an incremental opportunity of around US$ 650 Mn by the end of the forecast period.
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The other industrial segment is expected to create an incremental opportunity of nearly US$ 550 Mn by the end of 2029.
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In 2018, China was holding around 30% of market share in the global precision stainless steel market, while India is projected to witness rapidly demand for precision stainless steel.
Key Factors Shaping the Global Precision Stainless Steel Market
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Growing Demand for Stainless Steel Foil
Industries such as medical, aerospace, defense, petrochemical, laboratory, nuclear, and marine are intensifying the demand for stainless steel foil as it is used to prevent surface decarburization and other contamination.
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Significant Growth in Emerging Economies
Manufacturing and service sectors are rapidly growing in emerging economies to fulfil the domestic demand. Emerging economies are estimated to lead the precision steel market in terms of production and consumption. China, India, Brazil, and Mexico are highly focused on precision steel production to fulfil the domestic demand.
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Growing Use of Stainless Steel Foil by Automotive Industry
Increasing demand for advanced high-strength steel (AHSS) from the automotive industry is likely to remain an important factor fueling the precision stainless steel market revenues. The processing industry is anticipated to remain among the key end users of precision stainless steel, particularly in form of precision stainless steel foil. While the automotive industry recorded the consumption volume of nearly 212 ‘000 tonnes of precision steel in 2018, which is expected to exceed 370 ‘000 tonnes towards the end of forecast period.
Precision Stainless Steel Market Structure Analysis
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The global precision stainless steel market is considered to be a consolidated market due to the presence of minimum regional players.
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Tier-1 players in the precision stainless steel market include Acerinox, Baoshan Iron & Steel Co., Ltd., AK Steel Corporation, Jindal Stainless Group, and Outokumpu Oyj.
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Leading manufacturers in the precision stainless steel market are expanding their production facilities and collaborating with peer companies to strengthen their foothold in the global market.
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In July 2018, Nippon Steel Corporation inaugurated Nippon Steel Cold Heading Wire Indiana Inc., a U.S.-based company manufacturing and selling steel wires for cold heading and forging.
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In November 2018, Jindal Stainless Group partnered with Indian Railways to modernize coaches, rail, and infrastructure.
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In October 2018, ArcelorMittal Mining Canada G.P. invested in mining and materials engineering R&D in the Faculty of Engineering at McGill University.
Market Set to Grow 1.5X between 2019 and 2029
Acceleration of the economic restructuring is resulting in the development of the high-tech and material industries. This proactively impacts the development and adoption of precision stainless steel, towed by the growth in household electrical appliances and domestic automobile industries. Developments in precision stainless steel complementarily promote advances in precision machinery & instruments and electronic equipment.Developing Markets Present Ceaseless Downstream Opportunities
The profitability of investing in developing markets, namely, South Asia and East Asia, for precision stainless steel manufacturers is here to stay. A confluence of macro trends including surging infrastructure development and construction activities abreast steady rise of the automotive sector in these markets, allude perennial downstream opportunities for precision stainless steel manufacturers. On the other hand, developed markets present steady gains for the stakeholders, upheld by the modest uptick in consumer goods sector and electro-mechanical component manufacturing.
* This data is only a representation. Actual data may vary and will be available in report.
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2014
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2019
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2022
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2029
The Broader Perspective
The unabated growth in stringency of environment protection and emission regulations has meant that reduced energy consumption and wastage are imperative for fabrication and manufacturing industries. Precision stainless steel serves a key enabler for both, while performing as a cost-effective metal along with its superior corrosion protection, lightweight, and cost-savings.
Steel of 0.1 mm to 0.4 mm thickness to account for over 3/4th share in 2019
Gains from steel of below 0.1 mm thickness remain sluggish
Revenues from automotive industry to grow at 6% CAGR through 2028
Aerospace and automotive industries remain lucrative, holding a collective share of over 40%
How Growth will Unfold
Prospects of the precision stainless steel market remain promising, with aerospace and automotive accounting for significant shares. Gains from these two industries are expected to grow relatively faster than other end-use sectors.
Food & Beverages | Automotive | Aerospace
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Precision Stainless Steel Market: Global Industry Analysis 2014-2018 & Opportunity Assessment 2019-2029
A recent market study published by FMI, “Precision Stainless Steel Market: Global Industry Analysis 2014-2018 & Forecast 2019-2029” offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical, as well as current growth parameters of the precision stainless steel market, the growth prospects of the market are obtained with maximum precision.
Precision Stainless Steel Market Taxonomy
The global precision stainless steel market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
By Thickness
- Below 0.1 mm
- 0.1 mm to 0.4 mm
By End-use Industry
- Food & Beverages
- Automotive
- Pharmaceuticals
- Aerospace
- Building & Construction
- Other Industrial
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
What's Included
The report commences with the executive summary of the precision stainless steel market, which includes a summary of the key findings and statistics of the market. It also includes dominating segments in the global precision stainless steel market, along-with key facts about precision stainless steel. It also includes graphical representation of the segments according to market size and growth rate.
Readers can find detailed taxonomy and definition of the precision stainless steel market in this chapter, which will help them understand the basic information about precision stainless steel present in the market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the precision stainless steel market report.
This section explains the global market value & volume analysis and forecast for the precision stainless steel market between 2019 and 2029. It includes the detailed analysis of the historical precision stainless steel market, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019 – 2020), and an incremental opportunity for the forecast period (2019 – 2029).
This section highlights the average pricing analysis of various thicknesses of precision stainless steel, in different regions across the globe. The weighted average pricing at the manufacturer-level is analyzed in this section.
This chapter explains the key macro-economic factors that are expected to influence the growth of the precision stainless steel market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the precision stainless steel market. This chapter also highlights the key market dynamics of the precision stainless steel market, which include the drivers and restraints. Moreover, readers will understand the key trends followed by the leading manufacturers in the precision stainless steel market. This section also covers Porter’s analysis, as well as the PESTLE analysis for the global precision stainless steel market.
Based on thickness, the precision stainless steel market is segmented into below 0.1 mm, and 0.1 to 0.4 mm. In this chapter, readers can find information about key attractive segments during the forecast period.
This chapter provides details about the precision stainless steel market on the basis of end-use industry, and has been classified into food & beverages, automotive, pharmaceuticals, aerospace, building & construction, and other industrial.
This chapter explains how the precision stainless steel market is expected to grow across various geographical regions, such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North American precision stainless steel market, along with a country-wise assessment that includes the U.S. and Canada. Readers will also find some of key points on the basis of estimated market size and consumption of precision stainless steel.
Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America precision stainless steel market. This chapter also includes the growth prospects of the Precision Stainless Steel market in leading LATAM countries such as Brazil, Mexico, Argentina, and the Rest of Latin America.
Important growth prospects of the precision stainless steel market based on the product and the end-user industry in several countries, such as Germany, the UK, France, Spain, Italy, Russia, BENELUX, Nordics, Poland and the Rest of Europe, are included in this chapter.
India, Indonesia, Thailand, Vietnam and Malaysia are the leading countries in the South Asia region that are the prime subjects of assessment to obtain the growth prospects of the South Asia precision stainless steel market in this chapter. Readers can find detailed information about the growth parameters of the South Asia precision stainless steel market during the period 2019-2029.
This chapter highlights the growth of the precision stainless steel market in East Asia by focusing on China, Japan, and South Korea. The section also highlights data points regarding the growth of the precision stainless steel market in the East Asian region.
In this chapter, Australia and New Zealand are among the leading countries in the Oceania region, which are the prime subjects of assessment to obtain the growth prospects of the Oceania precision stainless steel market.
This chapter provides information about how the precision stainless steel market will grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, Northern Africa, and the rest of MEA, during the forecast period 2019 - 2029.
In this chapter, separate analysis for emerging countries such as China, India, and Brazil is given. It provides segment level analysis of the precision stainless steel market for each country mentioned in the section.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the precision stainless steel market along with their market presence analysis by region and product portfolio.
In this chapter, readers will find a comprehensive list of all leading manufacturers in the precision stainless steel market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Nippon Steel Corporation, Jindal Stainless Group, ArcelorMittal SA, Aperam, Outokumpu Oyj, Kobe Steel, Ltd., Acerinox, AK Steel Corporation, Ulbrich Stainless Steels & Special Metals, Inc., and Baoshan Iron & Steel Co., Ltd. and among others.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the precision stainless steel report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information about the precision stainless steel market.
How the research was conducted?
Primary Research
Primary research interviews with key opinion leaders and other participants were conducted for data collection and validation of the below information:
- Key Segments in the Precision Stainless Steel Market
- Market Share Analysis
- Average Selling Price (US$) and Market Growth
- Comparative Analysis of Several Precision Stainless Steel Product Present in the Market
- Market Size
- Key Trends & Developments
- Competition & Key Vendor Strategies
Secondary Research
- Industry Journals
- World Steel Association
- International Stainless Steel Forum (ISSF)
- Import-Export Database
- Industry Association Publications (British Stainless Steel Association, Specialty Steel Industry of North America, Indian Steel Association)
- Annual Reports/SEC filings/Investor Presentations
Primary Interview Splits
Precision Stainless Steel Market Reports - Table of Contents
18. Assumptions and Acronyms Used
19. Research Methodology
Figure 01: Global Precision Stainless Steel Market Y-o-Y Analysis, by Thickness, 2015-2029
Figure 02: Global Precision Stainless Steel Market Attractiveness Analysis, by Thickness, 2019 (E) – 2029 (F)
Figure 03: Global Precision Stainless Steel Market Attractiveness Analysis, by End-user Industry, 2019 (E) – 2029 (F)
Figure 04: Global Precision Stainless Steel Market Y-o-Y Analysis, by End-user Industry, 2015-2029
Figure 05: Global Precision Stainless Steel Market Y-o-Y Analysis, by Region, 2015-2029
Figure 06: Global Precision Stainless Steel Market Attractiveness Analysis, by Region, 2019 (E) – 2029 (F)
Figure 07: North America Precision Stainless Steel Market Share and BPS Analysis, by Country, 2014, 2019 & 2029
Figure 08: North America Precision Stainless Steel Market Y-o-Y Analysis, by Country, 2015-2029
Figure 09: North America Precision Stainless Steel Market Attractiveness Analysis, by Country, 2019 (E) – 2029 (F)
Figure 10: North America Precision Stainless Steel Market Y-o-Y Analysis, by Thickness, 2015-2029
Figure 11: North America Precision Stainless Steel Market Attractiveness Analysis, by Thickness, 2019 (E) – 2029 (F)
Figure 12: North America Precision Stainless Steel Market Attractiveness Analysis, by End-user Industry, 2019 (E) – 2029 (F)
Figure 13: North America Precision Stainless Steel Market Y-o-Y Analysis, by End-user Industry, 2015-2029
Figure 14: Latin America Precision Stainless Steel Market Share and BPS Analysis, by Country, 2014, 2019 & 2029
Figure 15: Latin America Precision Stainless Steel Market Y-o-Y Analysis, by Country, 2015-2029
Figure 16: Latin America Precision Stainless Steel Market Attractiveness Analysis, by Country, 2019 (E) – 2029 (F)
Figure 17: Latin America Precision Stainless Steel Market Y-o-Y Analysis, by Thickness, 2015-2029
Figure 18: Latin America Precision Stainless Steel Market Attractiveness Analysis, by Thickness, 2019 (E) – 2029 (F)
Figure 19: Latin America Precision Stainless Steel Market Attractiveness Analysis, by End-user Industry, 2019 (E) – 2029 (F)
Figure 20: Latin America Precision Stainless Steel Market Y-o-Y Analysis, by End-user Industry, 2015-2029
Figure 21: Europe Precision Stainless Steel Market Share and BPS Analysis, by Country, 2014, 2019 & 2029
Figure 22: Europe Precision Stainless Steel Market Y-o-Y Analysis, by Country, 2015-2029
Figure 23: Europe Precision Stainless Steel Market Attractiveness Analysis, by Country, 2019 (E) – 2029 (F)
Figure 24: Europe Precision Stainless Steel Market Y-o-Y Analysis, by Thickness, 2015-2029
Figure 25: Europe Precision Stainless Steel Market Attractiveness Analysis, by Thickness, 2019 (E) – 2029 (F)
Figure 26: Europe Precision Stainless Steel Market Attractiveness Analysis, by End-user Industry, 2019 (E) – 2029 (F)
Figure 27: Europe Precision Stainless Steel Market Y-o-Y Analysis, by End-user Industry, 2015-2029
Figure 28: East Asia Precision Stainless Steel Market Share and BPS Analysis, by Country, 2014, 2019 & 2029
Figure 29: East Asia Precision Stainless Steel Market Y-o-Y Analysis, by Country, 2015-2029
Figure 30: East Asia Precision Stainless Steel Market Attractiveness Analysis, by Country, 2019 (E) – 2029 (F)
Figure 31: East Asia Precision Stainless Steel Market Y-o-Y Analysis, by Thickness, 2015-2029
Figure 32: East Asia Precision Stainless Steel Market Attractiveness Analysis, by Thickness, 2019 (E) – 2029 (F)
Figure 33: East Asia Precision Stainless Steel Market Attractiveness Analysis, by End-user Industry, 2019 (E) – 2029 (F)
Figure 34: East Asia Precision Stainless Steel Market Y-o-Y Analysis, by End-user Industry, 2015-2029
Figure 35: South Asia Precision Stainless Steel Market Share and BPS Analysis, by Country, 2014, 2019 & 2029
Figure 36: South Asia Precision Stainless Steel Market Y-o-Y Analysis, by Country, 2015-2029
Figure 37: South Asia Precision Stainless Steel Market Attractiveness Analysis, by Country, 2019 (E) – 2029 (F)
Figure 38: South Asia Precision Stainless Steel Market Y-o-Y Analysis, by Thickness, 2015-2029
Figure 39: South Asia Precision Stainless Steel Market Attractiveness Analysis, by Thickness, 2019 (E) – 2029 (F)
Figure 40: South Asia Precision Stainless Steel Market Attractiveness Analysis, by End-user Industry, 2019 (E) – 2029 (F)
Figure 41: South Asia Precision Stainless Steel Market Y-o-Y Analysis, by End-user Industry, 2015-2029
Figure 42: MEA Precision Stainless Steel Market Share and BPS Analysis, by Country, 2014, 2019 & 2029
Figure 43: MEA Precision Stainless Steel Market Y-o-Y Analysis, by Country, 2015-2029
Figure 44: MEA Precision Stainless Steel Market Attractiveness Analysis, by Country, 2019 (E) – 2029 (F)
Figure 45: MEA Precision Stainless Steel Market Y-o-Y Analysis, by Thickness, 2015-2029
Figure 46: MEA Precision Stainless Steel Market Attractiveness Analysis, by Thickness, 2019 (E) – 2029 (F)
Figure 47: MEA Precision Stainless Steel Market Attractiveness Analysis, by End-user Industry, 2019 (E) – 2029 (F)
Figure 48: MEA Precision Stainless Steel Market Y-o-Y Analysis, by End-user Industry, 2015-2029
Figure 49: Oceania Precision Stainless Steel Market Share and BPS Analysis, by Country, 2014, 2019 & 2029
Figure 50: Oceania Precision Stainless Steel Market Y-o-Y Analysis, by Country, 2015-2029
Figure 51: Oceania Precision Stainless Steel Market Attractiveness Analysis, by Country, 2019 (E) – 2029 (F)
Figure 52: Oceania Precision Stainless Steel Market Y-o-Y Analysis, by Thickness, 2015-2029
Figure 53: Oceania Precision Stainless Steel Market Attractiveness Analysis, by Thickness, 2019 (E) – 2029 (F)
Figure 54: Oceania Precision Stainless Steel Market Attractiveness Analysis, by End-user Industry, 2019 (E) – 2029 (F)
Figure 55: Oceania Precision Stainless Steel Market Y-o-Y Analysis, by End-user Industry, 2015-2029
Table 01: Global Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Thickness, 2014(A)-2029(F)
Table 02: Global Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by End-user Industry, 2014(A)-2029(F)
Table 03: Global Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Region, 2014(A)-2029(F)
Table 04: North America Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Country, 2014(A)-2029(F)
Table 05: North America Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Thickness, 2014(A)-2029(F)
Table 06: North America Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by End-user Industry, 2014(A)-2029(F)
Table 07: Latin America Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Country, 2014(A)-2029(F)
Table 08: Latin America Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Thickness, 2014(A)-2029(F)
Table 09: Latin America Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by End-user Industry, 2014(A)-2029(F)
Table 10: Europe Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Country, 2014(A)-2029(F)
Table 11: Europe Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Country, 2014(A)-2029(F)
Table 12: Europe Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Thickness, 2014(A)-2029(F)
Table 13: Europe Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by End-user Industry, 2014(A)-2029(F)
Table 14: East Asia Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Country, 2014(A)-2029(F)
Table 15: East Asia Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Thickness, 2014(A)-2029(F)
Table 16: East Asia Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by End-user Industry, 2014(A)-2029(F)
Table 17: South Asia Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Country, 2014(A)-2029(F)
Table 18: South Asia Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Thickness, 2014(A)-2029(F)
Table 19: South Asia Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by End-user Industry, 2014(A)-2029(F)
Table 20: MEA Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Country, 2014(A)-2029(F)
Table 21: MEA Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Thickness, 2014(A)-2029(F)
Table 22: MEA Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by End-user Industry, 2014(A)-2029(F)
Table 23: Oceania Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Country, 2014(A)-2029(F)
Table 24: Oceania Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by Thickness, 2014(A)-2029(F)
Table 25: Oceania Precision Stainless Steel Market Value (US$ Mn) and Volume (Tonnes) Forecast by End-user Industry, 2014(A)-2029(F)
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