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India Stainless Steel Industry Outlook from 2024 to 2034

In its latest report, Future Market Insights (FMI) estimates the India stainless industry size to reach US$ 17,452.5 million in 2024. Rapid industrialization and expansion of automotive sector will provide additional thrust to the industry, with sales set to surge at 6.2% CAGR.

Total stainless steel revenue in India is forecast to reach US$ 31,905.2 million by 2034, indicating over 1.8X growth. Booming construction and automotive sectors will improve India’s stainless steel industry share through 2034. Key players can capitalize on emerging opportunities by offering high-quality stainless steel at lower prices.

Attributes Key Insights
Base Value in 2023 US$ 16,486.7 million
India Stainless Steel Industry Value in 2024 US$ 17,452.5 million
Predicted Stainless Steel Industry Revenue in India (2034) US$ 31,905.2 million
Value-based CAGR (2024 to 2034) 6.2%
Collective Value Share: Top 5 States (2024E) 43.2%

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Key Highlights for India Stainless Steel Industry Report

Revenue to Grow Over 1.8X through 2034

As per the latest analysis, stainless steel revenue in India is forecast to grow by 1.8X through 2034, amid a 1.8% surge in predicted CAGR compared to the historical one. This is attributable to rising stainless steel usage across diverse industries, including automotive and construction.

Stainless steel consumption in India will also rise because of robust industrialization, growing authorities’ expenditure for infrastructure improvement, and developing city populace. By 2034, the total revenue in India is set to reach US$ 31,905.2 million.

West India to Remain the Hotbed for Stainless Steel Manufacturers

As per the latest analysis, West India remains the prominent consumer of stainless steel. It is set to hold around 43.0% of the India stainless steel industry share in 2034. This is attributed to the following factors:

Proximity to Raw Materials: States like Gujarat and Maharashtra in West India are strategically located near major ports and have access to abundant resources like iron ore and nickel, essential for stainless steel production. This proximity minimizes transportation costs and ensures a steady supply chain, providing a competitive advantage to manufacturers in the region.

Growing Industrial Infrastructure: West India boasts robust industrial infrastructure, including Special Economic Zones (SEZs), industrial parks, and manufacturing clusters. Cities like Ahmedabad, Surat, and Mumbai are home to numerous stainless steel plants benefiting from skilled labor, supportive government policies, and investment-friendly environments, fueling growth and innovation in the sector.

Presence of Diverse End-user Industries: The region hosts a diverse range of end-user industries, including automotive, petrochemicals, construction, and pharmaceuticals, all of which require stainless steel for various applications. This diverse industrial base creates a sustained demand for stainless steel products, driving continuous growth and investment in manufacturing facilities in West India.

Export Opportunities: West India's proximity to major ports like Mundra, Nhava Sheva, and Kandla facilitates export opportunities, enabling stainless steel manufacturers to access international markets efficiently. This strategic advantage, coupled with the region's well-developed transportation infrastructure, positions West India as a key player in the global stainless steel trade.

Austenitic Stainless Steel Remains Top-selling Type in India

Austenitic stainless steel has become widely used in India, holding a volume share of about 72.7% in 2024. This can be attributed to its versatility, flexibility, cost-effectiveness, and other advantages.

Austenitic stainless steel can be easily formed into sheets, increasing its application spectrum. Its welding ability also helps in diversifying its application portfolios, from any shape and design without sacrificing structural integrity. This makes it suitable for various manufacturing processes such as forging, machining, and fabrication.

Austenitic stainless steel shows good strength and toughness even at high temperatures. This is making it an ideal choice for heat-sensitive uses, such as air filters in industries, industrial furnaces, and aerospace spare parts. Similarly, the high corrosion-resistant properties of this stainless steel type enhance its popularity.

Overview of the India Stainless Steel Industry in India

India’s growing manufacturing and infrastructure sectors are key factors boosting growth of the stainless steel industry. Stainless steel is commonly used in the manufacture of building materials, roofing, textiles, and furniture because of its durability, corrosion resistance, and aesthetic properties.

Stainless steel also finds application in the chemical, oil, gas, food processing and pharmaceutical industries due to its thermal and corrosion resistance. Thus, rapid industrial growth across India will continue to propel demand for stainless steel products.

Indian government has launched initiatives like 'Make in India' as well as infrastructure projects, including the Smart Cities Mission. These initiatives and projects are set to positively influence stainless steel manufacturing in India.

India is also developing as a primary player in stainless-steel exports due to its low manufacturing and lower costs. On the other hand, fluctuation in raw material prices could restrain India's stainless steel industry growth.

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2019 to 2023 Stainless Steel Sales Outlook in India Vs. Future Forecast

Sales of stainless steel in India increased at a CAGR of 4.4% between 2019 and 2023. Total revenue reached about US$ 16,486.7 million in 2023. From 2024 to 2034, India’s stainless steel demand is set to grow at a CAGR of 6.2%.

Historical CAGR (2019 to 2023) 4.4%
Forecast CAGR (2024 to 2034) 6.2%

High penetration of industrialization is acting as a catalyst triggering growth of India stainless steel industry. This is because stainless steel is widely used in the industrial sector for making different parts, components, and equipment.

Robust expansion of automotive industry is set to create lucrative growth opportunities for stainless steel manufacturers in India. Subsequently, growing popularity of stainless steel kitchenware due to its hygiene, aesthetic appeal, and durability will boost stainless steel fabrication industry in India.

Stainless Steel Sector Dynamics in India

Growing Demand from Automotive and Transportation Sector

The automotive and transportation industry is witnessing high adoption of stainless steel due to its exceptional properties. Stainless steel’s corrosion resistance, tensile strength, durability and aesthetics are encouraging in motors’ parts and structural components.

Stainless steel is widely used for exhaust systems, catalytic converters, gas tanks, brake strains, chassis or frames and body panels within the vehicle industry. They are very precious in exhaust structures as they operate at high temperatures and come into contact with corroding gasses.

The high electricity-to-weight ratio of stainless steel allows lighter vehicles to be designed without sacrificing protection or performance. Similarly, stainless steel is selected for luxurious car decorative trims, including grilles and indoor accents, because of its esthetic enchantment and long-lasting look.

Stainless steel is also used in rail tracks, bridges, and rolling inventory in the transportation domain. This is due to its corrosion resistance and structural stability. Thus, rising stainless steel applications in the automotive and transportation sectors will fuel sales growth.

Booming Building & Construction Sector

A significant demand for stainless steel arises from the constructing and construction industry. Its resistance to corrosion, sturdiness, aesthetics, and eco-friendliness have made it a famous choice of architects and engineers for various construction tasks.

Stainless steel is used in beams, columns, and reinforcing bars in the construction industry. The fact that stainless steel has an excessive electricity-to-weight ratio and does not rust makes it a very good material for making the structural components of both residential houses and commercial buildings.

Stainless steel is also commonly used in architectural applications like façades, cladding, and roofing. Its aesthetic appeal, versatility, and capacity to resist harsh climatic situations make it suitable for architectural designs.

Rising Demand from Industrial Machinery and Components

Another key factor fueling stainless steel demand is its rising usage in industrial machinery and components. Because of its strength, resistance to corrosion, thermal balance, and adaptability, stainless steel is becoming ideal for manufacturing industrial equipment and components.

Many commercial equipment and tooling components, such as cutting gear, dies, molds, and punches, are crafted from stainless steel. Because of its hardness, toughness, and resistance to wear, stainless steel is a superb material for machining, stamping, and forming operations.

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Key Factors Restraining India Stainless Steel Industry Growth

Supply Disruptions and Massive Fluctuation in Steel Prices

The disruption in supply channels and significant price fluctuations are the major constraints faced by the stainless steel industry. Differences in demand dynamics, excess inventory caused by broadened production, and greater economic uncertainty are often the causes of these fluctuations.

Comparative View of Adjacent Industries

The section comprehensively evaluates three interrelated industries: India's stainless steel sector, the iron ore pellet industry, and the global stainless steel industry. It provides distinctive characteristics of each industry, including their CAGRs, while delving into the pivotal factors that influence their growth trajectories.

Analysis of the Indian Stainless Steel Industry:

Attributes India Stainless Steel Industry Forecast
CAGR (2024 to 2034) 6.2%
Growth Factor Growing demand for stainless steel from construction, automotive, aerospace, and consumer appliance industries is driving sales growth.
Key Trends in the Stainless Steel Industry in India Key trends shaping the industry include rising popularity of electric vehicles and growing focus on sustainability.

Iron Ore Pellet Industry Outlook:

Attributes Iron Ore Pellet Sales Forecast
CAGR (2024 to 2034) 7.9%
Growth Factor Escalating demand for steel from several industries is fueling sales.
Key Trends in Iron Ore Pellet Industry Key trends include growing popularity of high-grade iron ore and adoption of cleaner production technologies.

Global Stainless Steel Industry Analysis:

Attributes Global Stainless Steel Industry Outlook
CAGR (2024 to 2034) 5.5%
Growth Factor High consumption of stainless steel in the construction, automotive, and electronics sectors is propelling sales growth.
Key Trend Growing expenditure on infrastructure projects by various governments will support industry expansion.

State-wise Insights

The table below highlights key states’ stainless steel industry revenues. Maharashtra, Tamil Nadu, and Uttar Pradesh are set to remain the top three consumers of stainless steel, with valuations of US$ 2433.4 million, US$ 1399.3 million, and US$ 1241.3 million, respectively, in 2034.

States Stainless Steel Industry Revenue (2034)
Maharashtra US$ 2433.4 million
Tamil Nadu US$ 1399.3 million
Uttar Pradesh US$ 1241.3 million
Karnataka US$ 1209.8 million
Haryana US$ 991.7 million
Gujrat US$ 842.3 million

The table below shows the estimated growth rates of the top five countries. Goa, Punjab, and Rajasthan are set to record high CAGRs of 7.7%, 7.4%, and 7.4%, respectively, through 2034.

States Stainless Steel Industry CAGR (2024 to 2034)
Goa 7.7%
Punjab 7.4%
Rajasthan 7.4%
Karnataka 7.2%
Telangana 6.9%
Haryana 6.8%

Growing Industrial Sector and Urbanization Fueling Demand in the Maharashtra

FMI’s new report estimates the Maharashtra stainless steel industry size to reach US$ 2433.4 million by 2034. Demand for stainless steel in Maharashtra is set to rise at 6.1% CAGR between 2024 and 2034.

Maharashtra is the industrial hub of India with production industries such as aerospace, engineering, and automotive witnessing strong growth. This, in turn, is uplifting stainless steel demand in the state as these industries often use stainless steel for different purposes.

With its massive coastline, Maharashtra is home to vital ports, including Ratnagiri Port, Jawaharlal Nehru Port (Nhava Sheva), and Mumbai Port. Due to this key location, the state can import raw materials, and export completed stainless-steel merchandise greater profitably, thereby assisting the expansion of the stainless-steel sector.

Many well-known manufacturers of stainless steel, like Mukand Limited and Jindal Stainless, are based totally in Maharashtra. Through innovation, product diversification, and industry penetration, these companies help Maharashtra hold its dominance in India.

Favorable government support is also playing a key role in enhancing the stainless steel industry share of Maharashtra. The state government is launching various initiatives, such as 'Make in Maharashtra', prompting stainless steel manufacturers to establish their business in the state.

Tamil Nadu Becoming a Highly Lucrative Pocket for Manufacturers

Sales of stainless steel in Tamil Nadu are forecast to soar at a CAGR of around 5.5%, resulting in a valuation of US$ 1399.3 million by 2034. This can be attributed to expansion of industries like automotive and construction in the states.

Leading automakers like Hyundai, Ford, and Renault-Nissan are primarily based in Tamil Nadu, a huge hub for automotive production in India. This expansion of auto sector is positively impacting sales of stainless steel as it is widely used for making body panels, gasoline tanks, and exhaust structures.

Infrastructure in Tamil Nadu is growing quickly, creating demand for various stainless steel-based products. Because stainless steel is robust, shiny, and corrosion-resistant, it is often utilized in infrastructure projects, including strength plant life, bridges, and railroad stations.

Category-wise Insights

The section below shows the austenitic stainless steel segment dominating the stainless steel sector in India. It is forecast to record a CAGR of 6.1% between 2024 and 2034, prompting stainless steel manufacturers to invest in this product type to succeed.

Versatility of Austenitic Stainless Steel Propelling its Demand

Top Segment (Type) Austenitic Stainless Steel
CAGR (2024 to 2034) 6.1%

Despite availability of different stainless steel types, end users mostly prefer austenitic stainless steel, with its usage set to increase at 6.1% CAGR. This can be attributed to its versatility, high corrosion resistance, and other properties. It will generate revenue of about US$ 8,589 million by 2034.

Austenitic stainless steel is more immune to corrosion than other types. This makes it ideal to be used in harsh conditions like the ones found within the metal processing, chemical, and maritime sectors.

Austenitic stainless steel is effortlessly fabricated right into different shapes and designs due to its terrific formability, weldability, and ductility. Because of its adaptability, it can be utilized in a number of sectors, including automobile and domestic home equipment.

Austenitic chrome steel is appropriate for applications requiring thermal stability, including warmness exchangers, cryogenic tanks, and excessive-temperature equipment. This is because it keeps its mechanical features at low and high temperatures.

The smooth surface finish of austenitic stainless steel makes it easy to clean and maintain, meeting stringent hygiene requirements in industries like pharmaceuticals, healthcare, and food processing. Hence, it is forecast to hold a significant volume share of 72.9% in 2024.

India Stainless Steel Industry Competition

The Indian stainless steel industry displays a noticeable dualistic pattern, as major players secure a substantial share, estimated at around 55% to 53%. Key industry frontrunners such as Arcelor Mittal, Jindal Stainless Limited, and Nippon Steel Corporation significantly influence the industry dynamics.

A considerable share ranging from 40% to 45% is distributed among other participants. This underscores a diverse terrain characterized by emerging contenders and specialized niche players.

Key manufacturers of stainless steel in India are investing in research and development for product innovation and development in the technology. They are concentrating on producing high-grade stainless steel with extra corrosion resistance and other enhanced features.

Well-structured and efficient supply chain networks, acquisitions, partnerships, and collaborations with other companies are other growth strategies employed by players. They are also making long-term agreements with the distributors and traders to maintain and increase revenue.

Recent Developments in India's Stainless Steel Industry

  • In March 2024, Jindal Stainless Limited, a prominent stainless steel manufacturer in India, supplied around 1000 tons of 316L grade stainless steel for the construction of new UIIC building.
  • In August 2019, Mishra Dhatu Nigam Limited and Aluminum Company Limited incorporated a Joint venture company, Utkarsha Aluminum Dhatu Nigam Limited, for a green field project of High-end Aluminum products.

Key Coverage in India Stainless Steel Industry Research Report

  • Adjacent Study on Global Carbon Steel Market and Electric Steel Market
  • The Present and the Future of the Stainless Steel Market in India
  • Future Scope of Stainless Steel Processing Sector in India
  • Government Policies Impacting the Stainless Steel Industry in India
  • Challenges Faced by the Stainless Steel Sector in India
  • Growth Prospects of the Stainless Steel Industry in India
  • Top Companies in the Indian Stainless Steel Manufacturing industry

India Stainless Steel Industry Research Scope

Attribute Details
Industry Value in 2024 US$ 17,452.5 million
Industry Size in 2034 US$ 31,905.2 million
Growth Rate (2024 to 2034) 6.2% CAGR
Historical Data 2019 to 2023
Forecast Period 2024 to 2034
Quantitative Units Value (US$ million) and Volume (million tons)
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Key Segments Covered
  • Type
  • Form
  • Grade
  • End-use
Key Countries Covered India
Key Companies Profiled
  • Arcelor Mittal
  • Nippon Steel Corporation
  • Baosteel Group Corporation.
  • Baowu Steel Group Corporation Limited
  • JFE Steel Corporation
  • Jindal Stainless Limited
  • Tata Steel Limited
  • Posco International
  • Steel Authority of India Limited
  • JSW Steel Limited
  • Mangalam Worldwide Limited
  • Mishra Dhatu Nigam Limited
  • Mittal Corp Limited
  • Mukand Limited
  • Outokumpu India Pvt Ltd
  • Panchmahal Steel Ltd
  • Shah Alloys Ltd
  • Shyam Sel & Power Limited
  • Star Wire (India) Limited
  • Sunflag Iron & Steel Co Ltd
  • Synergy Steels Limited
  • Vikas Hitech Castings
  • Welspun Specialty Solutions Ltd
  • DeTech Pumps Works
  • Ambica Steels Limited
  • Viraj Profiles Limited
  • Hisar Metal Industries Limited
  • BRG Group
  • Ratnamani Metals & Tubes Ltd.
  • Rimjhim Stainless Ltd.
  • Adhunik Metalliks
  • Panchmahal Steels, Ltd.
  • Avtar Steel Ltd.
  • Laxcon Steels Limited

India Stainless Steel Industry Segmentation

By Type:

  • Austenitic Stainless Steel
  • Ferritic Stainless Steel
  • Duplex Stainless Steel
  • Martensitic Stainless Steel
  • Precipitation Hardening Stainless Steel

By Form:

  • Flat Products
  • Long Products

By Grade:

  • 200 Series
  • 300 Series
  • 400 Series
  • Other Grades

By End-use:

  • Building & Construction
  • Industrial Machinery & Components
  • Automotive & Transportation
  • Consumer Goods
  • Medical & Surgical Tools
  • Aerospace & Defense
  • Marine
  • Oil & Gas
  • Other End-uses

By Region:

  • North India
  • East India
  • West India
  • South India

Frequently Asked Questions

What is the size of stainless steel industry in India?

India stainless steel industry size is set to reach US$ 17,452.5 million in 2024.

What is the demand for stainless steel in India?

Stainless steel demand in India is predicted to rise at 6.2% CAGR through 2034.

What is the future of stainless steel in India?

India stainless steel industry value is set to reach US$ 31,905.2 million by 2034.

Who is the largest manufacturer of stainless steel in India?

Jindal Stainless Limited.

What was the historical CAGR of the target industry?

India stainless steel industry recorded a CAGR of 4.4% from 2019 to 2023.

Which company stainless steel is best in India?

Stainless steel of Arcelor Mittal, Jindal Stainless Limited, and Tata Steel Limited is popular.

Table of Content

1. Executive Summary

    1.1. Industry Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Technology Roadmap

    1.5. Analysis and Recommendations

2. Industry Overview

    2.1. Industry Coverage / Taxonomy

    2.2. Industry Definition / Scope / Limitations

3. Key Industry Trends

    3.1. Key Trends Impacting the Industry

    3.2. Product Innovation / Development Trends

4. Key Success Factors

    4.1. Product Adoption / Usage Analysis

    4.2. Product USP’s / Features

    4.3. Strategic Promotional Strategies

5. Industry Demand Analysis 2019 to 2023 and Forecast, 2024 to 2034

    5.1. Historical Industry Volume (Tons) Analysis, 2019 to 2023

    5.2. Current and Future Industry Volume (Tons) Projections, 2024 to 2034

    5.3. Y-o-Y Growth Trend Analysis

6. Industry - Pricing Analysis

    6.1. Regional Pricing Analysis By Type

    6.2. India Average Pricing Analysis Benchmark

7. Industry Demand (in Value or Size in US$ million) Analysis 2019 to 2023 and Forecast, 2024 to 2034

    7.1. Historical Industry Value (US$ million) Analysis, 2019 to 2023

    7.2. Current and Future Industry Value (US$ million) Projections, 2024 to 2034

        7.2.1. Y-o-Y Growth Trend Analysis

        7.2.2. Absolute $ Opportunity Analysis

8. Industry Background

    8.1. Macro-Economic Factors

        8.1.1. India GDP Growth Outlook

        8.1.2. India Chemical Industry Overview

        8.1.3. Manufacturing Value-Added

        8.1.4. Industry Value Added

        8.1.5. Parent Industry Outlook

        8.1.6. Other Macro-Economic Factors

    8.2. Forecast Factors - Relevance and Impact

        8.2.1. Top Companies Historical Growth

        8.2.2. GDP Growth Forecast

        8.2.3. Manufacturing Industry Forecast

        8.2.4. India Urbanization Growth Outlook

        8.2.5. End-use Industry Growth Outlook

        8.2.6. Other Forecast Factors

    8.3. Value Chain

        8.3.1. Product Manufacturers

        8.3.2. End Users

        8.3.3. Avg. Profitability Margins

    8.4. COVID-19 Crisis to Impact Assessment

        8.4.1. Current Statistics

        8.4.2. Short-Mid-Long Term Outlook

        8.4.3. Likely Rebound

    8.5. Industry Dynamics

        8.5.1. Drivers

        8.5.2. Restraints

        8.5.3. Opportunity Analysis

    8.6. India Supply Demand Analysis

    8.7. Key Regulations and Certifications

    8.8. Production Process Overview

    8.9. Trade Scenario

9. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 

    9.1. Introduction / Key Findings

    9.2. Historical Industry Size (US$ million) and Volume Analysis By Type, 2019 to 2023

    9.3. Current and Future Industry Size (US$ million) and Volume Analysis and Forecast By Type, 2024 to 2034

        9.3.1. Austenitic Stainless Steel

        9.3.2. Ferritic Stainless Steel

        9.3.3. Duplex Stainless Steel

        9.3.4. Martensitic Stainless Steel

        9.3.5. Precipitation Hardening Stainless Steel

    9.4. Industry Attractiveness Analysis By Type

10. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Form

    10.1. Introduction / Key Findings

    10.2. Historical Industry Size (US$ million) and Volume Analysis By Form, 2019 to 2023

    10.3. Current and Future Industry Size (US$ million) and Volume Analysis and Forecast By Form, 2024 to 2034

        10.3.1. Flat Products

        10.3.2. Long Products

    10.4. Industry Attractiveness Analysis By Form

11. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By Grade 

    11.1. Introduction / Key Findings

    11.2. Historical Industry Size (US$ million) and Volume Analysis By Grade, 2019 to 2023

    11.3. Current and Future Industry Size (US$ million) and Volume Analysis and Forecast By Grade, 2024 to 2034

        11.3.1. 200 Series

        11.3.2. 300 Series

        11.3.3. 400 Series

        11.3.4. Other Grades

    11.4. Industry Attractiveness Analysis By Grade

12. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use

    12.1. Introduction / Key Findings

    12.2. Historical Industry Size (US$ million) and Volume Analysis By End Use, 2019 to 2023

    12.3. Current and Future Industry Size (US$ million) and Volume Analysis and Forecast By End Use, 2024 to 2034

        12.3.1. Building and Construction

        12.3.2. Industrial Machinery and Components

        12.3.3. Automotive and Transportation

        12.3.4. Consumer Goods

        12.3.5. Medical and Surgical Tools

        12.3.6. Aerospace and Defense

        12.3.7. Marine

        12.3.8. Oil and Gas

        12.3.9. Other End Uses

    12.4. Industry Attractiveness Analysis By End Use

13. Industry Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region

    13.1. Introduction

    13.2. Historical Industry Size (US$ million) and Volume Analysis By Region, 2019 to 2023

    13.3. Current Industry Size (US$ million) and Volume Analysis and Forecast By Region, 2024 to 2034

        13.3.1. North India

        13.3.2. South India

        13.3.3. East India

        13.3.4. West India

    13.4. Industry Attractiveness Analysis By Region

14. North Industry Analysis 2019 to 2023 and Forecast 2024 to 2034

    14.1. Introduction

    14.2. Pricing Analysis

    14.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Industry Taxonomy, 2019 to 2023

    14.4. Industry Size (US$ million) and Volume Forecast By Industry Taxonomy, 2024 to 2034

        14.4.1. By State

            14.4.1.1. Punjab

            14.4.1.2. Haryana

            14.4.1.3. Uttar Pradesh

            14.4.1.4. Rest of North India

        14.4.2. By Type

        14.4.3. By Form

        14.4.4. By Grade

        14.4.5. By End Use

    14.5. Industry Attractiveness Analysis

        14.5.1. By State

        14.5.2. By Type

        14.5.3. By Form

        14.5.4. By Grade

        14.5.5. By End Use

    14.6. Industry Trends

    14.7. Key Industry Participants - Intensity Mapping

    14.8. Drivers and Restraints - Impact Analysis

15. South Industry Analysis 2019 to 2023 and Forecast 2024 to 2034

    15.1. Introduction

    15.2. Pricing Analysis

    15.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Industry Taxonomy, 2019 to 2023

    15.4. Industry Size (US$ million) and Volume Forecast By Industry Taxonomy, 2024 to 2034

        15.4.1. By State

            15.4.1.1. Andhra Pradesh

            15.4.1.2. Telangana

            15.4.1.3. Karnataka

            15.4.1.4. Tamil Nadu

            15.4.1.5. Rest of South India

        15.4.2. By Type

        15.4.3. By Form

        15.4.4. By Grade

        15.4.5. By End Use

    15.5. Industry Attractiveness Analysis

        15.5.1. By State

        15.5.2. By Type

        15.5.3. By Form

        15.5.4. By Grade

        15.5.5. By End Use

    15.6. Industry Trends

    15.7. Key Industry Participants - Intensity Mapping

    15.8. Drivers and Restraints - Impact Analysis

16. East Industry Analysis 2019 to 2023 and Forecast 2024 to 2034

    16.1. Introduction

    16.2. Pricing Analysis

    16.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Industry Taxonomy, 2019 to 2023

    16.4. Industry Size (US$ million) and Volume Forecast By Industry Taxonomy, 2024 to 2034

        16.4.1. By State

            16.4.1.1. Bihar

            16.4.1.2. Jharkhand

            16.4.1.3. West Bengal

            16.4.1.4. Rest of East India

        16.4.2. By Type

        16.4.3. By Form

        16.4.4. By Grade

        16.4.5. By End Use

    16.5. Industry Attractiveness Analysis

        16.5.1. By State

        16.5.2. By Type

        16.5.3. By Form

        16.5.4. By Grade

        16.5.5. By End Use

    16.6. Industry Trends

    16.7. Key Industry Participants - Intensity Mapping

    16.8. Drivers and Restraints - Impact Analysis

17. West Industry Analysis 2019 to 2023 and Forecast 2024 to 2034

    17.1. Introduction

    17.2. Pricing Analysis

    17.3. Historical Industry Size (US$ million) and Volume Trend Analysis By Industry Taxonomy, 2019 to 2023

    17.4. Industry Size (US$ million) and Volume Forecast By Industry Taxonomy, 2024 to 2034

        17.4.1. By State

            17.4.1.1. Rajasthan

            17.4.1.2. Gujarat

            17.4.1.3. Maharashtra

            17.4.1.4. Goa

        17.4.2. By Type

        17.4.3. By Form

        17.4.4. By Grade

        17.4.5. By End Use

    17.5. Industry Attractiveness Analysis

        17.5.1. By State

        17.5.2. By Type

        17.5.3. By Form

        17.5.4. By Grade

        17.5.5. By End Use

    17.6. Industry Trends

    17.7. Key Industry Participants - Intensity Mapping

    17.8. Drivers and Restraints - Impact Analysis

18. State-wise Industry Analysis 

    18.1. Introduction

        18.1.1. Industry Value Proportion Analysis, By Key State

        18.1.2. India Vs. State Growth Comparison

    18.2. Punjab Industry Analysis

        18.2.1. By Type

        18.2.2. By Form

        18.2.3. By Grade

        18.2.4. By End Use

    18.3. Haryana Industry Analysis

        18.3.1. By Type

        18.3.2. By Form

        18.3.3. By Grade

        18.3.4. By End Use

    18.4. Uttar Pradesh Industry Analysis

        18.4.1. By Type

        18.4.2. By Form

        18.4.3. By Grade

        18.4.4. By End Use

    18.5. Andhra Pradesh Industry Analysis

        18.5.1. By Type

        18.5.2. By Form

        18.5.3. By Grade

        18.5.4. By End Use

    18.6. Telangana Industry Analysis

        18.6.1. By Type

        18.6.2. By Form

        18.6.3. By Grade

        18.6.4. By End Use

    18.7. Karnataka Industry Analysis

        18.7.1. By Type

        18.7.2. By Form

        18.7.3. By Grade

        18.7.4. By End Use

    18.8. Tamil Nadu Industry Analysis

        18.8.1. By Type

        18.8.2. By Form

        18.8.3. By Grade

        18.8.4. By End Use

    18.9. Bihar Industry Analysis

        18.9.1. By Type

        18.9.2. By Form

        18.9.3. By Grade

        18.9.4. By End Use

    18.10. Jharkhand Industry Analysis

        18.10.1. By Type

        18.10.2. By Form

        18.10.3. By Grade

        18.10.4. By End Use

    18.11. West Bengal Industry Analysis

        18.11.1. By Type

        18.11.2. By Form

        18.11.3. By Grade

        18.11.4. By End Use

    18.12. Rajasthan Industry Analysis

        18.12.1. By Type

        18.12.2. By Form

        18.12.3. By Grade

        18.12.4. By End Use

    18.13. Gujarat Industry Analysis

        18.13.1. By Type

        18.13.2. By Form

        18.13.3. By Grade

        18.13.4. By End Use

    18.14. Maharashtra Industry Analysis

        18.14.1. By Type

        18.14.2. By Form

        18.14.3. By Grade

        18.14.4. By End Use

    18.15. Goa Industry Analysis

        18.15.1. By Type

        18.15.2. By Form

        18.15.3. By Grade

        18.15.4. By End Use

19. Industry Structure Analysis

    19.1. Industry Analysis by Tier of Companies

    19.2. Industry Concentration

    19.3. Industry Share Analysis of Top Players

    19.4. Production Capacity Analysis

    19.5. Industry Presence Analysis

        19.5.1. By Product Footprint of Players

        19.5.2. By Regional Footprint of Players

        19.5.3. By Application Footprint of Players

20. Competition Analysis

    20.1. Competition Dashboard

    20.2. Competition Benchmarking

    20.3. Competition Deep Dive

        20.3.1. Arcelor Mittal

            20.3.1.1. Overview

            20.3.1.2. Product Portfolio

            20.3.1.3. Profitability by Industry Segments (Type/Form/Grade/End Use/Region)

            20.3.1.4. Sales Footprint

            20.3.1.5. Strategy Overview

        20.3.2. Nippon Steel Corporation

        20.3.3. Baosteel Group Corporation.

        20.3.4. Baowu Steel Group Corporation Limited

        20.3.5. JFE Steel Corporation

        20.3.6. Jindal Stainless Limited

        20.3.7. Tata Steel Limited

        20.3.8. Posco International

        20.3.9. Steel Authority of India Limited

        20.3.10. JSW Steel Limited

        20.3.11. Mangalam Worldwide Limited

        20.3.12. Mishra Dhatu Nigam Limited

        20.3.13. Mittal Corp Limited

        20.3.14. Mukand Limited

        20.3.15. Outokumpu India Pvt Ltd

        20.3.16. Panchmahal Steel Ltd

        20.3.17. Shah Alloys Ltd

        20.3.18. Shyam Sel and Power Limited

        20.3.19. Star Wire (India) Limited

        20.3.20. Sunflag Iron and Steel Co Ltd

        20.3.21. Synergy Steels Limited

        20.3.22. Vikas Hitech Castings

        20.3.23. Welspun Specialty Solutions Ltd

        20.3.24. DeTech Pumps Works

        20.3.25. Ambica Steels Limited

        20.3.26. Viraj Profiles Limited

        20.3.27. Hisar Metal Industries Limited

        20.3.28. BRG Group

        20.3.29. Ratnamani Metals and Tubes Ltd.

        20.3.30. Rimjhim Stainless Ltd.

        20.3.31. Adhunik Metalliks

        20.3.32. Panchmahal Steels, Ltd.

        20.3.33. Avtar Steel Ltd.

        20.3.34. Laxcon Steels Limited

21. Primary Insights

22. Assumptions and Acronyms Used

23. Research Methodology

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List of Tables

Table 01: North Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Country, 2019 to 2034

Table 02: South Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Country, 2019 to 2034

Table 03: East Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Country, 2019 to 2034

Table 04: West Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Country, 2019 to 2034

Table 05: Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Type, 2019 to 2034

Table 06: Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Form, 2019 to 2034

Table 07: Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Grade, 2019 to 2034

Table 08: Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By End Use, 2019 to 2034

Table 09: Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Region, 2019 to 2034

Table 10: North Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Type, 2019 to 2034

Table 11: North Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Form, 2019 to 2034

Table 12: North Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Grade, 2019 to 2034

Table 13: North Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By End Use, 2019 to 2034

Table 14: South Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Type, 2019 to 2034

Table 15: South Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Form, 2019 to 2034

Table 16: South Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Grade, 2019 to 2034

Table 17: South Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By End Use, 2019 to 2034

Table 18: East Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Type, 2019 to 2034

Table 19: East Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Form, 2019 to 2034

Table 20: East Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Grade, 2019 to 2034

Table 21: East Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By End Use, 2019 to 2034

Table 22: West Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Type, 2019 to 2034

Table 23: West Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Form, 2019 to 2034

Table 24: West Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By Grade, 2019 to 2034

Table 25: West Industry Size (US$ million) and Volume (Tons) Analysis and Forecast By End Use, 2019 to 2034
Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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List of Charts

Figure 01: Industry Historical Volume (KT), 2019 to 2023

Figure 02: Industry Current and Forecast ( Volume), 2024 to 2034

Figure 03: Historical Industry Size (US$ million) 2019 to 2023

Figure 04: Value (US$ million) Forecast, 2024 to 2034

Figure 05: Absolute $ Opportunity, 2019 to 2024 to 2034

Figure 06: Industry Share and BPS Analysis By Type, 2024 to 2034

Figure 07: Industry Y-o-Y Growth Projections By Type, 2024 to 2034

Figure 08: Industry Attractiveness Analysis By Type, 2024 to 2034

Figure 09: Industry Absolute $ Opportunity by Austenitic Stainless Steel Segment, 2019 to 2034

Figure 10: Industry Absolute $ Opportunity by Ferritic Stainless Steel Segment, 2019 to 2034

Figure 11: Industry Absolute $ Opportunity by Duplex Stainless Steel Segment, 2019 to 2034

Figure 12: Industry Absolute $ Opportunity by Martensitic Stainless Steel Segment, 2019 to 2034

Figure 13: Industry Absolute $ Opportunity by Precipitation Hardening Stainless Steel Segment, 2019 to 2034

Figure 14: Industry Share and BPS Analysis By Form, 2024 to 2034

Figure 15: Industry Y-o-Y Growth Projections By Form, 2024 to 2034

Figure 16: Industry Attractiveness Analysis By Form, 2024 to 2034

Figure 17: Industry Absolute $ Opportunity by Flat Products Segment, 2019 to 2034

Figure 18: Industry Absolute $ Opportunity by Long Products Segment, 2019 to 2034

Figure 19: Industry Share and BPS Analysis By Grade, 2024 to 2034

Figure 20: Industry Y-o-Y Growth Projections By Grade, 2024 to 2034

Figure 21: Industry Attractiveness Analysis By Grade, 2024 to 2034

Figure 22: Industry Absolute $ Opportunity by 200 Series Segment, 2019 to 2034

Figure 23: Industry Absolute $ Opportunity by 300 Series Segment, 2019 to 2034

Figure 24: Industry Absolute $ Opportunity by 400 Series Segment, 2019 to 2034

Figure 25: Industry Absolute $ Opportunity by Other Grades Segment, 2019 to 2034

Figure 26: Industry Share and BPS Analysis By End Use, 2024 to 2034

Figure 27: Industry Y-o-Y Growth Projections By End Use, 2024 to 2034

Figure 28: Industry Attractiveness Analysis By End Use, 2024 to 2034

Figure 29: Industry Absolute $ Opportunity by Building and Construction Segment, 2019 to 2034

Figure 30: Industry Absolute $ Opportunity by Industrial Machinery and Components Segment, 2019 to 2034

Figure 31: Industry Absolute $ Opportunity by Automotive and Transportation Segment, 2019 to 2034

Figure 32: Industry Absolute $ Opportunity by Consumer Goods Segment, 2019 to 2034

Figure 33: Industry Absolute $ Opportunity by Medical and Surgical Tools Segment, 2019 to 2034

Figure 34: Industry Absolute $ Opportunity by Aerospace and Defense Segment, 2019 to 2034

Figure 35: Industry Absolute $ Opportunity by Marine Segment, 2019 to 2034

Figure 36: Industry Absolute $ Opportunity by Oil and Gas Segment, 2019 to 2034

Figure 37: Industry Absolute $ Opportunity by Other End Uses Segment, 2019 to 2034

Figure 38: Industry Share and BPS Analysis By Region, 2024 to 2034

Figure 39: Industry Y-o-Y Growth Projections By Region, 2024 to 2034

Figure 40: Industry Attractiveness Analysis By Region, 2024 to 2034

Figure 41: Industry Absolute $ Opportunity by North India Segment, 2019 to 2034

Figure 42: Industry Absolute $ Opportunity by South India Segment, 2019 to 2034

Figure 43: Industry Absolute $ Opportunity by East India Segment, 2019 to 2034

Figure 44: Industry Absolute $ Opportunity by West India Segment, 2019 to 2034

Figure 45: North Industry Share and BPS Analysis By Country, 2024 to 2034

Figure 46: North Industry Y-o-Y Growth Projections By Country, 2024 to 2034

Figure 47: North Industry Attractiveness Analysis By Country, 2024 to 2034

Figure 48: North Industry Share and BPS Analysis By Type, 2024 to 2034

Figure 49: North Industry Y-o-Y Growth Projections By Type, 2024 to 2034

Figure 50: North Industry Attractiveness Analysis By Type, 2024 to 2034

Figure 51: North Industry Share and BPS Analysis By Form, 2024 to 2034

Figure 52: North Industry Y-o-Y Growth Projections By Form, 2024 to 2034

Figure 53: North Industry Attractiveness Analysis By Form, 2024 to 2034

Figure 54: North Industry Share and BPS Analysis By Grade, 2024 to 2034

Figure 55: North Industry Y-o-Y Growth Projections By Grade, 2024 to 2034

Figure 56: North Industry Attractiveness Analysis By Grade, 2024 to 2034

Figure 57: North Industry Share and BPS Analysis By End Use, 2024 to 2034

Figure 58: North Industry Y-o-Y Growth Projections By End Use, 2024 to 2034

Figure 59: North Industry Attractiveness Analysis By End Use, 2024 to 2034

Figure 60: South Industry Share and BPS Analysis By Country, 2024 to 2034

Figure 61: South Industry Y-o-Y Growth Projections By Country, 2024 to 2034

Figure 62: South Industry Attractiveness Analysis By Country, 2024 to 2034

Figure 63: South Industry Share and BPS Analysis By Type, 2024 to 2034

Figure 64: South Industry Y-o-Y Growth Projections By Type, 2024 to 2034

Figure 65: South Industry Attractiveness Analysis By Type, 2024 to 2034

Figure 66: South Industry Share and BPS Analysis By Form, 2024 to 2034

Figure 67: South Industry Y-o-Y Growth Projections By Form, 2024 to 2034

Figure 68: South Industry Attractiveness Analysis By Form, 2024 to 2034

Figure 69: South Industry Share and BPS Analysis By Grade, 2024 to 2034

Figure 70: South Industry Y-o-Y Growth Projections By Grade, 2024 to 2034

Figure 71: South Industry Attractiveness Analysis By Grade, 2024 to 2034

Figure 72: South Industry Share and BPS Analysis By End Use, 2024 to 2034

Figure 73: South Industry Y-o-Y Growth Projections By End Use, 2024 to 2034

Figure 74: South Industry Attractiveness Analysis By End Use, 2024 to 2034

Figure 75: East Industry Share and BPS Analysis By Country, 2024 to 2034

Figure 76: East Industry Y-o-Y Growth Projections By Country, 2024 to 2034

Figure 77: East Industry Attractiveness Analysis By Country, 2024 to 2034

Figure 78: East Industry Share and BPS Analysis By Type, 2024 to 2034

Figure 79: East Industry Y-o-Y Growth Projections By Type, 2024 to 2034

Figure 80: East Industry Attractiveness Analysis By Type, 2024 to 2034

Figure 81: East Industry Share and BPS Analysis By Form, 2024 to 2034

Figure 82: East Industry Y-o-Y Growth Projections By Form, 2024 to 2034

Figure 83: East Industry Attractiveness Analysis By Form, 2024 to 2034

Figure 84: East Industry Share and BPS Analysis By Grade, 2024 to 2034

Figure 85: East Industry Y-o-Y Growth Projections By Grade, 2024 to 2034

Figure 86: East Industry Attractiveness Analysis By Grade, 2024 to 2034

Figure 87: East Industry Share and BPS Analysis By End Use, 2024 to 2034

Figure 88: East Industry Y-o-Y Growth Projections By End Use, 2024 to 2034

Figure 89: East Industry Attractiveness Analysis By End Use, 2024 to 2034

Figure 90: West Industry Share and BPS Analysis By Country, 2024 to 2034

Figure 91: West Industry Y-o-Y Growth Projections By Country, 2024 to 2034

Figure 92: West Industry Attractiveness Analysis By Country, 2024 to 2034

Figure 93: West Industry Share and BPS Analysis By Type, 2024 to 2034

Figure 94: West Industry Y-o-Y Growth Projections By Type, 2024 to 2034

Figure 95: West Industry Attractiveness Analysis By Type, 2024 to 2034

Figure 96: West Industry Share and BPS Analysis By Form, 2024 to 2034

Figure 97: West Industry Y-o-Y Growth Projections By Form, 2024 to 2034

Figure 98: West Industry Attractiveness Analysis By Form, 2024 to 2034

Figure 99: West Industry Share and BPS Analysis By Grade, 2024 to 2034

Figure 100: West Industry Y-o-Y Growth Projections By Grade, 2024 to 2034

Figure 101: West Industry Attractiveness Analysis By Grade, 2024 to 2034

Figure 102: West Industry Share and BPS Analysis By End Use, 2024 to 2034

Figure 103: West Industry Y-o-Y Growth Projections By End Use, 2024 to 2034

Figure 104: West Industry Attractiveness Analysis By End Use, 2024 to 2034

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