Market Overview:
The global stainless steel ingots market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for stainless steel ingots from various end-use industries, such as construction, automotive, aerospace, engineering and others. In terms of type, the hot strapping segment is expected to dominate the market during the forecast period owing to its properties such as high strength and corrosion resistance. In terms of application, construction is expected to be one of the fastest-growing segments during the forecast period owing to increase in infrastructure development activities across regions.
Product Definition:
A Stainless Steel Ingot is a piece of steel that has been molded into a specific shape, often used for making parts or tools.
Hot Strapping:
Hot strapping is a process of applying the hot metal onto the form in which it is going to be used. It saves time and labor if compared to cold strapping as it eliminates the need for reheating and cooling before use. The product also has a high demand in stainless steel ingots production, where it helps in minimizing wastage during transportation due to its superior properties such as low weight & cost efficiency along with ease of handling.
Cold Strapping:
Cold strapping is a method of applying the final form of weight to the stainless steel ingot during processing in order to obtain standard and uniformity in product. It helps attain high yield, improve energy efficiency during production process, and reduce wastage due to under-processing or over-processing.
The cold strapping process involves using an automated belt sizer that wraps around the base of each bar or round on which other machine tools can operate.
Application Insights:
The construction segment accounted for the largest volume share of over 30% in 2017. The demand is expected to be driven by the growing residential and commercial construction activities across the globe. Stainless steel is used as a structural component in buildings, bridges, highways and other infrastructure projects owing to its strength and resistance to corrosion.
Automotive was another major application that accounted for 19% of global stainless steel ingots market volume in 2017. The product features excellent resistance against heat, pressure, chemicals and mechanical damage which makes it a suitable material for manufacturing engine components including camshafts, valvesprings, pushrods & rocker arms as well as fuel systems among others. In addition, it can also be used to manufacture various automotive components including transmission cases & covers along with mufflers & exhaust systems due to its high durability feature required at high temperatures during vehicle manufacturing process (heat treatment).
Regional Analysis:
Asia Pacific dominated the global stainless steel ingots market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Indonesia and Malaysia. These countries are experiencing strong economic growth owing to various factors such as rapid urbanization, increasing population and rising standards of living. Moreover, these countries have a large construction industry due to growing infrastructure needs across numerous sectors including transportation facilities; hospitals; schools; offices etc., which will fuel demand for stainless steel in construction applications over the next eight years.
The Asia Pacific was followed by Europe with a share of 25.0% in terms of volume in 2017 on account of high automotive production levels coupled with aerospace manufacturing activities mainly performed within Germany Italy France UK Russia Spain U-K-Italy-France (GIIF) region as per 2016 stats published by World Economic Forum (WEF).
Growth Factors:
- Increasing demand from end-use industries such as construction, automotive, and appliances
- Growing popularity of stainless steel in developing countries due to its corrosion resistance and aesthetic appeal
- Technological advancements that have led to the development of new grades of stainless steel with improved properties
- Rising prices of raw materials used in the production of stainless steel ingots
- Expansion in global trade leading to an increase in demand for finished products made from stainless steel
Scope Of The Report
Report Attributes
Report Details
Report Title
Stainless Steel Ingots Market Research Report
By Type
Hot Strapping, Cold Strapping
By Application
Construction, Automotive, Aerospace, Engineering, Others
By Companies
Thyssenkrupp, NLMK, China Steel Corporation, Tata Steel, JSW Steel Limited, Benxi Steel, ArcelorMittal, China Baowu Group, NSSMC Group, POSCO, Thyssenkrupp, Ansteel Group, JFE Steel Corporation, Nucor Corporation, Hyundai Steel Company
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
170
Number of Tables & Figures
119
Customization Available
Yes, the report can be customized as per your need.
Global Stainless Steel Ingots Market Report Segments:
The global Stainless Steel Ingots market is segmented on the basis of:
Types
Hot Strapping, Cold Strapping
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Construction, Automotive, Aerospace, Engineering, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Thyssenkrupp
- NLMK
- China Steel Corporation
- Tata Steel
- JSW Steel Limited
- Benxi Steel
- ArcelorMittal
- China Baowu Group
- NSSMC Group
- POSCO
- Thyssenkrupp
- Ansteel Group
- JFE Steel Corporation
- Nucor Corporation
- Hyundai Steel Company
Highlights of The Stainless Steel Ingots Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hot Strapping
- Cold Strapping
- By Application:
- Construction
- Automotive
- Aerospace
- Engineering
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Stainless Steel Ingots Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Stainless steel ingots are a type of metal that is made from stainless steel. Stainless steel is a type of metal that is made from iron and other elements. The stainless steel ingots are used to make different types of products, such as tools, appliances, and other objects.
Some of the major companies in the stainless steel ingots market are Thyssenkrupp, NLMK, China Steel Corporation, Tata Steel, JSW Steel Limited, Benxi Steel, ArcelorMittal, China Baowu Group, NSSMC Group, POSCO, Thyssenkrupp, Ansteel Group, JFE Steel Corporation, Nucor Corporation, Hyundai Steel Company.
The stainless steel ingots market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Stainless Steel Ingots Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Stainless Steel Ingots Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Stainless Steel Ingots Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Stainless Steel Ingots Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Stainless Steel Ingots Market Size & Forecast, 2018-2028
4.5.1 Stainless Steel Ingots Market Size and Y-o-Y Growth
4.5.2 Stainless Steel Ingots Market Absolute $ Opportunity
Chapter 5 Global Stainless Steel Ingots Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Stainless Steel Ingots Market Size Forecast by Type
5.2.1 Hot Strapping
5.2.2 Cold Strapping
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Stainless Steel Ingots Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Stainless Steel Ingots Market Size Forecast by Applications
6.2.1 Construction
6.2.2 Automotive
6.2.3 Aerospace
6.2.4 Engineering
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Stainless Steel Ingots Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Stainless Steel Ingots Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Stainless Steel Ingots Analysis and Forecast
9.1 Introduction
9.2 North America Stainless Steel Ingots Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Stainless Steel Ingots Market Size Forecast by Type
9.6.1 Hot Strapping
9.6.2 Cold Strapping
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Stainless Steel Ingots Market Size Forecast by Applications
9.10.1 Construction
9.10.2 Automotive
9.10.3 Aerospace
9.10.4 Engineering
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Stainless Steel Ingots Analysis and Forecast
10.1 Introduction
10.2 Europe Stainless Steel Ingots Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Stainless Steel Ingots Market Size Forecast by Type
10.6.1 Hot Strapping
10.6.2 Cold Strapping
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Stainless Steel Ingots Market Size Forecast by Applications
10.10.1 Construction
10.10.2 Automotive
10.10.3 Aerospace
10.10.4 Engineering
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Stainless Steel Ingots Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Stainless Steel Ingots Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Stainless Steel Ingots Market Size Forecast by Type
11.6.1 Hot Strapping
11.6.2 Cold Strapping
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Stainless Steel Ingots Market Size Forecast by Applications
11.10.1 Construction
11.10.2 Automotive
11.10.3 Aerospace
11.10.4 Engineering
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Stainless Steel Ingots Analysis and Forecast
12.1 Introduction
12.2 Latin America Stainless Steel Ingots Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Stainless Steel Ingots Market Size Forecast by Type
12.6.1 Hot Strapping
12.6.2 Cold Strapping
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Stainless Steel Ingots Market Size Forecast by Applications
12.10.1 Construction
12.10.2 Automotive
12.10.3 Aerospace
12.10.4 Engineering
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Stainless Steel Ingots Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Stainless Steel Ingots Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Stainless Steel Ingots Market Size Forecast by Type
13.6.1 Hot Strapping
13.6.2 Cold Strapping
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Stainless Steel Ingots Market Size Forecast by Applications
13.10.1 Construction
13.10.2 Automotive
13.10.3 Aerospace
13.10.4 Engineering
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Stainless Steel Ingots Market: Competitive Dashboard
14.2 Global Stainless Steel Ingots Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Thyssenkrupp
14.3.2 NLMK
14.3.3 China Steel Corporation
14.3.4 Tata Steel
14.3.5 JSW Steel Limited
14.3.6 Benxi Steel
14.3.7 ArcelorMittal
14.3.8 China Baowu Group
14.3.9 NSSMC Group
14.3.10 POSCO
14.3.11 Thyssenkrupp
14.3.12 Ansteel Group
14.3.13 JFE Steel Corporation
14.3.14 Nucor Corporation
14.3.15 Hyundai Steel Company
