Stainless Steel Market 2022 - Global Key Players Analysis and Growth Forecast to 2028
Global stainless steel market accounted to US$ 198,660.0 Mn in 2018 and is expected to grow at a CAGR of 5.6% during the forecast period 2019 - 2027, to account to US$ 323,144.6 Mn by 2027. Stainless steel is defined as iron-base alloys which are composed of a minimum of 10.5% Chromium. The Chromium creates a thin passive layer of oxide on the surface of the steel, which prevents corrosion of the steel surface. By increasing the amount of Chromium, the corrosion resistance property of stainless steel gets improved. It is used in a wide range of applications such as industrial, architectural, chemical, and consumer application. Stainless steel is an engineering material characterized by high corrosion resistance, strength, and fabrication characteristics. Carbon, silicon, manganese, and other elements are added in the stainless to enhance other useful properties such as formability and increased corrosion resistance. Stainless steel has come to the forefront of the automotive ...