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The Europe stainless steel market size was valued at USD 21.74 billion in 2023. The market is further projected to grow at a CAGR of 4.4% between 2024 and 2032, reaching a value of USD 32.18 billion by 2032.
Stainless steel is experiencing a surge in demand within the construction industry due to its superior corrosion resistance. This trend is driven by the growing construction of residential and commercial buildings, hospitals, and other structures worldwide. For example, the use of stainless steel in the construction of iconic buildings such as the Guggenheim Museum in Bilbao, Spain, demonstrates its aesthetic appeal and durability.
As a 100% recyclable material, steel contributes to the circular economy and supports sustainable development, which drives Europe stainless steel market growth. Moreover, the market is witnessing a shift towards the development of new and more sustainable production methods for stainless steel. For instance, Outokumpu, a leading stainless-steel producer, has developed a new production method that reduces CO2 emissions by up to 50% compared to traditional methods.
The Europe stainless steel market share is increasing due to a growing focus on applications in renewable energy sectors. Stainless steel's properties, such as corrosion resistance and durability, make it ideal for use in renewable energy technologies like solar panels, wind turbines, and energy storage systems. For instance, the use of stainless steel in wind turbines has increased significantly in recent years, with the material being used for tower construction, gearboxes, and other critical components.
In the field of mechanical engineering, stainless steel plays a crucial role due to its exceptional mechanical properties, including strength, ductility, and resistance to wear and tear. Stainless steel is utilised in the manufacturing of precision components, machinery parts, tools, and equipment for various mechanical applications. Stainless steel is essential in the electrical machinery industry for manufacturing components like enclosures, connectors, and electrical fittings. Its corrosion resistance, thermal conductivity, and hygienic properties make it suitable for electrical applications where reliability and safety are paramount.
Europe Stainless Steel Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Country
Market players are focused on expanding their production capacity, developing innovative products, and making strategic acquisitions to strengthen their market position.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Stainless Steel Market Overview
8.1 Key Industry Highlights
8.2 Global Stainless Steel Historical Market (2018-2023)
8.3 Global Stainless Steel Market Forecast (2024-2032)
8.4 Global Stainless Steel Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Europe Stainless Steel Market Overview
9.1 Key Industry Highlights
9.2 Europe Stainless Steel Historical Market (2018-2023)
9.3 Europe Stainless Steel Market Forecast (2024-2032)
10 Europe Stainless Steel Market by Type
10.1 Cold Flat
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Hot Coils
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Hot Bars/Wire Rod
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Cold Bars/Wire
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Hot Plate and Sheet
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Europe Stainless Steel Market by Application
11.1 Metal Products
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Mechanical Engineering
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Construction
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Automotive and Transportation
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Electrical Machinery
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Europe Stainless Steel Market by Country
12.1 Germany
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 United Kingdom
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 France
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Italy
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators of Demand
13.4 Key Indicators of Price
14 Value Chain Analysis
15 Trade Data Analysis (HS Code - 7218)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Nippon Steel Corporation
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Aperam SA
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Outokumpu Oyj
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 POSCO Co., Ltd.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Cleveland-Cliffs Inc. (AK Steel International B.V.)
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Acerinox S.A.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 ArcelorMittal S.A.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Mitsui & Co., Ltd.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Stainless Steel Market: Key Industry Highlights, 2018 and 2032
2. Europe Stainless Steel Market: Key Industry Highlights, 2018 and 2032
3. Europe Stainless Steel Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Europe Stainless Steel Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Europe Stainless Steel Historical Market: Breakup by Application (USD Billion), 2018-2023
6. Europe Stainless Steel Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. Europe Stainless Steel Historical Market: Breakup by Country (USD Billion), 2018-2023
8. Europe Stainless Steel Market Forecast: Breakup by Country (USD Billion), 2024-2032
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Europe Stainless Steel Market Structure
In 2023, the market reached an approximate value of USD 21.74 billion.
The market is expected to grow at a CAGR of 4.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 32.18 billion by 2032.
The market is being driven by the growing demand for sustainable and eco-friendly stainless-steel products, as well as the increasing use of stainless steel in various industries such as construction, automotive, and electronics.
Key trends aiding the market expansion include the rising technological advancements in steel production and the increasing demand for high-quality and durable stainless-steel products.
Countries considered in the market are Germany, United Kingdom, France, and Italy, among others.
Based on application, the market segmentations include metal products, mechanical engineering, construction, automotive and transportation, and electrical machinery, among others.
Cold flat, hot coils, hot bars/wire rod, cold bars/wire, hot plate and sheet, and other types are considered in the report.
Key players in the market are Nippon Steel Corporation, Aperam SA, Outokumpu Oyj, POSCO Co., Ltd., Cleveland-Cliffs Inc. (AK Steel International B.V.), Acerinox S.A., ArcelorMittal S.A., and Mitsui & Co., Ltd., among others.
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