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Europe Stainless Steel Market

Europe Stainless Steel Market Size, Share, Growth, Analysis: By Type: Cold Flat, Hot Coils, Hot Bars/Wire Rod, Cold Bars/Wire, Hot Plate and Sheet, Others; By Application: Metal Products, Mechanical Engineering, Construction, Automotive and Transportation, Electrical Machinery, Others; Regional Analysis; Competitive Landscape; 2024-2032

Europe Stainless Steel Market Outlook

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.

 

Key Takeaways

  • The European stainless-steel industry produces an impressive 6 million tonnes of finished steel per year. This sector comprises 37 steel production sites across the European Union (EU). 
  • As per industry reports, with a turnover of around EUR 130 billion, it directly employs approximately 306,000 highly skilled people in the EU, contributing to the production of an average of 152 million tonnes of steel annually.
  • The European Steel Association (EUROFER) represents the entirety of steel production in the EU. Its mission is to provide accurate statistical information and guide policymakers in making informed decisions related to the steel industry.
  • The demand for stainless steel in Europe is driven by the rapid growth of the automotive industry and technological advancements in steel production, with around 45%-50% of steel being used in automotive exhaust systems.

 

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

 

Market Segmentation

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

  • Cold Flat
  • Hot Coils
  • Hot Bars/Wire Rod
  • Cold Bars/Wire
  • Hot Plate and Sheet
  • Others

 

Market Breakup by Application

  • Metal Products
  • Mechanical Engineering
  • Construction
  • Automotive and Transportation
  • Electrical Machinery
  • Others

 

Market Breakup by Country

  • Germany
  • United Kingdom
  • France
  • Italy
  • Others

 

Competitive Landscape

Market players are focused on expanding their production capacity, developing innovative products, and making strategic acquisitions to strengthen their market position.

 

  • Nippon Steel Corporation 
  • Aperam SA 
  • Outokumpu Oyj  
  • OSCO Co., Ltd. 
  • Cleveland-Cliffs Inc. (AK Steel International B.V.) 
  • Acerinox S.A.  
  • ArcelorMittal S.A. 
  • Mitsui & Co., Ltd. 
  • Others

 

Key Highlights of the Report

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:

  • Type
  • Application
  • Region
Breakup by Type
  • Cold Flat
  • Hot Coils
  • Hot Bars/Wire Rod
  • Cold Bars/Wire
  • Hot Plate and Sheet
  • Others
Breakup by Application
  • Metal Products
  • Mechanical Engineering
  • Construction
  • Automotive and Transportation
  • Electrical Machinery
  • Others
Breakup by Region
  • Germany
  • United Kingdom
  • France
  • Italy
  • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Nippon Steel Corporation
  • Aperam SA
  • Outokumpu Oyj
  • POSCO Co., Ltd.
  • Cleveland-Cliffs Inc. (AK Steel International B.V.)
  • Acerinox S.A. 
  • ArcelorMittal S.A. 
  • Mitsui & Co., Ltd.
  • Others

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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

Key Questions Answered in the Report

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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