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The Latin America stainless-steel market size was valued at USD 8.09 billion in 2023. The market is further projected to grow at a CAGR of 4.8% between 2024 and 2032, reaching a value of USD 12.39 billion by 2032.
In the construction industry, stainless-steel is being used in the production of beams, columns, and other general architectural applications, such as the construction of high-rise buildings and bridges. For example, the Estadio Nacional de Brasilia in Brazil, which was built for the 2014 FIFA World Cup, features a stainless-steel exterior that reflects the country's modern architecture and design.
As per Latin America stainless steel market analysis, the Brazilian government has launched a major infrastructure program, known as the "Growth Acceleration Program" (PAC), which includes the construction of new airports, highways, and ports. The rising number of construction projects showcases the increasing demand for stainless-steel in the construction industry.
Stainless-steel is being used in the manufacturing of various automotive parts, such as exhaust systems, fuel tanks, hoods, and doors. For instance, the BMW Group has been using stainless-steel in the production of its car bodies, which has helped to reduce the weight of the vehicles and improve fuel efficiency. Moreover, Mexico is the seventh-largest automobile producer in the world, with an annual production of over 4 million vehicles. The increasing production of automobiles in Mexico is expected to drive the Latin America stainless steel market growth.
In the transportation sector, stainless-steel is being used in the production of train components, such as locomotive bodies, wagons, and other parts. For example, the Brazilian train manufacturer, Marcopolo, has been using stainless-steel in the production of its buses and trains, which has helped to improve their durability and reduce maintenance costs.
Moreover, stainless-steel is also being used in the production of medical equipment, such as surgical instruments, implants, and other parts. For instance, the Brazilian medical device manufacturer, GE Healthcare, has been using stainless-steel in the production of its medical imaging equipment, which has helped to improve their durability and reduce maintenance costs.
Latin America 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 investing in research and development to develop new stainless-steel grades and expand their production capacity.
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 Latin America Stainless Steel Market Overview
9.1 Key Industry Highlights
9.2 Latin America Stainless Steel Historical Market (2018-2023)
9.3 Latin America Stainless Steel Market Forecast (2024-2032)
10 Latin America 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 Latin America 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 Latin America Stainless Steel Market by Country
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mexico
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Argentina
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 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 JFE Steel Corporation
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. Latin America Stainless Steel Market: Key Industry Highlights, 2018 and 2032
3. Latin America Stainless Steel Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Latin America Stainless Steel Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Latin America Stainless Steel Historical Market: Breakup by Application (USD Billion), 2018-2023
6. Latin America Stainless Steel Market Forecast: Breakup by Application (USD Billion), 2024-2032
7. Latin America Stainless Steel Historical Market: Breakup by Country (USD Billion), 2018-2023
8. Latin America 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. Latin America Stainless Steel Market Structure
In 2023, the market reached an approximate value of USD 8.09 billion.
The market is expected to grow at a CAGR of 4.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 12.39 billion by 2032.
Growing consumer demand for environmentally friendly and sustainable stainless-steel products, along with the material's expanding application across a range of industries, including electronics, automotive, and construction, are driving the market.
Key trends aiding the market expansion include the rising technological advancements in steel production, increasing demand for stainless-steel in the construction industry, and the increasing demand for high-quality and durable stainless-steel products in automotive industries.
Countries considered in the market are Brazil, Mexico, and Argentina, 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., JFE Steel Corporation, Acerinox S.A., ArcelorMittal S.A., and Mitsui & Co., Ltd., among others.
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