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Mexico Stainless Steel Market Size, Share, Growth, Analysis: By Product 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
Mexico Stainless Steel Market Outlook
The Mexico stainless steel market size is projected to grow at a CAGR of 6.3% between 2024 and 2032. The market is being driven by the robust growth of different end-use sectors, including HoReCa, construction, and manufacturing, among others.
Key Takeaways:
- The application of stainless steel in the automotive and transportation sectors is expected to propel the market.
- The imposition of anti-dumping duty on steel imports from various countries is expected to drive market growth.
- Sustainable production of stainless steel is one of the key trends shaping the market growth.
The expansion of the construction and manufacturing sectors in Mexico is contributing to the Mexico stainless steel market growth. The introduction of various initiatives by the Mexican government to support indigenous stainless steel manufacturers is also favouring the market. For instance, in January 2024, it imposed an anti-dumping duty (11.6%-79%) on imports of cold-rolled coils from Vietnam, which have been claimed to harm the incomes of domestic steel manufacturers.
The thriving HoReCa sector in Mexico is expected to influence the demand for stainless steel as it is essential for manufacturing kitchen accessories and cooking equipment. This includes knives, saucepans, grills, and cookers, among others. This is because stainless steel is hygienic and easy to clean. Moreover, it is corrosion resistant, which makes it suited for the application of storing food and beverages. This is one of the key Mexico stainless steel market trends.
The inner strength and flexibility of stainless steel make it ideal for manufacturing surgical implants (like artificial joints) and joining equipment like steel plates to realign broken bones. It is also used in manufacturing dental equipment and designing various diagnostic machines, including MRI scanners and cannulas. The need for maintaining a sterile operating environment for doctors is expected to further accelerate the use of stainless steel in hospitals and specialised care institutions, thereby driving the Mexico stainless steel market expansion.
Market Segmentation
Mexico Stainless Steel Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product 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 Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
The key Mexico stainless steel market players are Nippon Steel Corporation, Acerinox, S.A., Mitsui & Co., Ltd., POSCO Co., Ltd., ArcelorMittal S.A., Outokumpu, and JFE Steel Corporation, among 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:
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| Breakup by Product 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 Market 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 Latin America Stainless Steel Market Overview
8.1 Key Industry Highlights
8.2 Latin America Stainless Steel Historical Market (2018-2023)
8.3 Latin America Stainless Steel Market Forecast (2024-2032)
8.4 Latin America Stainless Steel Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Stainless Steel Market Overview
9.1 Key Industry Highlights
9.2 Mexico Stainless Steel Historical Market (2018-2023)
9.3 Mexico Stainless Steel Market Forecast (2024-2032)
10 Mexico Stainless Steel Market by Product 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 Mexico 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 Mexico Stainless Steel Market by Region
12.1 Baja California
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Northern Mexico
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 The Bajío
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Central Mexico
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Pacific Coast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Yucatan Peninsula
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
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 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Nippon Steel Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Acerinox, S.A.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Mitsui & Co., Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 POSCO Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 ArcelorMittal S.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Outokumpu
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 JFE Steel Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Stainless Steel Market: Key Industry Highlights, 2018 and 2032
2. Mexico Stainless Steel Market: Key Industry Highlights, 2018 and 2032
3. Mexico Stainless Steel Historical Market: Breakup by Product Type (USD Million), 2018-2023
4. Mexico Stainless Steel Market Forecast: Breakup by Product Type (USD Million), 2024-2032
5. Mexico Stainless Steel Historical Market: Breakup by Application (USD Million), 2018-2023
6. Mexico Stainless Steel Market Forecast: Breakup by Application (USD Million), 2024-2032
7. Mexico Stainless Steel Historical Market: Breakup by Region (USD Million), 2018-2023
8. Mexico Stainless Steel Market Forecast: Breakup by Region (USD Million), 2024-2032
9. Mexico Stainless Steel Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 6.3% between 2024 and 2032.
The different product types in the market include cold flat, hot coils, hot bars/wire rod, cold bars/wire, and hot plate and sheet, among others.
The major applications of stainless steel include metal products, mechanical engineering, construction, automotive and transportation, and electrical machinery, among others.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key market players are Nippon Steel Corporation, Acerinox, S.A., Mitsui & Co., Ltd., POSCO Co., Ltd., ArcelorMittal S.A., Outokumpu, and JFE Steel Corporation, among others.
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