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Global Stainless Steel 400 Series Market Size, Share, Report: By Application: Building and Construction, Automotive and Transportation, Consumer Goods, Mechanical Engineering and Heavy Industries, Medical, Aerospace, Others; Regional Analysis; Market Dynamics, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Stainless Steel 400 Series Market Outlook
The global stainless steel 400 series market attained a value of nearly USD 32.60 billion in 2023. The market is projected to grow at a CAGR of 7.2% between 2024 and 2032 to reach a value of around USD 61.13 billion by 2032.
Key Trends in the Market
Stainless steel 400 series refers to a group of stainless steel products which contain 11-27% chromium, 1% carbon, and around 2.5% nickel. This stainless steel group is susceptible to rust, gets hardened with heat, and offers high resistance to wear.
- Heightening application of stainless steel 400 series in medical equipment and instruments, owing to its high strength and toughness, is driving the market.
- Rapid infrastructure development activities across developed and developing economies are generating the demand for stainless steel 400 series in architectural cladding, handrails, drainage systems, and roofing systems, among others.
- With increasing nickel price fluctuations due to socioeconomic factors and economic slowdown, steel manufacturers are developing nickel-free stainless steel 400 series using molybdenum and chromium to enhance its performance and price stability as compared to 304 and 316 stainless steel variants.
Market Analysis
Based on application, the market is segmented into building and construction, automotive and transportation, consumer goods, mechanical engineering and heavy industries, medical, and aerospace, among others. The major regional markets for stainless steel 400 series include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global stainless steel 400 series market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Acerinox S.A.
- Baosteel Group Corporation
- Fushun Special Steel Co., Ltd.
- Jindal Stainless Ltd.
- Outokumpu Oyj
- POSCO
- Tata Steel Ltd.
- Yieh Corp.
- Nippon Steel Corp.
- ThyssenKrupp AG
- Others
Market Share by Application
In the stainless steel 400 series market, consumer goods are likely to witness a heightened growth in the forecast period. Stainless steel 400 series is extensively used for manufacturing different consumer goods, such as home components, kitchen appliances, utensils, cutting tools, fridges, and washing machines, among others. Hence, the rising demand for these consumer goods, owing to the increasing disposable income, rapid urbanisation, and thriving e-commerce sector, is boosting the segment’s growth.
Market Share by Region
The Asia Pacific accounts for a significant share of the market for stainless steel 400 series. The growing expansion of the manufacturing sector, coupled with heightened growth of end-use sectors such as construction, is driving the demand for stainless steel 400 series in the region.
Additionally, growing efforts by companies to ramp up the production of stainless steel 400 series across emerging economies such as China and Vietnam are further fuelling the stainless steel 400 series market growth.
Competitive Landscape
Acerinox S.A. is a global manufacturer and distributor of stainless steel and high-performance alloys. It was founded in 1970 and is headquartered in Madrid, Spain.
Baosteel Group Corporation is a leading company that manufactures stainless steel and premium steel products with high technology integration. The company was founded in 1978 and is headquartered in Shanghai, China.
Fushun Special Steel Co., Ltd. is a company which provides steel products, such as tool steel, mould steel, and special steel, among others. It was established in 1937 and is headquartered in Liaoning, China.
Other market players include Jindal Stainless Ltd., Outokumpu Oyj, POSCO, Tata Steel Ltd., Yieh Corp., Nippon Steel Corp., and ThyssenKrupp AG, 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 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
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Stainless Steel 400 Series Market Analysis
8.1 Key Industry Highlights
8.2 Global Stainless Steel 400 Series Historical Market (2018-2023)
8.3 Global Stainless Steel 400 Series Market Forecast (2024-2032)
8.4 Global Stainless Steel 400 Series Market by Application
8.4.1 Building and Construction
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Automotive and Transportation
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Consumer Goods
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Mechanical Engineering and Heavy Industries
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Medical
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Aerospace
8.4.6.1 Historical Trend (2018-2023)
8.4.6.2 Forecast Trend (2024-2032)
8.4.7 Others
8.5 Global Stainless Steel 400 Series Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Stainless Steel 400 Series Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Stainless Steel 400 Series Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Stainless Steel 400 Series Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Stainless Steel 400 Series Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Stainless Steel 400 Series Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Acerinox S.A.
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 Baosteel Group Corporation
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 Fushun Special Steel 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 Jindal Stainless 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 Outokumpu Oyj
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 POSCO
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 Tata Steel Ltd.
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 Yieh Corp.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Nippon Steel Corp.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 ThyssenKrupp AG
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Other
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Stainless Steel 400 Series Market: Key Industry Highlights, 2018 and 2032
2. Global Stainless Steel 400 Series Historical Market: Breakup by Application (USD Billion), 2018-2023
3. Global Stainless Steel 400 Series Market Forecast: Breakup by Application (USD Billion), 2024-2032
4. Global Stainless Steel 400 Series Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Global Stainless Steel 400 Series Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. North America Stainless Steel 400 Series Historical Market: Breakup by Country (USD Billion), 2018-2023
7. North America Stainless Steel 400 Series Market Forecast: Breakup by Country (USD Billion), 2024-2032
8. Europe Stainless Steel 400 Series Historical Market: Breakup by Country (USD Billion), 2018-2023
9. Europe Stainless Steel 400 Series Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Asia Pacific Stainless Steel 400 Series Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Asia Pacific Stainless Steel 400 Series Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Latin America Stainless Steel 400 Series Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Latin America Stainless Steel 400 Series Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Middle East and Africa Stainless Steel 400 Series Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Middle East and Africa Stainless Steel 400 Series Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Global Stainless Steel 400 Series Market Structure
Key Questions Answered in the Report
The market reached a value of nearly USD 32.60 billion in 2023.
The market is estimated to grow at a CAGR of 7.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 61.13 billion by 2032.
The heightening application of stainless steel 400 series in medical equipment and instruments, the growing demand for the product from the building and construction sector, and rising demand for stainless steel 400 series-based consumer goods are the major drivers of the market.
The key trends in the market include the growing research and development activities by leading steel manufacturers to develop high-performance stainless steel 400 series, the thriving e-commerce sector, and rising sales of downstream stainless steel 400 series products.
The major regions in the market are North America, the Asia Pacific, Europe, the Middle East and Africa, and Latin America.
The major applications of stainless steel 400 series are building and construction, automotive and transportation, consumer goods, mechanical engineering and heavy industries, medical, and aerospace, among others.
Acerinox S.A., Baosteel Group Corporation, Fushun Special Steel Co., Ltd., Jindal Stainless Ltd., Outokumpu Oyj, POSCO, Tata Steel Ltd., Yieh Corp., Nippon Steel Corp., and ThyssenKrupp AG, among others, are the key stainless steel 400 series market players.
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