- Stainless steel foil is a thin sheet of metal. Stainless steel foils are available in every grade including austenitic, ferritic, martensitic, and duplex stainless steel.
- Stainless steel foils are primarily manufactured from austenitic grade with 304 and 316 series. The 304 and 316 series is highly preferred for the manufacture of stainless steel foil owing to the balanced alloy combination with chromium, nickel, carbon, and other metals. The composition of metal alloys provides excellent mechanical properties to stainless steel foils
Width < 100mm Product Segment to Dominate Stainless Steel Foil Market:
- Based on product, the global stainless steel foil market has been segmented into width < 100mm, width 100 mm - 500 mm, and width > 500mm. The width < 100mm segment accounts for significant share of the market, as it is widely used in various electronic applications. Furthermore, width < 100mm product of stainless steel foil offers good thermal conductivity and chemical resistance properties in electrical & electronics applications.
- As a result, it provides superior durability compared to other metal and metal alloys. Width 100mm - 500mm segment constituted key share after the width < 100mm segment in 2018. Width 100 mm - 500 mm stainless steel foil is widely used in automotive applications owing to its highly compatible length to manufacture metal catalytic substrates
Electrical & Electronics End-use Industry to Lead Stainless Steel Foil Market:
- Stainless steel foil is employed in a wide range of end-use industries such as electrical & electronics, automotive, energy & power, oil & gas, and others (including pharmaceutical and packaging). Electrical & electronics was the major application segment of the global stainless steel foil market in 2018. Stainless steel foil is used in the manufacture of springs for hard disk drives. This is expected to propel the demand for stainless steel foil during the forecast period
- Stainless steel foil is also employed in mobile components and part products. Rise in demand for mobile phones across the world is also a prominent factor anticipated to drive the demand for stainless steel foil between 2019 and 2027
Presence of Strong Substitute Aluminum May Hamper Overall Demand For Stainless Steel Foil:
- Aluminum is considered a strong substitute for stainless steel foil owing to its similar thermal and anti-corrosive properties. The aluminum foil industry has been expanding across the globe owing to the rise in usage of aluminum foils in packaging applications. This is anticipated to hamper the overall demand for stainless steel foil during the forecast period
Automotive End-use Industry to Offer Future Opportunities:
- Automotive segment is anticipated to expand at a significant pace due to the increase in demand for catalytic converters in vehicle exhaust systems to reduce carbon footprints. Furthermore, rapid expansion in the global energy & power industry, owing to the rise in usage of smart technologies including laptops, tablets, and smartphones, is estimated to drive the demand for stainless steel foil during the forecast period
- Energy & power was an important segment accounted for with more than 20% share of the global stainless steel foil market in 2018. It is likely to expand at a significant pace between 2019 and 2027. After energy & power, automotive contributed major share for global stainless steel foil market in 2018
- Most of the leading electronic companies have increased the usage of stainless steel foils in smartphones, computers, and other devices. This is projected to drive the stainless steel foil market during the forecast period
Asia Pacific to Dominate Stainless Steel Foil Market:
- Based on region, Asia Pacific constituted more than 56% value share of the global stainless steel foil market in 2018. China is one of the leading exporters of foils across the globe. It is the leading manufacturing hub for finished stainless steel foil products. Expansion of the solar industry across China owing to the rise in need for renewable energy is anticipated to drive the stainless steel foil market in China between 2019 and 2027
- Asia Pacific is estimated to maintain its dominance in the global market throughout the forecast period, led by the increase in demand for stainless steel foil in automotive, electronics, energy & power and solar industries. The market in Europe and North America is expected to expand at a rapid pace, while that in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace between 2019 and 2027
- Global stainless steel foil market is highly fragmented with the presence of large number of regional and local players. Manufacturers are focusing on expanding their production capacities to produce and excellent grade stainless steel foil
- Prominent players operating in the market are
- Nippon Steel & Sumitomo Metal Corporation
- Olin Brass
- Ulbrich Stainless Steels & Special Metals, Inc.
- J. Oster
- Nisshin Steel Co. Ltd.
- Meru Impex, Bhandari Group
- Riddhi Siddhi Impex
- IUP Jindal Metals & Alloys Ltd.
- Hollinbrow Precision Products (UK) Ltd.
- Rikazai Co., Ltd.
- In December 2018, Ulbrich Stainless Steels & Special Metals, Inc. expanded its manufacturing capacity by opening a new production facility in Ontario, Canada