Stainless Steel Plate Market: Overview

  • Stainless steel plates are made of stainless steel, which is usually a low carbon steel that contains chromium at a proportion of about 10% or higher by weight. The addition of chromium gives the steel its unique stain & corrosion resisting properties.
  •  The chromium content of the steel allows the formation of an adherent, rough, invisible, and corrosion-resisting chromium oxide film on its surface. Corrosion resistive and other useful properties of the steel can be enhanced by increasing the chromium content in it and also through the addition of other elements such as nickel, molybdenum, and nitrogen.
  • Stainless steel plate is often referred as corrosion-resistant steel, as it does not stain, rust, or corrode easily as the usual carbon steel plate. Stainless steel plate contains small amount of a corrosion resistant material, which limits surface corrosion unlike carbon steel plates, which gets rusted in the long run when exposed to the moisture present in the atmosphere.
  • Stainless steel plate is used in a diverse range of applications such as modern architecture for cladding or fascia, and also in the food hygiene industry due to its anti-bacterial qualities

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Key Drivers of Stainless Steel Plate Market

  • Rise in demand for cars and vehicles across the globe is expected to boost the demand for stainless steel plate during the forecast period. Stainless steel plates are used extensively in the car manufacturing industry. Stainless steel plate has particularly remarkable work-hardening properties and high tensile strength. These enhance the resistant behavior of the material during a car accident.
  • Growth in construction activities around the globe is one of the major reasons driving the demand for stainless steel plates. Stainless steel plates and strips are used to create lintels, wind posts, and masonry supports as they absorb water and control soil erosion. Stainless steel plates are also welded to form shelf angles used during construction of buildings.

Key Developments and Policies

  • In October 2019, AK Steel announced that it had entered into a licensing agreement with ArcelorMittal. This involved the aluminized boron press hardenable steel product named ULTRALUME PHS.  The product is a high strength, high formability steel that is used for hot stamping into parts in the automotive industry. According to the agreement with ArcelorMittal, AK Steel has acquired the full rights to manufacture and sell its ULTRALUME PHS product for hot stamping. Its customers are also permitted to stamp and use the product in North America and Mexico.
  • In May 2019, Japan Railway Stainless Steel Co., Ltd. (NSSC) announced that the domestic contract prices of cold rolled nickel series stainless steel sheets such as SUS304, medium and thick plate, and chromium series stainless steel cold rolled sheets such as SUS430 increased by 5000 yen/ton. This price increase is reflected in alloy surcharge. The base price remains unchanged.

Regional Analysis of Stainless Steel Plate Market

  • Based on region, the global stainless steel plate market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Asia Pacific is expected to hold major share of the global stainless steel plate market during the forecast period. Increase in automotive production, mainly in emerging countries such as China and India in Asia Pacific; and rise in construction activities in Asia Pacific are driving the market in the region.
  • North America is also an important region of the global stainless steel plate market. Rapid production and consumption of stainless steel and related products in the region is a key factor contributing to the growth of the stainless steel plate market in the region.
  • Europe is likely to be a high potential region of the global stainless steel plate market during the forecast period. Growth in awareness regarding beneficial use of stainless steel in various industrial sectors such as automotive, construction, electronics, and renewable industries is estimated to drive the stainless steel plate market in the region.

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Key Players in Stainless Steel Plate Market

Key players operating in the global stainless steel plate market include:

  • Tata Steel
  • Outokumpu
  • Baosteel Group Hu
  • Yieh Corp
  • POSCO
  • Jindal Steel & Power Ltd.
  • Acerinox S.A.
  • JiuQuan Iron and Steel (Group) Co.,Ltd
  • LISCO
  • Aperam
  • AK Steel Corporation.
  • Nippon Steel & Sumitomo Metal Corporation
  • JFE Steel Corporation

Global Stainless Steel Plate Market: Research Scope

Global Stainless Steel Plate Market, by Type

  • Martensitic Plate
  • Ferritic Plate
  • Austenitic Plate
  • Duplex (Ferritic-austenitic Plate)
  • Precipitation-hardening Plate

Global Stainless Steel Plate Market, by Application

  • Food Processing
  • Energy
  • Construction
  • Automotive & Heavy Transport
  • Industrial & Heavy Industry
  • Others (including Medical and Home Appliances)

Global Stainless Steel Plate Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Stainless Steel Plate Market

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