Global stainless steel marke size to reach $133.8 bn by 2025

摘要

Stainless steel market globally is expected to reach USD 133.8 billion by 2025 at a 5.2% CAGR, according to a new report by Grand View Research, Inc. The market is anticipated to expand mainly due to advantages such as increased formability, weldability, corrosion resistance, and aesthetic appearance. Annual global crude stainless steel production for 2017 is estimated to have totalled an all-time high of around 48 million tonne, which represents a year-on-year increase of 4.9 percent, according to the UK-based research firm MEPS. Further, it forecasts a rise in worldwide outturn of nearly 5 percent in 2018, to a new peak of 50.3 million tonne.