U.S. & Mexico Stainless Steel Market Analysis, COVID-19 Impact,Outlook, Opportunities, Size, Share Forecast and Supply Demand 2021-2027|Trusted Business Insights

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the U.S. & Mexico Stainless Steel market.

Trusted Business Insights presents an updated and Latest Study on U.S. & Mexico Stainless Steel Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the U.S. & Mexico Stainless Steel market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ U.S. & Mexico Stainless Steel Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19

Report Overview: U.S. & Mexico Stainless Steel Market

The U.S. & Mexico stainless steel market size was valued at USD 10.69 billion in 2020 and is expected to register a compounded annual growth rate (CAGR) of 3.4% from 2021 to 2027. Increasing demand from the consumer goods sector is estimated to be the primary factor driving market growth. The consumer durables industry is anticipated to attract significant demand for stainless steel. It is one of the dynamic and fastest-growing industries across the U.S. & Mexico. Demand for kitchenware, cutlery, and home appliances is projected to contribute to the growth of the market.

For instance, as per the data released by the U.S. census bureau in 2018, improving housing market coupled with steady growth in wages and robust private consumption resulted in positive sales trend for the consumer durables industry in the U.S. This market is projected to be driven by rising product demand from cookware, kitchen equipment, processing equipment, and decorative applications.

Many home appliances companies have increased the use of stainless steel to manufacture their products over the past years. For instance, Groupe SEB, manufacturer of small appliances, uses a significant amount of stainless steel (about 15,000 tons annually), out of which, around 40% are ferritic grades used for induction cookware, frying pans, and cookware lids. In May 2018, the U.S. government slapped anti-dumping tariffs against the imports of stainless steel flanges from China.

The Department of Commerce in its preliminary investigation found that Chinese exports were 257.1% below the domestic prices. Thereby, directly affecting the sales volume of the domestic producers of the country. Amidst trade tension and protectionist policy of the U.S. government, the imports of stainless steel products observed a decline of nearly 16% from 2017 to 2018 while the domestic production observed growth of nearly 2.0%.

Grade Insights: U.S. & Mexico Stainless Steel Market

300 series led the grade segment in 2018 and accounted for a share of more than 58%. Properties of 300 series (austenitic), such as corrosion-resistant, high-temperature resistance, and easy maintenance, make them suitable for consumer goods, automotive, and aerospace applications.

400 series (ferritic) have higher carbon content and thus, have lower rust and corrosion resistance as compared to other series. Properties of 400 series, such as high strength and wear resistance, make them suitable in manufacturing agricultural equipment, motor shafts, knife blades, surgical instruments, and gas turbine exhaust silencers.

Duplex series is predicted to observe the fastest growth from 2019 to 2025. They possess higher toughness than ferritic grades while simultaneously having twice the strength (in few cases) of austenitic stainless steel. Their lightweight and high strength make them suitable for use in the construction of water tanks, brewing tanks, and swimming pools.

Product Insights: U.S. & Mexico Stainless Steel Market

Flat products segment led the global market in 2018 and accounted for a share of more than 69%. The dominance of flat products is mainly attributed to their widespread usage in building & construction, automotive & transportation, and heavy industries including oil & gas and chemical industries.
Long products are predicted to register a steady CAGR of 3.7%, in terms of revenue, from 2019 to 2025. Rising spending in the construction sector coupled with the increasing use of long products in several heavy industries is the major factor driving the growth of this segment.

Application Insights: U.S. & Mexico Stainless Steel Market

Consumer goods led the market in 2018 and accounted for 36.0% of the revenue share. Stainless steel fulfills the primary requirements of the material used for consumer goods manufacturing, such as aesthetically pleasing look, strong corrosion-resistance, and good mechanical properties over wide range of temperatures. It is an excellent material for commercial, industrial, and residential HVAC applications and is mainly used to manufacture heat exchangers, gas heaters, air handling units and several other cooling, ventilation, and heating components.

In the automotive & transportation industry, an average passenger car consumes about 15 to 22 kg of stainless steel. Currently, it is mainly used for exhaust systems in vehicles while the future growth is likely to be driven by its use as a structural component in automobiles. The product is widely used in the building & construction industry owing to its aesthetic appearance and corrosion resistance properties. Moreover, it can be easily fabricated and provides strength and support to a building structure owing to its high durability.

Regional Insights: U.S. & Mexico Stainless Steel Market

The U.S. led the market in 2018 and accounted for 78% of the overall share. High product demand from large-scale consumer goods, automotive, and construction applications in the country is the major factor promoting market growth.
Southwest U.S. is estimated to record the fastest growth in the U.S. from 2019 to 2025. States including Texas and New Mexico is likely to witness steady demand from heavy industries. Texas State is expected to observe nearly USD 1 billion refinery work investments over the coming years. For instance, in 2019, Meridian Energy Group Inc. announced plans to set up a refinery in Winkler County, Texas.

Mexico is projected to have promising growth from 2019 to 2025 due to rising automobile production in the country. The automotive production in Mexico increased by nearly 13% in 2017 and 0.9% in 2018, as per the stats released by the International Organization of Motor Vehicle Manufacturers (OICA). Thereby, aiding to strong growth in stainless steel demand in the country.

Key Companies & Market Share Insights: U.S. & Mexico Stainless Steel Market

The U.S. & Mexico stainless steel market is characterized by mostly regional companies with a few of them catering to the international market as well. The industry players compete on the basis of price and quality of the product offered. Companies are devising strategies to enhance their capacity through merger & acquisition. For instance, in 2018, Outokumpu acquired Fagersta wire rod mill in Sweden. The acquisition was made to enhance technological capabilities to produce stainless steel wire rods. Some of the prominent players in the U.S. & Mexico stainless steel market include:

Key companies Profiled: U.S. & Mexico Stainless Steel Market Report

  • ATI
  • AK Steel Corp.
  • Continental Steel & Tube Company
  • Plymouth Tube Company
  • Universal Stainless, Inc.
  •     Aperam
  • Electralloy
  • Outokumpu

This report forecasts revenue and volume growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. Trusted Business Insights has segmented the U.S. & Mexico stainless steel market report on the basis of grade, product, application, and region:

Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • 200 series
  • 300 series
  • 400 series
  • Duplex series
  • Others

Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • Flat
  • Long

Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • Building & construction
  • Automotive & transportation
  • Consumer goods
  • Heavy industries
  • Others


Looking for more? Check out our repository for all available reports on U.S. & Mexico Stainless Steel in related sectors.

Quick Read Table of Contents of this Report @ U.S. & Mexico Stainless Steel Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19


Trusted Business Insights
Shelly Arnold
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580

Next Post

Gluten-Free Bakery Food Market Size 2020 Demand, Global Trend, News, Business Growth, Top Key Players Update, Business Statistics and Research Methodology by Forecast to 2026

Gluten-Free Bakery Food Industry Market Report Coverage: Key Growth Factors & Challenges, Segmentation & Regional Outlook, Top Industry Trends & Opportunities, Competition Analysis, COVID-19 Impact Analysis & Projected Recovery, and Market Sizing & Forecast A recent market research report added to repository of Credible Markets is an in-depth analysis of […]

Subscribe US Now