SAN FRANCISCO, July 14, 2016 /PRNewswire/ --
The global stainless steel market is expected to reach USD 127.19 billion by 2024, according to a new report by Grand View Research, Inc. Stainless steel finds wide application in various end-use industries including building & construction, transportation, industrial machinery, household appliances, metal goods, and electronics owing to inherent characteristics such as durability, high tensile strength, and resistance.
(Logo: http://photos.prnewswire.com/prnh/20150105/723757 )
Rapid urbanization and improving socio-economic standards coupled with expanding middle-class population is expected to be the key factor driving market demand, particularly in the infrastructure sector. Increasing investment in construction and infrastructure led to an 8% increase in demand for long products in the past few years.
Stainless steel is extensively used in petrochemical as well as oil exploration & production industries. Rising oil exploration and production activities across the globe to meet growing energy requirements is expected to further drive stainless steel demand over the forecast period. Stainless steel forms the basis of production of pressure valves, heat exchangers, cracking furnaces, tanks, chemical tankers, and process pipes in the petrochemical industry. On the other hand, it is used in sub-sea systems, offshore platforms and LNG tankers in case of exploration equipment.
Browse full research report with TOC on "Stainless Steel Market Analysis By Grade (200 Series, 300 Series, 400 Series, Duplex), By Product (Long, Flat), By Application (Building & Construction, Heavy Industries, Automotive, And Consumer Goods) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/stainless-steel-market
Further key findings from the report suggest:
Request for sample of this research report: http://www.grandviewresearch.com/industry-analysis/stainless-steel-market/request
Grand View Research has segmented the global stainless steel market on the basis of grade, product, application and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Read Our Blogs - ni2014.org , grandviewresearch.com/blogs/advanced-materials
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: http://www.grandviewresearch.com
Share this article