Global stainless steel market to grow at CAGR of 4.7% in 2023-2029
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Update time : 2023-05-22 17:23:50
According to a report from Maximize Market Research, the value of the global stainless steel market was US$132.7 billion in 2022, and the market size was expected to reach US$223.7 billion by 2029, growing at a compound annual growth rate (CAGR) of 4.7% during the period from 2023 to 2029.
The potential growth of the stainless steel market is boosted by the demand for sustainable and eco-friendly materials as awareness of using recycled steel products is on the rise. The demand from end-use industries, including chemical/petrochemical products, vehicles, medical products, and energy fields, is also increasing, pushing growth in the regional market.
Production of LME deliverable KAS-branded aluminium at Kazakhstan’s Eurasian Resources Group has reached the four-million-tonnes milestone
