DUBLIN, Dec 7, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Stainless Steel Market 2016-2020" report to their offering.
The global stainless steel market to grow at a CAGR of 5.65% during the period 2016-2020.
Global Stainless Steel Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the revenue generated from the sales of stainless steel.
Rationalization of capacity will gain traction in this market. China has the largest excess steel capacity in the world. According to the draft released by the Chinese government, Steel Industry Adjustment Policy (2015 Revision), the Chinese steel industry will be moved toward a new economic model in order to deal the excess steel capacity in China. It also aims at achieving 80% capacity utilization by 2017. To reach this level, Chinese steel sector will need a closure of 112.5MT of capacity per year keeping the production same. Currently, the steel capacity utilization is below 70% in China.
According to the report, the oil and gas production has become difficult as the conventional reserves are exhausted, leading to exploration of more difficult fields to meet the oil and gas demand. This is leading to an increase in offshore and deep water exploration. These fields have high temperature and pressure, with high CO2 levels and high H2H content, thus requiring stainless steel to withstand such conditions.
Further, the report states that one of the major challenges faced by the steel market is excessive production capacity. With steel supply overtaking demand, the capacity utilization ratio has reached -65% in 2015. This has resulted in reduced profit margins for steel manufacturers. Over the past decade, the steel industry has been investing in capacity expansion at a rapid pace because of the availability of relatively attractive interest rates for new investments, low production costs, and an open international market.
- AK Steel
Other prominent vendors
- Guangxi Chengde Group
- JFE Steel
- Nippon Steel and Sumitomo Metal
- Shanghai Baosteel Group (Baosteel)
- TATA Steel Europe
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product form
Part 07: Market segmentation by end-user
Part 08: Geographical segmentation
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
For more information about this report visit http://www.researchandmarkets.com/research/rc95k8/global_stainless
Laura Wood, Senior Manager
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SOURCE Research and Markets