This table contains 14 series, with data for years 1977 - 1995 (not all combinations necessarily have data for all years), and was last released on 2000-02-18. This table contains data described by the following dimensions (Not all combinations are available): Geography (4 items: Canada; Atlantic provinces and Quebec; Ontario; Prairie provinces and British Columbia ...), Manufacturer-installer selling price indexes (4 items: Field erected fabricated steel; Bulk storage tanks; Buildings; Bridges ...), Index base period (2 items: 1986=100; 1981=100 ...).

Steel fell to 2,951 CNY/T on June 24, 2025, down 0.44% from the previous day. Over the past month, Steel's price has fallen 3.25%, and is down 12.30% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on June of 2025.

Metal wholesalers in Canada distribute metal products to a variety of markets that use them as inputs. Three manufacturing subsectors account for the bulk of demand for metals, including machinery, fabricated metal and transportation equipment manufacturers. Despite considerable volatility, demand from these segments is estimated to have risen since 2019. Throughout the period, industry performance has varied in response to fluctuations in the price of steel and iron. Revenue growth has also been influenced by changes in oil and natural gas prices, which impact downstream activity in manufacturing and construction markets. Changes in consumer spending during the COVID-19 pandemic also affected these key markets. Over the past five years, metal wholesaling revenue is estimated to rise at a CAGR of 4.4% to $31.4 billion in 2024, when revenue is forecast to fall by 0.9%. Variations in steel prices have influenced performance through the end of 2024. Global steel overcapacity, alongside falling demand from oil and gas markets during the pandemic, led to sharp declines in prices and volumes. The price environment began to change as the economy began to recover in 2021 when metal prices rose sharply. Cooling economic growth is expected to cause revenue to slightly decline in 2024, though average industry profit is forecast to remain relatively steady. Metal wholesaling revenue is expected to fall at a CAGR of 1.2% to $29.6 billion through the end of 2029. While manufacturing growth will be moderate, iron prices are forecast to decline from recent highs. Iron and steel demand from downstream industries is forecast to remain mixed, helping to partially offset unfavourable price changes. Forecast global economic growth is expected to encourage nonresidential construction activity and consumer spending, further moderating any drop in revenue.

Get the latest insights on price movement and trend analysis of Steel in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Get the latest insights on price movement and trend analysis of Steel I Beam in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

This table contains 14 series, with data for years 1977 - 1995 (not all combinations necessarily have data for all years), and was last released on 2000-02-18. This table contains data described by the following dimensions (Not all combinations are available): Geography (4 items: Canada; Atlantic provinces and Quebec; Ontario; Prairie provinces and British Columbia ...), Manufacturer-installer selling price indexes (4 items: Field erected fabricated steel; Bulk storage tanks; Buildings; Bridges ...), Index base period (2 items: 1986=100; 1981=100 ...).

HRC Steel fell to 907.05 USD/T on June 24, 2025, down 0.43% from the previous day. Over the past month, HRC Steel's price has risen 0.89%, and is up 34.18% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for HRC Steel.

Canada IPPI: NAPCS: FC: Metal Building & Construction Materials data was reported at 147.400 Jan2020=100 in Mar 2025. This records an increase from the previous number of 145.100 Jan2020=100 for Feb 2025. Canada IPPI: NAPCS: FC: Metal Building & Construction Materials data is updated monthly, averaging 89.200 Jan2020=100 from Jan 2010 (Median) to Mar 2025, with 183 observations. The data reached an all-time high of 157.700 Jan2020=100 in Jul 2022 and a record low of 74.600 Jan2020=100 in Jan 2010. Canada IPPI: NAPCS: FC: Metal Building & Construction Materials data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I010: Industrial Product Price Index: NAPCS 2017: Jan2020=100.

The North America structural steel fabrication market, currently valued at an estimated $25 billion in 2025, is projected to experience robust growth, driven by a Compound Annual Growth Rate (CAGR) of 5.83% from 2025 to 2033. This expansion is fueled by several key factors. The ongoing surge in construction activities, particularly in infrastructure development and commercial projects across the United States, Canada, and Mexico, significantly boosts demand for fabricated steel. Furthermore, the increasing adoption of sustainable building practices, with steel recognized as a recyclable and durable material, further propels market growth. The energy sector's ongoing investments in renewable energy infrastructure, such as wind turbine towers and solar panel mounting structures, also contribute to this upward trend. While potential supply chain disruptions and fluctuations in steel prices pose challenges, the long-term outlook remains positive, especially with government initiatives promoting infrastructure modernization and sustainable development. The market segmentation reveals a strong demand across various end-user industries, including manufacturing, power and energy, and construction, with heavy sectional steel maintaining a significant market share. Leading companies like Valmont Industries Inc, Cornerstone Building Brands Inc, and Groupe Canam Inc are leveraging their expertise and innovative solutions to capitalize on this growing market. The market's growth trajectory is expected to be further influenced by technological advancements in steel fabrication techniques, leading to increased efficiency and reduced costs. The increasing use of automation and robotics in fabrication processes, along with the development of high-strength, lightweight steel alloys, are key trends shaping the industry's future. Competition among established players and emerging companies will intensify, fostering innovation and driving down prices for consumers. However, navigating potential raw material price volatility and maintaining a skilled workforce will remain crucial for market players to sustain profitability and competitiveness in the coming years. The forecast suggests a continued expansion of the market throughout the forecast period (2025-2033), underpinned by consistent growth in infrastructure investments and the ongoing need for robust and sustainable construction materials across North America. Recent developments include: Jun 2022: Vancouver-based BM Group acquired LE Steel Fabricators Ltd. This acquisition will give them the opportunity to enter an existing sector from a different angle while carrying out more substantial repair and restoration operations. Additionally, BM Group's clients benefit from cost reductions, efficiency, and other advantages as a result of its strong financial position and varied portfolio of companies., Apr 2022: Terex announced the acquisition of Steelweld, a large parts manufacturer based in Northern Ireland. The acquisition of Steelweld will support Materials Processing's growth strategy by increasing its manufacturing capacity in Northern Ireland.. Key drivers for this market are: 3., Rapid Growth In the Infrastructure Sector3.; Increased Demand for Steel Products. Potential restraints include: 3., Rapid Growth In the Infrastructure Sector3.; Increased Demand for Steel Products. Notable trends are: Increased Use of Blockchain, Internet of Things, and Industry 5.0.

In 2025, the Canadian metal pipe and tube manufacturing industry is expected to encounter significant challenges due to US tariffs on steel products. These tariffs threaten to disrupt the sector's reliance on the US market, causing potential revenue declines. The industry's dependence on construction activity, particularly in utility and heavy engineering projects, underscores its vulnerability to fluctuating construction demand. Aside from these challenges, the oil and gas sectors continue to be critical, driving demand for pipes and tubing, especially for oil country tubular goods. The industry's ability to adapt and diversify its market base will be key for overcoming these hurdles. Iron and steel price volatility presents an ongoing challenge, influencing product pricing. With supply chain disruptions and fluctuating input costs, manufacturers frequently pass added costs onto buyers, though they sometimes absorb these costs, affecting profit margins. Industry revenue is forecast to rise at a CAGR of 5.3% to $4.9 billion through the end of 2025 largely owing to notable growth earlier in the period. During the current year, revenue is forecast to decline 3.1% due to weaker demand from US buyers despite potentially higher metal prices. The metal pipe and tube manufacturing industry is set to expand over the next five years owing to increased petroleum production and a surge in construction activities. Lower interest rates and large infrastructure projects are expected to further boost construction, creating more demand for metal products. While the automotive sector holds potential for growth, challenges such as US tariffs on steel products could hinder progress, affecting exports to the US market. The emergence of plastic alternatives like HDPE and PVC is reshaping demand, compelling metal manufacturers to innovate and enhance their offerings to stay competitive against these substitutes. Industry revenue is expected to grow at a CAGR of 0.9% to $5.1 billion through the end of 2030.

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Structural Steel Fabrication Market Size 2025-2029

The structural steel fabrication market size is forecast to increase by USD 43.4 billion at a CAGR of 5.1% between 2024 and 2029.

The market is experiencing significant growth due to the increasing infrastructure development in various sectors such as construction, transportation, and energy. Another key trend driving market growth is the adoption of automation and robotics in fabrication processes, which enhances productivity and reduces production time. However, the industry faces challenges related to the shortage of skilled labor, which can impact the quality of fabrication and increase costs. To address this issue, companies are investing in training programs and collaborating with educational institutions to develop a skilled workforce. Overall, these factors are shaping the growth trajectory of the market.

What will be the Size of the Structural Steel Fabrication Market During the Forecast Period?

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The market encompasses the production of custom-designed, high-strength, and heavy-duty structures using advanced fabrication techniques for various industries, including building construction, infrastructure development, aerospace, automotive, and industrial metal fabrication. Durability and safety are paramount in this sector, with a focus on engineering services, manufacturing solutions, and sustainability. The market is driven by increasing infrastructure development, energy production, and transportation projects, as well as the need for compliance with certifications and regulations.



Pricing, logistics, and capacity are significant factors influencing market dynamics. Sustainability and traceability are also becoming essential considerations, with a growing emphasis on reducing costs and improving efficiency through innovative engineering and manufacturing processes. The market caters to diverse industries, from bridge construction and offshore structures to mining and industrial construction materials. Safety, certifications, and compliance are critical aspects of the supply chain, with a strong focus on ensuring the highest standards of quality and reliability. Corrosion resistance and welding techniques are also essential factors In the production of structural steel units, ensuring durability and longevity for end-users.

How is this Structural Steel Fabrication Industry segmented and which is the largest segment?

The structural steel fabrication industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Material

  Carbon steel
  Stainless steel
  Others


End-user

  Construction
  Energy and power
  Manufacturing
  Automotive
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  Middle East and Africa



  South America

    Brazil

By Material Insights

The carbon steel segment is estimated to witness significant growth during the forecast period.

Carbon steel is a widely used material In the structural steel fabrication industry, recognized for its exceptional strength, affordability, and versatility. This material is essential in constructing various structures, including buildings, bridges, and industrial equipment, across multiple sectors. The fabrication process involves cutting, welding, and assembling carbon steel to create structural components such as beams, columns, and trusses, tailored to specific engineering requirements. Carbon steel's high strength-to-weight ratio is a significant advantage, offering optimal strength while minimizing weight. This property is crucial in applications requiring the support of heavy loads without excessive bulk. Furthermore, carbon steel is cost-effective compared to other materials like stainless steel and aluminum, making it an economical choice for projects without compromising performance.

The fabrication industry utilizes advanced technologies, such as 3-D modeling, augmented reality, and machining, to ensure precision and efficiency in production. Additionally, sustainable practices and energy-efficient fabrication methods are increasingly adopted to minimize environmental hazards and reduce greenhouse gas emissions. The industry caters to various sectors, including automotive manufacturing hubs, power plants, infrastructure development, and construction, among others. Carbon steel's durability and cost benefits make it a preferred choice for long-term infrastructure investments.

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The carbon steel segment was valued at USD 74.60 billion in 2019 and showed a gradual increase du

Canada IPPI: Intermediate Goods: Second Stage: Fabricated Metal: Fabricated Structural Metal data was reported at 130.700 2002=100 in Oct 2013. This records a decrease from the previous number of 130.800 2002=100 for Sep 2013. Canada IPPI: Intermediate Goods: Second Stage: Fabricated Metal: Fabricated Structural Metal data is updated monthly, averaging 98.300 2002=100 from Jan 1986 (Median) to Oct 2013, with 334 observations. The data reached an all-time high of 137.300 2002=100 in Aug 2008 and a record low of 76.100 2002=100 in Feb 1992. Canada IPPI: Intermediate Goods: Second Stage: Fabricated Metal: Fabricated Structural Metal data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I016: Industrial Product Price Index: 2002=100.

Get the latest insights on price movement and trend analysis of Stainless Steel in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

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Steel Manufacturing Market Size 2025-2029

The steel manufacturing market size is forecast to increase by USD 455.4 billion, at a CAGR of 4.5% between 2024 and 2029.

The market is driven by the increasing consumption of high-strength steel, which is increasingly preferred in various industries due to its superior properties. This trend is further fueled by the growing demand for steel and stainless steel scrap, serving as crucial raw materials in steel production. However, the market faces challenges from excess production capacity, leading to intense competition and price pressures. Companies must navigate these dynamics to capitalize on opportunities and maintain profitability. Strategic initiatives such as innovation, operational efficiency, and geographic expansion can help steel manufacturers stay competitive and thrive in this dynamic market.

What will be the Size of the Steel Manufacturing Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, driven by dynamic market conditions and shifting applications across various sectors. Basic oxygen furnaces and blast furnaces remain the cornerstone of steel production, transforming iron ore into molten steel for further processing. The resulting steel is then shaped through continuous casting, hot rolling, and cold rolling into various forms such as bars, slabs, sheets, tubes, pipes, and plates. Steel consumption patterns are influenced by the demands of industries like consumer goods, automotive, construction, and energy. Stainless steel, with its superior strength and resistance to corrosion, finds extensive use in these sectors. Steel imports and exports shape global supply chains, with electric arc furnaces playing a crucial role in steel recycling and the production of alloy steel and high-strength steel. Steel grades and quality standards are continually evolving to meet the specific requirements of various applications. Carbon steel, galvanized steel, and prepainted steel are some of the many grades available. Steel pricing remains a critical factor, influenced by production costs, supply and demand, and market trends. The ongoing development of steel manufacturing technology further enhances the industry's ability to meet the evolving needs of its diverse customer base.

How is this Steel Manufacturing Industry segmented?

The steel manufacturing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userConstructionMachineryAutomotiveMetal productsOthersTypeFlatLongGeographyNorth AmericaUSCanadaEuropeFranceGermanyRussiaUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW).

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.The market is driven by the construction sector, which accounted for the largest share in 2024. This growth can be attributed to the construction of infrastructure projects such as skyscrapers, tech parks, roads, motorways, and bridges. Steel's strength and ductility make it an ideal choice for the building industry. It is commonly used in the production of high-strength plates for roads and bridges, rectangular tubing for welded frames, and beams for structural frameworks. Rebar and hollow structural components are also manufactured using steel. Additionally, steel is utilized in sign poles, fences, caissons, columns, culverts, pilings, and handrails due to its properties of durability, affordability, and adaptability for prolonged exposure to weather. Steel manufacturing processes include the use of electric arc furnaces, basic oxygen furnaces, and blast furnaces. Steel grades such as carbon steel, alloy steel, stainless steel, and high-strength steel are produced using these processes. Steel production capacity is increased through continuous casting, hot rolling, cold rolling, and continuous annealing. Steel scrap is recycled and reused in the manufacturing process, contributing to the sustainability of the industry. Steel applications extend beyond the construction industry to consumer goods, transportation, packaging, and industrial machinery. Prepainted steel, galvanized steel, and steel coatings are used in the production of appliances, automobiles, and packaging materials. Steel tubes and pipes are utilized in the oil and gas industry for transportation and storage. Steel wires are used in various applications such as fencing, wire ropes, and electrical conductors. Steel exports and imports play a significant role in the global steel market. Steel production and consumption vary across regions, leading to fluctuations in prices. Steel qu

Canada's Metal Plating and Treating industry has fallen substantially amid general economic factors relating to the pandemic. This industry provides services to fabricated metal product manufacturers, such as structural steel, steel sheet and steel coil manufacturers. Since the construction sector (IBISWorld report 23) is one of the largest buyers of industry services, a decline in demand will likely heavily affect industry operators. Revenue is forecast to decline at a CAGR of 2.6% to $2.5 billion through the end of 2024, with 4.5% growth expected during the current year as demand and metal prices normalize. The industry has contended with countervailing forces, specifically falling nonresidential construction values and heightened residential construction and manufacturing demand during the period. Notably, the industry remains threatened by outsourced services to metal-treating companies located in countries with low labour costs. Additionally, as downstream businesses increasingly turn to international markets to obtain precoated metal products, industry operators are expected to experience heightened pricing and demand pressures. Global competition, fluctuating demand, and volatile input costs have significantly affected industry profit. This industry is projected to grow as demand from most manufacturing (31-33) and construction sectors stabilizes. The construction sector is anticipated to grow, leading to consistent demand for zinc-coating services. The manufacturing sector is also forecast to increase, sustaining demand for galvanization and other metal-treating services. Metal plating and treating revenue is expected to grow at a CAGR of 2.3% to $2.8 billion through the end of 2029, which aligns with these trends.

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Carbon Steel Market Size 2024-2028

The carbon steel market size is forecast to increase by USD 187.59 billion at a CAGR of 3.58% between 2023 and 2028.

The market is experiencing significant growth, driven primarily by the increasing demand in the construction industry for its durability and cost-effectiveness. This sector's expansion is further fueled by the global shift towards sustainable manufacturing practices, as carbon steel's production process emits less greenhouse gases compared to other steel types. However, the market is not without challenges. Volatile prices of raw materials, such as iron ore and coal, pose a significant threat to market growth. Producers must navigate these price fluctuations to maintain profitability and remain competitive. To capitalize on market opportunities and navigate challenges effectively, companies must focus on operational efficiency, supply chain optimization, and strategic sourcing of raw materials. Additionally, investments in research and development to improve production processes and create value-added products can differentiate market players and provide a competitive edge. Overall, the market presents a compelling growth opportunity for investors and businesses, with the potential for significant returns in the long term.

What will be the Size of the Carbon Steel Market during the forecast period?

Request Free SampleCarbon steel, a fundamental component in construction and engineering, continues to shape industries with its versatile properties and evolving trends. Steel architecture's growth is driven by stringent safety standards and advanced forming processes, leading to innovative product development. Traceability and certification are crucial in ensuring steel's quality and reliability, while R&D and collaborations propel industry 4.0 and circular economy initiatives. Microstructure analysis and inspection standards play a pivotal role in enhancing steel's performance and sustainability. Simulation, testing methods, and optimization software facilitate efficient manufacturing processes and smart steel applications. Industry associations and partnerships foster knowledge exchange and digitalization, enabling a competitive market landscape. Steel's investment potential lies in its versatility, as it adapts to various engineering applications and welding processes. Sustainability initiatives and quality control measures further strengthen its appeal. Green steel, a promising trend, focuses on reducing carbon emissions and improving overall environmental impact. In the realm of steel manufacturing, collaboration, innovation, and adherence to industry standards are key to staying competitive. The future holds exciting possibilities as steel continues to adapt and evolve, offering endless opportunities for businesses.

How is this Carbon Steel Industry segmented?

The carbon steel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. End-userConstructionShipbuildingAutomotiveTransportationOthersTypeLow carbon steelMedium carbon steelHigh carbon steelProductLong SteelFlat SteelTubular SteelGeographyAPACChinaIndiaJapanEuropeFranceGermanyItalyUKNorth AmericaUSCanadaMiddle East and AfricaEgyptKSAOmanUAESouth AmericaArgentinaBrazil

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.Carbon steel plays a pivotal role in various industries, including construction, manufacturing, energy, and transportation. In the construction sector, carbon steel's high strength and ductility make it an ideal choice for constructing high-rise buildings, tech parks, roads, highways, bridges, and other infrastructure projects. The global construction industry is experiencing moderate growth, driven by the increasing demand for residential and commercial buildings worldwide. Heavy equipment and industrial machinery also rely heavily on carbon steel for their manufacturing due to its heat resistance and wear resistance. The energy sector utilizes carbon steel pipes and plates for their high strength-to-weight ratio and corrosion resistance, making them suitable for transporting oil and gas. Steel manufacturers employ various processes such as forming, finishing, optimization, and recycling to produce different grades of carbon steel, including high strength steel, stainless steel, and alloy steel. These grades cater to diverse applications, including automotive, aerospace, and advanced technology industries. Steel suppliers and distributors play a crucial role in the steel supply chain by ensuring timely delivery of steel products to various industries. Steel prices are influenced by several factors, including production costs, demand, and market conditions. Steel research an

The Canadian metal fabrication equipment market, valued at approximately $1.5 billion CAD in 2025, is projected to experience robust growth, exceeding a 6% Compound Annual Growth Rate (CAGR) through 2033. This expansion is driven by several key factors. Firstly, a surge in construction activity, fueled by both residential and commercial projects, significantly boosts demand for metal fabrication equipment. Secondly, the burgeoning oil and gas sector, alongside increasing investments in renewable energy infrastructure, further fuels market growth. The manufacturing sector, a consistent driver of demand, continues to modernize and adopt automation technologies, increasing reliance on advanced metal fabrication equipment like automatic and semi-automatic systems. Finally, government initiatives promoting infrastructure development and industrial growth contribute positively to market expansion. However, several factors could potentially restrain market growth. Fluctuations in commodity prices, particularly steel and aluminum, directly impact production costs and equipment demand. Additionally, increasing labor costs and a skilled labor shortage could pose challenges. The market is segmented by service type (machining and cutting, forming, welding, others), product type (automatic, semi-automatic, manual), and end-user industry (manufacturing, power and utilities, construction, oil and gas, others). Key players, including BTD Manufacturing, Colfax, Komaspec, Matcor Matsu Group Inc, Sandvik Mining and Construction Canada Inc, STANDARD IRON & WIRE WORKS INC, TRUMPF Canada Inc, Atlas Copco, AMADA Canada, and DMG MORI Canada, are actively shaping market dynamics through innovation and technological advancements. This competitive landscape is expected to further accelerate the adoption of advanced equipment, driving overall market growth. This comprehensive report provides a detailed analysis of the Canada metal fabrication equipment industry, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, the report offers valuable insights into market size, growth drivers, challenges, and future trends. This in-depth study uses historical data from 2019-2024 and projects the market's trajectory until 2033, providing a crucial resource for businesses, investors, and policymakers navigating this dynamic sector. Key search terms include: Canadian metal fabrication, metal fabrication equipment market Canada, Canadian metalworking machinery, industrial automation Canada, metal forming equipment Canada. Recent developments include: February 2022: Arrow Machine and Fabrication Group of Guelph, Ontario, announced the acquisition of Steelcraft, a Kitchener, Ontario, steel design, engineering, and fabrication firm. This acquisition expands Arrow's global customer base and manufacturing footprint. It also further promotes the company's strategy of partnering with leading operator-run machining and fabrication organizations to leverage their collective capabilities, solve customer problems, and develop deeper supply chain interactions., January 2022: Ag Growth International Inc. (AGI) completed the acquisition of Eastern Fabricators, Prince Edward Island, Canada. Eastern specializes in the engineering, design, fabrication, and installation of stainless-steel equipment and systems for food processors. Eastern operates three facilities in Canada, with two in Prince Edward Island and one in Ontario.. Notable trends are: Construction Industry Offers Immense Demand for the Metal Fabrication Equipment.

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Stainless Steel Market Size 2023-2027

The stainless steel market size is forecasted to increase by 10,299.64 thousand tons at a CAGR of 3.38% between 2022 and 2027. Market growth relies on various factors, notably the increased consumption of high-strength stainless steel, propelled by its corrosion resistance and excellent mechanical properties. Additionally, economic expansion in China and India contributes significantly to market growth. As these nations continue to develop industrially and infrastructurally, the demand for stainless steel, particularly for construction and manufacturing applications, is expected to rise. This confluence of factors positions the market for substantial growth in the foreseeable future. Furthermore, the stainless steel market analysis report includes historic market data from 2017 to 2021. The stainless steel market forecast indicates robust expansion, driven by increasing demand for steel across various industries. The stainless steel market size growth is propelled by advancements in production technologies and the rise of sustainable manufacturing practices. Current stainless steel market trends show a surge in applications, particularly in construction and automotive sectors, underscoring its vital role in modern infrastructure.

What will be the Size of the Stainless Steel Market During the Forecast Period?

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Stainless Steel Market Segmentation

The stainless steel market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Million' for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments

End-user Outlook 

  Metal products
  Mechanical engineering
  Automobile and transportation
  Infrastructure and construction
  Electrical engineering





Product Outlook

  Flat
  Long





Region Outlook

  North America

    The US
    Canada


  Europe

    The UK
    Germany
    France
    Rest of Europe


  APAC

    China
    India


  Middle East and Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East and Africa


  South America

    Argentina
    Brazil
    Chile

By End-user

The market share growth by the metal products segment will be significant during the forecast period. The use of stainless steel in metal products provides an aesthetic appeal, extensive textures, strength, functionality, corrosion resistance properties, and ease of cleaning properties such products, driving the growth of steel manufacturing. The demand for stainless steel for manufacturing metal products is high due to its ease of fabrication and mechanical properties.

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The metal products segment showed a gradual increase in the market share of 20,426.71 thousand t in 2017. Stainless steel is used in jewelry, belt buckles, clips, casings, watch straps and backs, cooker hoods, outdoor kitchen cabinets, worktops, drainers, sinks, and others. It is also used in kitchen vessels due to its hygiene properties, durability, and resilience to food discoloration and spoilage. The shift in consumer preference toward hygienic and easy-to-clean products is likely to increase the demand for stainless steel in metal products during the forecast period.

By Region

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APAC is estimated to account for 76% of the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC has some of the largest stainless steel-producing countries in the world, such as China, Japan, South Korea, and India. China was the largest producer and consumer of stainless steel in 2020. Manufacturers are shifting to the consumption of scrap steel and stainless steel as raw materials to reduce pollution as well as manufacturing costs. These factors will drive the growth of the market in APAC during the forecast period.

Stainless Steel Market Dynamics

The market plays a vital role across various sectors, including residential housing, building & construction, railways, and automotive & transportation. Its resistance to corrosion surpasses that of carbon steel, making it a preferred choice. Renowned companies like Jindal Steel and Daido Steel contribute to its production capacities. Stainless steel finds applications in diverse architectural elements such as railings, roofing, and staircases, offering both pliability and appealing aesthetic properties. Moreover, it serves industrial needs like heat exchangers and tubulars, alongside providing swimming pool shades, canopies, and atriums with durability and low maintenance cost during repair and renovation

Canada IPPI: NAICS: Mfg: Fabricated Metal Pdt: Architectural & Structural Metals data was reported at 133.700 2010=100 in Sep 2020. This records a decrease from the previous number of 134.500 2010=100 for Aug 2020. Canada IPPI: NAICS: Mfg: Fabricated Metal Pdt: Architectural & Structural Metals data is updated monthly, averaging 95.900 2010=100 from Jan 1992 (Median) to Sep 2020, with 345 observations. The data reached an all-time high of 135.300 2010=100 in Jun 2019 and a record low of 61.900 2010=100 in Aug 1992. Canada IPPI: NAICS: Mfg: Fabricated Metal Pdt: Architectural & Structural Metals data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.I014: Industrial Product Price Index: NAICS 2012: 2010=100.

Industrial product price index (IPPI), by major product group by North American Product Classification System (NAPCS) 2017 Version 2.0. Monthly data are available from January 1956. The table presents data for the most recent reference period and the last four periods. The base period for the index is (202001=100).