Middle East & Africa Stainless Steel 400 Series Market Size & Outlook
Middle East & Africa stainless steel 400 series market, 2018-2030 (US$M)
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MEA stainless steel 400 series market highlights
- The MEA stainless steel 400 series market generated a revenue of USD 634.9 million in 2021.
- The market is expected to grow at a CAGR of 3.8% from 2022 to 2030.
- In terms of segment, consumer goods was the largest revenue generating application in 2021.
- Consumer goods is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Gulf Cooperation Council is expected to register the highest CAGR from 2022 to 2030.
MEA data book summary
| Market revenue in 2021 | USD 634.9 million |
| Market revenue in 2030 | USD 890.6 million |
| Growth rate | 3.8% (CAGR from 2021 to 2030) |
| Largest segment | Consumer goods |
| Fastest growing segment | Consumer goods |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Building & Construction, Automotive & Transportation, Consumer goods, Mechanical Engineering & Heavy Industries, Medical, Aerospace, Other |
| Key market players worldwide | Acerinox SA, Outokumpu Oyj Class A, POSCO Holdings Inc ADR, Thyssenkrupp AG, BAOSTEEL, Yieh United Steel, Jindal Stainless, Fushun Special Steel, Aperam |
Other key industry trends
- In terms of revenue, MEA region accounted for 2.3% of the global stainless steel 400 series market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 36,238.9 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , Gulf Cooperation Council
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Stainless Steel 400 Series Market Scope
Stainless Steel 400 Series Market Companies
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Middle East & Africa stainless steel 400 series market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to stainless steel 400 series market will help companies and investors design strategic landscapes.
Consumer goods was the largest segment with a revenue share of 41.9% in 2021. Horizon Databook has segmented the Middle East & Africa stainless steel 400 series market based on building & construction, automotive & transportation, consumer goods, mechanical engineering & heavy industries, medical, aerospace, other covering the revenue growth of each sub-segment from 2018 to 2030.
Countries in the Middle East & Africa are developing at a fast pace owing to ongoing rapid industrialization and urbanization in the region. The Government of the UAE plans to increase the contribution of the manufacturing industry to its economy by diversifying its investments in other industries.
These factors are accelerating the use of machines and tools developed from stainless steel 400 series in different applications in different industries, thereby leading to the growth of the market in the region from 2022 to 2030.
The countries in the Middle East & Africa are expected to witness high economic growth in the coming years owing to diversification initiatives undertaken by their governments to reduce the dependence of these countries on their oil & gas industry.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa stainless steel 400 series market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa stainless steel 400 series market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA stainless steel 400 series market size, by country, 2018-2030 (US$M)
Middle East & Africa Stainless Steel 400 Series Market Outlook Share, 2021 & 2030 (US$M)
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