India Stainless Steel Market Size & Outlook, 2021-2030
India stainless steel market, 2018-2030 (US$M)
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India stainless steel market highlights
- The India stainless steel market generated a revenue of USD 7,851.1 million in 2021 and is expected to reach USD 18,825.3 million by 2030.
- The India market is expected to grow at a CAGR of 10.2% from 2022 to 2030.
- In terms of segment, 300 series was the largest revenue generating grade in 2021.
- Duplex series is the most lucrative grade segment registering the fastest growth during the forecast period.
Stainless steel market data book summary
| Market revenue in 2021 | USD 7,851.1 million |
| Market revenue in 2030 | USD 18,825.3 million |
| Growth rate | 10.2% (CAGR from 2021 to 2030) |
| Largest segment | 300 series |
| Fastest growing segment | Duplex series |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | 200 series, 300 series, 400 series, Duplex series |
| Key market players worldwide | Acerinox SA, Aperam, ArcelorMittal SA Depository Receipt, BAOSTEEL, Jindal Stainless, Nippon Steel Corp, Outokumpu Oyj Class A, POSCO Holdings Inc ADR, Thyssenkrupp AG, Yieh United Steel |
Other key industry trends
- In terms of revenue, India accounted for 7.5% of the global stainless steel market in 2021.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China stainless steel market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 18,825.3 million by 2030.
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Stainless Steel Market Scope
Stainless Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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India stainless steel 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 market will help companies and investors design strategic landscapes.
300 series was the largest segment with a revenue share of 41.8% in 2021. Horizon Databook has segmented the India stainless steel market based on 200 series, 300 series, 400 series, duplex series covering the revenue growth of each sub-segment from 2018 to 2030.
Government initiatives such as ‘Skill India’ and Make in India’ are important factors in the growth of the market. This has prompted many automakers to set their offices in India and procure high-quality products from stainless steel vendors in India.
The growing demand for auto products due to rising automotive production, increase in export, and diversification of the auto sector has created a positive impact on the stainless steel industry. Although, India automotive industry shows great potential and short term sluggish behavior of the market is expected to be nullify over the long term period.
Long-term expansion strategies by top car manufacturers are likely boost the demand for stainless steel. In July 2018, Maruti Suzuki announced its plan to increase the production capacity by 7.5 lakh units of passenger cars in Gujarat plant by 2020. This is expected to create a positive impact on the stainless steel market growth over the forecast period.
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Our clientele includes a mix of stainless steel market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India stainless steel market , including forecasts for subscribers. This country databook contains high-level insights into India stainless steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India stainless steel market size, by grade, 2018-2030 (US$M)
India Stainless Steel Market Outlook Share, 2021 & 2030 (US$M)
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