U.S. And Mexico Stainless Steel Market To Reach $20.63 Billion By 2030

U.S. And Mexico Stainless Steel Market Growth & Trends

The U.S. and Mexico stainless steel market size is anticipated to reach USD 20.63 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 9.2% from 2025 to 2030. Increasing product usage for consumer appliance manufacturing coupled with rising demand from building & construction industry is the primary factor driving the market growth. Stainless steel has several advantageous properties over other materials, such as high cryogenic toughness, corrosion resistance, ductility, attractive appearance, and high strength & hardness. Therefore, it has numerous applications in consumer goods, automotive, aerospace, marine, electronics, industrial machinery, and building & construction industries. Automotive & transportation sector is projected to witness a moderate growth owing to slowdown in automotive production in U.S.

However, stringent emission policies have forced automakers to improve the fuel efficiency of vehicles, which is likely to influence the product demand. To comply with the government regulations, manufacturers are now focusing on reducing the vehicle weight using lightweight materials, such as stainless steel, plastic, and aluminum. Furthermore, the rising trade tensions between U.S. and China and imposition of anti-dumping tariffs against Chinese imports in May 2018 are likely to provide lucrative growth opportunity to domestic vendors. Owing to the imposition of high tariffs, the overall imports of stainless steel into the country observed a decline of 16% from 2017 to 2018.

Building & construction industry in the region is also likely to provide opportunities for the industry growth. According to the U.S. Census Bureau, the total construction spending (nonresidential and residential) in 2018 increased by 3.7% as compared to the previous year and reached USD 1,293.9 billion. Mexico automotive industry is estimated to be a key driver for the market growth. According to International Organization of Motor Vehicle Manufacturers (OICA), the Mexican automotive production, including passenger cars and commercial vehicles, was 3,565 thousand units in 2014 and it reached 4,100 thousand units in 2018. Due to continuous increase in production of vehicles, the product demand is anticipated to increase over the coming years.

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U.S. And Mexico Stainless Steel Market Report Highlights

• 300 series grade dominated the market and accounted for the largest revenue share of 59.1% in 2024. This growth is attributed to its exceptional corrosion resistance and mechanical properties.

• The duplex series grade is expected to grow at a CAGR of 13.3% over the forecast period, owing to its unique strength and corrosion resistance combination.

• The flat product segment led the market and accounted for the largest revenue share of 70.8% in 2024, driven by the rising demand from the construction and automotive industries.

• The consumer goods applications held the dominant position in the market, with the largest revenue share of 37.9% in 2024.

• The stainless steel market in the U.S. held the dominant position and accounted for the largest revenue share of 75.0% in 2024, driven by significant investments in infrastructure and construction.

• Mexico stainless steel market is expected to grow at a CAGR of 8.5% over the forecast period, owing to rising industrial activities across multiple sectors, including automotive, construction, and manufacturing.

U.S. And Mexico Stainless Steel Market Segmentation

Grand View Research has segmented the U.S. and Mexico stainless steel market report based on grade, product, and application.

U.S. And Mexico Stainless Steel Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• 300 series

• 400 series

• 200 series

• Duplex series

• Others

U.S. And Mexico Stainless Steel Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Flat Products

• Long Products

U.S. And Mexico Stainless Steel Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Consumer Goods

• Mechanical Engineering & Heavy Industries

• Automotive & Transportation

• Building & Construction

• Others

List Of Key Players in the U.S. And Mexico Stainless Steel Market

• ATI

• POSCO

• Outokumpu

• Aperam Stainless

• North American Stainless (NAS)

• Continental Steel & Tube Company

• Universal Stainless

• Plymouth Tube Company USA

• Electralloy

• AK Steel International BV

• ArcelorMittal