STAINLESS STEEL SHEET AND STRIP MARKET ANALYSIS
Stainless steel sheet and strips find its major application in automotive Industry. It is used in the manufacturing of automotive parts, prone to dynamic stress. Globally, rising automotive industry will definitely propel demand of stainless steel sheet and strip market. For instance, according to India Brand Equity Foundation, the Indian automotive industry was valued at US$ 93 billion in 2016, is expected to grow to US$ 251.4-282.8 billion by 2026, with a CAGR of 14.25%.
Stainless steel sheets are suitable for manufacturing the parts of boiler, construction purposes, and production of bent profiles due to good moldability property. The other major driver for growth of the stainless steel sheet and strip market is ever-growing construction industry. According to World Bank’s report 2016, the global infrastructure investment needs is expected to reach US$ 97 trillion by 2040, which will definitely boost demand for stainless steel strip and sheet in the global market.
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