Due to its incredible usability across a wide range of industries, the global stainless steel market will continue to grow steadily over the next few years. One of the major changes in the steel industry has been the movement towards greater sustainability, which is occurring in the form of using scrap steel in order to reduce carbon emissions. According to analysts at Technavio, the market is poised to grow at a CAGR of over 5% by 2021. APAC will continue to drive the market, accounting for over 75% of the market share, as will several major vendors, several of which are located in the APAC countries.
In this blog, we identify the key and prominent vendors in the market.
Key vendors
Acerinox
ACERINOX is known worldwide as the one of the most competitive groups in the stainless steel manufacturing. From its constitution, it has carried out a continuous program of investments, with development of its own technological innovations that, in some cases, have constituted a true landmark in the technology of stainless steel. In production capacity, ACERINOX is the first world producer, with a melting output of 3.5 million Mt.
AK Steel
Headquartered in Ohio, AK Steel is a leading producer of flat-rolled carbon and carbon and stainless tubular products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. The company operates eight steel plants, two coke plants and two tube manufacturing plants across six states (Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia) and one tube plant in Mexico.
Aperam
Aperam is a global player in stainless steel with 2.5mt of flat stainless steel capacity in Europe and Brazil. The Company is also a leading producer of high value-added specialty products, including electrical steel and nickel alloys. Its production capacity is concentrated in six production facilities located in Brazil, Belgium and France. Aperam is unique by its capability to produce stainless and specialties from low cost Biomass/Charcoal. Aperam benefits also from a highly integrated network (16 service centers), 8 transformation facilities (welded tubes, precision strip, flat bars) and 19 sales offices.
Outokumpu
Outokumpu is a global leader in stainless steel with cold-rolling capacity of 2.4 million tonnes. Its production facilities cover all continents and are located in China, Finland, Germany, Mexico, Sweden, the UK and USA, with a global sales and service center network close to its customers. In 2015, Outokumpu sales were 6,384 million euro and stainless steel deliveries 2,381,000 tonnes. Outokumpu employs more than 11,000 professionals in more than 30 countries, with headquarters in Espoo, Finland.
POSCO
POSCO (formerly Pohang Iron and Steel Company) is a multinational steel-making company headquartered in Pohang, South Korea. It had an output of 39.1 million tonnes of crude steel in 2011, making it the world’s fourth-largest steelmaker. POSCO currently operates two integrated steel mills in South Korea, in Pohang and Gwangyang. In addition, POSCO operates a joint venture with U.S. Steel, USS-POSCO, which is located in California.
Other prominent vendors
Guangxi Chengde Group
Guangxi Chengde Group is a joint venture jointly invested in and established by Guangxi Beibu Gulf International Port Group and Foshan Chengde Stainless Steel Co., Ltd. Based on rich resources of manganese ore in Guangxi and highly concentrated nickel ore from the Philippines and Indonesia, the enterprise uses the latest process technology of alloy smelting to produce nickel alloy, which is further processed into slab base material of nickel-chromium alloy for forging rolling into final products—various types of stainless steel plates and strips.
JFE Steel
JFE Steel is one of the world’s leading integrated steel producers. A strong international player with a sophisticated production system consisting of two major steelworks, one each in eastern and western Japan, JFE Steel engages in the production and sales of unique “Only One” and market-leading “Number One” branded products, plus a wide range of other added value products incorporating the company’s cutting edge technologies and development know-how.
Nippon Steel and Sumitomo Metal
Nippon Steel & Sumitomo Metal Corporation was formed in 2012 with the merger of Nippon Steel and Sumitomo Metal. Nippon Steel & Sumitomo Metal Corporation is the world’s 3rd largest steel producer by volume as of 2015. Nippon Steel Trading Co., Ltd. has set up a joint venture with 3 Indonesian local companies to produce 120,000 tons of sheet steel for the automotive industry.
Shanghai Baosteel Group
Shanghai Baosteel Group Corporation is a state-owned iron and steel company headquartered in the Baosteel Tower in Pudong, Shanghai, China. Baosteel is the fourth-largest steel producer in the world measured by crude steel output (after ArcelorMittal), with an annual output of around 40 million tons.
Tata Steel Europe
Tata Steel is one of the world’s most geographically diversified steel producers, with operations in 26 countries and commercial offices in over 35 countries. In Europe, it is one of the largest steel producers. Tata Steel serves many demanding markets worldwide, including Aerospace, Automotive, Construction, Consumer Products, Defence & Security, Energy & Power, Lifting & Excavating and Packaging.
Tsinghan Holding Group
Founded in 1992, Tsingshan Holding Group is quickly becoming a multinational corporation. Tsingshan Holding Group owns more than 30 companies, including Tsingtuo Industrial Group, Ruipu Technology Group, and Guangdong J-eray Technology Group. In 2015, Tsingshan Holding Group produced 5.38 million tons of crude stainless steel with sales revenue of 87.5 billion RMB. The Group has more than 20,000 employees.
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