Stainless Steel Strips Market Size

Stainless Steel Strips Market size is projected to surpass USD 227 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of stainless steel strips was USD 113 Billion. The growth of the market is augmented by new megatrends such as urbanization, rising mobility, population density, climate change and economic development. After an estimated 2.5 billion people in 1950, the world's population increased to 8.0 billion in mid-November 2022, with an additional 1 billion since 2010 and 2 billion since 1998.

In addition to these, factors believed to fuel the stainless steel strips market growth are the rising demand for product introduction in consumer products. Stainless steel is utilized in all angles of design, development, and building. Credited to the way better erosion resistance, most building plan and auxiliary building firms lean toward more exceedingly alloyed molybdenum-containing stainless steels for more destructive areas.