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What Is Stainless Steel?

Stainless Steel is made up of several components that combine to form a strong alloy. Chromium, nitrogen, and molybdenum are all present in this alloy. The product is also environmentally friendly, corrosion resistant, long-lasting, neutral alloy, strong, and infinitely recyclable. Steel's properties make it an excellent choice for a variety of industries, including automotive, construction, and electronics. Product demand is being fueled by the rapidly expanding automotive industry. Furthermore, the product's corrosion resistance, combined with rising manufacturing for recyclable materials, will aid in propelling market growth during the forecast timeframe.

The stainless-steel market&#;s consumption will be fueled by the automotive industry's rapid growth. This metal is ideal for corrosion resistance, high strength, and heat resistance. This makes it an excellent choice for a variety of automotive parts, such as seatbelt springs and hose clamps. Stainless steel, according to the World Steel Organization, will be used in suspension, chassis, fuel tanks, bodywork, and catalytic converters in the future. Furthermore, rising technological advancements in the automotive industry, as well as rising innovation in electric vehicles, will aid in product adoption. As a result, rising product demand from automobile manufacturers will fuel the growth of the stainless-steel market.

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Top 10 Stainless Steel Companies in the World

1. Acerinox

ACERINOX is widely recognised as one of the most competitive groups in stainless steel manufacturing. It has carried out a continuous investment programme since its inception, with the development of its own technological innovations that, in some cases, have constituted a true landmark in stainless steel technology. With a melting output of 3.5 million Mt, ACERINOX is the world's first producer in terms of capacity.

2. Aperam

Aperam is a global stainless-steel player, with 2.5 million tonnes of flat stainless steel capacity in Europe and Brazil. In addition, the company is a leading manufacturer of high-value-added specialty products such as electrical steel and nickel alloys. Its manufacturing capacity is concentrated in six facilities located in Brazil, Belgium, and France. Aperam is distinguished by its ability to manufacture stainless steel and specialties from low-cost Biomass/Charcoal. Aperam also has a well-connected network of 16 service centres, 8 transformation facilities (welded tubes, precision strip, flat bars), and 19 sales offices.

3. Outokumpu

Outokumpu is a global stainless-steel leader, with a cold-rolling capacity of 2.4 million tonnes. Its manufacturing facilities span all continents and are located in China, Finland, Germany, Mexico, Sweden, the United Kingdom, and the United States, with a global sales and service centre network located close to its customers. Outokumpu's sales in totaled 6,384 million euros, with stainless steel deliveries totaling 2,381,000 tonnes. Outokumpu employs over 11,000 people in over 30 countries, with headquarters in Espoo, Finland.

4. Tata Steel

Tata Steel is an Indian brand that operates under the Tata Group. According to industry experts, this company is one of the most dependable brands. Its global presence gives the brand an advantage over competitors. Furthermore, the company is well-known for its cutting-edge innovations, which have completely transformed the stainless-steel manufacturers' market.

5. Guangxi Chengde Group

Guangxi Chengde Group is a joint venture between Guangxi Beibu Gulf International Port Group and Foshan Chengde Stainless Steel Co., Ltd. Based on abundant manganese ore resources in Guangxi and highly concentrated nickel ore from the Philippines and Indonesia, the enterprise employs the most advanced alloy smelting process technology to produce nickel alloy, which is then processed into slab base material of nickel-chromium alloy for forging and rolling into final products&#;various types of stainless steel plates and strips.

6. POSCO

POSCO collaborates with its clients to develop the most sustainable solutions. Its primary value is the creation of user-friendly products. Beyond economic profit, the brand committed to participating in addressing social issues. This is the first action of its kind by any of the leading stainless steel manufacturers.

7. Tsinghan Holding Group

Tsingshan Holding Group, founded in , is quickly becoming a multinational corporation. Tsingshan Holding Group is the parent company of over 30 businesses, including Tsingtuo Industrial Group, Ruipu Technology Group, and Guangdong J-eray Technology Group. Tsingshan Holding Group produced 5.38 million tonnes of crude stainless steel in , earning 87.5 billion RMB in sales. The Group employs over 20,000 people.

8. Nippon Steel and Sumitomo Metal

The merger of Nippon Steel and Sumitomo Metal Corporation resulted in the formation of Nippon Steel & Sumitomo Metal Corporation in . As of , Nippon Steel & Sumitomo Metal Corporation was the world's third largest steel producer by volume. Nippon Steel Trading Co., Ltd. has formed a partnership with three Indonesian local firms to produce 120,000 tonnes of sheet steel for the automotive industry.

9. AK Steel

AK Steel, with headquarters in Ohio, is a leading manufacturer of flat-rolled carbon and carbon and stainless tubular products, primarily for the automotive, infrastructure and manufacturing, construction, and electrical power generation and distribution markets. In six states (Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia), the company operates eight steel plants, two coke plants, and two tube manufacturing plants, as well as one tube plant in Mexico.

10. Shanghai Baosteel Group

Shanghai Baosteel Group Corporation is a state-owned iron and steel company headquartered in Shanghai's Pudong district. With an annual output of around 40 million tonnes, Baosteel is the world's fourth-largest steel producer in terms of crude steel output (after ArcelorMittal).

Global sales for stainless steel exported from all countries totaled US$5.26 billion in .

That dollar amount results from a 177.6% acceleration compared to five years earlier in when stainless steel exports were worth $1.9 billion.

From to , the value of globally exported stainless steel slipped by -20.1% starting from $6.58 billion.

The 5 biggest exporters of stainless steel in are Indonesia, United Kingdom, Sweden, Italy and Germany. That powerful cohort generated 82.2% of exported stainless steel by value.

Among continents, exporters in Asia sold the highest dollar worth of exported stainless steel during with shipments valued at $3.1 billion or almost three-fifths (58.1%) of world exports for that commodity. In second place were European exporters via a 38.7% share.

Smaller percentages came from providers in North America (2.9%), Latin America (0.13%) excluding Mexico but including the Caribbean, Africa (0.08%), then Oceania (0.02%) mostly Australia.

For research purposes, the 4-digit Harmonized Tariff System code prefix is for stainless steel in primary forms including ingots.

Stainless Steel Exporters by Country

Below are the 15 countries that exported the highest dollar value worth of stainless steel during .

1. Indonesia: US$2.8 billion (54.1% of total stainless steel exports)
2. United Kingdom: $783.9 million (14.9%)
3. Sweden: $335.4 million (6.4%)
4. Italy: $188.8 million (3.6%)
5. Germany: $167.2 million (3.2%)
6. Austria: $128 million (2.4%)
7. Spain: $124.9 million (2.4%)
8. Belgium: $114.7 million (2.2%)
9. United States: $86.4 million (1.6%)
10. South Korea: $74.3 million (1.4%)
11. France: $70.4 million (1.3%)
12. Canada: $68.2 million (1.3%)

13. Taiwan: $53.8 million (1%)
14. India: $37.1 million (0.7%)
15. Netherlands: $28.7 million (0.5%)

By value, the listed 15 countries shipped 97.1% of global stainless steel exported in .

Among the top exporters, the fastest-growing stainless steel exporters from to were: Austria (up 33.9%), Canada (up 26.9%), Belgium (up 24.6%) and Sweden (up 15.9%).

Those countries that posted declines in their sales of exported stainless steel were led by: South Korea (down -45.5% from ), India (down -35.3%), Indonesia (down -29.9%), Taiwan (down -23.8%) and Germany (down -15%).

Searchable List of Stainless Steel Exporting Countries in

As listed below, the 80 suppliers of stainless steel exporting to worldwide markets generated all international sales in .

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RankExporterStainless Steel Exports-31.Indonesia$2,848,999,000-29.9%2.United Kingdom$783,866,000-3.4%3.Sweden$335,376,000+15.9%4.Italy$188,770,000-8.3%5.Germany$167,160,000-15%6.Austria$127,998,000+33.9%7.Spain$124,858,000+4.6%8.Belgium$114,728,000+24.6%9.United States$86,439,000-14.4%10.South Korea$74,332,000-45.5%11.France$70,395,000+11.5%12.Canada$68,182,000+26.9%13.Taiwan$53,772,000-23.8%14.India$37,117,000-35.3%15.Netherlands$28,660,000-6.7%16.Finland$16,705,000+50.4%17.Denmark$16,373,000-10.3%18.Portugal$13,788,000+27.8%19.Czech Republic$11,844,000+10.2%20.Japan$11,652,000-28.8%21.Slovenia$10,967,000+34.2%22.Vietnam$9,076,000+54%23.United Arab Emirates$8,208,000-48.2%24.Australia$6,523,000-37%25.Poland$5,480,000-50.4%26.Hungary$4,510,000-4.3%27.Slovakia$3,865,000+21.6%28.Singapore$3,824,000-48.6%29.Russia$3,224,000-27%30.Türkiye$2,863,000-2.9%31.South Africa$2,705,000+55%32.Azerbaijan$2,679,000-8.7%33.Serbia$2,140,000+18.3%34.Kazakhstan$1,451,000+215.4%35.mainland China$1,277,000+55.2%36.Switzerland$1,275,000-20.1%37.Latvia$1,190,000-8.7%38.Croatia$1,142,000-26.4%39.Malaysia$1,102,000+128.6%40.Luxembourg$1,090,000+%41.Norway$926,000-85.3%42.Brazil$901,000-96.8%43.Ukraine$836,000-67.5%44.Thailand$739,000+35.6%45.Zambia$501,000-45.5%46.Nigeria$421,000-48%47.Algeria$363,000+%48.Estonia$310,000+44.9%49.Ireland$305,000+54%50.US Minor Outlying Is$303,%

51.Mexico$253,000+96.1%52.Philippines$237,000+%53.Hong Kong$177,000-62.4%54.Romania$164,000-66.1%55.Greece$120,000-8.4%56.New Zealand$84,000+250%57.Tanzania$70,%58.Egypt$68,000+7.9%59.Uganda$67,000-29.5%60.Iran$64,000-40.2%61.Lebanon$31,000+121.4%62.Sri Lanka$24,000+%63.Lithuania$23,000-92.7%64.Honduras$20,%65.Jordan$18,%66.Bahamas$13,%67.Colombia$13,%68.Pakistan$11,000-52.2%69.Panama$10,%70.Costa Rica$10,%71.Ecuador$8,%72.Tunisia$7,000-78.8%73.Bosnia/Herzegovina$6,000-14.3%74.Bulgaria$5,000-28.6%75.Bahrain$1,000-97.4%76.Israel$1,000-98.7%77.Iceland$1,%78.Guatemala$1,%79.Malta$1,%80.Eswatini$1,%
You can change the presentation order by clicking the triangle icon at the top of the columns. An entry of 0% in the right-most column means that data was unavailable.

The fastest-growing exporters of stainless steel are the Philippines (up 2,863% from ), Sri Lanka (up 2,300%), Algeria (up 1,550%), Luxembourg (up 1,297%) then New Zealand (up 250%).

You can change the presentation order by clicking the triangle icon at the top of the columns. An entry of 0% in the right-most column means that data was unavailable.

Main Exporters of Stainless Steel Ranked by Shipment Weight

In , the overall volume for worldwide shipments of stainless steel totaled 2.096 million tons. That physical tonnage is 183.8% higher than 5 years earlier in but falling to a -14.5% drop compared to 2.451 million tons one year earlier in .

The following 15 countries were responsible for 97.9% of the total shipment weight for stainless steel.

1. Indonesia: 1,474,705 tons of exported stainless steel (down -19.3% from )

2. United Kingdom: 237,945 tons (up 14%)
3. Sweden: 66,389 tons (up 23.2%)
4. Germany: 42,715 tons (down -25.7%)
5. Italy: 38,158 tons (up 2.9%)
6. South Korea: 33,764 tons (down -52.4%)
7. Netherlands: 28,143 tons (up 81.1%)
8. Belgium: 24,244 tons (up 6%)
9. Austria: 20,019 tons (up 28.3%)
10. Canada: 18,351 tons (up 52.5%)
11. France: 16,640 tons (up 18.5%)
12. Spain: 15,803 tons (down -20.3%)
13. India: 12,193 tons (down -33.1%)
14. United States of America: 11,395 tons (down -20.2%)
15. Taiwan: 11,367 tons (down -10.7%)

Posting double-digit growth in quantities of stainless steel exported from to were suppliers in the Netherlands (up 81%), Canada (up 52.5%), Austria (up 28.3%), France (up 18.5%) and the United Kingdom (up 14%).

Average Unit Prices for Top Stainless Steel Exporters

For , the worldwide average unit price for exported stainless steel was $2,511 per ton.

The global average price in is -2.2% lower than the $2,567 unit price for . Year over year, the dollar rate for stainless steel exports fell by -6.5% compared to $2,686 per ton in .

The following list itemizes the average unit prices for stainless steel exported by the top 15 international suppliers of stainless steel sorted by total shipment value.

Also shown is the change in average unit prices per exporting country from to .

1. Indonesia: US$1,932 per ton of stainless steel (down -13.1% from )

2. United Kingdom: $3,294 per ton (down -15.3%)
3. Sweden: $5,052 per ton (down -5.9%)
4. Italy: $4,947 per ton (down -10.9%)

5. Germany: $3,913 per ton (up 14.4%)
6. Austria: $6,394 per ton (up 4.4%)
7. Spain: $7,901 per ton (up 31.2%)
8. Belgium: $4,732 per ton (up 17.6%)
9. United States of America: $7,586 per ton (up 7.4%)
10. South Korea: $2,202 per ton (up 14.5%)
11. France: $4,230 per ton (down -5.9%)
12. Canada: $3,715 per ton (down -16.8%)
13. Taiwan: $4,731 per ton (down -14.7%)
14. India: $3,044 per ton (down -3.3%)
15. Netherlands: $1,018 per ton (down -48.5%)

Charging higher average unit prices were Spain (up 31.2% from ), Belgium (up 17.6%), South Korea (up 14.5%) and Germany (up 14.4%).

The highest average prices were charged by stainless steel exporters in the Spain, United States of America, Austria and Sweden.

Countries Generating Biggest Surpluses Trading Stainless Steel

The following countries posted the highest positive net exports for stainless steel during . Investopedia defines net exports as the value of a country&#;s total exports minus the value of its total imports. Thus, the statistics below present the surplus between the value of each country&#;s exported stainless steel and its import purchases for that same commodity.

1. Indonesia: $2.8 billion (down -30.2% from )
2. United Kingdom: $741.9 million (down -2.9%)
3. Italy: $98.5 million (reversing a -$55.9 million deficit)
4. Spain: $78 million (up 124.9%)
5. Canada: $44.7 million (up 45.4%)
6. South Korea: $26.7 million (down -59.8%)
7. Austria: $20.3 million (down -41.1%)
8. Denmark: $12.2 million (down -6.6%)
9. Netherlands: $11 million (up 264.1%)
10. Slovenia: $9.7 million (up 39.4%)
11. Australia: $5.9 million (down -38.3%)
12. United Arab Emirates: $5.7 million (down -57.8%)
13. Japan: $4.8 million (down -40.2%)
14. Germany: $4.7 million (down -90.9%)
15. Finland: $3.6 million (reversing a -$3.3 million deficit)

World-leading supplier Indonesia earned the highest surplus in the international trade of stainless steel. In turn, this positive cashflow confirms Indonesia&#;s strong competitive advantage for this specific product category.

Countries Posting Worst Deficits Trading Stainless Steel

The following countries posted the highest negative net exports for stainless steel during . Investopedia defines net exports as the value of a country&#;s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of each country&#;s imported stainless steel purchases and its exports for that same commodity.

1. India: -US$1.4 billion (up 126.6% from )
2. mainland China: -$1.2 billion (down -65%)
3. Taiwan: -$366.2 million (down -17.1%)
4. Belgium: -$342.7 million (reversing a $7.7 million surplus)
5. United States of America: -$216 million (down -1.7%)
6. France: -$132.5 million (down -64%)
7. Ukraine: -$50.3 million (up 122.9%)
8. Portugal: -$48.9 million (down -43.5%)
9. Sweden: -$35.8 million (down -86.2%)
10. Vietnam: -$20.4 million (down -34.8%)
11. Romania: -$16.9 million (up 417.5%)
12. Poland: -$16.8 million (up 61.1%)
13. Switzerland: -$8.9 million (down -24.9%)
14. Argentina: -$8.1 million (up 16.9%)
15. Tunisia: -$7.9 million (up 38.1%)

Highly populated India incurred the highest deficit in the international trade of stainless steel. In turn, this negative cashflow highlights India&#;s strong competitive disadvantage for this specific product category but also signals opportunities for stainless steel-supplying countries to help satisfy the powerful demand.

Stainless Steel Exporting Companies

Below are global stainless steel-processing conglomerates that represent established players engaged in the international trade of stainless steel. Each home country is shown within parenthesis.

• Acerinox, SA (Spain)
• British Steel Limited (United Kingdom)
• China Steel (Taiwan)
• Gruppo Riva (Italy)
• Nucor Corporation (United States)
• SSAB AB (Sweden)
• Tata Steel Limited (India)
• ThyssenKrupp AG (Germany)
• Vallourec (France)
• Voestalpine (Austria)

 

See also Iron Ore Exports by Country, Copper Ore Exports bv Country, Top Nickel Exporters by Country, Top Cork Exporting Countries, Plastic Item Exports by Country and Top Aluminum Exporters by Country

Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Exports &#; Commodities. Accessed on July 31,

Forbes Global rankings, The World&#;s Biggest Public Companies. Accessed on July 31,

International Trade Centre, Trade Map. Accessed on July 31,

Investopedia, Net Exports Definition. Accessed on July 31,

Wikipedia, List of steel producers. Accessed on July 31,

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