Global stainless steel market size revised to $163.5 million by 2027

Due to the COVID-19 epidemic, the global stainless steel market size was expected to be around US$115 million in 2020, while the figure was revised to US$163.5 million by 2027, with a compound annual growth rate (CAGR) of 5.1% over the period 2020-2027.

The US’ stainless steel market was estimated to be US$31.2 million in 2020, and China was predicted to reach US$33.8 million by 2027 with a CAGR of 7.9%.

In addition, Japan, Canada, and Germany will grow at a CAGR of 2.8%, 4.6%, and 3.2% respectively over the 2020-2027 period.