According to the report titled ‘Global Stainless-Steel Market (2021 Edition) - Analysis by Product Type (Flat, Long), Grade - Series (200, 300, 400, Others), End User, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global stainless-steel market was valued at USD 105.67 billion in the year 2020 and is expected to exhibit substantial growth during the period 2021-2026.
 

Rise in energy consumption, surge in vehicle production, and acceleration of construction activities, especially in developing countries are propelling the growth of global stainless-steel market.
 

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Furthermore, technological advancements for sustainable manufacturing of steel by top players, and stringent environmental protection laws enacted by governments are likely to accelerate industry development in the coming years.
 

During the covid-19 pandemic, various sectors including manufacturing, building, construction, automotive and heavy industries were affected with global economic slowdown, which severely disrupted the steel industry's supply chain. The outbreak caused a sharp decline in economic activity leading to a reduction in steel consumption, thereby negatively impacting the production and distribution graph of the industry. 
 

Based on product type, the flat segment of worldwide stainless-steel industry held a major volume share in 2020 and is predicted to grow remarkably during the forecast period, due to properties such as concentricity, straightness, and greater tolerance, which make stainless-steel suitable for end-use verticals such as construction, automotive, and so on. 
 

Moving on to grade, the market is classified into 400 series, 300 series, 200 series, and others. While various end-users include heavy industry, consumer products, construction, automotive industry, and others.
 

From a regional standpoint, the market study spans across North America, Latin America, Europe, and Asia pacific. Among these, Asia Pacific is projected to lead the market forecast throughout the projected timeframe. 
 

The competitive landscape of global stainless-steel market is defined by companies such as Nippon Steel Corporation, TATA Steel Limited, Acerinox S.A., JFE Steel, POSCO, Aperam S.A., Jindal Stainless Steel Limited, Outokumpu Oyj, ArcelorMittal S.A., and Baoshan Iron & Steel Co. Ltd. among others.