Global and India Stainless Steel Market

TABLE OF CONTENTS 1 EXECUTIVE SUMMARY ........ 25 2 MARKET INTRODUCTION ....... 33 2.1 DEFINITION ...... 33 2.2 SCOPE OF THE STUDY ....... 33 2.3 RESEARCH OBJECTIVE ........ 33 3 RESEARCH METHODOLOGY ........ 34 3.1 OVERVIEW ........ 34 3.2 DATA FLOW ...... 36 3.2.1 DATA MINING PROCESS ...... 37 3.3 PURCHASED DATABASE: ........ 38 3.4 SECONDARY SOURCES: ........ 39 3.4.1 SECONDARY RESEARCH DATA FLOW: ....... 40 3.5 PRIMARY RESEARCH: ........ 41 3.5.1 PRIMARY RESEARCH DATA FLOW: ........ 42 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ....... 43 3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ....... 43 3.6.1 CONSUMPTION & NET TRADE APPROACH ....... 43 3.6.2 REVENUE ANALYSIS APPROACH ...... 43 3.7 DATA FORECASTING....... 44 3.7.1 DATA FORECASTING TECHNIQUE ........ 45 3.8 DATA MODELING ........ 46 3.8.1 MICROECONOMIC FACTOR ANALYSIS: ...... 46 3.8.2 DATA MODELING: ....... 47 3.9 TEAMS AND ANALYST CONTRIBUTION ........ 48 4 MARKET DYNAMICS ....... 51 4.1 DRIVERS ....... 51 4.1.1 INCREASED VEHICLE PRODUCTION ESPECIALLY IN EMERGING ECONOMIES ....... 51 4.1.2 INVESTMENT BY STAINLESS STEEL PRODUCERS IN INDIA TO EXPAND CAPACITY ........ 53 4.1.3 GOVERNMENT POLICIES / INCENTIVES FOR CLEANER STAINLESS-STEEL PRODUCTION IN INDIA ....... 54 4.1.4 RISING USE OF STAINLESS STEEL FLAT PRODUCTS IN APPLIANCES & CONSUMER GOODS ....... 55 4.1.5 RAPID GROWTH IN SOLAR, WIND & GREEN HYDROGEN PROJECTS DRIVING DEMAND FOR SS FLAT PRODUCTS . 56 4.1.6 HIGH DEMAND IN OIL & GAS PIPELINES & SEAWATER DESALINATION PLANTS ...... 57 4.1.7 LOCAL MILLS UPGRADING TO MEET SPECIALTY HRAP DEMAND ....... 58 4.1.8 HIGH DEMAND OF CRAP COIL IN MEDICAL EQUIPMENT ........ 58 4.1.9 PUSH FOR SUSTAINABILITY & LONGEVITY DRIVING DEMAND FOR CRAP COIL ........ 59 4.1.10 ADVANCING SS 300 GRADE DEMAND FROM INFRASTRUCTURE & CONSTRUCTION SECTOR ...... 60 4.1.11 INVESTMENT IN REBAR & FABRICATION CAPACITY DRIVING DEMAND FOR SS LONG PRODUCTS MARKET ........ 61 4.1.12 ONGOING SURGE IN WATER SUPPLY EXPANSION AND SEAWATER DESALINATION INFRASTRUCTURE INCREASINGLY PROPELLING DEMAND FOR STAINLESS STEEL (SS) PIPES AND TUBES ....... 62 4.1.13 INCREASING ADOPTION OF 200-SERIES STAINLESS STEEL IN THE AUTOMOTIVE AND FOOD & BEVERAGE SECTORS 63 4.1.14 HIGH DEMAND OF 400 GRADE SS FROM AGRICULTURAL EQUIPMENT AND GAS TURBINES ....... 63 4.2 RESTRAINTS ....... 64 4.2.1 STRINGENT REGULATORY FRAMEWORKS AND ENVIRONMENTAL CONCERN ....... 64 4.2.2 RAW MATERIAL PRICE VOLATILITY ........ 65 4.3 OPPORTUNITY ....... 66 4.3.1 ADOPTION OF IMPROVED PROCESSING TECHNOLOGIES TO REDUCE COST ...... 66 4.3.2 GROWING APPLICATION FOR RENEWABLE ENERGY & CLEAN TECH ........ 67 4.4 IMPACT OF GEOPOLITICAL FACTORS ON STAINLESS STEEL MARKET ...... 68 4.4.1 ANTI-DUMPING & TRADE PROTECTION MEASURES ...... 68 4.4.2 REGULATORY & CERTIFICATION BARRIERS ...... 69 4.4.3 TRADE DIPLOMACY & BILATERAL TRADE AGREEMENTS ....... 70 4.4.4 CARBON BORDER MEASURES & ENVIRONMENTAL MEASURES ....... 70 4.4.5 SHIFTS IN GLOBAL EXPORT PATTERNS / TRADE DIVERSIONS ........ 71 4.4.6 OTHERS ...... 72 5 MARKET FACTOR ANALYSIS ........ 73 5.1 VALUE CHAIN & MANUFACTURERING PROCESS ANALYSIS ........ 73 5.1.1 FOUNDATIONAL METALLURGY AND FEEDSTOCK PREPARATION ....... 73 5.1.1.1 RAW MATERIAL INPUT AND PRIMARY MELTING OPERATIONS ........ 73 5.1.1.1.1 MELTING IN ELECTRIC ARC FURNACE (EAF) ........ 75 5.1.1.1.2 MELTING IN INDUCTION FURNACE (IF) ....... 75 5.1.1.2 REFINING: ACHIEVING STRICT COMPOSITIONAL CONTROL (AOD/VOD) ....... 76 5.1.1.2.1 ARGON OXYGEN DECARBURIZATION (AOD) PARAMETERS ........ 76 5.1.1.2.2 VACUUM OXYGEN DEGASSING (VOD) PARAMETERS ........ 76 5.1.1.3 CONTINUOUS CASTING OPERATIONS (SLAB PRODUCTION) ...... 76 5.1.2 THE HOT ROLLING MILL (HR) PROCESS: GENERATING THE BLACK COIL ....... 77 5.1.2.1 REHEATING FURNACE OPERATIONS ....... 77 5.1.2.2 HOT STRIP MILL (HSM) OPERATIONS AND MECHANICS ........ 78 5.1.2.3 CRITICAL THERMAL CONTROL AND COILING ...... 78 5.1.3 HRAP COIL PRODUCTION: ANNEALING AND DESCALING (NO. 1 FINISH) ........ 79 5.1.3.1 DETAILED ANNEALING PROCESS FOR HR COILS (AP LINE) ....... 79 5.1.3.2 OXIDE REMOVAL AND DESCALING PHASE (PICKLING LINE) ...... 80 5.1.3.3 FINAL HRAP PRODUCT CHARACTERISTICS (NO. 1 FINISH) ........ 81 5.1.4 CRAP COIL PRODUCTION: COLD ROLLING AND INTERMEDIATE TREATMENT ....... 81 5.1.4.1 INPUT MATERIAL AND COLD REDUCTION STRATEGY ....... 82 5.1.4.2 PRECISION COLD ROLLING MILL OPERATIONS (CR) ...... 82 5.1.4.3 ANNEALING ....... 82 5.1.5 FINAL SURFACE FINISHING, TESTING, AND PRODUCT CLASSIFICATION ........ 83 5.1.5.1.1 FINAL POST-ANNEALING TREATMENTS (PICKLING) ...... 83 5.1.5.2 QUALITY TESTING, SLITTING, AND PACKAGING ........ 84 5.1.6 PRODUCT LOSS AT EACH MANUFACTURING STAGE (%)........ 84 5.1.7 FACILITIES & EQUIPMENTS REQUIRED FOR SS SLABS, SS HRAP COIL, SS CRAP COIL, & SS SHEET PRODUCTION 85 5.1.8 APPLICATION AND ECONOMIC DIFFERENTIATION OF HRAP AND CRAP COIL....... 85 5.1.9 LIST OF RAW MATERIALS USED IN THE PRODUCTION OF STAINLESS STEEL CRAP AND HRAP, BY GRADE (200-SERIES, 300-SERIES, 400-SERIES, 500-SERIES AND OTHERS) ........ 86 5.1.9.1 PURITY OF RAW MATERIALS USED IN THE PRODUCTION OF STAINLESS STEEL CRAP AND HRAP, BY GRADE (200 SERIES, 300-SERIES, 400-SERIES, 500-SERIES AND OTHERS) ........ 87 5.1.10 LIST OF RAW MATERIAL SUPPLIERS FOR SS SHEETS / SS HRAP COIL / SS CRAP COIL (COMPANY NAME, HEADQUARTER, CONTACT DETAILS, RAW MATERIAL) ........ 87 5.1.11 KEY MANUFACTURERS OF SS SHEETS / SS HRAP COIL / SS CRAP COIL IN INDIA (COMPANY NAME, HEADQUARTER, CONTACT DETAILS, PRODUCT MANUFACTURED) ...... 91 5.1.12 END-USERS ....... 94 5.1.12.1 CUSTOMER NEEDS & PAIN POINTS ...... 94 5.1.12.2 LIST OF POTENTIAL END-USERS OF SS SHEETS / SS HRAP COIL / SS CRAP COIL (COMPANY NAME, HEADQUARTER, CONTACT DETAILS, APPLICATION) ........ 94 5.1.12.3 LARGE, MEDIUM, AND LOW-QUANTITY PROCUREMENT ANALYSIS ........ 102 5.1.12.4 ANALYSIS OF LOCAL VS IMPORT QUANTITY ....... 102 5.2 ANALYSIS ON SHIFT IN CRAP COIL BUYING PATTERN ...... 103 5.2.1 CRAP COIL DEMAND DRIVERS ....... 103 5.2.1.1 DEMAND FOR PREMIUM GRADE PERFORMANCE & DURABILITY PRODUCTS ....... 103 5.2.1.2 SUSTAINABILITY CONSIDERATIONS ........ 104 5.2.1.3 MAJOR DRIVING FACTORS FOR CRAP COIL IN INDIA & GLOBALLY ........ 104 5.2.2 CRAP COIL COST DRIVERS ...... 105 5.2.2.1 MANUFACTURING & OPERATIONAL EFFICIENCY ........ 105 5.2.2.2 TECHNOLOGY & PROCESS INNOVATION ....... 106 5.2.2.3 MAINTENANCE & ASSET UTILIZATION ....... 106 5.2.2.3.1 MAINTENANCE IMPACT ........ 107 5.2.3 PROCUREMENT EVOLUTION BY END-USERS ....... 107 5.2.3.1 PREFERENCE FOR LOCAL / DOMESTIC SUPPLIERS WITH CRAP CAPACITY ........ 107 5.2.3.2 FLEXIBLE / CUSTOMIZED SIZES & GRADES ....... 108 5.2.3.3 DIVERSIFICATION OF SUPPLIER BASE ........ 109 5.2.3.4 OTHERS ....... 109 5.2.4 IMPACT OF INCREASED CRAP COIL CAPACITY ON SUPPLY CHAIN CONCERNS ....... 109 5.2.4.1 CURRENT SITUATION ........ 109 5.2.4.2 EXPECTED BENEFITS OF CAPACITY EXPANSION ....... 110 5.2.4.3 CURRENT ONGOING PROJECTS FOR SS CRAP COIL ...... 111 5.3 CONVERSION TRENDS: SLAB-TO-CRAP & SCRAP-TO-CRAP ........ 112 5.3.1 HISTORICAL CONVERSION TRENDS FOR SLAB-TO-CRAP (2018-2024) ...... 112 5.3.1.1 YEAR-ON-YEAR CHANGE IN SLAB USAGE VS CRAP OUTPUT ...... 112 5.3.1.2 THE RATIO SLAB-TO-CRAP CONVERSION ...... 112 5.3.1.3 EVOLUTION OF SLAB-TO-CRAP CONVERSION ...... 112 5.3.2 HISTORICAL CONVERSION TRENDS FOR SCRAP-TO-CRAP (2018-2024) ....... 113 5.3.2.1 YEAR-ON-YEAR CHANGE IN SCRAP USAGE VS CRAP OUTPUT (IN TONS) ........ 113 5.3.2.2 THE RATIO SCRAP-TO-CRAP CONVERSION ....... 113 5.3.2.3 EVOLUTION OF SCRAP-TO-CRAP CONVERSION ....... 114 5.3.3 KEY TRENDS ........ 114 5.3.3.1 CHANGES IN DOWNSTREAM DEMAND THAT REQUIRE CRAP ........ 114 5.3.3.2 CAPACITY ADDITIONS OF COLD-ROLL FINISHING/PICKLING/ANNEALING LINES IN INDIA ....... 115 5.3.4 ANALYSIS ON CONVERSION COST FROM SLAB-TO-CRAP ...... 115 5.4 PORTER’S FIVE FORCES MODEL ...... 117 5.4.1 THREAT OF NEW ENTRANTS ...... 117 5.4.2 BARGAINING POWER OF SUPPLIERS ...... 117 5.4.3 THREAT OF SUBSTITUTES ...... 117 5.4.4 BARGAINING POWER OF BUYERS ........ 118 5.4.5 INDUSTRY RIVALRY ....... 118 5.5 PRICING ANALYSIS, 2015 – 2035 (USD/TON) ....... 118 5.6 SUPPLY-DEMAND ANALYSIS, 2015-2035 (MILLION TONS) ....... 119 5.7 TRADE ANALYSIS ...... 120 5.7.1 KEY IMPORTS IN INDIA (MILLION TONS) ...... 120 5.7.2 KEY EXPORTS BY INDIA (MILLION TONS) ........ 122 5.7.3 KEY INSIGHTS FOR SS CRAP AND HRAP TRADE ANALYSIS ....... 122 5.7.4 TOP 10 GLOBAL IMPORTING COUNTRIES AND QUANTITY IMPORTED ...... 124 5.7.5 TOP 10 GLOBAL EXPORTING COUNTRIES AND QUANTITY EXPORTED ...... 124 5.7.6 TOP 10 GLOBAL PRODUCERS OF STAINLESS STEEL ........ 124 5.7.7 CIF IMPORT PRICES FOR TOP GLOBAL IMPORTING COUNTRIES (2020-2024) ....... 125 5.7.8 TAX BARRIERS WITH KEY IMPORTERS IN INDIA ........ 125 5.8 RISK MITIGATION ANALYSIS ........ 126 5.8.1 CURRENT ASSUMPTIONS & PROJECTIONS FOR CRAP ADOPTION ...... 126 5.8.1.1 VOLUME FORECASTS ........ 126 5.8.1.2 UTILIZATION ...... 126 5.8.1.3 LEAD TIMES ....... 126 5.8.1.4 KEY DEMAND DRIVERS ASSUMED ........ 127 5.8.2 IMPLICATIONS OF UNMET MARKET PROJECTIONS ...... 127 5.8.2.1 LOWER DEMAND THAN FORECASTED ........ 127 5.8.2.2 PRICE DEVALUATION, INABILITY TO COVER HIGHER COST OF FINISHING/PROCESSING ...... 127 5.8.2.3 OPPORTUNITY COST OF INVESTMENT IN CRAP EQUIPMENT / TECHNOLOGY ....... 128 5.8.2.4 EXPOSURE TO FIXED COSTS ....... 128 5.8.3 EXTERNAL RISK FACTORS ...... 128 5.8.4 FINANCIAL DE-RISKING STRATEGIES ...... 129 5.8.4.1 ALTERNATIVE SALES CHANNELS (EXPORTS, DISTRIBUTORS, ETC.) ...... 129 5.8.4.2 PRODUCT DIVERSIFICATION ....... 130 5.8.4.2.1 UTILIZATION OF EXISTING CAPACITY TO PRODUCE ALTERNATE FLAT PRODUCTS ...... 130 5.8.4.2.2 LIGHTWEIGHT OR LOWER ALLOY GRADES WHEN PREMIUM FINISH NOT REQUIRED ....... 130 5.8.4.3 MARKET EXPANSION ........ 130 5.8.4.4 COST CONTROL & FLEXIBILITY ...... 130 5.8.4.5 PRODUCT DIVERSIFICATION INTO SPECIALTY / VALUE-ADDED GRADES ...... 130 5.8.4.6 FINANCIAL IMPLICATIONS & ROI UNDER MITIGATION ........ 130 5.8.4.7 MONITORING & GOVERNANCE ....... 131 5.9 PESTEL ANALYSIS ........ 132 5.10 REGULATORY FRAMEWORK ...... 133 5.10.1 GOVERNMENTAL POLICIES, BY REGION ....... 133 5.10.1.1 NORTH AMERICA ........ 133 5.10.1.2 EUROPE ....... 133 5.10.1.3 ASIA PACIFIC ........ 133 5.10.1.4 SOUTH AMERICA ...... 133 5.10.1.5 MIDDLE EAST & AFRICA ........ 134 5.10.2 CROSS-REGIONAL REGULATORY ANALYSIS ........ 134 5.11 R&D UPDATE ....... 135 5.11.1 CURRENT SCENARIO ........ 135 5.11.2 FUTURE ROADMAP ........ 135 5.11.3 NOVEL APPLICATIONS ........ 135 5.11.4 KEY DEVELOPMENTS ........ 136 5.12 KEY STRATEGIES FOR SOURCING COST EFFECTIVE & GOOD QUALITY SS SLABS ....... 136 5.12.1 LIST OF KEY SS SLAB SUPPLIERS, INDIA ...... 136 5.12.2 LIST OF KEY SS SLAB SUPPLIERS, GLOBAL ...... 137 5.12.3 PRICE BENCHMARKING AND COST ELEMENTS ANALYSIS ........ 137 5.12.4 SUPPLY CHAIN OPTIMIZATION ........ 137 5.12.5 CONTRACTUAL SAFEGUARDS ....... 138 5.12.6 PRICE REVISION BASIS ........ 138 5.13 PERFORMANCE CHARACTERISTICS ANALYSIS ........ 139 5.14 TECHNOLOGICAL ADVANCEMENTS ....... 139 5.15 BROAD LEVEL GAP ANALYSIS ...... 140 5.16 REVIEW OF EXISTING PRICING MOUS BETWEEN JINDAL STAINLESS STEEL AND CUSTOMERS (CRAP/HRAP) ...... 142 5.16.1 KEY DISCOUNT RATES UNDER THE MOUS OFFERED BY JINDAL STAINLESS STEEL TO ITS CRAP AND HRAP CUSTOMERS IN INDIA ....... 142 5.16.2 STRATEGIC CUSTOMERS UNDER THESE MOUS (DOMESTIC VS INTERNATIONAL) ...... 142 5.16.3 EFFECT OF MOUS ON PRICING AND AVAILABILITY OF CRAP AND HRAP IN DOMESTIC MARKET ...... 143 5.17 RISKS AND ASSESSMENT OF MARKET PENETRATION OPPORTUNITIES ....... 143 5.17.1 IMPORTANCE OF LONG-TERM SUPPLIER RELATIONSHIPS IN CRAP/HRAP SUPPLY CHAIN ........ 143 5.17.2 RISK PERCEPTION AMONG CUSTOMERS (FEAR OF BLACKLISTING BY EXISTING SUPPLIERS) ....... 143 5.17.2.1 TYPICAL CLAUSES IN SUPPLY AGREEMENTS/MOUS THAT DISCOURAGE SWITCHING ....... 143 5.17.2.2 INFLUENCE OF LARGE PLAYERS (LIKE JINDAL) IN MAINTAINING LOYALTY THROUGH MOUS ........ 143 5.17.2.3 PRICING LOCK-INS AND FINANCIAL PENALTIES IN CASE OF EARLY SWITCHING ...... 144 5.17.3 MARKET PENETRATION STRATEGIES ........ 145 5.17.3.1 NICHE APPLICATION TARGETS ...... 145 5.17.3.2 VALUE DIFFERENTIATION ........ 145 5.17.3.3 RISK-SHARING MECHANISMS ........ 146 5.18 EVALUATION OF CUSTOMER PREFERENCES – JINDAL MOUS VS ALTERNATIVE SUPPLIER CONTRACTS FOR CRAP AND HRAP ...... 147 5.18.1 DRIVERS OF PREFERENCE FOR CONTINUING WITH JINDAL MOUS ........ 147 5.18.1.1 GUARANTEED SUPPLY VOLUMES AMID VOLATILE DEMAND CYCLES ....... 147 5.18.1.2 STABLE OR PREFERENTIAL PRICING THROUGH LONG-TERM COMMITMENTS ....... 147 5.18.1.3 TECHNICAL TRUST AND CONSISTENT QUALITY (CRITICAL FOR AUTOMOTIVE, APPLIANCES, AND CONSTRUCTION) ........ 147 5.18.1.4 REPUTATION RISK MINIMIZATION BY STAYING WITH THE MARKET LEADER ........ 147 5.18.2 FACTORS ENCOURAGING OPENNESS TO ALTERNATIVE SUPPLIERS ........ 147 5.18.2.1 RISING INPUT COSTS AND PRICE HIKES UNDER EXISTING MOUS ....... 147 5.18.2.2 DESIRE FOR SUPPLY DIVERSIFICATION TO REDUCE DEPENDENCY RISK ...... 148 5.18.2.3 OPPORTUNITIES FOR MORE FLEXIBLE DELIVERY SCHEDULES AND CREDIT TERMS ........ 148 5.18.2.4 INTEREST IN SPECIALIZED GRADES, FINISHES, OR FASTER LEAD TIMES THAT JINDAL MAY NOT PRIORITIZE 148 5.18.3 EARLY-STAGE STRATEGIC MOVE BY NEW ENTRANTS ........ 148 5.18.3.1 TARGETING UNDERSERVED SEGMENTS ........ 148 5.18.3.2 STRATEGIC ALLIANCES & PARTNERSHIPS WITH REGIONAL DISTRIBUTORS ...... 149 5.18.3.3 FOCUSING ON EXPORT MARKET ....... 149 5.18.3.4 OTHER STRATEGIES ....... 150 5.19 HMS VS. STECKEL MILL ...... 151 5.19.1 CAPEX, OPEX, AND YIELD ....... 152 6 GLOBAL STAINLESS STEEL MARKET, BY PRODUCT TYPE ........ 154 6.1 INTRODUCTION ........ 154 6.1.1 FLAT PRODUCTS ........ 154 6.1.1.1 HRAP COIL (HOT ROLLED ANNEALED & PICKLED)...... 154 6.1.1.2 CRAP COIL (COLD ROLLED ANNEALED & PICKLED) ....... 154 6.1.2 LONG PRODUCTS ....... 155 6.1.2.1 BARS & RODS ........ 155 6.1.2.2 PIPES & TUBES ...... 155 6.1.2.3 OTHERS ....... 155 7 GLOBAL STAINLESS STEEL MARKET, BY GRADE ........ 159 7.1 INTRODUCTION ........ 159 7.1.1 200-SERIES (201, 202 (JT GRADE), ETC.) ...... 159 7.1.2 300-SERIES (304, 304L, 316, ETC.) ....... 159 7.1.3 400-SERIES ....... 159 7.1.4 500-SERIES ....... 160 7.1.5 OTHERS ...... 160 8 GLOBAL STAINLESS STEEL MARKET, BY FINISH ...... 163 8.1 INTRODUCTION ........ 163 8.1.1 1D ...... 163 8.1.2 2D ...... 163 8.1.3 2B ...... 163 8.1.4 BA ........ 164 8.1.5 NO 3 ........ 164 8.1.6 NO 4 ........ 164 8.1.7 OTHERS ...... 164 9 GLOBAL STAINLESS STEEL MARKET, BY WIDTH ...... 167 9.1 INTRODUCTION ........ 167 9.1.1 650 MM ...... 167 9.1.2 750 MM ...... 167 9.1.3 1,000 MM ....... 167 9.1.4 1,250 MM ....... 168 9.1.5 1,500 MM ....... 168 9.1.6 2,000 MM ....... 168 9.1.7 2,500 MM ....... 169 9.1.8 OTHERS ...... 169 10 GLOBAL STAINLESS STEEL MARKET, BY END USE INDUSTRY ...... 172 10.1 INTRODUCTION ........ 172 10.2 AUTOMOTIVE & TRANSPORT END USE ....... 175 10.2.1.1 EXHAUST SYSTEMS & MUFFLERS ........ 175 10.2.1.2 FUEL TANKS & FUEL LINES ...... 175 10.2.1.3 STRUCTURAL COMPONENTS ...... 175 10.2.1.4 OTHERS ....... 175 10.3 CONSUMER GOODS & APPLIANCES END USE ........ 177 10.3.1.1 UTENSILS & COOKWARE ....... 177 10.3.1.2 APPLIANCES ...... 177 10.3.1.3 OTHERS ....... 177 10.4 BUILDING & CONSTRUCTION END USE...... 178 10.4.1.1 ARCHITECTURAL CLADDING & FACADES ....... 178 10.4.1.2 ROOFING & WALL PANELS ....... 178 10.4.1.3 OTHERS ....... 178 10.5 ENERGY & POWER END USE ........ 179 10.5.1.1 THERMAL POWER PLANTS ...... 179 10.5.1.2 NUCLEAR POWER ........ 179 10.5.1.3 RENEWABLES........ 180 10.5.1.4 OIL & GAS ....... 180 10.6 MEDICAL EQUIPMENT END USE ........ 181 10.6.1.1 SURGICAL INSTRUMENTS ........ 181 10.6.1.2 ORTHOPEDIC IMPLANTS & PROSTHETICS ........ 181 10.6.1.3 MEDICAL DEVICES ...... 181 10.6.1.4 OTHERS ....... 182 10.7 FOOD & BEVERAGES END USE ....... 182 10.7.1.1 FOOD PROCESSING EQUIPMENT ....... 182 10.7.1.2 FOOD STORAGE TANKS ........ 183 10.7.1.3 OTHERS ....... 183 10.8 CHEMICAL INDUSTRY END USE ...... 184 10.8.1.1 PROCESS EQUIPMENT ....... 184 10.8.1.2 STORAGE TANKS & VESSELS ...... 184 10.8.1.3 OTHERS ....... 184 10.9 OTHER END USE ...... 185 10.9.1 OTHER ........ 185 10.9.1.1 WATER & WASTEWATER TREATMENT ........ 185 10.9.1.2 DEFENSE ........ 185 10.9.1.3 PULP & PAPER ...... 185 10.9.1.4 OTHERS ....... 186 11 GLOBAL STAINLESS STEEL MARKET, BY REGION ...... 187 11.1 OVERVIEW ........ 187 11.2 NORTH AMERICA ....... 189 11.3 EUROPE ........ 201 11.4 ASIA PACIFIC ...... 213 11.5 SOUTH AMERICA ....... 225 11.6 MIDDLE EAST & AFRICA ...... 237 12 COMPETITIVE LANDSCAPE ....... 250 12.1 INTRODUCTION ........ 250 12.2 COMPANY MARKET SHARE ANALYSIS, 2024 ....... 251 12.3 COMPETITIVE BENCHMARKING ........ 252 12.4 LIST OF CRAP COIL, HRAP COIL, & SS SHEET MANUFACTURERS (COMPANY NAME, HEADQUARTER, PRODUCTION CAPACITY, GROSS PROFIT MARGIN (%) ...... 253 12.5 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL, 2024 ....... 254 12.6 KEY DEVELOPMENTS & GROWTH STRATEGIES ........ 255 12.6.1 PRODUCT DEVELOPMENT ....... 255 12.6.2 CAPACITY EXPANSION ........ 255 12.6.3 STRATEGIC PARTNERSHIP / AGREEMENT ....... 257 12.6.4 JOINT VENTURE ...... 258 12.6.5 SUSTAINABILITY ........ 259 12.6.6 RE-STRUCTURING / SALE ........ 259 12.6.7 INVESTMENT ....... 260 12.6.8 ACQUISITION ....... 260 13 COMPANY PROFILES ........ 262 13.1 ARCELORMITTAL ....... 262 13.1.1 COMPANY OVERVIEW ....... 262 13.1.2 FINANCIAL OVERVIEW ...... 263 13.1.3 PRODUCTS OFFERED ........ 264 13.1.4 KEY DEVELOPMENTS ........ 265 13.1.5 SWOT ANALYSIS ........ 266 13.1.6 KEY STRATEGY ........ 266 13.2 THYSSENKRUPP AG ........ 268 13.2.1 COMPANY OVERVIEW ....... 268 13.2.2 FINANCIAL OVERVIEW ...... 269 13.2.3 PRODUCTS OFFERED ........ 270 13.2.4 KEY DEVELOPMENTS ........ 271 13.2.5 SWOT ANALYSIS ........ 274 13.2.6 KEY STRATEGY ........ 274 13.3 POSCO ........ 275 13.3.1 COMPANY OVERVIEW ....... 275 13.3.2 FINANCIAL OVERVIEW ...... 276 13.3.3 PRODUCTS OFFERED ........ 276 13.3.4 KEY DEVELOPMENTS ........ 281 13.3.5 SWOT ANALYSIS ........ 282 13.3.6 KEY STRATEGY ........ 283 13.4 ACERINOX S.A. ...... 284 13.4.1 COMPANY OVERVIEW ....... 284 13.4.2 FINANCIAL OVERVIEW ...... 285 13.4.3 PRODUCTS OFFERED ........ 286 13.4.4 KEY DEVELOPMENTS ........ 286 13.4.5 SWOT ANALYSIS ........ 287 13.4.6 KEY STRATEGY ........ 287 13.5 NIPPON STEEL CORPORATION ...... 288 13.5.1 COMPANY OVERVIEW ....... 288 13.5.2 FINANCIAL OVERVIEW ...... 289 13.5.3 PRODUCTS OFFERED ........ 290 13.5.4 KEY DEVELOPMENTS ........ 291 13.5.5 SWOT ANALYSIS ........ 292 13.5.6 KEY STRATEGY ........ 293 13.6 TATA STEEL ........ 294 13.6.1 COMPANY OVERVIEW ....... 294 13.6.2 FINANCIAL OVERVIEW ...... 295 13.6.3 PRODUCTS OFFERED ........ 296 13.6.4 KEY DEVELOPMENTS ........ 296 13.6.5 SWOT ANALYSIS ........ 298 13.6.6 KEY STRATEGY ........ 298 13.7 OUTOKUMPU ...... 299 13.7.1 COMPANY OVERVIEW ....... 299 13.7.2 FINANCIAL OVERVIEW ...... 300 13.7.3 PRODUCTS OFFERED ........ 300 13.7.4 KEY DEVELOPMENTS ........ 303 13.7.5 SWOT ANALYSIS ........ 305 13.7.6 KEY STRATEGY ........ 305 13.8 APERAM ...... 306 13.8.1 COMPANY OVERVIEW ....... 306 13.8.2 FINANCIAL OVERVIEW ...... 307 13.8.3 PRODUCTS OFFERED ........ 308 13.8.4 KEY DEVELOPMENTS ........ 309 13.8.5 SWOT ANALYSIS ........ 310 13.8.6 KEY STRATEGY ........ 310 13.9 JFE STEEL ...... 311 13.9.1 COMPANY OVERVIEW ....... 311 13.9.2 FINANCIAL OVERVIEW ...... 312 13.9.3 PRODUCTS OFFERED ........ 313 13.9.4 KEY DEVELOPMENTS ........ 315 13.9.5 SWOT ANALYSIS ........ 316 13.9.6 KEY STRATEGY ........ 316 13.10 JINDAL STAINLESS GROUP ...... 318 13.10.1 COMPANY OVERVIEW ....... 318 13.10.2 FINANCIAL OVERVIEW ...... 319 13.10.3 PRODUCTS OFFERED ........ 319 13.10.4 KEY DEVELOPMENTS ........ 320 13.10.5 SWOT ANALYSIS ........ 321 13.10.6 KEY STRATEGY ........ 321 13.11 SAIL ...... 323 13.11.1 COMPANY OVERVIEW ....... 323 13.11.2 FINANCIAL OVERVIEW ...... 324 13.11.3 PRODUCTS OFFERED ........ 325 13.11.4 KEY DEVELOPMENTS ........ 326 13.11.5 SWOT ANALYSIS ........ 327 13.11.6 KEY STRATEGY ........ 327 13.12 FORTRAN STEEL ........ 328 13.12.1 COMPANY OVERVIEW ....... 328 13.12.2 FINANCIAL OVERVIEW ...... 329 13.12.3 PRODUCTS OFFERED ........ 329 13.12.4 KEY DEVELOPMENTS ........ 330 13.12.5 SWOT ANALYSIS ........ 331 13.12.6 KEY STRATEGY ........ 331 13.13 RICO STEEL ....... 332 13.13.1 COMPANY OVERVIEW ....... 332 13.13.2 FINANCIAL OVERVIEW ...... 332 13.13.3 PRODUCTS OFFERED ........ 333 13.13.4 KEY DEVELOPMENTS ........ 334 13.13.5 SWOT ANALYSIS ........ 335 13.13.6 KEY STRATEGY ........ 335 13.14 BHANDARI GROUP ........ 337 13.14.1 COMPANY OVERVIEW ....... 337 13.14.2 FINANCIAL OVERVIEW ...... 337 13.14.3 PRODUCTS OFFERED ........ 338 13.14.4 KEY DEVELOPMENTS ........ 339 13.14.5 SWOT ANALYSIS ........ 340 13.14.6 KEY STRATEGY ........ 340 13.15 STELIX STEEL ........ 341 13.15.1 COMPANY OVERVIEW ....... 341 13.15.2 FINANCIAL OVERVIEW ...... 341 13.15.3 PRODUCTS OFFERED ........ 342 13.15.4 KEY DEVELOPMENTS ........ 342 13.15.5 SWOT ANALYSIS ........ 343 13.15.6 KEY STRATEGY ........ 343 13.16 SHREE KHODAL INDUSTRIAL ENGINEERING COMPANY ....... 344 13.16.1 COMPANY OVERVIEW ....... 344 13.16.2 FINANCIAL OVERVIEW ...... 344 13.16.3 PRODUCTS OFFERED ........ 345 13.16.4 KEY DEVELOPMENTS ........ 346 13.16.5 SWOT ANALYSIS ........ 346 13.16.6 KEY STRATEGY ........ 347 14 STRATEGIC RECOMMENDATIONS ....... 349 14.1 PROCUREMENT STRATEGY ........ 349 14.1.1 RAW MATERIAL SOURCING ........ 349 14.1.2 SUPPLIER PARTNERSHIP ........ 349 14.1.3 RISK DIVERSIFICATION ........ 350 14.2 TRADE & MARKET STRATEGY ...... 350 14.2.1 DOMESTIC MARKET POSITIONING ...... 350 14.2.1.1 OPPORTUNITY & GAPS ...... 350 14.2.2 EXPORT EXPANSION ........ 351 14.2.3 TRADE RISKMITIGATION ...... 352 14.3 PRODUCT DIVERSIFICATION STRATEGY ....... 353 14.3.1 PORTFOLIO EXPANSION ...... 353 14.3.1.1 PRODUCT SEGMENT GROWTH AND STRATEGIC INTERPRETATION ........ 354 14.3.1.2 WIDTH TRENDS (GLOBAL CONSUMPTION CAGR) ....... 355 14.3.2 APPLICATION-ORIENTED INNOVATION...... 356 14.4 CAPACITY & OPERATIONAL STRATEGY ........ 357 14.4.1 CAPACITY EXPANSION ROADMAP ...... 357 14.4.2 OPERATIONAL EFFICIENCY ........ 358 14.4.3 SUSTAINABILITY & COMPLIANCE ........ 358 14.5 FINANCIAL & RISK MANAGEMENT STRATEGY ...... 359 14.5.1 DE-RISKING PLAN ....... 359 14.5.2 COST MANAGEMENT ........ 359 14.5.3 INVESTMENT PRIORITIZATION ...... 359 14.6 MARKET-ORIENTED PRODUCT FOCUS ........ 359 14.7 SALES STRATEGY ...... 360 14.8 RECOMMENDED WIDTH ...... 361 14.9 FACILITY & TECHNOLOGY RECOMMENDATION ........ 361 14.10 STRATEGIC POSITIONING SUMMARY ....... 362 14.11 DATA CITATIONS ....... 363

LIST OF TABLES TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 47 TABLE 1 GLOBAL STAINLESS STEEL SUPPLY-DEMAND, 2015 – 2024 119 TABLE 2 GLOBAL STAINLESS STEEL SUPPLY-DEMAND, 2025 – 2035 119 TABLE 3 GLOBAL STAINLESS STEEL MARKET VOLUME, BY TYPE, 2019-2035 (KILOTONS) 156 TABLE 4 GLOBAL STAINLESS STEEL MARKET VALUE, BY TYPE, 2019-2035 (USD MILLION) 156 TABLE 5 GLOBAL STAINLESS STEEL MARKET VOLUME, BY FLAT PRODUCTS, 2019-2035 (KILOTONS) 157 TABLE 6 GLOBAL STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 157 TABLE 7 GLOBAL STAINLESS STEEL MARKET VOLUME, BY LONG PRODUCTS, 2019-2035 (KILOTONS) 158 TABLE 8 GLOBAL STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 158 TABLE 9 GLOBAL STAINLESS STEEL MARKET, VOLUME, BY GRADE, 2019-2035 (KILOTONS) 161 TABLE 10 GLOBAL STAINLESS STEEL MARKET, VALUE, BY GRADE, 2019-2035 (USD MILLION) 162 TABLE 11 GLOBAL STAINLESS STEEL MARKET, VOLUME, BY FINISH, 2019-2035 (KILOTONS) 165 TABLE 12 GLOBAL STAINLESS STEEL MARKET, VALUE, BY FINISH, 2019-2035 (USD MILLION) 166 TABLE 13 GLOBAL STAINLESS STEEL MARKET, VOLUME, BY WIDTH, 2019-2035 (KILOTONS) 169 TABLE 14 GLOBAL STAINLESS STEEL MARKET, VALUE, BY END-USER INDUSTRY, 2019-2035 (USD MILLION) 170 TABLE 15 GLOBAL STAINLESS STEEL MARKET, VOLUME, BY END USE INDUSTRY, 2019-2035 (KILOTONS) 173 TABLE 16 GLOBAL STAINLESS STEEL MARKET, VALUE, BY END USE INDUSTRY, 2019-2035 (USD MILLION) 174 TABLE 17 GLOBAL STAINLESS STEEL MARKET VOLUME, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (KILOTONS) 176 TABLE 18 GLOBAL STAINLESS STEEL MARKET VALUE, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (USD MILLION) 176 TABLE 19 GLOBAL STAINLESS STEEL MARKET VOLUME, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (KILOTONS) 178 TABLE 20 GLOBAL STAINLESS STEEL MARKET VALUE, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (USD MILLION) 178 TABLE 21 GLOBAL STAINLESS STEEL MARKET VOLUME, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (KILOTONS) 179 TABLE 22 GLOBAL STAINLESS STEEL MARKET VALUE, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (USD MILLION) 179 TABLE 23 GLOBAL STAINLESS STEEL MARKET VOLUME, BY ENERGY & POWER END USE, 2019-2035 (KILOTONS) 180 TABLE 24 GLOBAL STAINLESS STEEL MARKET VALUE, BY ENERGY & POWER END USE, 2019-2035 (USD MILLION) 181 TABLE 25 GLOBAL STAINLESS STEEL MARKET VOLUME, BY MEDICAL EQUIPMENT END USE, 2019-2035 (KILOTONS) 182 TABLE 26 GLOBAL STAINLESS STEEL MARKET VALUE, BY MEDICAL EQUIPMENT END USE, 2019-2035 (USD MILLION) 182 TABLE 27 GLOBAL STAINLESS STEEL MARKET VOLUME, BY FOOD & BEVERAGES END USE, 2019-2035 (KILOTONS) 183 TABLE 28 GLOBAL STAINLESS STEEL MARKET VALUE, BY FOOD & BEVERAGES END USE, 2019-2035 (USD MILLION) 183 TABLE 29 GLOBAL STAINLESS STEEL MARKET VOLUME, BY CHEMICAL INDUSTRY END USE, 2019-2035 (KILOTONS) 184 TABLE 30 GLOBAL STAINLESS STEEL MARKET VALUE, BY CHEMICAL INDUSTRY END USE, 2019-2035 (USD MILLION) 185 TABLE 31 GLOBAL STAINLESS STEEL MARKET VOLUME, BY OTHER END USE, 2019-2035 (KILOTONS) 186 TABLE 32 GLOBAL STAINLESS STEEL MARKET VALUE, BY OTHER END USE, 2019-2035 (USD MILLION) 186 TABLE 33 GLOBAL STAINLESS STEEL MARKET VOLUME, BY REGION, 2019-2035 (KILOTONS) 187 TABLE 34 GLOBAL STAINLESS STEEL MARKET VALUE, BY REGION, 2019-2035 (USD MILLION) 188 TABLE 35 NORTH AMERICA: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (VOLUME) 189 TABLE 36 NORTH AMERICA: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (USD MILLION) 189 TABLE 37 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY TYPE, 2019-2035 (KILOTONS) 190 TABLE 38 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY TYPE, 2019-2035 (USD MILLION) 190 TABLE 39 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY FLAT PRODUCTS, 2019-2035 (KILOTONS) 190 TABLE 40 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 190 TABLE 41 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY LONG PRODUCTS, 2019-2035 (KILOTONS) 191 TABLE 42 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 191 TABLE 43 NORTH AMERICA STAINLESS STEEL MARKET, VOLUME, BY GRADE, 2019-2035 (KILOTONS) 191 TABLE 44 NORTH AMERICA STAINLESS STEEL MARKET, VALUE, BY GRADE, 2019-2035 (USD MILLION) 192 TABLE 45 NORTH AMERICA STAINLESS STEEL MARKET, VOLUME, BY FINISH, 2019-2035 (KILOTONS) 192 TABLE 46 NORTH AMERICA STAINLESS STEEL MARKET, VALUE, BY FINISH, 2019-2035 (USD MILLION) 192 TABLE 47 NORTH AMERICA STAINLESS STEEL MARKET, VOLUME, BY WIDTH, 2019-2035 (KILOTONS) 193 TABLE 48 NORTH AMERICA STAINLESS STEEL MARKET, VALUE, BY END-USER INDUSTRY, 2019-2035 (USD MILLION) 193 TABLE 49 NORTH AMERICA STAINLESS STEEL MARKET, VOLUME, BY END USE INDUSTRY, 2019-2035 (KILOTONS) 194 TABLE 50 NORTH AMERICA STAINLESS STEEL MARKET, VALUE, BY END USE INDUSTRY, 2019-2035 (USD MILLION) 194 TABLE 51 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (KILOTONS) 195 TABLE 52 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (USD MILLION) 195 TABLE 53 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (KILOTONS) 195 TABLE 54 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (USD MILLION) 196 TABLE 55 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (KILOTONS) 196 TABLE 56 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (USD MILLION) 196 TABLE 57 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY ENERGY & POWER END USE, 2019-2035 (KILOTONS) 197 TABLE 58 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY ENERGY & POWER END USE, 2019-2035 (USD MILLION) 197 TABLE 59 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY MEDICAL EQUIPMENT END USE, 2019-2035 (KILOTONS) 197 TABLE 60 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY MEDICAL EQUIPMENT END USE, 2019-2035 (USD MILLION) 198 TABLE 61 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY FOOD & BEVERAGES END USE, 2019-2035 (KILOTONS) 198 TABLE 62 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY FOOD & BEVERAGES END USE, 2019-2035 (USD MILLION) 198 TABLE 63 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY CHEMICAL INDUSTRY END USE, 2019-2035 (KILOTONS) 199 TABLE 64 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY CHEMICAL INDUSTRY END USE, 2019-2035 (USD MILLION) 199 TABLE 65 NORTH AMERICA STAINLESS STEEL MARKET VOLUME, BY OTHER END USE, 2019-2035 (KILOTONS) 199 TABLE 66 NORTH AMERICA STAINLESS STEEL MARKET VALUE, BY OTHER END USE, 2019-2035 (USD MILLION) 200 TABLE 67 EUROPE: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (VOLUME) 201 TABLE 68 EUROPE: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (USD MILLION) 201 TABLE 69 EUROPE STAINLESS STEEL MARKET VOLUME, BY TYPE, 2019-2035 (KILOTONS) 202 TABLE 70 EUROPE STAINLESS STEEL MARKET VALUE, BY TYPE, 2019-2035 (USD MILLION) 202 TABLE 71 EUROPE STAINLESS STEEL MARKET VOLUME, BY FLAT PRODUCTS, 2019-2035 (KILOTONS) 202 TABLE 72 EUROPE STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 202 TABLE 73 EUROPE STAINLESS STEEL MARKET VOLUME, BY LONG PRODUCTS, 2019-2035 (KILOTONS) 203 TABLE 74 EUROPE STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 203 TABLE 75 EUROPE STAINLESS STEEL MARKET, VOLUME, BY GRADE, 2019-2035 (KILOTONS) 203 TABLE 76 EUROPE STAINLESS STEEL MARKET, VALUE, BY GRADE, 2019-2035 (USD MILLION) 204 TABLE 77 EUROPE STAINLESS STEEL MARKET, VOLUME, BY FINISH, 2019-2035 (KILOTONS) 204 TABLE 78 EUROPE STAINLESS STEEL MARKET, VALUE, BY FINISH, 2019-2035 (USD MILLION) 204 TABLE 79 EUROPE STAINLESS STEEL MARKET, VOLUME, BY WIDTH, 2019-2035 (KILOTONS) 205 TABLE 80 EUROPE STAINLESS STEEL MARKET, VALUE, BY END-USER INDUSTRY, 2019-2035 (USD MILLION) 205 TABLE 81 EUROPE STAINLESS STEEL MARKET, VOLUME, BY END USE INDUSTRY, 2019-2035 (KILOTONS) 206 TABLE 82 EUROPE STAINLESS STEEL MARKET, VALUE, BY END USE INDUSTRY, 2019-2035 (USD MILLION) 206 TABLE 83 EUROPE STAINLESS STEEL MARKET VOLUME, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (KILOTONS) 207 TABLE 84 EUROPE STAINLESS STEEL MARKET VALUE, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (USD MILLION) 207 TABLE 85 EUROPE STAINLESS STEEL MARKET VOLUME, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (KILOTONS) 207 TABLE 86 EUROPE STAINLESS STEEL MARKET VALUE, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (USD MILLION) 208 TABLE 87 EUROPE STAINLESS STEEL MARKET VOLUME, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (KILOTONS) 208 TABLE 88 EUROPE STAINLESS STEEL MARKET VALUE, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (USD MILLION) 208 TABLE 89 EUROPE STAINLESS STEEL MARKET VOLUME, BY ENERGY & POWER END USE, 2019-2035 (KILOTONS) 209 TABLE 90 EUROPE STAINLESS STEEL MARKET VALUE, BY ENERGY & POWER END USE, 2019-2035 (USD MILLION) 209 TABLE 91 EUROPE STAINLESS STEEL MARKET VOLUME, BY MEDICAL EQUIPMENT END USE, 2019-2035 (KILOTONS) 209 TABLE 92 EUROPE STAINLESS STEEL MARKET VALUE, BY MEDICAL EQUIPMENT END USE, 2019-2035 (USD MILLION) 210 TABLE 93 EUROPE STAINLESS STEEL MARKET VOLUME, BY FOOD & BEVERAGES END USE, 2019-2035 (KILOTONS) 210 TABLE 94 EUROPE STAINLESS STEEL MARKET VALUE, BY FOOD & BEVERAGES END USE, 2019-2035 (USD MILLION) 210 TABLE 95 EUROPE STAINLESS STEEL MARKET VOLUME, BY CHEMICAL INDUSTRY END USE, 2019-2035 (KILOTONS) 211 TABLE 96 EUROPE STAINLESS STEEL MARKET VALUE, BY CHEMICAL INDUSTRY END USE, 2019-2035 (USD MILLION) 211 TABLE 97 EUROPE STAINLESS STEEL MARKET VOLUME, BY OTHER END USE, 2019-2035 (KILOTONS) 211 TABLE 98 EUROPE STAINLESS STEEL MARKET VALUE, BY OTHER END USE, 2019-2035 (USD MILLION) 212 TABLE 99 ASIA PACIFIC: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (VOLUME) 213 TABLE 100 ASIA PACIFIC: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (USD MILLION) 214 TABLE 101 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY TYPE, 2019-2035 (KILOTONS) 214 TABLE 102 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY TYPE, 2019-2035 (USD MILLION) 214 TABLE 103 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY FLAT PRODUCTS, 2019-2035 (KILOTONS) 215 TABLE 104 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 215 TABLE 105 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY LONG PRODUCTS, 2019-2035 (KILOTONS) 215 TABLE 106 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 216 TABLE 107 ASIA PACIFIC STAINLESS STEEL MARKET, VOLUME, BY GRADE, 2019-2035 (KILOTONS) 216 TABLE 108 ASIA PACIFIC STAINLESS STEEL MARKET, VALUE, BY GRADE, 2019-2035 (USD MILLION) 216 TABLE 109 ASIA PACIFIC STAINLESS STEEL MARKET, VOLUME, BY FINISH, 2019-2035 (KILOTONS) 217 TABLE 110 ASIA PACIFIC STAINLESS STEEL MARKET, VALUE, BY FINISH, 2019-2035 (USD MILLION) 217 TABLE 111 ASIA PACIFIC STAINLESS STEEL MARKET, VOLUME, BY WIDTH, 2019-2035 (KILOTONS) 217 TABLE 112 ASIA PACIFIC STAINLESS STEEL MARKET, VALUE, BY END-USER INDUSTRY, 2019-2035 (USD MILLION) 218 TABLE 113 ASIA PACIFIC STAINLESS STEEL MARKET, VOLUME, BY END USE INDUSTRY, 2019-2035 (KILOTONS) 218 TABLE 114 ASIA PACIFIC STAINLESS STEEL MARKET, VALUE, BY END USE INDUSTRY, 2019-2035 (USD MILLION) 219 TABLE 115 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (KILOTONS) 219 TABLE 116 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (USD MILLION) 219 TABLE 117 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (KILOTONS) 220 TABLE 118 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (USD MILLION) 220 TABLE 119 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (KILOTONS) 220 TABLE 120 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (USD MILLION) 221 TABLE 121 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY ENERGY & POWER END USE, 2019-2035 (KILOTONS) 221 TABLE 122 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY ENERGY & POWER END USE, 2019-2035 (USD MILLION) 221 TABLE 123 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY MEDICAL EQUIPMENT END USE, 2019-2035 (KILOTONS) 222 TABLE 124 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY MEDICAL EQUIPMENT END USE, 2019-2035 (USD MILLION) 222 TABLE 125 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY FOOD & BEVERAGES END USE, 2019-2035 (KILOTONS) 222 TABLE 126 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY FOOD & BEVERAGES END USE, 2019-2035 (USD MILLION) 223 TABLE 127 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY CHEMICAL INDUSTRY END USE, 2019-2035 (KILOTONS) 223 TABLE 128 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY CHEMICAL INDUSTRY END USE, 2019-2035 (USD MILLION) 223 TABLE 129 ASIA PACIFIC STAINLESS STEEL MARKET VOLUME, BY OTHER END USE, 2019-2035 (KILOTONS) 224 TABLE 130 ASIA PACIFIC STAINLESS STEEL MARKET VALUE, BY OTHER END USE, 2019-2035 (USD MILLION) 224 TABLE 131 SOUTH AMERICA: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (VOLUME) 225 TABLE 132 SOUTH AMERICA: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (USD MILLION) 225 TABLE 133 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY TYPE, 2019-2035 (KILOTONS) 225 TABLE 134 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY TYPE, 2019-2035 (USD MILLION) 226 TABLE 135 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY FLAT PRODUCTS, 2019-2035 (KILOTONS) 226 TABLE 136 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 226 TABLE 137 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY LONG PRODUCTS, 2019-2035 (KILOTONS) 226 TABLE 138 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) 227 TABLE 139 SOUTH AMERICA STAINLESS STEEL MARKET, VOLUME, BY GRADE, 2019-2035 (KILOTONS) 227 TABLE 140 SOUTH AMERICA STAINLESS STEEL MARKET, VALUE, BY GRADE, 2019-2035 (USD MILLION) 227 TABLE 141 SOUTH AMERICA STAINLESS STEEL MARKET, VOLUME, BY FINISH, 2019-2035 (KILOTONS) 228 TABLE 142 SOUTH AMERICA STAINLESS STEEL MARKET, VALUE, BY FINISH, 2019-2035 (USD MILLION) 228 TABLE 143 SOUTH AMERICA STAINLESS STEEL MARKET, VOLUME, BY WIDTH, 2019-2035 (KILOTONS) 229 TABLE 144 SOUTH AMERICA STAINLESS STEEL MARKET, VALUE, BY END-USER INDUSTRY, 2019-2035 (USD MILLION) 229 TABLE 145 SOUTH AMERICA STAINLESS STEEL MARKET, VOLUME, BY END USE INDUSTRY, 2019-2035 (KILOTONS) 230 TABLE 146 SOUTH AMERICA STAINLESS STEEL MARKET, VALUE, BY END USE INDUSTRY, 2019-2035 (USD MILLION) 230 TABLE 147 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (KILOTONS) 231 TABLE 148 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (USD MILLION) 231 TABLE 149 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (KILOTONS) 232 TABLE 150 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (USD MILLION) 232 TABLE 151 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (KILOTONS) 232 TABLE 152 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (USD MILLION) 233 TABLE 153 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY ENERGY & POWER END USE, 2019-2035 (KILOTONS) 233 TABLE 154 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY ENERGY & POWER END USE, 2019-2035 (USD MILLION) 233 TABLE 155 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY MEDICAL EQUIPMENT END USE, 2019-2035 (KILOTONS) 234 TABLE 156 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY MEDICAL EQUIPMENT END USE, 2019-2035 (USD MILLION) 234 TABLE 157 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY FOOD & BEVERAGES END USE, 2019-2035 (KILOTONS) TABLE 158 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY FOOD & BEVERAGES END USE, 2019-2035 (USD MILLION) TABLE 159 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY CHEMICAL INDUSTRY END USE, 2019-2035 (KILOTONS) TABLE 160 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY CHEMICAL INDUSTRY END USE, 2019-2035 (USD MILLION) TABLE 161 SOUTH AMERICA STAINLESS STEEL MARKET VOLUME, BY OTHER END USE, 2019-2035 (KILOTONS) TABLE 162 SOUTH AMERICA STAINLESS STEEL MARKET VALUE, BY OTHER END USE, 2019-2035 (USD MILLION) TABLE 163 MIDDLE EAST & AFRICA: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (VOLUME) TABLE 164 MIDDLE EAST & AFRICA: STAINLESS STEEL MARKET VOLUME, BY COUNTRY, 2019-2035 (USD MILLION) TABLE 165 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY TYPE, 2019-2035 (KILOTONS) TABLE 166 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY TYPE, 2019-2035 (USD MILLION) TABLE 167 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY FLAT PRODUCTS, 2019-2035 (KILOTONS) TABLE 168 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) TABLE 169 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY LONG PRODUCTS, 2019-2035 (KILOTONS) TABLE 170 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY FLAT PRODUCTS, 2019-2035 (USD MILLION) TABLE 171 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET, VOLUME, BY GRADE, 2019-2035 (KILOTONS) TABLE 172 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET, VALUE, BY GRADE, 2019-2035 (USD MILLION) TABLE 173 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET, VOLUME, BY FINISH, 2019-2035 (KILOTONS) TABLE 174 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET, VALUE, BY FINISH, 2019-2035 (USD MILLION) TABLE 175 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET, VOLUME, BY WIDTH, 2019-2035 (KILOTONS) TABLE 176 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET, VALUE, BY END-USER INDUSTRY, 2019-2035 (USD MILLION) TABLE 177 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET, VOLUME, BY END USE INDUSTRY, 2019-2035 (KILOTONS) TABLE 178 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET, VALUE, BY END USE INDUSTRY, 2019-2035 (USD MILLION) TABLE 179 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (KILOTONS) 243 TABLE 180 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY AUTOMOTIVE & TRANSPORT END USE, 2019-2035 (USD MILLION)243 TABLE 181 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (KILOTONS) TABLE 182 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY CONSUMER GOODS & APPLIANCES END USE, 2019-2035 (USD MILLION) TABLE 183 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (KILOTONS) 244 TABLE 184 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY BUILDING & CONSTRUCTION END USE, 2019-2035 (USD MILLION) 244 TABLE 185 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY ENERGY & POWER END USE, 2019-2035 (KILOTONS) TABLE 186 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY ENERGY & POWER END USE, 2019-2035 (USD MILLION) TABLE 187 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY MEDICAL EQUIPMENT END USE, 2019-2035 (KILOTONS) TABLE 188 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY MEDICAL EQUIPMENT END USE, 2019-2035 (USD MILLION) TABLE 189 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY FOOD & BEVERAGES END USE, 2019-2035 (KILOTONS) TABLE 190 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY FOOD & BEVERAGES END USE, 2019-2035 (USD MILLION) TABLE 191 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY CHEMICAL INDUSTRY END USE, 2019-2035 (KILOTONS) TABLE 192 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY CHEMICAL INDUSTRY END USE, 2019-2035 (USD MILLION) TABLE 193 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VOLUME, BY OTHER END USE, 2019-2035 (KILOTONS) TABLE 194 MIDDLE EAST & AFRICA STAINLESS STEEL MARKET VALUE, BY OTHER END USE, 2019-2035 (USD MILLION) TABLE 195 PRODUCT DEVELOPMENT TABLE 196 CAPACITY EXPANSION TABLE 197 STRATEGIC PARTNERSHIP / AGREEMENT 257 TABLE 198 TECHNOLOGY LEADERSHIP 258 TABLE 199 SUSTAINABILITY 259 TABLE 200 RE-STRUCTURING / SALE 259 TABLE 201 INVESTMENT 260 TABLE 202 ACQUISITION 260 TABLE 203 ARCELORMITTAL: PRODUCTS OFFERED 264 TABLE 204 THYSSENKRUPP AG: PRODUCTS OFFERED 270 TABLE 205 THYSSENKRUPP AG: KEY DEVELOPMENTS 271 TABLE 206 POSCO: PRODUCTS OFFERED 276 TABLE 207 POSCO: KEY DEVELOPMENTS 281 TABLE 208 ACERINOX S.A.: PRODUCTS OFFERED 286 TABLE 209 NIPPON STEEL CORPORATION: PRODUCTS OFFERED 290 TABLE 210 NIPPON STEEL CORPORATION: KEY DEVELOPMENTS 291 TABLE 211 TATA STEEL: PRODUCTS OFFERED 296 TABLE 212 TATA STEEL: KEY DEVELOPMENTS 296 TABLE 213 OUTOKUMPU: PRODUCTS OFFERED 300 TABLE 214 OUTOKUMPU: KEY DEVELOPMENTS 303 TABLE 215 APERAM: PRODUCTS OFFERED 308 TABLE 216 APERAM: KEY DEVELOPMENTS 309 TABLE 217 JFE STEEL: PRODUCTS OFFERED 313 TABLE 218 JINDAL STAINLESS GROUP: PRODUCTS OFFERED 319 TABLE 219 JINDAL STAINLESS GROUP: KEY DEVELOPMENTS 320 TABLE 220 SAIL: PRODUCTS OFFERED 325 TABLE 221 SAIL: KEY DEVELOPMENTS 326 TABLE 222 FORTRAN STEEL: PRODUCTS OFFERED 329 TABLE 223 RICO STEEL: PRODUCTS OFFERED 333 TABLE 224 BHANDARI GROUP: PRODUCTS OFFERED 338 TABLE 225 STELIX STEEL: PRODUCTS OFFERED 342 TABLE 226 SHREE KHODAL INDUSTRIAL ENGINEERING COMPANY: PRODUCTS OFFERED 345 LIST OF FIGURES FIGURE 1 GLOBAL & INDIA STAINLESS STEEL MARKET (BY REGION), 2024 28 FIGURE 2 GLOBAL & INDIA STAINLESS STEEL MARKET SNAPSHOT, 2024 29 FIGURE 3 NUMBER OF AUTOMOBILES PRODUCED IN INDIA, FY 17-FY 24 (IN MILLION) 52 FIGURE 4 GLOBAL SALE OF ELECTRIC CARS, 2020-2024 (MILLION UNITS) 52 FIGURE 5 NUMBER OF EVS REGISTERED IN INDIA, 2018-2023 (IN MILLION) 53 FIGURE 6 RENEWABLE POWER CAPACITY, BY REGION, IN 2024 56 FIGURE 7 INDIA MEDICAL DEVICES SECTOR, 2024 & 2030 (IN USD BILLION) 59 FIGURE 8 GLOBAL CONSTRUCTION MARKET, 2024 & 2030 (IN USD TRILLION) 61 FIGURE 9 SLAB-TO-CRAP CONVERSION SHARE TREND, 2018 - 2024 112 FIGURE 10 SCRAP-TO-CRAP CONVERSION SHARE TREND, 2018 - 2024 113 FIGURE 11 SLAB-TO-CRAP CONVERSION COST SHARE, GLOBAL & INDIA 115 FIGURE 12 PORTER’S FIVE FORCES ANALYSIS OF THE GLOBAL & INDIA STAINLESS STEEL MARKET 117 FIGURE 13 GLOBAL STAINLESS STEEL PRICE, 2015 – 2035 (USD/TON) 118 FIGURE 14 STAINLESS STEEL IMPORT IN INDIA (MILLION TONS) 120 FIGURE 15 CATEGORY-WISE IMPORT SHARE, 2024 120 FIGURE 16 GRADE-WISE STAINLESS STEEL IMPORT, 2024 (MILLION TONS) 121 FIGURE 17 COUNTRY-WISE STAINLESS STEEL IMPORT, 2024 (MILLION TONS) 121 FIGURE 18 STAINLESS STEEL EXPORT FROM INDIA (MILLION TONS) 122 FIGURE 19 CATEGORY-WISE EXPORT SHARE, 2024 122 FIGURE 20 GLOBAL STAINLESS STEEL MARKET, BY TYPES, 2024 (VOLUME % SHARE) 156 FIGURE 21 GLOBAL STAINLESS STEEL MARKET, BY TYPES, 2024 (VALUE % SHARE) 157 FIGURE 22 GLOBAL STAINLESS STEEL MARKET VOLUME, BY GRADE, 2024 (% SHARE) 161 FIGURE 23 GLOBAL STAINLESS STEEL MARKET VALUE, BY GRADE, 2024 (% SHARE) 162 FIGURE 24 GLOBAL STAINLESS STEEL MARKET VOLUME, BY FINISH, 2024 (% SHARE) 165 FIGURE 25 GLOBAL STAINLESS STEEL MARKET VALUE, BY FINISH, 2024 (% SHARE) 166 FIGURE 26 GLOBAL STAINLESS STEEL MARKET VOLUME, BY WIDTH, 2024 (% SHARE) 170 FIGURE 27 GLOBAL STAINLESS STEEL MARKET VALUE, BY WIDTH, 2024 (% SHARE) 171 FIGURE 28 GLOBAL STAINLESS STEEL MARKET VOLUME, BY END USE INDUSTRY, 2024 (% SHARE) 173 FIGURE 29 GLOBAL STAINLESS STEEL MARKET VALUE, BY END USE INDUSTRY, 2024 (% SHARE) 174 FIGURE 30 GLOBAL STAINLESS STEEL MARKET VOLUME, BY REGION, 2024 (% SHARE) 187 FIGURE 31 GLOBAL STAINLESS STEEL MARKET, BY REGION, 2024 (% SHARE) 188 FIGURE 32 GLOBAL STAINLESS STEEL MARKET SHARE ANALYSIS, 2024 (%) 251 FIGURE 33 BENCHMARKING OF MAJOR COMPETITORS 252 FIGURE 34 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL, 2024 254 FIGURE 35 ARCELORMITTAL: FINANCIAL OVERVIEW SNAPSHOT 263 FIGURE 36 ARCELORMITTAL.: SWOT ANALYSIS 266 FIGURE 37 THYSSENKRUPP AG: FINANCIAL OVERVIEW SNAPSHOT 269 FIGURE 38 THYSSENKRUPP AG: SWOT ANALYSIS 274 FIGURE 39 POSCO: SWOT ANALYSIS 282 FIGURE 40 ACERINOX S.A.: FINANCIAL OVERVIEW SNAPSHOT 285 FIGURE 41 ACERINOX S.A.: SWOT ANALYSIS 287 FIGURE 42 NIPPON STEEL CORPORATION: SWOT ANALYSIS 292 FIGURE 43 TATA STEEL: SWOT ANALYSIS 298 FIGURE 44 OUTOKUMPU: SWOT ANALYSIS 305 FIGURE 45 APERAM: FINANCIAL OVERVIEW SNAPSHOT 307 FIGURE 46 APERAM: SWOT ANALYSIS 310 FIGURE 47 JFE STEEL: SWOT ANALYSIS 316 FIGURE 48 JINDAL STAINLESS GROUP: SWOT ANALYSIS 321 FIGURE 49 SAIL: SWOT ANALYSIS 327 FIGURE 50 FORTRAN STEEL: SWOT ANALYSIS 331 FIGURE 51 RICO STEEL: SWOT ANALYSIS 335 FIGURE 52 BHANDARI GROUP: SWOT ANALYSIS 340 FIGURE 53 STELIX STEEL: SWOT ANALYSIS 343 FIGURE 54 SHREE KHODAL INDUSTRIAL ENGINEERING COMPANY: SWOT ANALYSIS 346