- The North America stainless steel round market had a value of USD 1.4 billion approximately and is estimated to grow considerably over the forecast period. This is due to increased requirement in the construction application including load transfer device, bridge pins, tensions, and tie rods of structural members.
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Industry share will rise over the forecast period with the growing requirement of glass beams, door handles, post-tension tie rods, glass façade spiders, and cable anchoring heads. High manufacturing price and increasing nickel cost is estimated to hold back the market in future.
With rising number of duplex and super duplex in Alaska along with increasing construction companies in California is going to boost the growth. New market is expected to open in Alaska with the manufacturing of pulp & paper and production of oil over the forecast period.
The market is bifurcated into products and regions. Different products of round bar are used in stainless steel like Cr-Ni, high nickel alloy and duplex and super duplex. The biggest product sector was Cr-Ni in 2014 and is estimated to account for more than 60% of total volume.
Market size is estimated to rise with the consumption of products like anchor bolts, valve stems, bar & fountain equipment, stone anchors, bolts, shafting, food processing equipment, nozzles, dairy handling equipment, sanitary fittings & valves, reinforcing bar, screens, dowel bar at highway joints, and hardware. Super duplex and duplex stainless steel round bars are estimated to grow significantly at over CAGR 5.5% from 2015 to 2022.
Austenitic stainless steel alloys are high nickel alloys which are designed for high and middle level resistance to corrosion and have low level of carbon, which is estimated for propelling the size of the market over the forecast period.
The market was dominated by the US in 2014 with more than 80% of share in terms of global revenue. The US market is estimated to witness high growth due to the rise in construction, aerospace, oil exploration, and automotives in the future. The key drive to the industry is estimated from the shale gas.
Fastest growth is expected from Mexico with more than 4.8 % CAGR from 2015 to 2022 due to the quick industrialization and governmental support for the development of end-user segment. The market requirement in Canada is estimated to rise due to the development of infrastructure and aerospace segment in the future.
The major industries in the market are ATI Allvac, Valbruna Slater Stainless, Carpenter Technology Corporation, Universal Stainless & Alloy Products, and Crucible Industries LLC, Electralloy.
Information Source: Grand View Research
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