Growing adoption for Chromium & Nickel and increased demand for stainless Steel is majorly driving the global market for 304 Stainless Steel

NEW YORK, March 16, 2018 --

The 304 stainless steel or A2 stainless steel or 18/10 or 18/8 stainless steel is most commonly used type of steel. The numbers 18/10 and 18/8 represents quantity of Chromium and Nickel in steel. It’s chemical composition contains 18% of Chromium, 8% of Nickel and 0.08% of Carbon. 304 is an austenitic steel. It is having excellent toughness, softness, ductility, spinning, forming and drawing properties. It possesses excellent corrosion resistance and heat resistance properties. It is non-magnetic in annealed condition but becomes magnetic in cold workings. In it’s annealed condition it is having minimum tensile strength of 75,000 PSI and yield strength of 30,000 PSI and elongation of 40% in 2 inches. 

Depending on product type, 304 stainless steel is divided into several categories i.e. 304, 304L and 304H. 304L contains low carbon than 304. It has improved weldability and therefore it is best suited for heavy gauge components. 304H contains high carbon than 304. It can be used at higher temperatures. 304 stainless steel is used in various type of home and industrial applications. It is used in production of food processing equipment. It is also suitable for dairy equipment like milking machines, containers and sterilisers. It is used in various home equipment like refrigerators, stoves saucepans, sinks, steam tables etc. It also finds its applications in aerospace Structures, pressure containing applications, architectural structures, sanitary or cryogenic application and chemical industry processing equipment. 

Geographically, Global 304 Stainless Steel Market is divided into regions like North America, Europe, China, Japan, Southeast Asia, India, Africa and Latin America. Due to advancements in technology North America and Europe will be leading market for 304 stainless steel in upcoming years. The rapid urbanization in developing countries such as India and china, it is estimated that 304 stainless steel market will show remarkable growth in developing regions during forecast period.

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304 Stainless Steel Market: By Product Type

• 304
• 304L

304 Stainless Steel Market: End Users/ Applications

• Aerospace Structures
• Food and Beverage Industry
• Pressure Containing Application
• Architectural Structures
• Sanitary or Cryogenic Application
• Chemical Industry Processing Equipment 

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304 Stainless Steel Market: Companies Covered

• thyssenkrupp
• Arcelor
• POSCO
• YUSCO
• Acerinox
• Nippon Steel Corp.
• Fortune Hold Group
• AK Steel
• E. Jordan Brookes Company
• Knight Precision Wire
• NKS
• United Performance Metals (UPM) (O’Neal)
• Sandmeyer Steel
• Rolled Metal Products
• O’Neal Steel
• Penn Stainless 

304 Stainless Steel Market report delivers comprehensive analysis of:

• Market Forecast for 2018-26
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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