India Stainless Steel Market By Grade (200 Series, 300 Series, 400 Series, Duplex Series and Others), By Product (Flat, Long), By Application (Consumer Goods, Building and Construction, Automotive and Transportation, Heavy Industry), By Region, By Competition Forecast & Opportunities, 2018-2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Infrastructure | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Stainless Steel Market By Grade (200 Series, 300 Series, 400 Series, Duplex Series and Others), By Product (Flat, Long), By Application (Consumer Goods, Building and Construction, Automotive and Transportation, Heavy Industry), By Region, By Competition Forecast & Opportunities, 2018-2028F
| Forecast Period | 2023-2028 |
| Market Size (2022) | USD 5.54 Billion |
| CAGR (2023-2028) | 8.38% |
| Market Size (2028) | USD 9.20 Billion |
| Fastest Growing Segment | Automotive and Transportation |
| Largest Market | North India |
USD 5.54 Billion in 2022
Government Initiatives in the Infrastructure and Construction Sector
Current Scenario of Stainless Steel in India
Stainless steel imports are currently increasing in India. The 300 series is where the bulk of stainless-steel imports come from, and most of them come from Chinese company factories in Indonesia. After the Indian government-imposed import charges on Chinese enterprises, they began to travel through ASEAN nations that are part of the Free Trade Agreement (FTA), such as Indonesia, Malaysia, and Vietnam. Due to their free trade agreements with Indonesia, China, Japan, and Korea would have extra capacity that they aim to dump on India. The Indonesian stainless steel landing price is between USD 100 and USD 200, which is less expensive than the Indian price.
Due to Chinese companies expanding their capacity in Indonesia, the import of stainless steel from Indonesia into India increased by almost nine times, from 8,000 tonnes in 2024-2032–18 to 67,000 tonnes in 2018–19 (on an annualised basis). In fact, from January to September 2018, Indonesian stainless HRC exports reached a total of 877,990 tonnes, up 171% over the 324,108 tonnes exported during the same period in 2024-2032. In 2022, after the Union budget, one of the industry body named as FICCI, requested to union government to decline the basic custom duty on ferronickel to zero and impose a higher duty around 12.5% on the import of stainless steel flat products.
Recent Developments in India’s Stainless-steel industry
Recently, demand is growing sharply by some of the end-users of the Stainless-Steel industry. Some of them are mentioned below
Railways
Station Infra
Coaches
Additionally, By FY20, all new passenger coaches must employ SS, according to railroad regulations. Additionally, it aims to increase the number of coaches it ordered, from 2,500 in FY18 to 5,000 yearly in FY20.
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Housing
Kitchenware
Auto
Market Segmentation
Market Players
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018– 2024-2032 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2024-2028 |
| Report Coverage | Revenue forecast, company share, growth factors, and trends |
| Segments Covered | Grade Product Application |
| Regional scope | North Region, South Region, West Region, and East Region |
| Key companies profiled | Jindal Stainless Ltd, Jindal Stainless (Hisar) Ltd, Viraj Group Ltd, Shah Alloys Ltd, Shyam Ferro Alloys Ltd, Steel Authority of India Limited, Panchmahal Steel Ltd, Adhunik Metaliks Limited, Ambica Steel Ltd, BRG Group, Ferro Alloys Corporation Limited, Tata Steel Limited, Visa Steel Limited, and Laxcon Steels Limited. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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