North America Stainless Steel Round Bar Market Analysis, Size and Trends to 2022

Posted on Updated on

The North America stainless steel round bars market is expected to reach USD 2.09 billion by 2022, according to a new report by Grand View Research, Inc. Growing need for the product in oil & gas, construction, automotive, aerospace and mining is expected have a positive impact on the sector over the next seven years.

Rising need in oil & gas sector on account of their corrosion resistant properties is expected to increase penetration over the next seven years. In addition, increasing consumption in construction sector along with emergence of new players in the region will stimulate industry expansion over the forecast period.

Technology advancements in terms of hydraulic fracturing has resulted in increased offshore oil exploration in New Mexico, Alaska and on the Atlantic coast in the U.S., thus propelling product demand. However, high manufacturing cost along with rising nickel prices is expected to challenge growth over the next seven years.

In U.S., Texas dominated the stainless steel round bars sector in 2014 and is expected to gain share in light of increasing oil & gas production in the state. High need from transportation, construction, mining and manufacturing sectors is expected to have a positive impact on growth over the next seven years.

U.S. stainless steel round Bar market volume, by product, 2012-2022, (Kilo Tons)

north-america-stainless-steel-round-bar-market

View summary of “North America Stainless Steel Round Bar Market Analysis Report” @http://www.grandviewresearch.com/industry-analysis/north-america-stainless-steel-round-bar-market

Further key findings from the report suggest:

  • North America demand was 308.8 kilo tons in 2014 and is expected to grow at a CAGR of 5.3% from 2015 to 2022.
  • High nickel alloys is expected to witness significant growth with CAGR of 5.4% from 2015 to 2022 on account of increasing use in construction sector on account of superior properties including corrosion resistance, heat resistance and strength. Increasing need in chemical & petrochemical processing, heat exchanger & piping systems and nuclear power plant will propel demand over the forecast period.
  • Mexico was the second largest market in 2014 and accounted for over 10% of the global volume. It expected to witness considerable growth owing to tremendous rise in the automotive sector in light of increasing production of cars and light trucks.
  • The industry is dominated by major companies including Crucible Industries LLC, ATI Allvac, Outokumpu, Carpenter Technology Corporation, Electralloy, Universal Stainless & Alloy Products and Valbruna Slater Stainless.
  • ATI Allvac offers various products having excellent corrosion and heat resistance and caters to various segments including oil & gas, aerospace and defense, chemical processing industry, electrical energy, automotive, medical, construction, and mining.

Request for free sample of “North America Stainless Steel Round Bar Market Analysis Report” @ http://www.grandviewresearch.com/industry-analysis/north-america-stainless-steel-round-bar-market/request

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s