From 20 10 to 20 19, the global stainless steel output increased from 3 1094000 tons to 522 18000 tons, with a compound annual growth rate of 5.93%, and the supply increase mainly came from China. Many major changes have taken place in the global economic situation in 2020. The global epidemic has caused many uncertainties, resulting in weak global economic growth and a decline in stainless steel production. In 2020, the global stainless steel production totaled 50.89 million tons, down 2.5% year-on-year. In 2022, the global crude stainless steel output was 55.255 million tons, down 5.2% year-on-year.
Global stainless steel production is concentrated in Asia.
In 2022, the output of major stainless steel producing areas in the world declined, and China remained the largest stainless steel producer in the world. European stainless steel production was 6.294 million tons, down12.4% year-on-year; American output was 2001.7 million tons, down1.4% year-on-year; China's stainless steel output was 310.975 million tons, down 2.0% year-on-year, accounting for 57.9% of the global output; The output of stainless steel in Asia (excluding China and South Korea) was 74 1. 1 10,000 tons, down 4.9% year-on-year; Other countries (Brazil, Russia, South Africa, South Korea and Indonesia) produced 7.557 million tons of stainless steel, down 9. 1% year-on-year.
Global stainless steel products are mainly used in metal products and mechanical engineering.
June 5438 +2022 10, World Stainless Steel Association announced the global stainless steel consumption forecast during the World Stainless Steel Congress. The global consumption forecast is finally determined to be 0.6% in 2022 and 3.2% in 2023, and the social demand is generally stable. In 2020, the global consumption of stainless steel is mainly distributed in the fields of metal products and mechanical engineering, accounting for 37.7% and 28.7% respectively.
Note: The statistical time of data is 2020.
The global consumption of stainless steel is expected to increase further.
With the gradual decline of the global epidemic, the social demand has ushered in further recovery, and the economic construction of various countries has begun to accelerate, and the demand for stainless steel products is expected to increase. Overall, global stainless steel consumption tends to be stable. Thanks to the application of new high-end stainless steel varieties and the further improvement of energy-saving production technology, global stainless steel consumption is expected to maintain steady growth in the future.
For more research and analysis of this industry, please refer to the Analysis Report on Development Prospect Forecast and Investment Strategic Planning of China Stainless Steel Industry by Forward-looking Industry Research Institute.