High Temperature Ferritic Stainless Steel Market, Global Outlook and Forecast 2024-2030
The global High Temperature Ferritic Stainless Steel market size was valued at US$ 2.34 billion in 2024 and is projected to reach US$ 3.12 billion by 2030, at a CAGR of 4.9% during the forecast period 2024-2030.
The United States High Temperature Ferritic Stainless Steel market size was valued at US$ 567.8 million in 2024 and is projected to reach US$ 734.5 million by 2030, at a CAGR of 4.4% during the forecast period 2024-2030.
High Temperature Ferritic Stainless Steel is a magnetic stainless steel grade engineered for high-temperature environments, characterized by high chromium content and good oxidation resistance.
The global High Temperature Ferritic Stainless Steel market is experiencing steady growth, driven by automotive and industrial applications. In 2023, total production reached 1.2 million tons, with automotive exhaust systems accounting for 45% of demand. The industrial furnace segment is growing at 5.5% annually. The market saw a 15% increase in demand for advanced grades in 2023. Type 430 dominates with a 60% market share, while specialized grades are growing at 6% annually. Asia Pacific leads with a 45% market share, while China is the fastest-growing region at 6.2% CAGR. The industry is focusing on developing cost-effective high-performance grades, with a 20% growth in R&D investments.
Report Overview
High Temperature Ferritic Stainless Steel refers to a subclass of high temperature stainless steel that belongs to the ferritic family of stainless steels, which have a ferritic microstructure at room temperature.
This report provides a deep insight into the global High Temperature Ferritic Stainless Steel market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global High Temperature Ferritic Stainless Steel Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the High Temperature Ferritic Stainless Steel market in any manner.
Global High Temperature Ferritic Stainless Steel Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Outokumpu
Sandvik Materials
Nippon Yakin Kogyo
Nippon Steel
VDM Metals
Bao Steel
Market Segmentation (by Type)
Steel Plate
Steel Tube
Other
Market Segmentation (by Application)
Cement
Chemical
Furnace Technology
Other
Geographic Segmentation
