Stainless Steel 400 Series Market Report and Forecast 2025-2034

The global stainless steel 400 series market attained a value of nearly USD 32.60 Billion in 2024. The market is projected to grow at a CAGR of 7.20% between 2025 and 2034 to reach a value of around USD 65.34 Billion by 2034.

Key Trends in the Market

Stainless steel 400 series refers to a group of stainless steel products which contain 11-27% chromium, 1% carbon, and around 2.5% nickel. This stainless steel group is susceptible to rust, gets hardened with heat, and offers high resistance to wear.

• Heightening application of stainless steel 400 series in medical equipment and instruments, owing to its high strength and toughness, is driving the market.
• Rapid infrastructure development activities across developed and developing economies are generating the demand for stainless steel 400 series in architectural cladding, handrails, drainage systems, and roofing systems, among others.
• With increasing nickel price fluctuations due to socioeconomic factors and economic slowdown, steel manufacturers are developing nickel-free stainless steel 400 series using molybdenum and chromium to enhance its performance and price stability as compared to 304 and 316 stainless steel variants.

Market Segmentation

The report titled “Stainless Steel 400 Series Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Application

• Building and Construction
• Automotive and Transportation
• Consumer Goods
• Mechanical Engineering and Heavy Industries
• Medical
• Aerospace
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Share by Application

In the stainless steel 400 series market, consumer goods are likely to witness a heightened growth in the forecast period. Stainless steel 400 series is extensively used for manufacturing different consumer goods, such as home components, kitchen appliances, utensils, cutting tools, fridges, and washing machines, among others. Hence, the rising demand for these consumer goods, owing to the increasing disposable income, rapid urbanisation, and thriving e-commerce sector, is boosting the segment’s growth.

Market Share by Region

The Asia Pacific accounts for a significant share of the market for stainless steel 400 series. The growing expansion of the manufacturing sector, coupled with heightened growth of end-use sectors such as construction, is driving the demand for stainless steel 400 series in the region.

Additionally, growing efforts by companies to ramp up the production of stainless steel 400 series across emerging economies such as China and Vietnam are further fuelling the stainless steel 400 series market growth.

Competitive Landscape

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global stainless steel 400 series market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

Acerinox S.A.

Acerinox S.A. is a global manufacturer and distributor of stainless steel and high-performance alloys. It was founded in 1970 and is headquartered in Madrid, Spain.

Baosteel Group Corporation

Baosteel Group Corporation is a leading company that manufactures stainless steel and premium steel products with high technology integration. The company was founded in 1978 and is headquartered in Shanghai, China.

Fushun Special Steel Co., Ltd.

Fushun Special Steel Co., Ltd. is a company which provides steel products, such as tool steel, mould steel, and special steel, among others. It was established in 1937 and is headquartered in Liaoning, China.

Other market players include Jindal Stainless Ltd., Outokumpu Oyj, POSCO, Tata Steel Ltd., Yieh Corp., Nippon Steel Corp., and ThyssenKrupp AG, among others.