Automotive Stainless Steel Market Report 2026

The automotive stainless steel market size has grown steadily in recent years. It will grow from $131.52 billion in 2025 to $137.2 billion in 2026 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to automotive durability requirements, exhaust system demand, adoption of stainless steel tubing, vehicle safety regulations, mass vehicle production.

The automotive stainless steel market size is expected to see strong growth in the next few years. It will grow to $169.24 billion in 2030 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to electric vehicle platform growth, lightweight material adoption, recycling-driven material selection, emission reduction needs, advanced forming technologies. Major trends in the forecast period include increased use in exhaust and structural components, demand for corrosion-resistant materials, lightweight vehicle construction focus, expansion in ev platforms, growth of high-strength tubing.

The growing adoption of electric vehicles is expected to drive the expansion of the automotive stainless-steel market going forward. Electric vehicles are automobiles powered by electric motors that draw energy from externally charged batteries. As the automotive industry continues to evolve with advancements in electric and autonomous vehicle technologies, there is increasing demand for durable and reliable materials such as stainless steel, which offers corrosion resistance, high strength, and design flexibility. For example, in 2024, according to the International Energy Agency, a Paris-based intergovernmental organization, global electric car sales rose to 17 million units in 2024, up from nearly 14 million in 2023. This growth contributed to the expansion of the global electric vehicle fleet from 40 million in 2023 to almost 58 million by the end of 2024. Therefore, the increasing adoption of electric vehicles is driving the growth of the automotive stainless-steel market.

Major companies in the automotive stainless-steel market are increasingly adopting strategic partnerships to enhance material innovation, expand production capabilities, and meet rising demand for lightweight and corrosion-resistant automotive components. Strategic collaborations support market growth by enabling technology sharing, improving supply-chain efficiency, and accelerating the adoption of high-performance and sustainable materials in vehicle manufacturing. For instance, in March 2024, Jindal Stainless Limited, an India-based stainless-steel producer, partnered with Jay Bharat Maruti Ltd., an India-based automotive component manufacturer, to supply specialized stainless steel for the fabrication of more than 500 energy-efficient electric buses. The supplied material is a high-strength, corrosion-resistant grade designed to reduce vehicle weight while improving durability and service life. This collaboration supports the scaling of sustainable public transportation solutions in India by enhancing energy efficiency and reducing maintenance costs for electric bus fleets.

In August 2023, Klöckner & Co. SE, a Germany-based steel and metal products company, acquired National Material of Mexico for an undisclosed amount. Through this acquisition, Klöckner aims to expand its presence in Mexico and strengthen its position in key automotive and industrial markets. National Material of Mexico is a Mexico-based steel manufacturer serving the automotive industry.

Major companies operating in the automotive stainless steel market report include ArcelorMittal SA, Pohang Iron and Steel Co. Ltd., Nippon Steel Corporation, Tsinghan Holding Group, Baosteel Group, ThyssenKrupp AG, Nucor Corporation, JFE Steel Corporation, Cleveland-Cliffs Inc., Salzgitter AG, Outokumpu Oyj, Sandvik AB, Acerinox SA, Jindal Stainless Limited, Sanyo Special Steel Co. Ltd., Yieh Corporation, Aperam SA, British Steel Ltd, Tubacex S.A., Acciai Speciali Terni S.p.A., Centravis, Ta Chen International Inc., Plymouth Tube Company, Venus Wire Industries Pvt. Ltd., Handytube Corporation, The Fischer Group, Stanch Stainless Steel Co. Ltd.

North America was the largest region in the automotive stainless-steel market in 2025. The regions covered in the automotive stainless steel market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive stainless steel market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The automotive stainless-steel market consists of sales of exhaust systems, body panels, trims, and engine components. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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