The North America stainless steel market size was valued at USD 18.26 Billion in 2024. The market is further projected to grow at a CAGR of 3.60% between 2025 and 2034, reaching a value of USD 26.01 Billion by 2034.
The unique edge of stainless steel over substitutes like carbon steel, weathering steel, and others, coupled with its high pliability, corrosion resistance, strength, aesthetic properties, low-cost of maintenance, and average product life cycle, is anticipated to drive the North America stainless steel market growth during the forecast period.
Stainless steel forgings are being used in the production of high-performance components in industrial equipment, automobiles, and aircraft. For instance, aerospace manufacturers are using stainless steel forgings to produce components for jet engines, such as turbine blades, which require high strength.
Stainless steel is being used in renewable energy projects, such as wind turbines and solar panels. For example, stainless steel is used in the construction of wind turbine towers, blades, and nacelles due to its corrosion resistance and durability.
Stainless steel is being used in the construction of nuclear power plants due to its high strength and radiation resistance. For instance, stainless steel is used in the production of reactor vessels, heat exchangers, and fuel rods.
In the construction industry, stainless steel is being used to create customised finishes that meet specific requirements for anti-corrosion, aesthetics, and even antibacterial properties. For example, stainless steel is being used in the construction of high-end buildings, such as the VIA 57 West residential building in New York City, which features a unique stainless-steel facade.
The integration of nanotechnology and materials science is facilitating the North America stainless steel market development as it helps in introduction of new stainless steel variants that boast improved electrical and thermal properties. For instance, researchers are developing stainless steel with nanostructured surfaces that exhibit enhanced wettability, which can be used in heat exchangers and other industrial applications.
The unique edge of stainless steel over substitutes like carbon steel, weathering steel, and others, coupled with its high pliability, corrosion resistance, strength, aesthetic properties, low-cost of maintenance, and average product life cycle, is anticipated to drive the North America stainless steel market growth during the forecast period.
Stainless steel forgings are being used in the production of high-performance components in industrial equipment, automobiles, and aircraft. For instance, aerospace manufacturers are using stainless steel forgings to produce components for jet engines, such as turbine blades, which require high strength.
Stainless steel is being used in renewable energy projects, such as wind turbines and solar panels. For example, stainless steel is used in the construction of wind turbine towers, blades, and nacelles due to its corrosion resistance and durability.
Stainless steel is being used in the construction of nuclear power plants due to its high strength and radiation resistance. For instance, stainless steel is used in the production of reactor vessels, heat exchangers, and fuel rods.
In the construction industry, stainless steel is being used to create customised finishes that meet specific requirements for anti-corrosion, aesthetics, and even antibacterial properties. For example, stainless steel is being used in the construction of high-end buildings, such as the VIA 57 West residential building in New York City, which features a unique stainless-steel facade.
The integration of nanotechnology and materials science is facilitating the North America stainless steel market development as it helps in introduction of new stainless steel variants that boast improved electrical and thermal properties. For instance, researchers are developing stainless steel with nanostructured surfaces that exhibit enhanced wettability, which can be used in heat exchangers and other industrial applications.
Market Segmentation
North America Stainless Steel Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:Market Breakup by Type:
- Cold Flat
- Hot Coils
- Hot Bars/Wire Rod
- Cold Bars/Wire
- Hot Plate and Sheet
- Others
Market Breakup by Application:
- Metal Products
- Mechanical Engineering
- Construction
- Automotive and Transportation
- Electrical Machinery
- Others
Market Breakup by Country:
- United States of America
- Canada
Competitive Landscape
Market players are focused on expanding their production capacity, developing innovative products, and making strategic acquisitions to strengthen their market position.- Nippon Steel Corporation
- Outokumpu Oyj
- POSCO Co., Ltd.
- Universal Stainless & Alloy Products Inc.
- JFE Steel Corporation
- Acerinox S.A.
- ArcelorMittal S.A.
- Mitsui & Co., Ltd.
- Aperam SA
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Stainless Steel Market Overview
6 North America Stainless Steel Market Overview
7 North America Stainless Steel Market by Type
8 North America Stainless Steel Market by Application
9 North America Stainless Steel Market by Country
10 Market Dynamics
12 Trade Data Analysis (HS Code - 7218)
14 Competitive Landscape
Companies Mentioned
- Nippon Steel Corporation
- Outokumpu Oyj
- POSCO Co., Ltd.
- Universal Stainless & Alloy Products Inc.
- JFE Steel Corporation
- Acerinox S.A.
- ArcelorMittal S.A.
- Mitsui & Co., Ltd.
- Aperam SA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 133 |
| Published | May 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 18.26 Billion |
| Forecasted Market Value ( USD | $ 26.01 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | North America |
| No. of Companies Mentioned | 9 |
