The global Stainless Steel Foil Market size is expected to reach USD 6.3 Billion in 2022 and USD 10.4 Billion in 2032. It is likely to exhibit growth at a CAGR of 6.2% in the forecast period from 2022 to 2032.
The rising need to enhance the dimensional stability that often prevents contamination of steel tool parts during heat treatment is expected to drive the sales of stainless steel foil in future years.
| Report Attribute | Details |
|---|---|
| Stainless Steel Foil Market Estimated Base Year Value (2021) | USD 5.9 Billion |
| Stainless Steel Foil Market Expected Market Value (2022) | USD 6.3 Billion |
| Stainless Steel Foil Market Anticipated Forecast Value (2032) | USD 10.4 Billion |
| Stainless Steel Foil Market Projected Growth Rate (2022 to 2032) | 6.2% CAGR |
Stainless steel is referred to as a type of corrosion-resistant alloy of nickel, aluminum, iron, and other metals. As it is highly recyclable, it is commonly known as the green material.
Stainless steel foils are known for their inert and environmentally neutral nature. Their longevity helps to meet the needs of sustainable construction. These also do not leach compounds that can change their composition when they come in contact with various elements, such as water.
Some of the additional applications of stainless steel foils include X-ray imaging, shielding for high vacuum processes, turbine engines, and heating elements. The surging demand for corrosion resistant metal packaging in several industries worldwide is expected to augur well for the stainless steel foil market size.
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The increasing demand for tough yet lightweight metal packaging solutions worldwide is likely to propel the stainless steel foil market growth in future years. These foils are nowadays converted into alloys for their extensive usage in the pharmaceutical, food, and dairy industries.
Companies can easily trim, press, or perforate these foils as per their requirements to deliver a better fit for numerous applications. These can also be mixed with additives, such as nickel and chromium to increase their durability, as well as strength.
The ability of these foils to withstand high temperature, as compared to aluminum foils is another significant factor that is estimated to fuel the growth. These also have Ultra-High Vacuum (UHV) compatibility and are thus gaining traction in the global market.
The high prices of raw materials are anticipated to surge the cost of production in the evaluation period. Trade wars and declining production in manufacturing industries owing to the COVID-19 pandemic that occurred in December 2019 may also hinder the demand for stainless steel foils in the upcoming years.
However, the market is set to gradually get back to normalcy with increasing investments by government bodies in research and development activities.
Principal Consultant
North America is anticipated to remain at the forefront in the forthcoming years by procuring the largest stainless steel foil market share. The ever-increasing usage of these foils in the aerospace and automotive industries in the USA and Canada is set to drive the regional market.
As per the USA Department of Transportation, in 2019, around 10,893 vehicles were produced in the country, while nearly 13,677 vehicles were sold the same year. These numbers are projected to grow at a steady pace in future years, thereby propelling the North America market.
The ongoing technological development and the emergence of state-of-the-art technologies, such as flame cutting, water jets, and laser are projected to augment the Asia Pacific stainless steel foil market growth in the assessment period. The entry of cutting-edge machinery for sheet metal manufacturing in India and China is another vital factor that is estimated to augur well for the regional market.
The rapid industrialization and modernization of existing machinery in various end-use industries is also set to spur the growth in Asia Pacific. In addition to that, the rising focus of key players on the expansion of their production capacities to enhance the quality of their products is projected to accelerate the growth.
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Some of the leading companies present in the global stainless steel foil market include AK Steel Corporation, ArcelorMittal, Nisshin Steel Co., Ltd., Tata Steel Limited, Ulbrich Stainless Steels & Special Metals, Inc., Reliance Foundry Co. Ltd., Jindal Stainless Ltd., A.J. Oster, LLC, Hollinbrow Precision Products (UK) Ltd., and All Foils, Inc. among others.
The global market is highly competitive with the presence of various large-scale companies. Majority of these companies are aiming to strengthen their positions in this market by engaging in mergers, acquisitions, joint ventures, and collaborations. Meanwhile, multiple local and unorganized players are anticipated to enter the market in the near future. They are set to launch new products to cater to the surging consumer demand across the globe.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Grade Type, Product Type, Material Type, Application, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | AK Steel Corporation; ArcelorMittal, Nisshin Steel Co., Ltd.; Tata Steel Limited; Ulbrich Stainless Steels & Special Metals, Inc.; Reliance Foundry Co. Ltd.; Jindal Stainless Ltd.; A.J. Oster, LLC; Hollinbrow Precision Products (UK) Ltd.; All Foils, Inc. |
| Customization | Available Upon Request |
The global stainless steel foil market is expected to surpass USD 10.4 Billion in 2032.
North America is likely to dominate the stainless steel foil market in the forecast period.
AK Steel Corporation, ArcelorMittal, Nisshin Steel Co., Ltd., Tata Steel Limited, Ulbrich Stainless Steels & Special Metals, Inc., and Reliance Foundry Co. Ltd. are some of the prominent companies in the stainless steel foil market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032 5. Global Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Thickness 5.1. Less than 100 mm 5.2. 101-500 mm 5.3. Above 500 mm 6. Global Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Application 6.1. Void Filling 6.2. Cornering 6.3. Insulation 6.4. Blocking & Bracing 7. Global Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By End Use 7.1. Automotive 7.2. Electrical & Electronics 7.3. Energy & Power 7.4. Oil & Gas 8. Global Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 15. Middle East & Africa Stainless Steel Foil Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 16. Country-wise Stainless Steel Foil Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Jainex Steel and Metal 18.2. Metalstripsolutions 18.3. NIPPON STEEL CORPORATION 18.4. Ted Pella, Inc. 18.5. Great Lakes Textiles 18.6. AMETEK Inc. 18.7. MTI Corporation 18.8. Wieland Rolled Products NA 18.9. Ulbrich Stainless Steels and Special Metals Inc. 18.10. MaTecK GmbH 18.11. Unisteels and Engg. Co. Pvt. Ltd. 18.12. Avocet Steel 19. Assumptions and Acronyms Used 20. Research Methodology
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Stainless Steel Foil Market
