Depending on the density of the metal it is used for the production of several equipment ranging from kitchen accessories, cookware, and cutleries to utensils and knives with less ductile and more ductile grades. With its wide variety of application purposes, the global demand for this product has increased a lot due to which the manufacturing industries have increased their production rate to cater the global needs.

Due to the increased global consumption of this metal, stainless steel has been divided into different categories like Austenitic, Ferritic, Martensitic, Duplex, and Precipitation hardening to cater to each requirement sector. The production costs, increased demands from various industries, market trends, and government policies altogether have been promoting the growth rate of stainless steel trade for the past consecutive years and have recorded a total global consumption rate of 133.8 billion US dollars in 2023 worth 53.4 million metric tons. Far beyond the production of crockeries and cutleries the stainless steel plays a great role of significance in construction sites also due to its wide rolled tube-like structures used for base construction.

Top 10 Importers of Stainless Steel 2023

The versatility and durability of stainless steel made the products manufactured from it long-lasting due to which the global demand for this metal is increasing at a rapid rate. With an import trade value of 30 billion US dollars in 2023, stainless steel has recorded its name as one of the top globally traded products. As per the Stainless Steel Global Trade Data, the top 10 importers across the globe are discussed below,

• China – According to China Import Data, the Import Trade value of stainless steel in 2023 is 18 billion US dollars.

• United States – According to USA Import Data, the Import Trade value of stainless steel in 2023 is 12 billion US dollars.

• Germany – According to Germany Import Data, the Import Trade value of stainless steel in 2023 is 8 billion US dollars.

• South Korea – According to South Korea Import Data, the Import Trade value of stainless steel in 2023 is 6 billion US dollars.

• Italy – According to Italy Import Data, the Import Trade value of stainless steel in 2023 is 5 billion US dollars.

• France – According to France Import Data, the Import Trade value of stainless steel in 2023 is 4 billion US dollars.

• Taiwan – According to Taiwan Import Data, the Import Trade value of stainless steel in 2023 is 3 billion US dollars.

• Netherlands – According to Netherlands Import Data, the Import Trade value of stainless steel in 2023 is 2.5 billion US dollars.

• Belgium – According to Belgium Import Data, the Import Trade value of stainless steel in 2023 is 2 billion US dollars.

• Turkey – According to Turkey Import Data, the Import Trade value of stainless steel in 2023 is 1.5 billion US dollars.

Top 10 Exporters of Stainless Steel 2023

The rust and corrosion-resistant materials have getting a hike in global demand for the past consecutive years because of their longer shelf life along with more durability and sustainability. The multipurpose effects of stainless steel in different industries ranging from automotive to construction sites make it a top global export. As per the Stainless Steel Export Data, the top 10 exporters across the globe with their trade values are discussed below,

• China – As per China Export Data, the Export Trade value of stainless steel in 2023 is 30 billion US dollars.

• Japan – As per Japan Export Data, the Export Trade value of stainless steel in 2023 is 6 billion US dollars.

• South Korea – As per South Korea Export Data, the Export Trade value of stainless steel in 2023 is 5 billion US dollars.

• Taiwan – As per Taiwan Export Data, the Export Trade value of stainless steel in 2023 is 4 billion US dollars.

• Germany – As per Germany Export Data, the Export Trade value of stainless steel in 2023 is 3 billion US dollars.

• Italy – As per Italy Export Data, the Export Trade value of stainless steel in 2023 is 2 billion US dollars.

• India – As per India Export Data, the Export Trade value of stainless steel in 2023 is 1.5 billion US dollars.

• Spain – As per Spain Export Data, the Export Trade value of stainless steel in 2023 is 1 billion US dollars.

• United States – As per USA Export Data, the Export Trade value of stainless steel in 2023 is 900 million US dollars.

• United Kingdom – As per United Kingdom Export Data, the Export Trade value of stainless steel in 2023 is 800 million US dollars.

Top 10 Leading Stainless Steel Producers

The producing companies across the globe serve the national and international trade of stainless steel in all countries. Leading producers account for the majority of the export share due to the abundance of its production rate to cater to global trade growth. As per the Stainless Steel Export Import Data, the top 10 leading producers of this versatile metal with its production rates are discussed below,

• ArcelorMittal – Based in – Luxembourg – Total Global production of Stainless Steel in 2023 – 97 million tonnes worth 70 billion US dollars.

• Nippon Steel Corporation – Based in – Japan – Total Global production of Stainless Steel in 2023 – 50 million tonnes worth 35 billion US dollars.

• OutoKumpu – Based in – Finland – Total Global production of Stainless Steel in 2023 – 25 million tonnes worth 15 billion US dollars.

• POSCO – Based in – South Korea – Total Global production of Stainless Steel in 2023 – 15 million tonnes worth 12 billion US dollars.

• JFE Holdings Inc – Based in – Japan – Total Global production of Stainless Steel in 2023 – 7 million tonnes worth 10 billion US dollars.

• Aperam – Based in – Luxembourg – Total Global production of Stainless Steel in 2023 – 5 million tonnes worth 9 billion US dollars.

• Baosteel Group Corporation – Based in – China – Total Global production of Stainless Steel in 2023 – 4 million tonnes worth 8 billion US dollars.

• ThyssenKrupp AG – Based in – Germany – Total Global production of Stainless Steel in 2023 – 3 million tonnes worth 7 billion US dollars.

• Sandvik AB – Based in – Sweden – Total Global production of Stainless Steel in 2023 – 2 million tonnes worth 6 billion US dollars.

• ACerinox SA – Based in – Europe – Total Global production of Stainless Steel in 2023 – 1 million tonnes worth 5 billion US dollars.

FAQ’s

Que. What is the global consumption rate of stainless steel in 2023?
Ans. The global consumption rate of stainless steel in 2023 is 53.4 million metric tons worth 133.8 billion US dollars.

Que. Who will be the top importer of stainless steel in 2023?
Ans. China with an import trade value of 18 billion US dollars tops the list of global stainless steel importers of 2023.

Que. Where can you get the detailed trade statistics of Stainless Steel import and export 2023?
Ans. At Import Globals, you can get detailed trade statistics of stainless steel import and export trade in 2023.

www.importglobals.com ; info@importglobals.com