Views: 10 Author: Lychee Publish Time: 2023-11-09 Origin: Site
From 2010 to 2019, global stainless steel production grew from 31.094 million tons to 52.218 million tons, with a compound annual growth rate of 5.93%, and the incremental supply mainly came from China.In 2020, the global economic situation has undergone many significant changes. The global epidemic triggered numerous uncertainties, resulting in weak global economic growth and a decline in stainless steel production.Global stainless steel production in 2020 totaled 50.89 million tons, a year-on-year decline of 2.5%.Global stainless steel crude steel production in 2022 was 55.255 million tons, a year-on-year decline of 5.2%.
In 2022, the global production of all major stainless steel production areas have declined, China is still the world's largest stainless steel producer. European stainless steel production was 6.294 million tons, a year-on-year decrease of 12.4%; U.S. production was 2.017 million tons, a year-on-year decline of 14.8%; China's stainless steel production was 31.975 million tons, a year-on-year decline of 2.0%, accounting for 57.9% of the global production; Asia (excluding China and South Korea) stainless steel production was 7.411 million tons, a year-on-year decline of 4.9%; other countries ( Brazil, Russia, South Africa, South Korea, Indonesia) stainless steel production of 7.557 million tons, down 9.1% year on year.
In October 2022, the World Stainless Steel Association announced the global stainless steel consumption forecast during the World Stainless Steel Conference meeting, the global consumption forecast was finalized as a decrease of 0.6% in 2022 and an increase of 3.2% in 2023, and the overall social demand is stable.In 2020, the global stainless steel is mainly consumed by the distribution of metal products and mechanical engineering, with a consumption share of 37.7% and 28.7%, respectively.
As the impact of the global epidemic gradually subsides, social demand ushered in a further recovery, the economic construction of countries began to ramp up, the use of stainless steel products is expected to enhance demand. Overall, the global stainless steel consumption tends to stabilize, benefiting from the application of new high-end stainless steel varieties and further enhancement of energy-saving production processes, the future of global stainless steel consumption is still expected to maintain steady growth.
