Developing manufacturing sector, rising demand from transportation and railway industry along with support from government initiatives to drive India Stainless Steel Market through FY2026. https://bit.ly/3yhdR9R

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MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
2015 – 2025
Published: December 2020
MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
2015 – 2025
Published: March 2021
MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
Published: April 2021
MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
QATAR MEDIUM VOLTAGE
SUBSTATION MARKET- FORECAST &
OPPORTUNITIES
2016 – 2026
Published: February 2021
MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
INDIA STAINLESS STEEL MARKET
FORECAST AND OPPORTUNITIES
FY2016 – FY2026

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T a b l e o f C o n t e n t s
S. No. Contents
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on India Stainless Steel Market
4. Executive Summary
5. Voice of Customer
5.1. Brand Awareness and Brand Recall
5.2. Satisfaction Level
5.3. Factors Considered While Selecting a Supplier
6. India Stainless Steel Market Overview
7. India Stainless Steel Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Grade (200 series, 300 series, 400 series, Duplex, Others)
7.2.2. By Product (Flat and Long)
7.2.3.
By Application (Consumer Goods, Building and Construction, Automotive and
Transportation, Heavy Industry, Others)
7.2.5. By Region (North, West, East, South)
7.2.6. By Company (FY2020)
7.3. Product Market Map
8. North India Stainless Steel Market Outlook
8.1. Market Size & Forecast
8.1.1 By Value
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T a b l e o f C o n t e n t s
S. No. Contents
8.2. Market Share & Forecast
8.2.1. By Grade
8.2.2. By Product Type
8.2.3. By Application
9. West India Stainless Steel Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Grade
9.2.2. By Product Type
9.2.3. By Application
10. South India Stainless Steel Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Grade
10.2.2. By Product Type
10.2.3. By Application
11. East India Stainless Steel Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
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T a b l e o f C o n t e n t s
S. No. Contents
11.2. Market Share & Forecast
11.2.1. By Grade
11.2.2. By Product Type
11.2.3. By Application
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12. Market Dynamics
13.1. Drivers
13.2. Challenges
13. Market Trends and Developments
14. Import and Export Analysis
15. Value Chain Analysis
16. Policy and Regulatory Landscape
17. India Economic Profile
18. Competitive Landscape
18.1. Jindal Stainless Steel Limited
18.2. Jindal Stainless (Hisar) Limited
18.3. Viraj Profiles Limited
18.4. Shah Alloys Limited
18.5. Shyam Ferro Alloys Limited
18.6. Steel Authority of India Limited
18.7. Tata Steel Limited
18.8. Ambica Steels Limited

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T a b l e o f C o n t e n t s
18.9. Visa Steel Limited
18.10. Laxcon Steels Limited
19. Strategic Recommendations
20. About Us & Disclaimer
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S. No. Contents Page No.

6. ProductOverview

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Product Overview
Scope of Interest: Stainless Steel
Review Period
FY2016 – FY2019
Base Year
FY2020
Estimated Year
FY2021
Forecast Period
FY2022 – FY2026
Year Range
STAINLESS STEEL MARKET
BY GRADE
• 200 series
• 300 series
• 400 series
• Duplex
• Others
BY PRODUCT
• Flat
• Long
BY REGION
• North
• South
• East
• West
Stainless steel is a group of iron-based alloys that contain a minimum of approximately 11%
chromium, a composition that prevents the iron from rusting and, in some cases, nickel and other
metals. Different types of stainless steel include the elements carbon, nitrogen, aluminium, silicon,
sulphur, titanium, nickel, copper, selenium, niobium and molybdenum.
Market Segmentation
BY APPLICATION
• Consumer Goods
• Building and Construction
• Automotive and
Transportation
• Heavy Industry
• Others
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8. ResearchMethodology

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Research Methodology
✓ Identifying Key Opinion
Leaders
✓ Questionnaire Design
✓ In-depth Interviews
Data
Collection
Developing List of
Respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine top players,
overall market size and
segmental market size in
India stainless steel market.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
discussion guide.
List of industry
players and industry
specialists was
developed.
TechSci conducted
interviews with
industry experts and
industry players for
data collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
India stainless steel market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
✓ Recent Developments
✓ Market Changing
Aspects/Dynamics
✓ Government Policies
✓ Conclusion
✓ Market Participants
✓ Key Strengths
✓ LinkedIn
✓ TechSci Internal
Database
✓ Factiva
✓ Hoovers
Paid Sources
✓ Company Websites
✓ Company Annual
Reports
✓ White Paper Study
✓ Financial Reports
✓ Investor Presentations
✓ Regulatory Body
Secondary Research
Primary Research
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Research Methodology
10
Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of the India stainless steel market. The team
has analyzed the outlook of various segments of this market, while considering the major influencing factors and speculated a
robust growth during the forecast period. The study includes market forecasting, which would enable our clients to take better
decisions while planning their strategy to achieve sustainability in the India stainless steel market.
Methodology Followed for Calculation of Market Size:
Market Size by Value: Market size, in terms of value, for the year FY2020 was calculated based on information collected
through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders and industry
experts.
The team interviewed more than 20 companies, 50 industry experts and other value chain stakeholders in the India stainless
steel market to obtain the overall market size during FY2016-FY2020, which was validated by the Delphi technique. Taking
standard deviation into consideration, the market size was averaged out, to arrive at the market size data for FY2016-FY2020.

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Research Methodology
11
Respondents were asked about the current and future market growth rates, as well as market shares by grade, by product, by
application, by region, and by company. Removing the outlier responses, the geometric mean of growth estimates and
manufacturer wise revenue shares generated across various segments were considered, to arrive at the final revenue shares.
Revenue shares generated across various segments were further triangulated based on data collected through secondary
research and responses received from other stakeholders specific to each segment.
Methodology Followed for Calculation of Market Shares:
Market shares by grade, by product, by application, by region, and by company were calculated based on the responses
received through primary surveys with industry experts, in which the respondents were asked about the market shares of the
leading distribution transformers players. The final shares were calculated by taking the geometric mean of the responses
gathered from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the leading
companies operating in the India stainless steel market.
Methodology Followed for Forecasting:
TechSci Research performed periodical checks on data collected through the surveys with logical checks and analyzed the
survey results in SPSS/Tableau Software.

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Research Methodology
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Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast
the India stainless steel market, TechSci Research used various forecast techniques such as:
o Moving Average
o Time Series Analysis
o Regression Analysis
o Econometric and Judgmental Analysis
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions.
TechSci Research also used the impact analysis during short, medium and long term period to estimate and analyze market
demand scenario.
Partial List of Companies
Interviewed
Jindal Stainless Steel Limited, Jindal Stainless (Hisar) Limited, Viraj Profiles Limited, Shah
Alloys Limited, Shyam Ferro Alloys Limited, Steel Authority of India Limited, Tata Steel
Limited, Ambica Steels Limited, Visa Steel Limited, Laxcon Steels Limited
Partial List of Secondary
Sources
Company Annual Reports, Press Releases, Industry Magazines, Industry Reports, Company
Websites, TechSci Research Proprietary Database & Knowledge Repository, etc.
*Note: (a) The data given for any year represents the market during the period i.e. 1st April of the previous year to 31st
March of that year. eg: For 2021E, the data represents the period, 1st April 2020 to 31st March 2021.
(b) Sum of some shares may not be 100% due to round off till two decimal places.

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Industry Brief
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According to TechSci Research report, “India Stainless Steel Market By Grade (200 Series, 300 Series, 400 Series, Duplex Series
and others), By Product (Flat and Long), By Application (Consumer Goods, Building and Construction, Automotive and
Transportation, Heavy Industry and Others), By Region, Competition, Forecast & Opportunities, FY2026”, India Stainless Steel
Market was valued at USD9.67 billion in FY2020 and is projected to grow at a CAGR of around 6.87% during FY2021 – FY2026
predominantly due to increased demand from consumer goods and construction sector. The growth of the Stainless Steel Market is
mainly due to the growing construction activities and urbanization in India. Moreover, growing advancements in automotive and
railways sector is further bolstering the growth of the India Stainless Steel Market.
In terms of grade, the India Stainless Steel Market is categorized into 200 series, 300 series, 400 series and duplex series. Among
these, the 200 series grade category accounted for majority in the India Stainless Steel Market in 2020 and it is anticipated to remain
as the largest category throughout the forecast period as well. The growth of the category is majorly attributed to the fact that 200
series stainless steel is less expensive as compared to the other grades and used extensively in consumer goods. However, the
higher grade (300 and 400 series) stainless steel is expected to grow at a faster rate than the 200 series grade owing to the
increased demand from building, construction and transportation sector. Also, the high grade stainless steel is suitable even in
unfavourable conditions, such as high pressure, high temperature, corrosive environment, etc.
Based on the application of stainless steel the market will be dominated by the consumer goods sector owing to the rising
urbanisation and increasing household income. Based on region, the market will see anticipated growth in Northern region of the
country and will be the leader with majority of market share during the forecasted period due to increasing investment in the
construction as well as high population growth in the region.
Jindal Stainless Steel Limited, Jindal Stainless (Hisar) Limited, Viraj Profiles Limited, Shah Alloys Limited, Shyam Ferro Alloys
Limited, Steel Authority of India Limited, Tata Steel Limited, Ambica Steels Limited., Visa Steel limited, Laxcon Steels Limited., and
others are some of the leading players operating in India Stainless Steel Market. The companies operating in the market are using
organic strategies such as product launches, mergers and collaborations to boost their share.
“India Stainless Steel Market is anticipated to grow at a steady pace during the forecast period. However, the market saw a decline in
production due to lockdowns imposed, but the factors such as growing construction sector and urbanization, demand from
automotive and railways sector, and increased demand for consumer durables in India among others are anticipated to boost the
stainless steel market across the country over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.

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Sample Data - Snapshot
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2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
Value (USD Million)
India Stainless Steel Market Size, By Value (USD Million), 2016-2026F
CAGR 2016-2020
By Value: xx%
CAGR 2021E-2026F
By Value: xx%
South India Stainless Steel Market Share, By Grade, By Value, 2016-2026F
2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
200 series 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00%
300 series 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
400 series 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Duplex series 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Others 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
East India Stainless Steel Market Share, By Product, By Value, 2016-2026F
2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F
Flat 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
Long 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00%

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FORECAST AND OPPORTUNITIES
FY2016 – FY2026

16. About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in
number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The
proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’
model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich
evaluation of the opportunities available in the market.
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