Stainless steel in infra will sustain demand: Khulbe, Jindal Stainless
Steel

Stainless steel in infra will sustain demand: Khulbe, Jindal Stainless

Globally, demand for stainless steel has grown more than demand for all of its peers, the major metals, ferrous and non-ferrous. Stainless steel recorded a CAGR of 5.33% between 1980 and 2019, thus outpacing carbon steel (CAGR 2.49%) by far, according to the International Stainless Steel Forum. India’s overall stainless steel demand in 2019 was ~3.9 mt.

Demand for stainless steel in India is growing at a CAGR of 8-9%, according to the Indian Stainless Steel Development Association. India’s lower per-capita consumption of stainless steel, ~2.5 kg against the world average of ~6 kg, highlights an immense untapped potential for stainless steel usage in India.

Globally, demand for stainless steel has grown more than demand for all of its peers, the major metals, ferrous and non-ferrous. Stainless steel recorded a CAGR of 5.33% between 1980 and 2019, thus outpacing carbon steel (CAGR 2.49%) by far, according to the International Stainless Steel Forum. India’s overall stainless steel demand in 2019 was ~3.9 mt. Demand for stainless steel in India is growing at a CAGR of 8-9%, according to the Indian Stainless Steel Development Association. India’s lower per-capita consumption of stainless steel, ~2.5 kg against the world average of ~6 kg, highlights an immense untapped potential for stainless steel usage in India. India became the second largest producer of steel in the world in 2018. Is the growth of stainless steel likely to outpace traditional steel? In what is the growth anticipated, and why? Tier 2 and Tier 3 cities are enhancing their consumption of stainless steel much faster. Click here to read our exclusive Q&A with Tarun Kumar Khulbe, Whole-Time Director, Jindal Stainless.

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