Summary: Global stainless steel consumption will raise to 50 million tons in 2018
POSRI predicted 2017 global stainless steel consumption would reach 47 million tons, increased by 3% compared with the same period of last year. POSRI also predicted the demand for stainless steel products in Southeast Asia and India market would have a significant growth and was expected to reach about 2.17 million tons in 2018.
According to POSRI mentioned that stainless steel demand would increase slightly in South Korea because less investments in equipment and the construction industry.
Meanwhile, stainless steel market would be changed in the future as demand for electric vehicles and nickel consumption increased in South Korea. POSRI believed that the future of stainless steel products would be widely used in solar energy, wind energy, biogas and other environmental energy industries.