India Stainless Steel Market Size & Outlook, 2025-2030
Global Market
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India stainless steel market highlights
- The India stainless steel market generated a revenue of USD 9,388.1 million in 2024 and is expected to reach USD 15,785.5 million by 2030.
- The India market is expected to grow at a CAGR of 9.1% from 2025 to 2030.
- In terms of segment, 300 series was the largest revenue generating grade in 2024.
- Duplex series is the most lucrative grade segment registering the fastest growth during the forecast period.
Stainless steel market data book summary
| Market revenue in 2024 | USD 9,388.1 million |
| Market revenue in 2030 | USD 15,785.5 million |
| Growth rate | 9.1% (CAGR from 2025 to 2030) |
| Largest segment | 300 series |
| Fastest growing segment | Duplex series |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | 200 series, 300 series, 400 series, Duplex series, Other Grade |
| Key market players worldwide | Acerinox SA, Aperam, ArcelorMittal SA Depository Receipt, BAOSTEEL, Jindal Stainless, Nippon Steel Corp, Outokumpu Oyj Class A, POSCO Holdings Inc ADR, Thyssenkrupp AG, Yieh United Steel |
Other key industry trends
- In terms of revenue, India accounted for 7.4% of the global stainless steel market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China stainless steel market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 15,785.5 million by 2030.
Government initiatives such as ‘Skill India’ and Make in India’ are important factors in the growth of the market. This has prompted many automakers to set their offices in India and procure high-quality products from stainless steel vendors in India.
The growing demand for auto products due to rising automotive production, increase in export, and diversification of the auto sector has created a positive impact on the stainless steel industry. Although, India automotive industry shows great potential and short term sluggish behavior of the market is expected to be nullify over the long term period.
Long-term expansion strategies by top car manufacturers are likely boost the demand for stainless steel. In July 2018, Maruti Suzuki announced its plan to increase the production capacity by 7.5 lakh units of passenger cars in Gujarat plant by 2020. This is expected to create a positive impact on the stainless steel market growth over the forecast period.
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Publish Date: Oct 16, 2025
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Stainless Steel Market Scope
Stainless Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ArcelorMittal SA Depository Receipt | View profile | 126,756 | 24-26, Boulevard d’Avranches, Luxembourg, Luxembourg, L-1160 | www.arcelormittal.com |
| Nippon Steel Corp | View profile | 121,990 | 6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8071 | www.nipponsteel.com |
| POSCO Holdings Inc ADR | View profile | 44,501 | POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, Korea, Republic of, 06194 | www.posco.co.kr |
| Thyssenkrupp AG | View profile | 100,202 | ThyssenKrupp Allee 1, Essen, NW, Germany, 45143 | www.thyssenkrupp.com |
| Acerinox SA | View profile | 8,245 | Calle Santiago de Compostela, no. 100, Madrid, Spain, 28035 | www.acerinox.com |
| Outokumpu Oyj Class A | View profile | 8,776 | Salmisaarenranta 11, Helsinki, Finland, FI-00180 | www.outokumpu.com |
| BAOSTEEL | View profile | 10001+ | Shanghai, Shanghai, China, Asia | www.baosteel.com/group_en/ |
| Yieh United Steel | View profile | 51-100 | Kaohsiung, T'ai-wan, Taiwan, Asia | www.yusco.com.tw |
| Jindal Stainless | View profile | 10001+ | New Delhi, Delhi, India, Asia | www.jindalstainless.com/ |
| Aperam | View profile | 5001-10000 | Luxembourg, Luxembourg, Luxembourg, Europe | www.aperam.com |
India Stainless Steel Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Stainless Steel Market Outlook will help companies and investors design strategic landscapes.
300 Series was the largest segment with a revenue share of 46.14% in 2024.
Horizon Databook has segmented the India stainless steel market based on 200 series, 300 series, 400 series, duplex series, other grade covering the revenue growth of each sub-segment from 2018 to 2030.
Government initiatives such as ‘Skill India’ and Make in India’ are important factors in the growth of the market. This has prompted many automakers to set their offices in India and procure high-quality products from stainless steel vendors in India.
The growing demand for auto products due to rising automotive production, increase in export, and diversification of the auto sector has created a positive impact on the stainless steel industry. Although, India automotive industry shows great potential and short term sluggish behavior of the market is expected to be nullify over the long term period.
Long-term expansion strategies by top car manufacturers are likely boost the demand for stainless steel. In July 2018, Maruti Suzuki announced its plan to increase the production capacity by 7.5 lakh units of passenger cars in Gujarat plant by 2020. This is expected to create a positive impact on the stainless steel market growth over the forecast period.
- India Stainless Steel Market Grade Outlook (Revenue, USD Million , 2018-2030)
- 200 series
- 300 series
- 400 series
- Duplex series
- Other Grade
- India Stainless Steel Market Product Outlook (Revenue, USD Million , 2018-2030)
- Flat Products
- Long Products
- India Stainless Steel Market Application Outlook (Revenue, USD Million , 2018-2030)
- Building & Construction
- Automotive & Transportation
- Consumer Goods
- Mechanical Engineering & Heavy Industries
- Other Application
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Horizon Databook provides a detailed overview of country-level data and insights on the India Stainless Steel Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Stainless Steel Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
India Stainless Steel Market, 2018-2030 (US$M)
India Grade - Stainless Steel Market Statistics, 2024 - 2030 (US$M)
