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According to Yieh.com, the global stainless steel market was $ 111.4 billion last year and is expected to grow by almost $ 70 billion by 2027, with a 6.3% growth rate from 2020 to 2027.
Compared to conventional steel, stainless steel has advantages, including ease of production and low maintenance costs, which helps to expand the market.
In addition, there is a high demand for stainless steel in some industries, such as health care, cookware, kitchen stoves, etc.
However, it was understood that carbon fiber could become an alternative to stainless steel used in the automotive industry due to its high strength and lightness properties, which could limit development.
