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According to GLOBE NEWSWIRE, the global stainless steel market is forecast to reach $ 105.67 billion in 2020 and is likely to expand significantly between 2021 and 2026. This can be attributed to the growing demand for energy, the rise in car production and the explosive growth in construction.
Stainless steel is a versatile material that is extremely durable and recyclable. At the same time, the drive of leading companies to improve their manufacturing capabilities, as well as the integration of sustainable practices in tandem with strict environmental regulations, are also increasing the overall market size.
However, the slowdown in economic growth in various parts of the world is likely to be a deterrent to the growth of the global stainless steel market.
