Steel Dreams: India’s Stainless Demand Gears Up for a 7-8% Surge over 2-3 Years

India’s stainless steel sector is gearing up for robust growth, with demand projected to rise 7–8% annually over the next 2–3 years, according to the Indian Stainless Steel Development Association (ISSDA). This surge is fueled by a government-led infrastructure push and low per capita consumption, offering vast potential for expansion.

 

Key Highlights

 

• Stainless steel consumption hit 4.8 million tonnes in FY25, up 8% year-on-year.

• India remains the world’s second-largest stainless steel consumer and third-largest producer, after China and Indonesia.

• Major demand drivers include railways, tunnels, ports, airports, highways, and green hydrogen projects.

• India’s per capita stainless steel use is just 3.4 kg, compared to the global average of 6 kg—highlighting significant headroom for growth.

• The construction market is expected to reach $1.42 trillion by 2027, further boosting steel demand.

 

Outlook

 

With sustained infrastructure investment and new applications like green hydrogen, India’s stainless steel sector is set for a shiny future—positioning the country as a global growth engine in the industry.

 

Source: Economic Times