Top 10 largest stainless steel manufacturers in the world
BlogDate: 02-04-2024 by: Ngoc Cam
Stainless steel is a material with extremely good corrosion and rust resistance and high aesthetics, widely used in many fields of medicine, interior design and high-end construction. According to the International Stainless Steel Forum (ISSF), it is predicted that stainless steel consumption will increase by 3.6% by 2024. So which leading stainless steel manufacturers in the world will contribute to this growth? Let’s read the article about the top 10 largest stainless steel manufacturers in the world below.
Baosteel Group, China
Baosteel Group is a state-owned steel and iron manufacturing company launched in 2016 after merging with Weihan Iron and Steel Group. Baowu China is the largest steel producer in China and the world with a total output of 119.95 million tons in 2021. Baowu aims to produce 200 million tons of crude steel by 2050 and expand its stainless steel market share by acquiring foreign steel companies. The company produces 03 main types of steel: carbon steel, stainless steel and special steel, exporting to approximately 40 countries in regions including Europe, North America, Asia and Africa.
POSCO, South Korea
POSCO Group is a Korean global stainless steel company, achieving first place in the World Steel Association's competitiveness assessment for 11 consecutive years. Currently, POSCO is operating two integrated steel plants in Korea, located in Pohang and Gwangyang with an annual production capacity of 42 million tons steel. In 2022, POSCO produced nearly 1.5 million tons of stainless steel for application in many fields such as automobile manufacturing, electronic equipment, construction materials,... In Vietnam, POSCO had a joint venture with the Yamato Group, forming POSCO YAMATO VINA STEEL (PY VINA), known as the No. 1 cold-rolled steel and stainless steel manufacturer in Vietnam. POSCO is operating a steel factory in Ba Ria - Vung Tau with an annual production capacity of 1 million tons and 500,000 tons shaped steel.
Outokumpu, Finland
Outokumpu Oyj is the largest stainless steel manufacturing company in Europe and the second in the Americas, headquartered in Finland and operating in more than 40 countries around the world. As the world's leading stainless steel brand, Outokumpu's products meet the requirements of many different industries and strict quality standards.
Outokumpu is also the only stainless steel manufacturer with a fully integrated production line. In 2023, global stainless steel plate production capacity reached 72.6 million tons, up 1% over the same period. Outokumpu aims to produce sustainable stainless steel with 90% of products originating from recycled steel, reducing carbon emissions by 75% compared to conventional steel.
AK Steel, USA
AK Steel Corporation, founded in 1899, has continuously developed the latest technology to lead in the stainless steel industry. After more than 100 years of operation, AK Steel has always been a reliable supplier of high quality stainless steel products. Currently, AK Steel operates 08 steel mills and 02 pipe factories across the United States. In 2019, AK Steel won the title of GM Supplier of the Year for Non Fabricated Steel by General Motors
Nippon Steel Corporation, Japan
Nippon Steel Corporation (NSC) is the largest Japanese steel manufacturer, headquartered in Chiyoda-ku, Tokyo. With more than 16 steel factories in Japan and a series of branches in more than 15 countries, NSC produces and supplies a variety of steel types, especially high quality stainless steel.
Not only has strength in stainless steel production, Nippon Steel was also the largest crude steel producer in Japan and the 4th largest in the world by 2022. In 2023, Nippon acquired one of the first steel corporations of the United States - US Steel. This will increase Nippon Steel's crude steel production capacity to 100 million tons, strengthening its position in the global steel industry.
Tata Steel, India
Tata steel is an Indian multinational steel manufacturing company headquartered in Mumbai. According to the World Steel Association, Tata has entered the top 10 largest steel producing countries in the world with a capacity of 30.59 million tons. Tata Steel aims to reach a production capacity of 40 million tons of steel by 2030.
Aperam, Luxembourg
Aperam is a global stainless steel producer with a capacity of 2.5 million tons of flat stainless steel in Europe and Brazil. In 2022, Aperam achieved revenue of 5,102 million EUR and exported 1.82 million tons. Currently, Aperam is headquartered in Luxembourg, operates 6 production facilities located in Brazil, Belgium and France, 15 steel service centers and 15 sales offices globally. After acquiring ELG in December 2021, the company also became a major recycler of high-performance alloys and stainless steel scrap with an annual capacity of 1.2 million tons. The company generated revenue of $5.121 billion in 2021.
Guangxi chengde Group, China
Guangxi Chengde Group is a joint venture by Guangxi Beibu Gulf International Port Group and Guangdong Foshan Chengde Special Steel Co., Ltd. Guangxi Chengde. They have an annual production capacity of 1.6 million tons of nickel-chromium alloy steel bills, 3 million tons of nickel-chromium alloy hot-rolled strips and 1.2 million tons of strips. Guangxi Chengde Group owns China's largest alloy smelting procedure, leading in stainless steel production techniques, especially plates and stripes.
JFE Steel, Japan
JFE Steel Corporation was established in 2002 through the merger of Kawasaki Steel and Nihon Kokan. JFE Steel is the 2nd largest steel producer in Japan and the only stainless steel producer in the world specializing in ferritic and martensitic stainless steels. JFE Steel Group produces approximately 350,000 tons of thin stainless steel per year, specializing in providing the best quality stainless steel products to consumers globally.
Acerinox, Spain
Acerinox, founded in 1970, is Spain's largest stainless steel producer with a smelting plant with a capacity of 3.5 million tons. Acerinox's production network includes 13 factories, including 6 stainless steel factories. In March 2020, Acerinox acquired VDM Metals for $534 million. VDM Metals specializes in the production and development of special alloys and high-performance stainless steels and is recognized as the R+D+I standard in the industry.
Hopefully MRS Steel's article on the top 10 largest stainless steel manufacturers in the world has helped you update the latest global steel news. If you have any questions or need to import high quality Vietnamese steel at good prices, please contact MRS Steel for the best advice!
