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  • Algeria
    Europe’s unforced errors in the Maghreb

    Europe’s unforced errors in the Maghreb

    Algeria: Heatwave forecast across central and northeastern regions through at least July 2

    Algeria: Postal workers on strike as of Jan. 29

    Algeria tenders to buy nominal 50000 tonnes durum wheat -traders – Nasdaq

    Pan African Parliament president Charumbira in Algeria

    Pan African Parliament president Charumbira in Algeria

    AP Business SummaryBrief at 2:55 a.m. EST | Business … – Valdosta Daily Times

    AP Business SummaryBrief at 2:55 a.m. EST | Business … – Valdosta Daily Times

    Iran, Nigeria set up joint sci-tech working group

    Iran, Nigeria set up joint sci-tech working group

  • Egypt
    Egypt released 135,000 tons of corn, soy fodder worth $91 million from ports last week: Minister – Economy – Business

    Egypt released 135,000 tons of corn, soy fodder worth $91 million from ports last week: Minister – Economy – Business

    India and Egypt Expand Space Cooperation through a Strategic Partnership

    India and Egypt Expand Space Cooperation through a Strategic Partnership

    Arab Africa Trade Bridges (AATB) Program Hosts Series of Bilateral Trade Business to Business (B2B) Meetings in Casablanca, Morocco

    Arab Africa Trade Bridges (AATB) Program Hosts Series of Bilateral Trade Business to Business (B2B) Meetings in Casablanca, Morocco

    Egypt efforts to modernise aircraft inventory to drive defence expenditure

    Egypt efforts to modernise aircraft inventory to drive defence expenditure

    Is now the right time for Egypt's government IPOs? – Daily News Egypt

    Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023

    Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023

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    • Commentary
    • Featured
    • Event
    • Editorial
  • Libya
    Ministry of Economy convenes meeting on food and drug security

    Ministry of Economy convenes meeting on food and drug security

    Italy, Libya sign $8-billion gas deal as PM Meloni visits Tripoli

    Italy, Libya sign $8-billion gas deal as PM Meloni visits Tripoli

    Libya, Italy sign agreements to enhance cooperation

    Eni signs $8bn gas deal with Libya amid political unrest

    Eni signs $8bn gas deal with Libya amid political unrest

    Arab states boycott regional meeting in divided Libyan capital – World

    Arab states boycott regional meeting in divided Libyan capital – World

    Libya: Heightened security, disruptions likely as of early June 11 following clashes between armed groups in Tripoli

    Libya: Clashes erupted at Tripoli International Airport between militias aligned with Government of National Unity early Jan. 19

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    • Morocco
      Spain, Morocco To Sign 20 Bilateral Agreements During … – Morocco World News

      Spain, Morocco To Sign 20 Bilateral Agreements During … – Morocco World News

      Africa IVD Market to be Worth $1.78 Billion by 2029

      Africa IVD Market to be Worth $1.78 Billion by 2029

      Europe Eyes Morocco, Africa as 'Future Source of Cheap … – Morocco World News

      Europe Eyes Morocco, Africa as 'Future Source of Cheap … – Morocco World News

      Strike Over Pensions: Royal Air Maroc Cancels Flights From, To Paris – Morocco World News

      Strike Over Pensions: Royal Air Maroc Cancels Flights From, To Paris – Morocco World News

      Fifty local elected officials from the Oriental region trained in territorial coaching

      Fifty local elected officials from the Oriental region trained in territorial coaching

      Global Morocco Cosmetics Market Size, Share, Movements By Trend Analysis, Growth Status, Revenue Analysis To 2028

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      • South Sudan
        Pope Francis’ plea for trip to Congo and South Sudan: No more bloodshed

        Pope Francis’ plea for trip to Congo and South Sudan: No more bloodshed

        South Sudan president directs payment of UN membership arrears – Sudan Tribune

        Through football, South Sudan’s youth forge ahead – DW – 01/16/2023

        Through football, South Sudan’s youth forge ahead – DW – 01/16/2023

        South Sudan President’s Video | Nation/World

        South Sudan President’s Video | Nation/World

        Is South Sudan the next major migration movement in the making?

        Is South Sudan the next major migration movement in the making?

        11 killed in South Darfur attacks says state government

        11 killed in South Darfur attacks says state government

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        • Sudan
          Gives on the Go is the space for helping business owners with business credit and financing.

          Gives on the Go is the space for helping business owners with business credit and financing.

          UAE Yahsat’s subsidiary YahClick signs $15mln deal to boost Africa presence

          UAE Yahsat’s subsidiary YahClick signs $15mln deal to boost Africa presence

          Flood rapid assessment report: Mundri West and East Counties Western Equatoria State 08th -09th September 2022 – South Sudan

          Flood rapid assessment report: Mundri West and East Counties Western Equatoria State 08th -09th September 2022 – South Sudan

          Hope for Peace in Sudan as High-Profile Talks Kick Off in Juba

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          SAGALIAM ACQUISITION CORP. CONFIRMS FUNDING AND EXTENSION OF DEADLINE TO COMPLETE INITIAL BUSINESS COMBINATION

          The Indonesian Ambassador to Khartoum Received a Visit from the Jambi Student Association

          The Indonesian Embassy in Khartoum Supports the Graduation Ceremony of Indonesian Students in Sudan

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          • Tunisia
            Tunisia: ASSAD increases turnover by 6% to 102 million dinars in 2022

            Tunisia: ASSAD increases turnover by 6% to 102 million dinars in 2022

            Gunmen kill eight at birthday party in South Africa-Police

            Gunmen kill eight at birthday party in South Africa-Police

            IoT In Banking & Financial Services Market to See Booming Growth

            Another uprising is in the making in Tunisia | Opinions

            Another uprising is in the making in Tunisia | Opinions

            Algeria opens doors to tourists, visa on arrival plan – Arabian Business

            Algeria Takes New Measures to Boost Desert Tourism

            Algeria Takes New Measures to Boost Desert Tourism

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            • North Africa
              Spotcovery, Which Serves as a Bridge Between African Americans and Africans, has Launched Optimization Tool on Site

              Spotcovery, Which Serves as a Bridge Between African Americans and Africans, has Launched Optimization Tool on Site

              The Water Project Deepens its Commitment to Clean Water to Vihiga County, Kenya

              Mradi wa Maji waiimarisha ahadi yake ya kusafisha maji katika Kaunti ya Vihiga, Kenya

              The Water Project Deepens its Commitment to Clean Water to Vihiga County, Kenya

              The Water Project Renforce son Engagement en Faveur de l’Eau Potable dans le Comté de Vihiga, Kenya.

              The Water Project Deepens its Commitment to Clean Water to Vihiga County, Kenya

              The Water Project Deepens its Commitment to Clean Water to Vihiga County, Kenya

              NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

              NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

              NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

              تحدد جمعية زوجات الضباط البحريين (NOWA) 16 من الإنجازات الرئيسية لحاجيه عائشة غامبو في عامين

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              • Middle east
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                Wahyd Expands Tech-Enabled Logistics Platform to Saudi Arabia

                NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                تحدد جمعية زوجات الضباط البحريين (NOWA) 16 من الإنجازات الرئيسية لحاجيه عائشة غامبو في عامين

                The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023

                The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023

                The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023

                تستقطب قمة الخليج للشؤون الدوائية في نسختها الثامنة في دبي عام 2023

                ء ﺑﺎﻟﯿﻮم ﻣﺴﺎﺑﻘﺔ اﻟﺸﺒﺎب ﻟﻠﻔﻨﻮن ﺗﺘﯿﺢ ﻟﻠﻤﻮھﻮﺑﯿﻦ اﻟﺸﺒﺎب ﻓﻲ ﺟﻤﯿﻊ أﻧﺤﺎء اﻟﻌﺎﻟﻢ ﻓﺮﺻﺔ اﻹﺑﺪاع اﺣﺘﻔﺎ اﻟﻌﺎﻟﻤﻲ ﻟﻸﺣﯿﺎء اﻟﺒﺮﯾﺔ

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                • Press releases
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                  Bio-based Polyurethane Foam Market is expected to grow at a CAGR of 5.9 percent during the forecast period.

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                  • Algeria
                    Europe’s unforced errors in the Maghreb

                    Europe’s unforced errors in the Maghreb

                    Algeria: Heatwave forecast across central and northeastern regions through at least July 2

                    Algeria: Postal workers on strike as of Jan. 29

                    Algeria tenders to buy nominal 50000 tonnes durum wheat -traders – Nasdaq

                    Pan African Parliament president Charumbira in Algeria

                    Pan African Parliament president Charumbira in Algeria

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                    AP Business SummaryBrief at 2:55 a.m. EST | Business … – Valdosta Daily Times

                    Iran, Nigeria set up joint sci-tech working group

                    Iran, Nigeria set up joint sci-tech working group

                  • Egypt
                    Egypt released 135,000 tons of corn, soy fodder worth $91 million from ports last week: Minister – Economy – Business

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                    India and Egypt Expand Space Cooperation through a Strategic Partnership

                    India and Egypt Expand Space Cooperation through a Strategic Partnership

                    Arab Africa Trade Bridges (AATB) Program Hosts Series of Bilateral Trade Business to Business (B2B) Meetings in Casablanca, Morocco

                    Arab Africa Trade Bridges (AATB) Program Hosts Series of Bilateral Trade Business to Business (B2B) Meetings in Casablanca, Morocco

                    Egypt efforts to modernise aircraft inventory to drive defence expenditure

                    Egypt efforts to modernise aircraft inventory to drive defence expenditure

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                    Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023

                    Islamic Corporation for the Development of the Private Sector (ICD) Sign $120 Million Program for 2023

                    Trending Tags

                    • Commentary
                    • Featured
                    • Event
                    • Editorial
                  • Libya
                    Ministry of Economy convenes meeting on food and drug security

                    Ministry of Economy convenes meeting on food and drug security

                    Italy, Libya sign $8-billion gas deal as PM Meloni visits Tripoli

                    Italy, Libya sign $8-billion gas deal as PM Meloni visits Tripoli

                    Libya, Italy sign agreements to enhance cooperation

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                    Eni signs $8bn gas deal with Libya amid political unrest

                    Arab states boycott regional meeting in divided Libyan capital – World

                    Arab states boycott regional meeting in divided Libyan capital – World

                    Libya: Heightened security, disruptions likely as of early June 11 following clashes between armed groups in Tripoli

                    Libya: Clashes erupted at Tripoli International Airport between militias aligned with Government of National Unity early Jan. 19

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                    • Morocco
                      Spain, Morocco To Sign 20 Bilateral Agreements During … – Morocco World News

                      Spain, Morocco To Sign 20 Bilateral Agreements During … – Morocco World News

                      Africa IVD Market to be Worth $1.78 Billion by 2029

                      Africa IVD Market to be Worth $1.78 Billion by 2029

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                      Europe Eyes Morocco, Africa as 'Future Source of Cheap … – Morocco World News

                      Strike Over Pensions: Royal Air Maroc Cancels Flights From, To Paris – Morocco World News

                      Strike Over Pensions: Royal Air Maroc Cancels Flights From, To Paris – Morocco World News

                      Fifty local elected officials from the Oriental region trained in territorial coaching

                      Fifty local elected officials from the Oriental region trained in territorial coaching

                      Global Morocco Cosmetics Market Size, Share, Movements By Trend Analysis, Growth Status, Revenue Analysis To 2028

                      Trending Tags

                      • South Sudan
                        Pope Francis’ plea for trip to Congo and South Sudan: No more bloodshed

                        Pope Francis’ plea for trip to Congo and South Sudan: No more bloodshed

                        South Sudan president directs payment of UN membership arrears – Sudan Tribune

                        Through football, South Sudan’s youth forge ahead – DW – 01/16/2023

                        Through football, South Sudan’s youth forge ahead – DW – 01/16/2023

                        South Sudan President’s Video | Nation/World

                        South Sudan President’s Video | Nation/World

                        Is South Sudan the next major migration movement in the making?

                        Is South Sudan the next major migration movement in the making?

                        11 killed in South Darfur attacks says state government

                        11 killed in South Darfur attacks says state government

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                        • Sudan
                          Gives on the Go is the space for helping business owners with business credit and financing.

                          Gives on the Go is the space for helping business owners with business credit and financing.

                          UAE Yahsat’s subsidiary YahClick signs $15mln deal to boost Africa presence

                          UAE Yahsat’s subsidiary YahClick signs $15mln deal to boost Africa presence

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                          Flood rapid assessment report: Mundri West and East Counties Western Equatoria State 08th -09th September 2022 – South Sudan

                          Hope for Peace in Sudan as High-Profile Talks Kick Off in Juba

                          Hope for Peace in Sudan as High-Profile Talks Kick Off in Juba

                          SAGALIAM ACQUISITION CORP. CONFIRMS FUNDING AND EXTENSION OF DEADLINE TO COMPLETE INITIAL BUSINESS COMBINATION

                          SAGALIAM ACQUISITION CORP. CONFIRMS FUNDING AND EXTENSION OF DEADLINE TO COMPLETE INITIAL BUSINESS COMBINATION

                          The Indonesian Ambassador to Khartoum Received a Visit from the Jambi Student Association

                          The Indonesian Embassy in Khartoum Supports the Graduation Ceremony of Indonesian Students in Sudan

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                          • Tunisia
                            Tunisia: ASSAD increases turnover by 6% to 102 million dinars in 2022

                            Tunisia: ASSAD increases turnover by 6% to 102 million dinars in 2022

                            Gunmen kill eight at birthday party in South Africa-Police

                            Gunmen kill eight at birthday party in South Africa-Police

                            IoT In Banking & Financial Services Market to See Booming Growth

                            Another uprising is in the making in Tunisia | Opinions

                            Another uprising is in the making in Tunisia | Opinions

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                            Algeria Takes New Measures to Boost Desert Tourism

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                            • North Africa
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                              Mradi wa Maji waiimarisha ahadi yake ya kusafisha maji katika Kaunti ya Vihiga, Kenya

                              The Water Project Deepens its Commitment to Clean Water to Vihiga County, Kenya

                              The Water Project Renforce son Engagement en Faveur de l’Eau Potable dans le Comté de Vihiga, Kenya.

                              The Water Project Deepens its Commitment to Clean Water to Vihiga County, Kenya

                              The Water Project Deepens its Commitment to Clean Water to Vihiga County, Kenya

                              NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                              NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                              NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                              تحدد جمعية زوجات الضباط البحريين (NOWA) 16 من الإنجازات الرئيسية لحاجيه عائشة غامبو في عامين

                              Trending Tags

                              • Middle east
                                Wahyd Expands Tech-Enabled Logistics Platform to Saudi Arabia

                                Wahyd Expands Tech-Enabled Logistics Platform to Saudi Arabia

                                NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                                NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                                NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

                                تحدد جمعية زوجات الضباط البحريين (NOWA) 16 من الإنجازات الرئيسية لحاجيه عائشة غامبو في عامين

                                The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023

                                The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023

                                The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023

                                تستقطب قمة الخليج للشؤون الدوائية في نسختها الثامنة في دبي عام 2023

                                ء ﺑﺎﻟﯿﻮم ﻣﺴﺎﺑﻘﺔ اﻟﺸﺒﺎب ﻟﻠﻔﻨﻮن ﺗﺘﯿﺢ ﻟﻠﻤﻮھﻮﺑﯿﻦ اﻟﺸﺒﺎب ﻓﻲ ﺟﻤﯿﻊ أﻧﺤﺎء اﻟﻌﺎﻟﻢ ﻓﺮﺻﺔ اﻹﺑﺪاع اﺣﺘﻔﺎ اﻟﻌﺎﻟﻤﻲ ﻟﻸﺣﯿﺎء اﻟﺒﺮﯾﺔ

                                Youth Artists Across the World Called to get Creative for Wildlife

                                Trending Tags

                                • Press releases
                                  Recreation Club Market is expected to grow at a CAGR of 6.8 percent during the forecast period.

                                  Recreation Club Market is expected to grow at a CAGR of 6.8 percent during the forecast period.

                                  CO2 Gas Sensor Market is expected to grow at a CAGR of 9.2 percent during the forecast period.

                                  CO2 Gas Sensor Market is expected to grow at a CAGR of 9.2 percent during the forecast period.

                                  UV Tape Market is expected to grow at a CAGR of 7.4 percent during the forecast period

                                  UV Tape Market is expected to grow at a CAGR of 7.4 percent during the forecast period

                                  Methyl Palmitate Market is expected to grow at a CAGR of 5.2 percent during the forecast period

                                  Methyl Palmitate Market is expected to grow at a CAGR of 5.2 percent during the forecast period

                                  Bioink Market is expected to grow at a CAGR of 20.48 percent during the forecast period

                                  Bioink Market is expected to grow at a CAGR of 20.48 percent during the forecast period

                                  Bio-based Polyurethane Foam Market is expected to grow at a CAGR of 5.9 percent during the forecast period.

                                  Bio-based Polyurethane Foam Market is expected to grow at a CAGR of 5.9 percent during the forecast period.

                                  Trending Tags

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                                  Home Press Releases

                                  Stainless Steel Forgings Market Size Forecast to Reach $8.2 Billion by 2026

                                  admin by admin
                                  February 13, 2022
                                  in Press Releases
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                                  (EMAILWIRE.COM, February 13, 2022 ) Stainless Steel Forgings market size is forecast to reach US$8.2 billion by 2026, after growing at a CAGR of 4.5% during 2021-2026. Stainless steel forgings are extremely durable, offer high corrosion resistance and high heat resistance, which makes them ideal for use in a versatile range of manufacturing industries. The ability of stainless steel to create a protective oxide layer that extends the life of pressure vessel components and flanges is the major factor responsible for the growth of the market. The demand for stainless steel forgings is being driven by stainless steel’s high recyclability. Companies are adapting to highly advanced forging technologies to gain a competitive edge in traditional markets, such as mass production and commodities markets, where manufacturers are facing increasing competitive pressure. The growing use of these products in industrial and aviation applications is providing a growth opportunity for the industry.

                                  COVID-19 Impact

                                  COVID-19’s outbreak in 2020 has had an impact on the global economy and demand scenario in major industries around the world. The global lockdown and restriction of industrial operations, trade activities, supply-chain disruption, and other activities culminated in the pandemic scenario. During this circumstance, the key end industries of stainless steel forgings, such as automotive, construction, aerospace, oil & gas, and more were also influenced. The market was impacted by a drop in oil prices and delays in new pipeline installation, lower demand from the automotive sector, and a temporary halt in construction activities across the world for a few months in 2020. As a result of slow demand from end-use industries, the growth of the stainless steel forgings market slowed down in 2020. However, the market is recovering, and businesses have resumed operations with reduced capacity and under government guidelines, owing to which all end-use industries were fully operational by the beginning of 2021, resulting in high demand for stainless steel forgings. As a result, the market is expected to grow at a rapid rate over the forecast period.

                                  Stainless Steel Forgings Market Segment Analysis – By Stainless Steel Type

                                  The martensitic segment held the largest share in the stainless steel forgings market in 2020, due to martensitic steels’ unique properties, such as their higher strength-to-weight ratio when compared to other stainless steels. Martensitic materials are mostly used in the development of automotive safety and structural components. The high tensile strength of martensitic steel makes it ideal for cold-forming structural components. Furthermore, martensitic stainless steel has a high energy absorption capacity and a long elongation. It’s also more formable and has higher component strength, which is anticipated to boost the demand for martensitic stainless steel during the forecast period.

                                  Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=503572

                                  Report Price: $ 4500 (Single User License)

                                  Stainless Steel Forgings Market Segment Analysis – By Process

                                  The open die forging segment held the largest share in the stainless steel forgings market in 2020. Two flat or simply shaped dies are used to apply pressure to the base material from both sides in open die forging. The material is formed into the desired shape by repeatedly applying high-level compression or hammering to the die. The process can accommodate the creation of larger and heavier components because the dies used do not completely enclose the base material (hence the open die designation) and allow for lateral movement. Compared to other forging processes, open die forging produces very little material waste and final products with more consistent grain structures and higher fatigue resistance, owing to which it is preferred over other forging types. The aircraft and railway industries often make use of this process to manufacture large and heavy components, such as cylinders, rollers, and shafts, which is also projected to aid towards its market growth.

                                  Stainless Steel Forgings Market Segment Analysis – By Product Type

                                  The hot/cold-forged parts segment held the largest share in the stainless steel forgings market in 2020 up to 82% by volume. Hot forging allows for maximum material deformation as well as access to complex 3D geometries due to the high temperature used. Hot forged components have higher ductility, making them ideal for a variety of applications. Hot forging is also a versatile technique because it allows for the creation of customized parts. The cold forging extrusion is widely used in the production of automotive components. Manufacturers generally prefer cold forging over hot forging because cold forged parts require little or no finishing. Thus, owing to these advantages associated with hot/cold-forged parts its demand is increasing.

                                  Stainless Steel Forgings Market Segment Analysis – By End-Use Industry

                                  The industrial segment held the highest share in the stainless steel forgings market in 2020 and is forecasted to grow at a CAGR of 6.8% during 2021-2026. Stainless steel forging is used in petrochemicals, storage tanks, pressure wells, and other applications in the oil and gas industry. Heat exchangers, flow lines, structural components, umbilicals, and processing equipment are all made of super duplex stainless steel. Stainless steel is widely used in marine environments and offshore oil rigs. Stainless steels have high corrosion resistance, high heat resistance, and other properties that make them ideal for the food and beverage industry. Stainless steel is a non-toxic material that can be used in the kitchen. It does not rust or corrode because it does not provide livable conditions for harmful pathogens. Also, it’s long-lasting and hygienic in the food and beverage industry. The increasing demand for stainless steel from the oil & gas and chemical industry is boosting the demand for stainless steel forgings industrial segment.

                                  Stainless Steel Forgings Market Segment Analysis – By Geography

                                  North America region held the largest share in the stainless steel forgings market in 2020 up to 36%. The oil & gas industry is flourishing in the region, which is accelerating the demand for stainless steel forging in the region. For instance, Annual crude oil production in the United States hit a new high of 12.23 million barrels per day (b/d) in 2019, up 1.24 million b/d from 2018. According to the US Energy Information Administration, monthly crude oil production in the United States averaged 12.86 million b/d in November 2019, the highest monthly crude oil production in US history (EIA). In 2019, new projects in the Offshore Federal Gulf of Mexico (US-controlled waters in the Gulf of Mexico) helped boost production in the region. In 2019, oil and gas companies launched seven new projects. The Offshore Federal Gulf of Mexico’s crude oil production elevated by 126,000 barrels per day in 2019, ensuing in the area’s highest annual average production of 1.88 million barrels per day. This growth in the North American oil & gas sector is set to accelerate the demand for stainless steel forgings in the region, thereby driving the market growth.

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                                  Stainless Steel Forgings Market Drivers

                                  Increasing Automobile Production in Various Regions

                                  Stainless steel forging is often preferred to produce critical components such as connecting rods, control arm, rocker arm, crankshaft, camshaft, tie rod end, steering knuckle, and more for automotive application. Automotive components made of stainless steel forging are more durable than those made of cast or machined steel, owing to which it is a preferred option. The production of automobiles is increasing globally. For instance, according to the Organisation Internationale des Constructeurs d’Automobiles (OICA), Taiwan’s production of light commercial vehicles increased by 2.6 percent from 55,896 in 2019 to 57,362 in 2020. In 2018, Africa produced 776,967 passenger cars, which increased to 787,287 in 2019, representing a 1.3 percent increase. According to the Japan Automobile Manufacturers Association (JAMA), car production in Japan increased in November from 6,67,462 in October to 6,90,311. It is anticipated that with a gradual increase in automobile production there will an upsurge in the demand for stainless steel forgings to manufacture various automotive components, which as a result will drive the market.

                                  Flourishing Building and Construction Sector

                                  Stainless steel forging is used in the building and construction industry to construct parts for outdoor equipment that needs to withstand harsh environments. Stainless steel forgings are used in a variety of off-highway and heavy construction equipment applications due to their strength, toughness, machinability, and cost. Stainless steel forgings are used for shafts, spindles, bearing holders, ball joints, gears, sprockets, levers, axle beams, wheel hubs, rollers, yokes, and other construction applications, in addition to engine and transmission parts. The building and construction projects have been increasing in various regions. For instance, in India, the Ministry of Road Transport and Highways has set a target of increasing the national highway to 2 lakh km by 2022. In October 2020, the Government of Burkina Faso awarded a EUR 122 million (US$139.3 million) contract for the construction of Lot 2A of the new International Airport of Ouagadougou-Donsin. The ‘Infrastructure Investment Program’ of Australia’s federal government is expected to provide $57.5 billion in infrastructure funding between 2026 and 2027. Thus, increasing building and construction will require more construction equipment, which will act as a driver for the stainless steel forgings market during the forecast period.

                                  Stainless Steel Forgings Market Challenges

                                  Disadvantages Associated with Stainless Steel Forgings

                                  There are also some disadvantages to using stainless steel as a forging material of choice. Some disadvantages associated with stainless steel are its high cost, fabrication handling ability, difficulty in welding, stainless steel gets distorted if works below the required temperature, huge safety requirement as the workers need to work near the temperature of more than 2000 degrees centigrade, finishing challenges, and more. These disadvantages associated with stainless steel forgings are a significant impediment to the market growth of Stainless Steel Forgings.

                                  Stainless Steel Forgings Market Landscape

                                  Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the stainless steel forgings market. Stainless steel forgings market top companies are:

                                  All Metals & Forge Group

                                  LLC, Wichard, Inc.

                                  Ellwood Closed Die Group

                                  ISGEC Heavy Engineering Ltd.

                                  Bourdon Forge Company, Inc.

                                  Tarunsika Inc.

                                  Precision Castparts Corporation

                                  Keystone Forging Co.

                                  Sintex A/S

                                  PSM Industries, Inc.

                                  Harsh Steel Trade Pvt Ltd, and others.

                                  Acquisitions/Technology/Product Launches

                                  In May 2021, Auto components major Bharat Forge Ltd has fully acquired a group company that will buy stressed Sanghvi Forging & Engineering Ltd under the bankruptcy process.

                                  Key Takeaways

                                  North America dominates the stainless steel forgings market, owing to the prevalence of strict government regulation regarding CO2 emission in Europe, which is forcing the consumers to gradually shift towards eco-friendly options.

                                  Expansion in the construction industry coupled with advanced features of stainless steel forgings such as excellent inherent forge ability, higher ductility, cryogenic toughness, high corrosion resistance, and high heat resistance are some of the factors that are boosting the market growth.

                                  Furthermore, the demand for stainless steel forgings in the energy sector is expected to rise as the number of grid installations in developing countries increases.

                                  However, the availability of substitute materials such as aluminum is expected to act as a restraint for the industry.

                                  Related Reports:

                                  A. Steel Fabrication Market

                                  https://www.industryarc.com/Report/18235/steel-fabrication-market-research-report-analysis.html

                                  B. Steel Market

                                  https://www.industryarc.com/Report/18764/steel-market

                                  For more Chemicals and Materials Market reports, please click here

                                  About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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