Stainless Steel Flakes Market Size, Share, Growth, And Industry Analysis, By Type (Standard Grade Leaf, Fine Grade Leaf), By Application (Maintenance Coatings, Powder Coatings, Architectural Coatings, Cookware Coatings), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Stainless Steel Flakes Market Report Overview

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global stainless steel flakes market size expanded rapidly in 2022 and the market is projected to grow substantially by 2031, exhibiting a prodigious CAGR during the forecast period.

Flakes are small, intermittent internal fissures found in wrought metals that are caused by the strains brought on by localized transformation and the reduced solubility of hydrogen during cooling following hot working.

On a fracture surface, flakes show as bright silvery spots; on an etched surface, they appear as brief, irregular fissures. Fish eyes, shatter fractures, and snowflakes are further names for flakes. Internal fissures known as flakes can be noticed in massive forgings. During forging, hydrogen accumulated during melting and casting segregates at internal voids and discontinuities and results in these flaws. Fisheyes are bright spots that get their name from the way they appear on fracture surfaces, usually in weldments. During fusion welding, hydrogen enters the metal, and further straining results in the formation of this flaw. Little fractures appear in containment vessels made of steel when subjected to extremely high hydrogen pressures or micro-perforations through which fluids may leak.

COVID-19 Impact: Pandemic decreased the market demand

The production of stainless steel in melting shops around the world has been steadily increasing over the six years leading up to 2020. When compared to the same period in 2019, melting shop output during the first six months of this year has significantly decreased (>9%). The COVID-19 epidemic had the most percentage effects on this industry's production in Europe, the USA, and Asia (excluding China). The regional actual and forecast stainless steel consumption variations by product group illustrate how the current pandemic is currently affecting the region's demand for stainless steel goods as well as how it is anticipated to do so in the future.

Latest Trends

"High performance protective coating material to fuel market growth"

High-performance protective coatings and aesthetic applications use stainless steel flake materials. Benefits include: High resistance to corrosion caused by salt spray, alkaline cleaners, detergents, and acid spots, superior hardness and abrasion resistance compared to conventional paints, No tarnish or chalking. Stainless steel's appearance and high specular reflectivity. Also it won't produce hydrogen in water-borne coatings, preventing can lids from springing up due to gassing.

Stainless Steel Flakes Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into standard grade leaf, fine grade leaf.

• By Application Analysis

Based on application, the market can be divided into maintenance coatings, powder coatings, architectural coatings, cookware coatings.

Driving Factors

"Fast growth in automobile industry to propel market demand"

The consumption of the product will be fueled by the automotive industry's explosive rise. The corrosion, high strength, and heat resistance qualities of this metal are suitable. This makes it an ideal option for many automobile components, such as hose clamps and seatbelt springs. The International Steel Organization predicts that in the future, stainless steel will be used frequently in catalytic converters, fuel tanks, chassis, bodywork, and suspension.

"Acceptance of New Products to Aid Market Growth "

Also, the acceptance of new products will be aided by expanding innovations in electric vehicles and the automobile industry's use of technology. As a result, growing product demand from automakers will propel the stainless steel market's expansion. This factor will propel the Stainless Steel Flakes Market growth.

Restraining Factors

"Access to Alternative Goods Aluminum and Carbon Steel, for Example, to Impact Market Development"

Adoption of the product is hampered by the availability of substitutes including aluminum, galvanized steel, carbon steel, and engineered plastics. In contrast to these choices, it is also hefty and not water-resistant. This limits its consumption in areas where the items' light weight is required. Such factors limit the market and hinder the acceptance of products across a variety of industries, such as consumer goods, engineering, and electronics.

Stainless Steel Flakes Market Regional Insights

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"Growing demand in Aisa Pacific anticipated to boost market expansion"

Due to the rapidly growing defense, machinery, automotive, and shipbuilding sectors in nations like India, China, South Korea, and Japan, the Asia Pacific region dominated the regional segment and held the biggest volume share of approximately 74.0% in 2021. Infrastructure and energy-related foreign direct investment are projected to present market suppliers with opportunities.

Key Industry Players

"Adoption of innovative Strategies by Key Players Influencing Market Development"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• AMETEK
• Novamet
• Toyal Toyo Aluminium
• ALTANA
• SEZER

Report Coverage

This report examines an understanding of the stainless steel flakes market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.