Outokumpu, the world's largest stainless steel company, expects global consumption of stainless steel to rise 3% YoY this year, with growth in the Asia Pacific region even more pronounced at 6%.
Outokumpu recently held a two-day brand experience in London, attracting more than 700 people, including customers, partners and analysts worldwide. At the event, Outokumpu pointed out that although the stainless steel market in Europe is still sluggish, the rest of the world is in relatively good shape. In China, along with the accelerating pace of urbanization, the various infrastructures required for municipal construction have also entered a period of rapid development one after another, and the durable stainless steel has reached an unprecedented breadth in the Chinese market.
From an industry standpoint, Outokumpu expects the global automotive market to grow 2% YoY this year. In 2014, the global automotive market will further improve, with an expected 4% YoY increase. In addition, the concept of sustainable development also puts forward higher requirements on the environmental protection and other advanced properties of materials, which also makes the demand for high-performance stainless steel in the fields of new energy equipment construction, green building and clean household equipment greatly increased.（FROM TERADA）
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