ENABLING SMART PROCUREMENT

  • Published in: Sep 2017
  • Pages: 84
  • SKU: IRCMSTR14540

Global Stainless Steel Category - Procurement Market Intelligence Report

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SpendEdge’s procurement market research report on the global stainless steel market is an all-inclusive guide enabling procurement professionals to make smart purchasing decisions. This report provides a strategic analysis of the supply markets, negotiation strategies, factors influencing purchasing decisions, procurement best practices, cost modeling, pricing strategies, and the supplier landscape.

Key Features of Report

 

Supply Market Insights
Procurement Best Practices
Cost Saving Opportunities
Pricing Models
Negotiation Strategies
Category Risk Analysis
Key Supplier Analysis
Supplier Capability Matrix

 

Stainless Steel - Category Spend Analysis

 

According to analysts at SpendEdge, one of the key growth drivers for the stainless steel market is the growing demand from the transport sector. The transport sector is one of the largest consumers of stainless steel with stainless steel being used in several components. At present, AHSS, a type of stainless steel grade, is widely being used in almost every vehicle design and constitutes more than 50% of today's vehicles. It makes vehicles lightweight and optimizes vehicle designs for enhancing safety and improve fuel economy.

Stainless steel is also widely used in the railway sector. Railcar operators are increasingly using austenitic stainless steel over carbon steels in the manufacturing of rolling stock. Reduced weight, high energy absorption on impact, high corrosion resistance, and excellent fire resistance are the primary reasons for preferring stainless steel. AISI 410, 304, and 201 are some of the widely used grades in the railway sector, which can be reused easily as well. The aerospace industry is also increasingly using stainless steel as it can withstand corrosion and is resistant to high-temperature environments. For instance, AISI 304 and 304L are extensively used to manufacture fuel cars and AISI 321 and 316 for manufacturing exhaust components and high-temperature structural components

Stainless Steel - Procurement Best Practices

 

One of the procurement best practices for buyers is to comprehensively design price brackets in contracts to effectively manage changes in prices. Price volatility and high import duties can lead to significant fluctuations in the pricing of stainless steel. As a result, buyers need to incorporate favorable terms in contracts to negate the effect of fluctuations in prices. Additionally, buyers must incorporate appropriate price collars into their contracts to offset the high volatility. If the right price bracket is not chosen, buyers might end up paying more. Buyers should rely on statistical data of recent price deviations to fix a price collar to avoid these situations.

Stainless Steel - Procurement Challenges

 

According to this procurement research report, one of the key procurement challenges faced by buyers is the lack of knowledge on surface finishes. Surface finish plays a key role in enhancing corrosion resistance. However, buyers might not be adept at understanding the kind of surface finish required to ensure maximum corrosion resistance, thereby, resulting in higher costs for rectification or new material procurement. As a result, buyers must consult specialists to understand the suitable type of surface finish.

 

Get unlimited access to all our reports. Our Insights platform provides ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Start your 14-day trial now

 

SpendEdge also offers customization of this report to meet your exact requirements. Please contact us at enquiry@spendedge.com

Read less

Key Features of Report

 

Supply Market Insights
Procurement Best Practices
Cost Saving Opportunities
Pricing Models
Negotiation Strategies
Category Risk Analysis
Key Supplier Analysis
Supplier Capability Matrix

 

Stainless Steel - Category Spend Analysis

 

According to analysts at SpendEdge, one of the key growth drivers for the stainless steel market is the growing demand from the transport sector. The transport sector is one of the largest consumers of stainless steel with stainless steel being used in several components. At present, AHSS, a type of stainless steel grade, is widely being used in almost every vehicle design and constitutes more than 50% of today's vehicles. It makes vehicles lightweight and optimizes vehicle designs for enhancing safety and improve fuel economy.

Stainless steel is also widely used in the railway sector. Railcar operators are increasingly using austenitic stainless steel over carbon steels in the manufacturing of rolling stock. Reduced weight, high energy absorption on impact, high corrosion resistance, and excellent fire resistance are the primary reasons for preferring stainless steel. AISI 410, 304, and 201 are some of the widely used grades in the railway sector, which can be reused easily as well. The aerospace industry is also increasingly using stainless steel as it can withstand corrosion and is resistant to high-temperature environments. For instance, AISI 304 and 304L are extensively used to manufacture fuel cars and AISI 321 and 316 for manufacturing exhaust components and high-temperature structural components

Stainless Steel - Procurement Best Practices

 

One of the procurement best practices for buyers is to comprehensively design price brackets in contracts to effectively manage changes in prices. Price volatility and high import duties can lead to significant fluctuations in the pricing of stainless steel. As a result, buyers need to incorporate favorable terms in contracts to negate the effect of fluctuations in prices. Additionally, buyers must incorporate appropriate price collars into their contracts to offset the high volatility. If the right price bracket is not chosen, buyers might end up paying more. Buyers should rely on statistical data of recent price deviations to fix a price collar to avoid these situations.

Stainless Steel - Procurement Challenges

 

According to this procurement research report, one of the key procurement challenges faced by buyers is the lack of knowledge on surface finishes. Surface finish plays a key role in enhancing corrosion resistance. However, buyers might not be adept at understanding the kind of surface finish required to ensure maximum corrosion resistance, thereby, resulting in higher costs for rectification or new material procurement. As a result, buyers must consult specialists to understand the suitable type of surface finish.

 

Get unlimited access to all our reports. Our Insights platform provides ready-to-use procurement research reports, latest supplier news, innovation landscape, markets insights, supplier tracking, and much more at the click of a button. Start your 14-day trial now

 

SpendEdge also offers customization of this report to meet your exact requirements. Please contact us at enquiry@spendedge.com

PART 1: SUMMARY

  • Research Objectives and Methodology
  • Category Definition

PART 2: CATEGORY AT A GLANCE

  • Market Overview
  • Category Maturity by Regions
  • Preferred Procurement Models and Major Service Providers
  • Cost-saving Opportunities
  • Major Category Requirements
  • Major Procurement Pain Points

PART 3: MARKET INSIGHTS

  • Category Spend Analysis
  • Demand-Supply Shifts
  • Regional Demand-Supply Snapshot
  • Key Market Developments
  • Regional Impact of Trends
  • Key Category Growth Drivers and Corresponding Regional Impacts
  • Major Category Growth Constraints and Corresponding Regional Impacts
  • Procurement Best Practices
  • History of Innovation
  • Key Current Technological Innovations
  • Major Regulatory Frameworks
  • Strategic Sustainability Practices
  • Porter’s Five Forces
  • SWOT Analysis
  • PESTLE Analysis

PART 4: SUPPLY MARKET INSIGHTS

  • Supplier Operational Capability Matrix
  • Regional Supplier Operational Capability Matrix
  • Supplier Functional Capability Matrix
  • Regional Supplier Functional Capability Matrix
  • Key Clients
  • Supplier Cost Breakup
  • Supplier Positioning Matrix
  • Supplier Selection Criteria

PART 5: PRICING INSIGHTS

  • Pricing Models Snapshot
  • Pricing Model Pros and Cons
  • Indicative Pricing
  • Category Negotiation Strategies

PART 6: CATEGORY ESSENTIALS

  • SLA Terms
  • Supplier Evaluation Criteria
  • Category Risk Analysis
  • Category Sourcing Evolution Matrix

PART 7: TOP FIVE SUPPLIERS

  • Tsingshan           
  • TISCO   
  • Outokumpu      
  • POSCO 
  • Acerinox

PART 8: APPENDIX

  • Glossary
  • Key Notes
  • About Us
Read less

PART 1: SUMMARY

  • Research Objectives and Methodology
  • Category Definition

PART 2: CATEGORY AT A GLANCE

  • Market Overview
  • Category Maturity by Regions
  • Preferred Procurement Models and Major Service Providers
  • Cost-saving Opportunities
  • Major Category Requirements
  • Major Procurement Pain Points

PART 3: MARKET INSIGHTS

  • Category Spend Analysis
  • Demand-Supply Shifts
  • Regional Demand-Supply Snapshot
  • Key Market Developments
  • Regional Impact of Trends
  • Key Category Growth Drivers and Corresponding Regional Impacts
  • Major Category Growth Constraints and Corresponding Regional Impacts
  • Procurement Best Practices
  • History of Innovation
  • Key Current Technological Innovations
  • Major Regulatory Frameworks
  • Strategic Sustainability Practices
  • Porter’s Five Forces
  • SWOT Analysis
  • PESTLE Analysis

PART 4: SUPPLY MARKET INSIGHTS

  • Supplier Operational Capability Matrix
  • Regional Supplier Operational Capability Matrix
  • Supplier Functional Capability Matrix
  • Regional Supplier Functional Capability Matrix
  • Key Clients
  • Supplier Cost Breakup
  • Supplier Positioning Matrix
  • Supplier Selection Criteria

PART 5: PRICING INSIGHTS

  • Pricing Models Snapshot
  • Pricing Model Pros and Cons
  • Indicative Pricing
  • Category Negotiation Strategies

PART 6: CATEGORY ESSENTIALS

  • SLA Terms
  • Supplier Evaluation Criteria
  • Category Risk Analysis
  • Category Sourcing Evolution Matrix

PART 7: TOP FIVE SUPPLIERS

  • Tsingshan           
  • TISCO   
  • Outokumpu      
  • POSCO 
  • Acerinox

PART 8: APPENDIX

  • Glossary
  • Key Notes
  • About Us

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