NEW YORK, March 16, 2018 (GLOBE NEWSWIRE) -- 316 stainless steel is austenitic steel. Chemical composition of 316 type steel contains 16-18% Chromium, 10-14% Nickel and 2-3 % Molybdenum. This added Molybdenum improves corrosion resistance, pitting in Chloride ion solutions resistance, and strength at higher temperatures. It particularly improves corrosion resistance against sulfuric, hydrochloric, acetic, formic and tartaric acids and as well as acid sulphates and alkaline chlorides. These are useful in pharmaceuticals to prevent extra metallic contamination. 316 stainless steel has excellent physical properties. It is very tough and durable. Its corrosion resistance is much better than 304. It does not get harden with heat treatments. It can be easily formed and drawn. It possesses weldability.

Based on product type, 316 stainless steel is divided into 3 different types i.e. 316, 316L and 316H. 316L contains low amount of carbon in order to improve sensitization. It is best suited for heavy gauge components. 316H steel contains higher amount of carbon and therefore it can withstand at higher temperatures. Due to these properties 316 steel is used in various applications. It is used in construction of exhaust manifolds and heat exchangers. It is used to manufacture jet engine parts, food processing equipment, industrial equipment, laboratory equipment, digesters, tanks, evaporators, pulp, paper and textile processing equipment, parts exposed to marine atmospheres, tubing and chemical containers. The top players of this market are thyssenkrupp, Arcelor, POSCO, YUSCO, Acerinox, Nippon Steel Corp., Fortune Hold Group, AK Steel, Penn Stainless, Sandmeyer Steel, Rolled Metal Products, NKS and Atlas Steels.

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316 Stainless Steel Market : By Product Type

• 316
• 316L
• 316H

316 Stainless Steel Market : End Users/ Applications

• Food Processing Equipment
• Laboratory Equipment
• Architectural Panelling
• Chemical Containers
• Industrial Equipment

316 Stainless Steel Market : Regional Analysis

• North America
• Europe
• China
• Japan
• Southeast Asia
• India
• Africa
• Latin America

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316 Stainless Steel Market: Companies Covered

• thyssenkrupp
• Arcelor
• POSCO
• YUSCO
• Acerinox
• Nippon Steel Corp.
• Fortune Hold Group
• AK Steel
• Penn Stainless
• Sandmeyer Steel
• Rolled Metal Products
• NKS
• Atlas Steels

316 Stainless Steel Market report delivers comprehensive analysis of :

• Market Forecast for 2018-26
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis.
• End user/application Analysis

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