Strong economic growth of developing countries has led to demands for natural resources, for example some metals, energy and fresh water; as a result some of these resources are becoming increasingly scarce. Higher standards of living across the globe combined with an urgent need for new technological solutions have created global megatrends that drive the stainless steel demand.
Urbanization and standards of living
Stainless steel demand is linked to higher standards of living. Due to the increasing trend of urbanization, the need for stainless steel applications in the white goods sector, such as cutlery, kitchen sinks and washing machines, is great. In product sectors close to the end user, Outokumpu's key strength is the ability to produce material with a low environmental impact. Extremely low energy requirements and a good emission profile satisfies the conscious customer's demand for sustainably produced material.
New energy infrastructure and radical changes in current energy production, towards renewable energy sources, creates opportunities for stainless steels. Requirements on material properties are strict, placing higher demands on product properties. Environmental protection and more resource efficient solutions also drive the demand for stainless steel.
Hygiene and clean water
Stainless steel is a material that satisfies high standards of hygiene, which is why commercial kitchens, for example, around the world are built from stainless steel. With population growth, both food and potable water supplies are becoming more important. Outokumpu's high quality products allow our clients to offer more sustainable solutions to satisfy basic human needs in a more efficient way.