The study is based on the results of a global survey conducted with 70 senior decision-makers from companies in sectors with the highest stainless steel consumption such as energy, automotive, construction, infrastructure, and consumer goods. In 2024, these companies collectively generated revenues of USD 430 billion.
Tariffs halt orders
The survey was carried out following the tariffs imposed in May 2025, within the first months of the new U.S. administration. According to the findings, one in three companies halted or postponed their stainless steel orders due to rising tariffs. This has raised concerns about the future of major global infrastructure projects.
More than 50% of respondents said they are reassessing their current supply strategies, while 30% reported switching suppliers in response to changing trade conditions.
Regional differences stand out
The study also highlighted differences in regional strategies. Companies in North America responded more reactively to market fluctuations by opting for long-term price fixing. European companies, on the other hand, preferred to build up inventories to protect against future disruptions.
“Policymakers must act”
Outokumpu President and CEO Kati ter Horst stated:
“Tariffs and geopolitical shifts are not only unsettling markets but also forcing many industries to rethink their supply strategies. Ongoing uncertainty and changing regulations are causing serious disruptions. Policymakers around the world must act to safeguard vital infrastructure projects and prevent further delays.”
Ter Horst also emphasized that the combination of political, environmental, and economic pressures will make stainless steel play an even more critical role in the built environment in the future.
Demand growth to continue
While caution dominates in the short term, two-thirds of survey participants expect stainless steel consumption to rise over the next five years. One-third believe the increase will be “significant.” Even within the next 12 months, nearly half of respondents forecast higher consumption.
Expanding role of steel
The medium- to long-term growth in demand stems from the increasing use of stainless steel beyond its traditional sectors. Climate change, rapid urbanization, and stricter environmental regulations are driving demand for durable and recyclable materials. As extreme heat, flooding, and other severe weather events put pressure on infrastructure, the corrosion resistance and durability of stainless steel are becoming increasingly valuable—from bridges and coastal defenses to tunnels and skyscrapers.
Rising demand in defense and aerospace
Security concerns and growing military investments are also supporting stainless steel demand. The EU’s EUR 800 billion ReArm Europe plan will boost the transition to low-carbon military infrastructure, increasing the need for durable stainless steel. From reusable rockets to energy-efficient surveillance systems, stainless steel stands out with its durability, heat resistance, and sustainability.
Survey scope
The survey, conducted by Kairos Future, included single-choice, open-ended, and Likert scale questions. With a 70% response rate, 49 completed responses were collected. The geographic distribution of participants was 41% Europe, 24% U.S., and 35% global, providing a balanced perspective on regional differences.
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