Stainless steel forgings are one of the key components with high demand in the international market. In the Brazilian market, with the development of the economy and the introduction of new sustainable development policies, the market size and prospects of stainless steel forgings are expected to expand further.
According to data from the Brazilian Institute of Geography and Statistics, the total output value of the forging industry in Brazil in 2019 was 30 billion reais, of which the output value of stainless steel forgings was about 8 billion reais, accounting for about 27% of the total. According to a stainless steel forging market report, the compound annual growth rate (CAGR) of the Brazilian stainless steel forging market from 2020 to 2027 is expected to reach 7.2%, and the overall market size is expected to gradually expand.
In addition, the Brazilian government has also introduced a series of sustainable development policies to promote the development of its domestic industry. According to the guidelines of the “2030 Agenda for Sustainable Development”, the Brazilian government aims to establish a low-carbon and competitive industrial system to promote economic sustainability. In this context, the Brazilian government will increase investment in energy-saving, environmental protection, and high-efficiency production, while attracting more foreign investment into the domestic market. This will further promote the rapid growth of the Brazilian stainless steel forging industry.
For example, Falquim Forjaria, a stainless steel forging company located in São Paulo state, has announced that they are expanding their production line and introducing new production equipment to meet the increasing demand for orders. The company stated that due to the sustainable development policies promoted by the Brazilian government, more and more companies are focusing on environmental protection and energy efficiency. In this trend, high-performance components such as stainless steel forgings will be more widely applied.
In conclusion, with the rapid development of the Brazilian economy and more investment in sustainable development, the prospects for the stainless steel forging market will be filled with hope. For enterprises that want to enter the Brazilian market, they should combine Brazilian national policies and market demand characteristics, deepen industrial transformation and upgrading, improve product quality and technical content, in order to adapt to the rapidly changing market.
