Annual Report 2010 - Outokumpu

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amount of stainless steel consumed in the catering & appliances cluster grew by more than 15%. Consumers in
developed markets also felt positive enough to continue purchasing consumer goods.
After declining by 6% in 2009, stainless steel consumption within the process & resources cluster increased by 16% in
2010. Growth in stainless steel consumption in the chemical, petrochemical and energy cluster increased by 12% in
2010 following the 11% decline in 2009. Consumption in these two clusters was adversely affected by the continuing
tight conditions in financial markets which hampered approvals for project investments.
Long-term prospects for stainless steel demand remain robust. Key global megatrends in urbanisation, modernisation
and increased mobility, combined with growing global demand for energy, food and water will ensure the continuing
growth of stainless steel consumption in the future. SMR estimates indicate that the average annual growth in world-wide
stainless steel consumption over the 2009–2020 period will be 5.8% (CAGR). As a leading producer of stainless steel,
Outokumpu is well positioned to capitalise on the world's growing need for this material.
Sources: ISSF, SMR and Outokumpu
Outokumpu Annual Report 2010 – Business – Market review