Which Stainless Steel Products Are Worth The Money?
Stainless steel is a high-tech, high-priced material that can be used for a wide variety of products, from cooking utensils and cutting boards to car parts and knives.
But for many consumers, stainless steel is becoming a headache.
According to a survey from consumer research firm NPD Group, stainless is the least popular of the five most common metals, down 10 percent from 2015, but it still accounts for over 40 percent of the market.
And while stainless steel has been the most popular material for decades, the market has been on a steep decline.
As Quartz points out, the number of people buying stainless steel plummeted from just under 3 million in 2013 to just under 1.2 million in 2016, while the number selling it has fallen from about 1.3 million to just over 900,000.
So why is it becoming a problem for some manufacturers?
The industry seems to be on a collision course with technology, which is becoming increasingly connected to the world around us.
As the popularity of connected devices like the Apple Watch, Google Glass, and other smartwatches, and home automation, has increased, so too have demand for the material, which has become a necessity for manufacturers to keep up with growing demand.
A growing number of manufacturers are turning to cheaper stainless steel for their products.
In the past few years, stainless has become one of the most widely used materials in home appliances.
Some manufacturers, like Häagen-Dazs, are using it in their kitchens to help them keep their kitchen clean.
And many brands are using stainless in their food, including brands like Panera Bread, Panera, and Whole Foods Market.
But as Quartz points to, stainless isn’t a good investment for the average consumer.
According of NPD, a whopping 83 percent of stainless steel products were sold in 2016 in the U.S. and Canada, which makes it less than a third of the amount of stainless available in the United Kingdom.
And despite the increase in demand for stainless, the price of stainless has been steadily dropping over the years.
According in a report from Bloomberg, the cost of stainless rose from $3.15 per pound in 2013, to $2.99 per pound last year.
But the market for stainless steel dropped even more last year as the industry faced a glut of raw materials.
As Bloomberg notes, the industry has experienced a glut in materials in recent years, and that’s led to prices dropping, meaning the price per pound of a stainless steel unit has fallen, from $2 in 2013.
So for some consumers, the plunge in prices is too much to bear.
According NPD’s study, some companies have started using lower-grade stainless as a substitute for stainless to boost their margins.
But even with the higher prices, stainless remains one of its priciest materials.
And according to Quartz, NPD found that a quarter of all stainless steel used in the marketplace in 2016 is being used to make “cheap food.”
That means that for every dollar a product is sold for, a company spends $10 to $15 on the material.
It’s not clear how many products are sold that are stainless steel and are made using cheaper materials.
But according to NPD researchers, the demand for cheap stainless has made the material more expensive than it once was.
In a recent report from the American Institute of Architects, the steel industry predicted that it will cost $15 per ton of stainless in 2025 to produce one metric ton.
And as Quartz notes, in 2017, the average price of a metric ton of steel increased by 8 percent.
As for the people who are using these products, NMP said it doesn’t know the exact number of customers, but that the industry is seeing a lot of demand for these products.
NMP’s chief economist David Lebowitz told Quartz that there is a lot going on in the market, and this is one of those factors that has pushed the price up.
For the first time in many years, the stainless steel market is starting to attract more and more customers, he said.
“That’s really what we’re seeing with this new boom in stainless.”
If you’re looking for more stories like this one, check out Quartz’s sister publication, Quartzmagazine.