Apart from this, there is a
huge playing field for stainless steel in fuel tanks and bus bodies. Owing to
India’s long coast line, stainless steel is the best choice for making bus body
frames and panels, ensuring longevity in these highly corrosive environments.
Jindal Stainless has successfully developed and deployed stainless steel fuel
tanks for commercial vehicles. The metal’s fire resistance (ability to
withstand temperatures in excess of 900 degrees centigrade) and cost
effectiveness due to it being light weight results in saving fuel costs. All
major global bus body manufacturers, such as Volvo, Scania, Optare trust
stainless steel, primarily to reduce weight and prolong battery life.
According to the company, the
Indian passenger vehicle manufacturing industry became the fourth largest in
the world, with sale increasing to 4.02 million units in 2017. Overall, auto
sector consumes nearly 2 lakh tones of stainless steel in a year. This is
pegged to grow at a rate of 15% per annum, providing enough scope of growth to
domestic producers of stainless steel.
Speaking about the potential
of stainless steel usage in the automotive industry Vijay Sharma, Head Sales,
Jindal Stainless noted, “The Indian automobile sector is rising fast with an
annual growth rate of 15% registered in FY18. Against this backdrop, Jindal
Stainless registered an even stronger growth of 25% in this sector in the same
financial year, by virtue of its continued investment in innovation and a focus
on import substitution. The transformation of the Indian automobile industry is
fascinating, considering that auto majors are reducing costs while maintaining
the same quality as their international counterparts. While developed nations
deploy 19% stainless steel in motor vehicles, developing countries consume it
to the tune of 5%”. Currently, Jindal Stainless contributes around 60% to the
country’s requirement of stainless steel in automotive sector.”
Stainless steel is the ideal
metal for meeting the demands of the automotive industry given its resistance
to heat, pressure, and ageing. The aesthetic appeal of stainless steel is
another added advantage. The high strength-to-weight ratio and improved
slide-ability, higher weldability, and corrosion resistance, even in wet
abrasive applications, make it an optimum choice for usage in this sector. It
is used in vital components such as vehicle exhaust, disk brakes, catalytic
converters and specialized parts of diesel turbochargers.
Jindal Stainless has a broad
and trusted clientele of major brands such as Honda Group, Yamaha, Bajaj, Ashok
Leyland, Tata Motors, Toyota and others.