Ferritics account for approximately 25% of stainless steel use worldwide. The name arises because these alloys have similar properties to carbon steels when they are bent or cut and, unlike the well-known 304 and 316 austenitic grades, ferritics are strongly attracted to a magnet.
There is a major misconception that ferritic stainless steels are less corrosion resistant than austenitic alloys. On the contrary, for any required level of corrosion resistance (or Pitting Resistance Equivalent [PRE]), you can select a specific stainless steel from either the austenitic or ferritic family depending on the physical properties desired. Another similarity of these two