403 stainless steel is classified as a type of martensitic stainless steel with a lower carbon content than other martensitic stainless steels like 410 and 420. It is also known as UNS S40300 or DIN 1.4024.

Being magnetic and displaying good corrosion resistance, 403 stainless steel is relatively easy to machine and fabricate. With moderate strength and hardness, it is well-suited for applications that require wear resistance, such as pump parts, valves, and bearings. Additionally, 403 stainless steel finds use in the production of kitchen utensils, cutlery, and decorative items.

Compared to other stainless steel grades, one of the benefits of 403 stainless steel is its affordability, which makes it a popular choice across multiple industries. However, it is worth noting that 403 stainless steel is not recommended for applications that require high resistance to corrosion or elevated temperature strength. In such cases, other stainless steels like 304 or 316 may be more suitable.