Chemical Composition:

301 Grade: 301 grade stainless steel is typically characterized by low carbon content (maximum 0.15%) and high chromium content (16-18%). This combination provides corrosion resistance to the steel.

304 Grade: 304 grade stainless steel has a similar chemical composition to 301 grade but with a higher nickel content (8-10%). As a result, 304 grade offers higher corrosion resistance and is often preferred in applications like the food industry for its hygienic properties.

Mechanical Properties:

301 Grade: 301 grade stainless steel generally has higher tensile strength and is more formable. Therefore, it is commonly used in the production of wire, sheets, and various metal parts.

304 Grade: 304 grade stainless steel tends to perform better in terms of corrosion resistance and at low temperatures. Hence, it is commonly used in applications such as food processing equipment, chemical tanks, and applications involving contact with water.

Applications:

301 Grade: Due to its strength and formability, 301 grade stainless steel is used in industries like automotive, electronics, and the production of wire and springs.

304 Grade: 304 grade stainless steel is preferred in industries such as food processing, pharmaceutical manufacturing, medical equipment, and marine applications because of its corrosion resistance and hygienic properties.

These differences require the use of each grade in different applications. The choice of which steel grade to use depends on the specific requirements and environmental conditions of a given application.