The 201 grade is made from nickel, chromium and manganese. It’s estimated to be 30 percent stronger than 304, plus is cheaper to make and purchase. The downside is that because 201 is stronger, it’s more difficult to form and weld compared to 304. Furthermore, 304 is corrosion-resistant and can be used in just about any application, whereas 201 has limited versatility.
In general, both 201 and 304 are strong, durable and versatile, so they can be used across applications.