What is the difference between 304 and 316 stainless steel?

Stainless steel is a well-known and most commonly used metal for tubing development due to its versatile chemical composition and properties. Stainless steel is available in a variety of grades, materials and specifications to meet all industrial needs. SS 304 is one of the most widely used non-magnetic and austenitic stainless steels, suitable for the manufacture of all types of piping. 304 stainless steel tubing and 316 stainless steel tubing are available in various forms such as seamless, welded and flanges.

304 stainless steel and its use
Type 304 stainless steel, with its chromium-nickel and low carbon content, is the most versatile and widely used of the austenitic stainless steels. Its alloys are all modifications of the austenitic alloy with 18% chromium and 8% nickel.
Type 304 has proven to be oxidation and corrosion resistant and durable.
Type 304 stainless steel tubing is used in corrosion resistant electrical enclosures, automotive mouldings and trim, wheel covers, kitchen appliances, hose clamps, exhaust manifolds, stainless steel hardware, storage tanks, pressure vessels and piping.
316 stainless steel and its uses
Type 316 stainless steel tubing is an austenitic chromium-nickel stainless and heat-resistant steel with superior corrosion resistance compared to other chromium-nickel steels when exposed to many types of chemical corrosives such as seawater, salt solutions and the like.
Type 316 SS alloy tubing contains molybdenum, giving it greater resistance to chemical attack than Type 304. Type 316 is durable, easy to fabricate, clean, weld and finish. It is much more resistant to solutions of sulphuric acid, chlorides, bromides, iodides and fatty acids at high temperatures.
SS containing molybdenum is required in the manufacture of certain pharmaceuticals to avoid excessive metallic contamination. The bottom line is that 316 stainless steels containing molybdenum are required in the manufacture of certain pharmaceuticals to avoid excessive metal contamination.
Applications of 304 & 316 Stainless Steel
Duplex stainless steel serves many different applications in these industry categories:

Chemical Process
Petrochemical
Oil & Gas
Pharmaceutical
Geothermal
Seawater
Water Desalination
LNG (Liquefied Natural Gas)
Biomass
Mining
Utilities
Nuclear power
Solar Power