The allowable stress is defined as the material failure stress (a property of the material) divided by a factor of safety greater than one.

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Understanding the Allowable stresses
What is Stress-Strain curve?
What are Tensile stress & Yield Stress w.r.t Stress-strain diagram
Allowable stress w.r.t. Tensile stress & Yield Stress
Understanding the Factor of Safety in terms of Allowable stress
How allowable stress plays an important role while calculating the pipe wall thickness
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