Duplex stainless steel market is expected to grow with impressive growth rate, backed by its physical properties and increasing application usage. High strength, greater stress corrosion cracking resistance capability and price stability has made duplex stainless steel as best choice for numerous end-industry users like oil & gas, chemical industry, paper & pulp industry and construction industry.
Furthermore, mounting demand for high strength stainless steel tanks in chemical industry to create numerous opportunities for duplex stainless steel market over the forecast period. Government projects associated with power generation especially from nuclear power plants are creating additional demand for duplex stainless steel equipment like tubes and tanks. Duplex stainless steel products also find their usage for welding due to its physical properties which are combination of the austenitic and the ferritic grade.
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However, outbreak of COVID-19 has impacted demand for duplex stainless at global result as aftereffect of nation-wide lockdown and halted construction and mining activity across the globe. Cutting down of production capacity for crude oil and natural gas over these period has shown significant impact on demand for duplex stainless steel products. Market for duplex stainless steel is expected to show positive growth trajectory with resuming of production activity and mounting demand by oil & gas companies to increase their holding capacity.
Duplex Stainless Steel Tubes Market to Experience Ascending Growth
Duplex stainless steel are classified according to physical properties and composition based on one among four categories as standard duplex, super-duplex, lean duplex and hyper-duplex. Hyper duplex stainless steel is seen as best choice for oil & gas as well as chemical industry, backed by its physical properties such as strength and superior corrosion resistance compared to other grades. These hyper duplex stainless steel products are manufactured with respect to end-use industry and its application usage.
Development in chemical industry has facilitated growth opportunities for duplex stainless steel tubes in order to store and contain gases and chemicals in production unit. Furthermore, mounting demand for petroleum products has resulted in rising deep-water off-shore crude oil production activity, which in turn has raised demand for duplex stainless steel tubes to supply crude oil across various geographical locations.
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Segmentation Analysis of Global Duplex Stainless Steel Market
Duplex Stainless Steel Market is bifurcated into four major categories: grade, product form, end-use industry and region.
On the basis of grade, the global market for duplex stainless steel is divided into:
- Standard duplex
- Lean duplex
On the basis of product form, the global market for duplex stainless steel is categorized as:
- Pumps & Valves
- Fittings & Flanges
- Rebar & Mesh
- Welding Wires
On the basis of end-use industry, the global market for duplex stainless steel is divided into:
- Oil & Gas Industry
- Desalination Industry
- Chemical Industry
- Pulp & Paper Industry
- Construction Industry
Based on the region, the global market for duplex stainless steel is segmented as:
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
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Duplex Stainless Steel Market: Regional Outlook
Asia Pacific region dominates the production of duplex stainless steel followed by North America. China and U.S. are considered as leading manufacturer, backed by advancing oil and gas industry and requirement of pipeline laydown across country for ensuring supply of oil and gas. Furthermore, mounting natural gas industry in china has also facilitated numerous opportunities for duplex stainless steel market over the forecast period. Environmental conditions with respect to geographic location of country impact demand for duplex stainless steel product especially for duplex stainless steel pipes. Countries prone to natural calamities like earthquake and tsunami prefers to lay down their gases and oil supply through underground installed pipes. High strength, good toughness and high resistance to stress corrosion cracking has made duplex stainless steel pipes as best choice in these regions.
Key players of Duplex Stainless Steel Market
Key players in duplex stainless steel market include Outokumpu, Sandvik, ArcelorMittal, ThyssenKrupp, Metline Industries, Tata Steel, Sosta and Tubacex. Tata Steel has invested huge investment for new product development strategy with respect to duplex stainless steel market.
With aim of developing high resistance to pitting corrosion and high physical strength by varying its chemical composition. Other global players like Outokumpu OYJ and Arcelormittal S.A. have announced taking steps to scale up production capacity to meet mounting demand across the globe. With increasing opportunities and growing future scope will increase the competitiveness of market, adding number of duplex stainless steel manufacturers across the globe.
The research report presents a comprehensive assessment of the duplex stainless steel market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. This duplex stainless steel market report provides analysis and information, according to market segments such as grade, product form, end-use industry and region.
The Global Duplex Stainless Steel Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Global Duplex Stainless Steel Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, RoE)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, ANZ, Rest of Oceania)
- MEA (GCC Countries, South Africa, Turkey, Rest of MEA)
The duplex stainless steel market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The global duplex stainless steel market report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The global duplex stainless steel market report also maps the qualitative impact of various market factors on market segments and geographies.
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