Duplex Stainless Steel - Global Market Outlook (2017-2026
According to Stratistics MRC, the Global Duplex Stainless Steel Market is accounted for $2.53 billion in 2017 and is expected to reach $4.56 billion by 2026 growing at a CAGR of 6.8% during the forecast period. Some of the key factors influencing the market growth include increasing demand for duplex stainless steel from various end-use industries, such as chemical, oil & gas, pulp & paper, desalination, energy and construction, growing steel industry. However, the rising cost of raw materials used to manufacture duplex stainless steel is restricting the market growth.
Duplex stainless steel is twice as strong as the ferric stainless steel and regular austenitic steels. Duplex stainless steel offers excellence resistant to corrosion and high mechanical strength ensuring more uptime than the carbon steels and the conventional steels.
Among product form, the tubes segment has significant growth during the forecast period, owing to the growing use of duplex stainless steel based tubes in offshore oil & gas exploration and production, heat exchangers in the chemical industry, and in hydraulic and instrumentation applications in the marine industry.
By Geography, Asia-Pacific is the most promising market for duplex stainless steels and is projected to remain the same in the coming years as well. Continuously increasing the production of the manufacturing sector to cater domestic requirements for high-quality products and rising number of export activities in the region are the factors leading to an increased demand for duplex stainless steel in the region.
Some of the key players in global duplex stainless steel market are AK Steel Holding Corporation, Nippon Steel & Sumikin Stainless Steel Corporation , Carpenter Technology Corporation, Outokumpu OYJ, Daido Steel Co. Ltd., Allegheny Technologies Incorporated, Tata Steel, Thyssenkrupp AG, Sandvik Materials Technology AB, Voestalpine AG, Arcelormittal S.A., Posco Group, Jindal Steel & Power Ltd, Acerinox S.A. and Nippon Yakin Kogyo Co. Ltd.
Product Forms Covered:
• Welding Wires
• Pumps & Valves
• Rebar & Mesh
• Fittings & Flanges
• Other Product Forms
• Super & Hyper Duplex
• Lean Duplex
End Users Covered:
• Desalination Industry
• Construction Industry
• Oil & Gas Industry
• Pulp & Paper
• Chemical Industry
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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