Global Duplex Stainless Steel Market was valued US$ 2.9 Bn in 2019 and is expected to reach US$ 4.3 Bn by 2027, at CAGR of 5.05% during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Increasing demand for global duplex stainless steel market from various end-use industries, including the growing construction and oil & gas industries, and increasing cost of raw materials used to manufacture stainless are among the factors driving the growth of the global duplex stainless steel market.
The corrosion resistance, tensile strength and durability of global duplex stainless steel market. 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 carbon steels and conventional steels. Furthermore, increasing demand for duplex stainless steel market.
Based on end-use industry segment, the growth of the oil & gas industry segment is estimated to hold the largest market share during forecast period. Over the past few decades, corrosive conditions in the oil & gas Industry have steadily grown in severity. The offshore oil industry repeatedly pushes oil exploration to greater depths, which leads to higher pressure conditions and harsher environments. Various grades of global duplex stainless steel market are used in oil & gas industry for their improved corrosion and stress resistance.
On the basis of product forms segment, the tubes segment estimated to hold largest market share during forecast period. The growth of this segment can be attributed to the growing use of global duplex stainless steel market based tubes in offshore oil & gas exploration and production, heat exchangers in chemical industry, and in hydraulic and instrumentation applications in marine industry.
In terms of region, The Asia-Pacific duplex stainless steel market is estimated to grow at the highest CAGR during forecast period. The region is a major consumer of duplex stainless steel, which are used in varied end-use industries, such as automotive, food, chemical process, and energy, among others. To meet this increasing demand, top manufacturers from the U.S. and Europe are now focusing on the Asia-Pacific region to expand their businesses. Furthermore, top market players of steels are also headquartered in this region.
The global duplex stainless steel market is extremely fragmented, with the presence of a large number of players across different regions. M & A, expansions, new product launches, partnerships, joint ventures and agreements are the various growth strategies implemented by major companies operating in the global duplex stainless steel market.
This report offers an overview of the market trends, drivers, and challenges with respect to the global duplex stainless steel market. It also provides a detailed overview of the market across five regions, namely, Asia-Pacific, Europe, North America, Middle East & Africa, and South America. The report categorizes the global duplex stainless steel market based on grade, product form, end-use industry, and region. A detailed analysis of leading players, along with key growth strategies implemented by them, is also covered in the report.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global Duplex Stainless Steel market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global duplex stainless steel market.
Scope of the Global Duplex Stainless Steel Market
Global Duplex Stainless Steel Market, By Grade
• Lean Duplex
• Super Duplex
Global Duplex Stainless Steel Market, By End Use Industry
• Oil & Gas Industry
• Desalination Industry
• Chemical Industry
• Pulp & Paper
• Construction Industry
Global Duplex Stainless Steel Market, By Product Form
• Pumps & Valves
• Fittings & Flanges
• Welding Wires
• Rebar & Mesh
Global Duplex Stainless Steel Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Duplex Stainless Steel Market
• Outokumpu OYJ
• Tata Steel
• Arcelormittal S.A.
• Nippon Steel & Sumikin Stainless Steel Corporation
• Sandvik Materials Technology AB
• Posco Group
• Acerinox S.A.
• Allegheny Technologies Incorporated
• Jindal Steel & Power Ltd
• Daido Steel Co. Ltd.
• Nippon Yakin Kogyo Co. Ltd.
• AK Steel Holding Corporation
• Thyssenkrupp AG
• Voestalpine AG
• Carpenter Technology Corporation
• Sandmeyer Steel Company
• Rolled Alloys Inc.
• Valbruna Stainless Inc.
• Cogne Acciai Speciali Spa
• H. Butting GmbH & Co. Kg
• Foroni S.P.A.
• Taiyuan Iron and Steel (Group) Co., Ltd. (Tisco)
• Ambica Steels
• Sanyo Special Steel Co. Ltd
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