Data Bridge Market Research analyses that the duplex stainless steel market, which was USD 3.5 billion in 2022, would rocket up to USD 4.47 billion by 2030 and is expected to undergo a CAGR of 3.2% during the forecast period. “Oil and Gas” dominates the duplex stainless steel market's end-user industry segment due to improved corrosion and stress resistance.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Market Analysis and Insights
Duplex stainless steel is more robust than regular steel. Duplex stainless steel offers greater resistance to corrosion and high mechanical strength. Duplex stainless steel is a combination of both ferritic and austenitic grades, thus possessing greater properties. The growth and expansion of the various end-user verticals is the root cause fuelling the development of the duplex stainless steel market. Advantageous properties offered by duplex stainless steel are another factor responsible for propelling growth in the duplex stainless steel market value. Rising demand for duplex stainless steel by the building and construction industry owing to the rising urbanization and growth in construction activities, especially in the developing economies, will further accelerate the market growth rate. Rising industrialization will also directly and positively impact the demand for recycled glass globally. However, fluctuations in the prices of raw materials will pose a significant challenge to the growth of the duplex stainless steel market. Duplex stainless steel can only be used at limited temperatures, and this will further hamper the duplex stainless steel market growth rate.
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Duplex Stainless Steel Market Scope
The duplex stainless steel market is segmented on the basis of grade, product form, and end user industry. The growth amongst the different segments helps you attain the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
Grade
- Duplex
- Lean Duplex
- Super and Hyper Duplex
Product Form
- Tubes Pumps, and Valves
- Fittings and Flanges
- Welding Wires
- Rebar
- Mesh
- Others
End User Industry
- Oil and Gas
- Desalination
- Chemical
- Construction
- Pulp and Paper
- Others
Duplex Stainless Steel Market Country Level Analysis
The duplex stainless steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Duplex stainless steel market.
China is expected to dominate in Asia-Pacific market due to an increase in per capita income and easy availability of finances and loans. The U.K. is projected to dominate the Europe Duplex Stainless Steel market due to the ease of disassembling, refurbishment and relocation.
Competitive Landscape and Duplex Stainless Steel Market Share Analysis
The global Duplex Stainless Steel market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the global Duplex Stainless Steel market.
Some of the major players operating in the duplex stainless steel market are:
- COLUMBUS STAINLESS (PTY) LTD (South Africa)
- Sandmeyer Steel Company (U.S.)
- Jindal Steel & Power Limited (India)
- Aalco Metals Limited (U.K.)
- Special Steel Components Corporation (Japan)
- Penn Stainless (U.S.)
- NIPPON STEEL CORPORATION (Japan)
- Outokumpu (Finland)
- MegaMex (U.S.)
- Sandvik AB (Sweden)
- Citizen Metals Pvt Ltd. (India)
- Special Piping Materials (U.K.)
- Rolled Alloys, Inc. (U.S.)
- Tata Steel (India)
- ArcelorMittal (Luxembourg)
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