According to Stratistics MRC data, the global duplex stainless steel market was worth US$2.53 billion in 2017 and is expected to reach US$4.56 billion by 2026, growing at a compound annual growth rate of 6.8% during the forecast period. Some of the key factors affecting market growth include chemical, oil and gas, pulp and paper, seawater desalination, energy and construction, and the growing steel industry and the increasing demand for duplex stainless steel in various end-use industries. However, the rising cost of raw materials used to manufacture duplex stainless steel has limited market growth.
The strength of duplex stainless steel is twice that of ferric stainless steel and ordinary austenitic steel. Duplex stainless steel has excellent corrosion resistance and high mechanical strength, ensuring longer uptime than carbon steel and traditional steel.
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In the product form, due to the increasing use of duplex stainless steel pipes in offshore oil and gas exploration and production, heat exchangers in the chemical industry, and hydraulic and instrumentation applications, there will be significant pipe sections during the forecast period. increase. Marine industry.
Divided by region, the Asia-Pacific region is the most promising market for duplex stainless steel, and it is expected to remain unchanged in the next few years. In order to meet the domestic demand for high-quality products, the continuous increase in manufacturing output and the increase in export activities in the region are the factors that have led to the increase in the demand for duplex stainless steel in the region.
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Some of the major players in the global duplex stainless steel market are AK Steel Holding Corporation, Nippon Steel & Sumikin Stainless Steel Company, Carpenter Technology Corporation, Outokumpu OYJ, Daido Steel Co. Ltd., Allegheny Technologies Incorporated, Tata Steel, Thyssenkrupp AG, Sandvik Materials Technology AB, Voestalpine AG, Arcelormittal SA, Posco Group, Jindal Steel & Power Ltd, Acerinox SA and Nippon Yakin Kogyo Co. Ltd.
Product forms covered: • Welding wire • Pumps and valves • Steel bars and meshes • Pipes • Fittings and flanges • Other product forms
Levels covered: • Duplex • Super and Super Duplex • Lean Duplex
End users include: • Desalination industry • Construction industry • Oil and gas industry • Pulp and paper industry • Chemical industry • Other end users
Covered areas: • North America o United States o Canada o Mexico • Europe o Germany o United Kingdom o Italy o France o Spain o Rest of Europe o Asia Pacific o Japan o China o India o Australia o New Zealand o South Korea o Rest of Asia Pacific o South America o Argentina o Brazil o Chile o Rest of South America • Middle East and Africa o Saudi Arabia o United Arab Emirates o Qatar o South Africa o Rest of the Middle East and Africa
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What our report provides: – Regional and country-level market share evaluations – Market share analysis of top industry players – Strategic recommendations for new entrants – All mentioned market segments, sub-segments and Market forecasts for at least 9 years of market segments Regional market – Market trends (drivers, constraints, opportunities, threats, challenges, investment opportunities and recommendations) – Strategic recommendations for key business areas based on market estimates – Map key common trends Competitive landscape-company analysis and detailed strategy, financial status and latest developments-supply chain trends reflecting the latest technological advancements
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