Duplex Stainless Steel: Market Introduction
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.
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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.
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.
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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.
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
- Super-duplex
- Lean duplex
- Hyper-duplex
On the basis of product form, the global market for duplex stainless steel is categorized as:
- Tubes
- Pumps & Valves
- Fittings & Flanges
- Rebar & Mesh
- Welding Wires
- Others
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
- Automobile
- Others
Based on the region, the global market for duplex stainless steel is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
The Global Duplex Stainless Steel Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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