The global Duplex Stainless Steel Market size is projected to accrue voluminously by 2027 registering a phenomenal CAGR of 4.7% during the review period (2022 to 2027)
Duplex Stainless Steel Market Overview
Duplex stainless steel is stronger than regular steel. Duplex stainless steel offers better resistance to corrosion and high mechanical strength. Duplex stainless steel is a combination of both ferritic and the austenitic grades, thus possessing greater properties. Duplex stainless steels are very corrosion resistant, with high mechanical strength and weldability. Also, because they contain low levels of molybdenum and nickel, such steels are less expensive than other traditional austenitic grades of stainless steel. Duplex stainless steels are extensively used in pulp and paper manufacturing, chemical process plants, marine environments, oil and gas refining, and a variety of other applications. Duplex stainless steel is extensively used in the chemical process industry, oil and gas exploration equipment, transportation equipment, pulp and paper industry, and mining and nuclear plants. Duplex stainless steel is used in these industries in grades such as lean, duplex, and super, as well as forms such as tubes, pumps, and valves. Duplex stainless steel has twice the corrosion resistance and mechanical quality of carbon steels and regular steels, and it is twice as solid as ferric treated steel and ordinary austenitic steels. Progress and expansion of the several end user verticals is the root cause fuelling up the duplex stainless steel market growth rate. Advantageous properties offered by duplex stainless steel are another factor responsible for propelling growth in the duplex stainless steel market value.
In July 2020, SAIL has announced that the company has developed the capability to produce Super Duplex Stainless Steel in SS 32205 grade at its Salem Steel Plant (SSP) based in Tamilnadu, India.
In April 2021, Sandvik AB and its part subsidiary BEAMIT have co-launched super-duplex stainless steel for metal 3D printing. The product offers good corrosion resistance and good mechanical strength.
What are the major Applications, Types and Regions for Duplex Stainless Steel Market?
By Type, it is segmented into
By Applications it is segmented into
Oil & Gas Industry
Pulp & Paper Industry
Duplex Stainless Steel Market Regional Analysis
Asia-Pacific is expected to dominate the global market owing to the extremely developed construction, coupled with the continuous investments done in the region. China hosts a vast construction sector. The developments in the infrastructure, commercial and residential sectors in the past two years have supported the construction sector's progress at large, both in terms of volume and value.
Rest of Europe
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
The Duplex Stainless Steel Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Duplex Stainless Steel Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
What is our Duplex Stainless Steel Market Report Scope?
Forecast Period 2022 to 2027 CAGR
CAGR of 4.7% during the review period (2022 to 2027).
Yes, the report can be customized as per your needs
Key Takeaways from this Duplex Stainless Steel Report
Evaluate Duplex Stainless Steel market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
Analyze the sales and distribution channels across geographies to enhance top-line revenues.
Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Duplex Stainless Steel market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
What is the study period of this market?
The Duplex Stainless Steel Market is studied from 2017 - 2027.
What is the growth rate of Duplex Stainless Steel Market?
The Duplex Stainless Steel Market is growing at a CAGR of 4.7% over the next 5 years.
What regions does this Duplex Stainless Steel Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SUBJECT MATTER EXPERT ADVICE
GLOBAL DUPLEX STAINLESS STEEL MARKETBY TYPES
GLOBAL DUPLEX STAINLESS STEEL MARKET BY APPLICATIONS
INCREASING DEMAND FOR DUPLEX STAINLESS STEEL
STRINGENT ENVIRONMENTAL REGUALTIONS
HIGH COST ON MATERIALS
DUPLEX STAINLESS STEEL GROWTH
APPLICATION OF DUPLEX STAINLESS STEEL
IMPACT OF COVID 19
GLOBAL DUPLEX STAINLESS STEEL MARKET, BY TYPES
GLOBAL DUPLEX STAINLESS STEEL MARKET, BY APPLICATION
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.