Duplex Stainless Steel Market – Industry Trends

Market Definition :

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 the carbon steels and the conventional steels.
Currently, duplex stainless steel market is growing owing to the factors such as low price, and great corrosion resistance. Duplex stainless steel is mainly used in the industries such as paper, construction, chemical and oil & gas.

Market Analysis :

The Global Duplex Stainless Steel Market accounted for USD 2.80 billion in 2016 and is projected to grow at a CAGR of 4.7% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Major Market Drivers:
  • Increasing demand for duplex stainless steel from industries such as chemical, construction
  • Growing steel industry
  • Increasing offshore spending
Market Restraint:
  • Increasing cost of the raw materials

Segmentation: Duplex Stainless Steel Market

The duplex stainless steel market is segmented on the basis of product form into tubes, pumps and valves, fittings & flanges rebar & mesh, welding wires and others. Tubes is expected to grow at the highest CAGR in the forecast period.
On the basis of grade the market is segmented into duplex, lean duplex and super duplex.

Competitors:  Duplex Stainless Steel

Some of the major players in the duplex stainless steel market include AK Steel Corporation, Acerinox, ATI, 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, Ambica Steels ltd., Valbruna Stainless Inc., Foroni S.P.A., Erasteel and many more.
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