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Duplex Stainless Steel Market - Growth, Trends, and Forecast (2020 - 2025)

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  • 120 Pages
  • August 2020
  • Region: Global
  • Mordor Intelligence
  • ID: 5176485
The market for duplex stainless steel is expected to register a CAGR of nearly 5% globally during the forecast period.

Increasing applications for corrosion resistance and growing demand from the oil and gas industry are driving the market growth.

Duplex stainless steel can only be used under limited temperatures, and this factor is expected to hinder the market growth.

Key Market Trends

Growing Demand for Corrosive Resistance Applications

Duplex Stainless Steel (SS) is a microstructure that contains ferritic and austenitic stainless steel, and it has been majorly used for corrosive resistance applications. Duplex Stainless Steel (SS) finds its application in oil and gas, chemical, pulp and paper industries, among others.
  • Large construction projects, such as bridges, wind turbines, and storage tanks need to last long without any effect of corrosion. So, many companies are preferring Duplex SS in major construction projects for better quality.
  • Corrosion can reduce strength and decrease surface properties and resistance to fluids. Overall, it decreases the mechanical and chemical properties of certain materials.
  • Oil and chemical processing, shipbuilding, offshore industries have been consuming duplex SS in their applications, such as pipes, valves, ship walls, evaporators, heat exchangers, and decks.
  • Increasing architectural bridges, growing chemical industries, and rising need for erosion and corrosion resistance in developed regions are expected to drive the market for duplex stainless steel through the years to come.

Asia-Pacific Region to Dominate the Market

Asia-Pacific is expected to dominate the global market owing to the highly developed construction, coupled with the continuous investments done in the region to advance the petrochemical sector through the years.
  • The construction industry has been using duplex stainless steel in various applications such as bridges, large construction decks, film evaporators, and outside architectural pipes.
  • According to the National Bureau of Statistics of China and The Ministry Of Trade and Industry, Singapore, the construction sector in China and Singapore has been witnessing decent growth in recent years.
  • The growing need for such corrosive resistance materials, increasing demand for longlasting structures and components, and continuous growth in industrialization rate are expected to drive the market for duplex SS in the Asia-Pacific region.

Competitive Landscape

The global duplex stainless steel market is fragmented in nature with many players competing in the market. Some of the major companies are Thyssenkrupp AG, Voestalpine AG, Arcelormittal SA, AK Steel Holding, and Daido Steel Co. Ltd, among others.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Applications for Corrosion Resistance
4.1.2 Growing Demand from the Oil and Gas Industries
4.2 Restraints
4.2.1 Limited Heat Resistance
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5.1 Type
5.1.1 Lean Duplex Stainless Steel
5.1.2 Duplex Stainless Steel
5.1.3 Super Duplex Stainless Steel
5.2 End-user Industry
5.2.1 Oil and Gas
5.2.2 Construction
5.2.3 Paper and Pulp
5.2.4 Chemical Processing
5.2.5 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom France Italy Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AK Steel Holding
6.4.2 Arcelormittal SA
6.4.3 Daido Steel Co. Ltd
6.4.4 Jindal Steel and Power
6.4.5 Nippon Yakin Kogyo Co. Ltd
6.4.6 Outokumpu OYJ
6.4.7 Posco Group
6.4.8 SeAH Steel Corporation
6.4.9 Thyssenkrupp AG
6.4.10 Voestalpine AG
7.1 Increasing Demand from Construction Industry
7.2 Other Opportunities

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AK Steel Holding
  • Arcelormittal SA
  • Daido Steel Co. Ltd
  • Jindal Steel and Power
  • Nippon Yakin Kogyo Co. Ltd
  • Outokumpu OYJ
  • Posco Group
  • SeAH Steel Corporation
  • Thyssenkrupp AG
  • Voestalpine AG