The “Duplex Stainless Steel Market – Growth, Trends, and Forecast (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The market for duplex stainless steel is expected to grow at 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, amongst others.
Large construction projects such as bridges, wind turbines, and storage tanks need to long last without any effect of corrosion. So, many companies are preferring Duplex SS in major construction projects for better quality.
Corrosion can reduce strength, decrease surface properties and resistance to fluids. Overall, it decreases the mechanical and chemical properties of certain materials.
Oil & chemical processing, shipbuilding, offshore industries have been consuming duplex SS in their applications such as pipes, valves, ship walls, evaporators, heat exchangers, decks, etc.
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.
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Applications for Corrosion Resistance
4.1.2 Growing Demand from Oil and Gas Industries
4.2.1 Limited Heat Resistance
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porters 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 MARKET SEGMENTATION
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
5.2.3 Paper and Pulp
5.2.4 Chemical Processing
5.2.5 Other End-user Industries
5.3.2 North America
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
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
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Demand from Construction Industry
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/vpkf2j
View source version on businesswire.com: https://www.businesswire.com/news/home/20201013005636/en/
Laura Wood, Senior Press Manager
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