Duplex Stainless Steel Market Report: Trends, Forecast and Competitive Analysis to 2030

Duplex Stainless Steel Market Report: Trends, Forecast and Competitive Analysis to 2030

Duplex Stainless Steel Trends and Forecast

The future of the global duplex stainless steel market looks promising with opportunities in the oil & gas industry, desalination industry, chemical industry, pulp & paper industry, and construction industry. The global duplex stainless steel market is expected to reach an estimated $3.9 billion by 2030 with a CAGR of 3.0% from 2024 to 2030. The major drivers for this market are increasing oil and gas industry demand and expanding applications for corrosion resistance, expansion of chemical and petrochemical processing, as well as, rising utilization of duplex stainless steel in paper & pulp industry.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Duplex Stainless Steel by Segment

The study includes a forecast for the global duplex stainless steel by grade, product, end use, and region.

Duplex Stainless Steel Market by Grade [Shipment Analysis by Value from 2018 to 2030]:

• Lean Duplex
• Duplex
• Super Duplex

Duplex Stainless Steel Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Tubes
• Pumps & Valves
• Fittings & Flanges
• Rebar & Mesh
• Welding Wires
• Others

Duplex Stainless Steel Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Oil & Gas Industry
• Desalination Industry
• Chemical Industry
• Pulp & Paper Industry
• Construction Industry
• Others

Duplex Stainless Steel Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Duplex Stainless Steel Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies duplex stainless steel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the duplex stainless steel companies profiled in this report include-

• Outokumpu Oyj
• Tata Steel
• Jindal Steel
• ArcelorMittal
• POSCO Group
• Acerinox
• Sandvik Materials Technology
• Allegheny Technologies
• Daido Steel
• Nippon Yakin Kogyo

Duplex Stainless Steel Market Insights

Lucintel forecasts that super duplex is expected to witness the highest growth over the forecast period because it is engineered to withstand harsh corrosive and high pressure environments, and as a result, this grade is commonly utilized in oil and gas exploration operations.

APAC will remain the largest region over the forecast period due to growing industrial activities and infrastructure development in the region.

Features of the Global Duplex Stainless Steel Market

Market Size Estimates: Duplex stainless steel market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Duplex stainless steel market size by grade, product, end use, and region in terms of value ($B).

Regional Analysis: Duplex stainless steel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different grade, product, end use, and regions for the duplex stainless steel market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the duplex stainless steel market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the duplex stainless steel market size?

Answer: The global duplex stainless steel market is expected to reach an estimated $3.9 billion by 2030.

Q2. What is the growth forecast for duplex stainless steel market?

Answer: The global duplex stainless steel market is expected to grow with a CAGR of 3.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the duplex stainless steel market?

Answer: The major drivers for this market are increasing oil and gas industry demand and expanding applications for corrosion resistance, expansion of chemical and petrochemical processing, as well as, rising utilization of duplex stainless steel in paper & pulp industry.

Q4. What are the major segments for duplex stainless steel market?

Answer: The future of the global duplex stainless steel market looks promising with opportunities in the oil & gas industry, desalination industry, chemical industry, pulp & paper industry, and construction industry.

Q5. Who are the key duplex stainless steel market companies?

Answer: Some of the key duplex stainless steel companies are as follows:

• Outokumpu Oyj
• Tata Steel
• Jindal Steel
• ArcelorMittal
• POSCO Group
• Acerinox
• Sandvik Materials Technology
• Allegheny Technologies
• Daido Steel
• Nippon Yakin Kogyo

Q6. Which duplex stainless steel market segment will be the largest in future?

Answer: Lucintel forecasts that super duplex is expected to witness the highest growth over the forecast period because it is engineered to withstand harsh corrosive and high pressure environments, and as a result, this grade is commonly utilized in oil and gas exploration operations.

Q7. In duplex stainless steel market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to growing industrial activities and infrastructure development in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the duplex stainless steel market by grade (lean duplex, duplex, and super duplex), product (tubes, pumps & valves, fittings & flanges, rebar & mesh, welding wires, and others), end use (oil & gas industry, desalination industry, chemical industry, pulp & paper industry, construction industry, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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