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Growing steel industry market growing at a CAGR of 4.7% by 2024 insights shared in detailed report

Growing steel industry market growing at a CAGR of 4.7% by 2024 insights shared in detailed report

Duplex stainless steels growing at a CAGR of 4.7% during the forecast period of 2017 to 2024. Duplex stainless steels are called “duplex” because they have a two-phase microstructure consisting of grains of ferritic and austenitic stainless steel.

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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.

Global Duplex Stainless Steel Market, By Product Form (Tubes, Pumps & Valves, Fittings & Flanges, Rebar & Mesh, Welding Wires, Others); End-User (Oil & Gas Industry, Desalination Industry, Chemical Industry,  Pulp And Paper Industry, Construction Industry & Others); By Grade(duplex, lean duplex, super duplex) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

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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.

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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.

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Market Segmentation:

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 end user, the market is segmented into oil and gas industry, Desalination industry, chemical industry, pulp and paper industry, construction industry and others. Oil and gas industry is further segmented into pipeline, separators, scrubbers, pumps and others.

Desalination industry is further segmented into evaporators and pressure piping. Chemical industry is further segmented into chemical reactors, heat exchanges, pressure vessels, others.

pulp and paper, digestors, reactors & pressure vehicles, others. Construction industry is further segmented into bridges and structural components.

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On the basis of grade the market is segmented into duplex, lean duplex and super duplex.

On the basis of geography, the duplex stainless steel market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

In 2017, Asia-Pacificis expected to dominate the market.

Market Competitors:

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.

Research Methodology:

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models.

Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

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