Duplex Stainless Steel Market to be Worth $4.8 Billion by 2027 at 4.4% Growth Rate – IndustryARC

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An increase in bridge construction projects will drive the market growth of the duplex stainless steel market.

HYDERABAD, TELANGANA, INDIA, September 28, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Duplex Stainless Steel Market size is estimated at US$4.8 billion by 2027 and growing at a CAGR of approximately 4.4% from 2022 to 2027. Duplex stainless steel belonging to the stainless steel family is a combination of two of the main types of alloys, i.e. austenite and ferrite, with a 50/50 mix of the two. Moreover, the upcoming bridge construction projects will also boost the duplex stainless steel industry during the forecast period. The report offers a comprehensive analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the full summary of the report:

Key points to remember:

1. The growth of oil and gas industry projects in the Asia-Pacific region will drive the market. Indeed, there will be a demand for high quality ferrous alloys like duplex stainless steel for use in pipelines, tubes, exploration wells and others which will drive the decorative laminates market.

2. Rising growth in bridge construction projects that require highly durable steel materials like duplex stainless steel will drive the market demand.

3. Growth of super duplex stainless steel due to an increase in pipeline construction and other oil and gas constructions will drive the duplex stainless steel market.

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Segmental analysis:

1. By product type, super duplex stainless steel is expected to account for the largest global market share in 2021 and is expected to grow by more than 3% during the forecast period. Indeed, super duplex stainless steel alloys with a combination of austenite and ferrite are twice as strong as conventional austenitic stainless steels.

2. By end-use industry, the oil and gas industry is expected to account for the largest share of the global market in 2021 and is expected to grow by more than 3.5% during the forecast period. This is due to the increase in oil and gas projects during the forecast period.

3. The Barossa gas field project in northern Australia is currently under construction and consists of six subsea production wells, field facilities and a gas export pipeline connected to the pipeline system Bayu-Undan in Darwin which supplies gas to Darwin LNG. Due to these huge projects involving, the construction of gas pipelines, production wells and other equipment will involve more risk of corrosion and thus increase the demand for the duplex stainless steel market.

Competitive Landscape:

Top 5 Duplex Stainless Steel Industry Players are –

1. Tata Steel

2.Posco Group

3. Arcelormittal S.A.

4. Daido Steel Co.Ltd.

5. Outokumpu OYJ

Click the following link to purchase Duplex Stainless Steel Market Report:

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IndustryARC is one of the world’s leading market research and consulting companies. It produces over 500 unique market reports each year. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your favorite market report from the website, but also get personalized support on specific reports.

Related reports:

A. Stainless Steel Forgings Market

B. Automotive Stainless Steel Tube Market

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