Dublin, July 06, 2023 (GLOBE NEWSWIRE) -- The "Global Duplex Stainless Steel Market (2023 Edition): Analysis By Grade (Standard, Lean Duplex, Super), Product Form, End User Industry, By Region, By Country: Market Insights and Forecast (2019-2029)" report has been added to ResearchAndMarkets.com's offering.
The Global Duplex Stainless Steel Market showcased growth at a CAGR of 4.4% during 2019-2022. The market was valued at USD 3.2 Billion in 2022 which is expected to reach USD 9.1 Billion in 2029.
The research report covers a detailed analysis of the regions (Americas, Europe, APAC, Middle East and Africa) and 11 countries (United States, Canada, Brazil, Mexico, Germany, Russia, France, China, Japan, South Korea and India). Additionally, the research report presents data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities and demand forecast.
The research report also assesses growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution. The rising population, as well as the growing urbanization, are driving the Duplex Stainless Steel Market. High scale urbanization and increasing global demand for construction and infrastructure projects facilitate the demand for the Duplex Stainless Steel globally.
The surge in global demand for duplex grade steel is driven by its superior corrosion resistance, high strength, toughness, cost-effectiveness, and increasing adoption in key industrial sectors. As the world continues to prioritize durability, sustainability, and operational efficiency, duplex stainless steels are poised to play a crucial role in meeting the diverse needs of a wide range of applications.
Duplex Grade Steel has witnessed a substantial surge in demand across the Asia Pacific region in recent years. This rise can be attributed to various factors, including rapid infrastructure development, expanding oil and gas industry, robust manufacturing sector, increasing focus on renewable energy, and growing awareness of the benefits offered by this exceptional steel variant.
In addition, Asia Pacific Duplex Stainless Steel Market growth is driven by the rise in demand for stainless steel products in several end-use industries including chemical/petrochemical products, consumer goods, heavy and vehicle transportation, medical items, energy sector.
The huge production of Super Duplex and Duplex stainless steel, research and development activities based on this product, growth of construction activities, and technological advancement are key driving factors for the Asia Pacific market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 290 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.1 Billion |
| Forecasted Market Value (USD) by 2029 | $9.1 Billion |
| Compound Annual Growth Rate | 17.3% |
| Regions Covered | Global |
Scope of the Report
- The report analyses the Duplex Stainless Steel Market by Value (USD Million)
- The report presents the analysis of Duplex Stainless Steel Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029
- The report analyses Duplex Stainless Steel Market by Grade (Standard Duplex, Lean Duplex and Super Duplex)
- The report analyses the Duplex Stainless Steel Market by End User Industry Channel (Construction Industry, Packaging Industry, Manufacturing Industry and Other End User Industries)
- The report analyses Duplex Stainless Steel Market by Product Form (Tubes, Welding Wires, Pumps and Values, Fittings and Flanges, Rebar, Other Product Forms (Bars, Sheet, Rods, Plates, Duplex Steel Coils))
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Grade ,by Product Form, by End User Industry
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
The companies analysed in the report are
- Outokumpu Oyj
- Acerinox S.A.
- Aperam S.A.
- Jindal Stainless
- Nippon Steel Corporation
- Arcelor Mittal
- ThyssenKrupp Group
- Daido Steel Co. Ltd.
- Carpenter Technology Corporation
- Langley Alloys Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/f0rwee
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