Dublin, May 07, 2019 (GLOBE NEWSWIRE) -- The "Global Duplex Stainless Steel Market By Grade, By Product Form, By End Use Industry, By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global duplex stainless steel market is forecast to exhibit a CAGR of over 4% during 2019-2024, growing from $2.8 billion in 2018 to $3.6 billion by 2024, owing to the corrosion resistance, tensile strength and durability of duplex stainless steel.
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 carbon steels and conventional steels.
Moreover, the increasing demand for duplex stainless steel from various end-use industries, such as chemical, oil & gas, pulp & paper, desalination, energy and construction is likely to drive the demand for duplex stainless steel during the forecast period.
In terms of the end-use industry, the global duplex stainless steel market has been categorized into chemical, oil & gas, desalination, construction and pulp & paper among others. Among the end-use industries, the oil & gas category is expected to account for a significant portion of the global market during the forecast period due to increasing use of duplex stainless steel based products in oil & gas exploration and production activities.
The Asia-Pacific market for duplex stainless steel emerged as the leading market in 2018. The region is a major consumer of duplex stainless steel. The growth of the Asia-Pacific duplex stainless steel market can be attributed to the increasing demand from the chemical and paper industries.
The demand for duplex stainless steel is increasing in various countries, such as China, Japan, South Korea and India. To meet this growing demand, top manufacturers from Europe and US are now focusing on the Asia-Pacific region to expand their businesses. Also, top market players of the steel industry are headquartered in the Asia-Pacific region, owing to which the region is also anticipated to witness a steady growth during the forecast period.
The global duplex stainless steel market is highly fragmented, with the presence of a large number of players across different regions. Mergers & acquisitions, expansions, new product launches, partnerships, joint ventures and agreements are the various growth strategies adopted by major companies operating in the global duplex stainless steel market.
Some of the major companies operating in the global duplex stainless steel market are Tata Steel Limited, Outokumpu OYJ, Arcelormittal S.A., Nippon Steel & Sumikin Stainless Steel Corporation, Thyssenkrupp AG, among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study
- To analyze and forecast the global duplex stainless steel market size.
- To forecast the global duplex stainless steel market based on grade, product form, end-use industry and regional distribution.
- To identify drivers and challenges for the global duplex stainless steel market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global duplex stainless steel market.
- To conduct the pricing analysis for the global duplex stainless steel market.
- To identify and analyze the profile of leading players operating in the global duplex stainless steel market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors considered while selecting a supplier
4.2. Product awareness and applicability & usage analysis
4.3. Challenges/issues faced post purchase
4.4. Unmet needs
5. Global Duplex Stainless Steel Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Grade (Duplex; Lean Duplex; Super & Hyper Duplex)
5.2.2. By Product Form (Tubes; Pumps & Valves; Fittings & Flanges; Welding Wires; Rebar & Mesh; Others)
5.2.3. By End Use Industry (Oil & Gas; Desalination; Chemical; Construction; Pulp & Paper; Others)
5.2.4. By Region (Asia-Pacific; North America; Middle East & Africa; Europe; South America)
5.2.5. By Company (2018)
5.3. Market Attractiveness Index (By Grade; By Product Form; By End Use Industry; By Region)
6. Asia-Pacific Duplex Stainless Steel Market Outlook
7. North America Duplex Stainless Steel Market Outlook
8. Middle East & Africa Duplex Stainless Steel Market Outlook
9. Europe Duplex Stainless Steel Market Outlook
10. South America Duplex Stainless Steel Market Outlook
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Basic Details
13.2.2. Financials (As reported)
13.2.3. Supply Chain Analysis
13.2.4. Key Market Focus and Geographical Presence
13.2.5. Planned Investments
13.2.6. Pricing of Target Products
13.2.7. Market positioning
13.3. Global Players Profiled (Leading Companies)
13.3.1 Tata Steel
13.3.2 Outokumpu OYJ
13.3.3 Sandvik Materials Technology
13.3.4 Arcelormittal S.A.
13.3.5 Jindal Steel & Power Ltd.
13.3.6 POSCO
13.3.7 Nippon Steel & Sumikin Stainless Steel Corporation
13.3.8 Thyssenkrupp AG
13.3.9 Kobelco Steel Tube Co. Ltd.
13.3.10 Rolled Alloys
(Note: The companies list can be customized based on the client requirements)
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/jtnvee