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The Duplex Stainless Steel Market is likely to witness an impressive CAGR of 6.7% during the forecast period. The prime factor that is contributing to the demand for Duplex Stainless Steel is the increasing demand for Duplex Stainless Steel in various industries.
This report on the Duplex Stainless Steel Market has been put together covering various companies of the industry from different geographies. The study is a perfect blend of qualitative and quantitative research highlighting vital market developments, challenges and competition that the industry might face, along with opportunities and trends available in the Duplex Stainless Steel Market. The report intends to present a thorough analysis of the Duplex Stainless Steel Market and provide cutting-edge market intelligence to help decision makers undertake a sound investment evaluation. Besides, the report also classifies and analyses the emerging trends along with major growth drivers.
Duplex Stainless Steel Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges act as extrinsic factors affecting the market. The report aims at answering several key questions concerning the overall profitability in the market.
Few key players operating in the Duplex Stainless Steel Market are-
• 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.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Duplex Stainless Steel Market value and growth drivers over the trend period of 2022-27. According to the report -
Duplex Stainless Steel Market is likely to witness an impressive CAGR of 5.2% during the forecast period. The increasing demand for duplex stainless steel from various end-use industries and its extensive use in oil & gas exploration activities is driving the market globally.
Segment Analysis:
Based on by Grade Type:
Based on the grade type, the market is segmented as duplex, lean duplex, and super duplex. The super duplex segment is estimated to register the highest growth in the coming five years. Owing to its properties such as ability to manage corrosive and high-pressure situations, it is extensively used in oil & gas exploration activities, which in turn, drives the growth of this segment.
Based on Regional:
In terms of regions, Asia-Pacific was the largest market for duplex stainless steel in 2018. Asia-Pacific is also expected to lead its dominance in the coming five years. China and India are the growth engines of the region. The market is sustained by the increasing use of duplex stainless steel in various end-use industries. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.
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