Duplex Stainless Steel Market Projected to Reach 3.40 Billion USD by 2021

1. MarketsandMarkets Presents Duplex Stainless Steel Market Projected to Reach 3.40 Billion USD by 2021 https://www.marketsandmarkets.com/Market-Reports/duplex-stainless-steel-market-32316483.html

2. The report "Duplex Stainless Steel Market by Grade (Duplex, Lean Duplex, Super Duplex), Product Form (Tubes, Pumps & Valves, Fittings & Flanges, Welding Wires), End-Use Industry (Oil & Gas, Desalination, Chemical, Pulp & Paper), Region - Global Forecast to 2021", The duplex stainless steel market is projected to grow from USD 2.70 Billion in 2016 to USD 3.40 Billion by 2021, at a CAGR of 4.7% from 2016 to 2021. • Browse 126 market data tables and 60 figures spread through 185 pages and in-depth TOC on "Duplex Stainless Steel Market - Global Forecast to 2021" • Request FREE PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=32316483 • Market Dynamics: • Drivers • Growth of end-use industries in emerging countries • Restraints • Rising cost of raw materials used to manufacture duplex stainless steel • Opportunities • Increase in offshore spending and potential of new oil field discovery • Challenges • Small scale of production compared to overall stainless steel https://www.marketsandmarkets.com/Market-Reports/duplex-stainless-steel-market-32316483.html

3. Scope of the Report: • This research report categorizes the duplex stainless steel market based on grade, product form, end-use industry, and region. The report forecasts revenues as well as analyzes the trends in each of these submarkets. • Duplex Stainless SteelMarket, Based on Grade: • Lean Duplex • Duplex • Super Duplex • Duplex Stainless Steel Market, Based on Product Form: • Tubes • Pumps & Valves • Fittings & Flanges • Rebar & Mesh • Welding Wires • Others • Duplex Stainless Steel Market, By Region: • North America • Europe • Asia-Pacific • Middle East & Africa • South America https://www.marketsandmarkets.com/Market-Reports/duplex-stainless-steel-market-32316483.html

4. Industry Insights: The duplex stainless steel market was valued at USD 2.70 billion in 2016 and is projected to reach USD 3.40 billion by 2021, at a CAGR of 4.7% between 2016 and 2021. Increasing demand for duplex stainless steel from various end-use industries, such as oil & gas, chemical, desalination, pulp & paper, construction, and energy is expected to drive the demand for duplex stainless steel during the forecast period. Among grades, the super duplex segment is projected to grow at the highest CAGR during the forecast period. Super duplex stainless steels are designed to handle extreme corrosive and high pressure situations, and for this reason, this grade is widely used in the oil & gas exploration activities. The growing oil & gas exploration activities are expected to drive the growth of this segment in the forecast period. Request FREE Sample Pages: https://www.marketsandmarkets.com/requestsample.asp?id=32316483 Among product forms, the tubes segment accounted for the largest share of the duplex stainless steel market in 2016, in terms of value. The growth of this segment can be attributed to the growing use of duplex stainless steel based tubes in offshore oil & gas exploration and production, heat exchangers in chemical industry, and in hydraulic and instrumentation applications in marine industry. Based on end-use industry, the oil & gas industry segment led the duplex stainless steel market in 2016. The growth of the oil & gas industry segment can be attributed to the increasing oil & gas exploration activities around the world. Over the past few decades, corrosive conditions in the oil & gas Industry have steadily grown in severity. The offshore oil industry continually pushes oil exploration to greater depths, which leads to higher pressure conditions and harsher environments. Various grades of duplex stainless steel are used in oil & gas industry for their improved corrosion and stress resistance. https://www.marketsandmarkets.com/Market-Reports/duplex-stainless-steel-market-32316483.html

5. Industry Leaders: Key players in the duplex stainless steel market OutokumpuOyj (Finland), Tata Steel (India), Jindal Steel (India), ArcelorMittal S.A. (Luxembourg), POSCO Group (South Korea), Acerinox S.A. (Spain), Sandvik Materials Technology AB (Sweden), Allegheny Technologies Incorporated (U.S.), Daido Steel Co., Ltd. (Japan), Nippon Yakin Kogyo Co Ltd. (Japan), AK Steel Holding Corporation (U.S.), Carpenter Technology Corporation (U.S.), ThyssenKrupp AG (Germany), and Voestalpine AG (Austria), among others. For more Info Visit Our Blog @ https://chemicalsresearchmarket.wordpress.com/Blog Geographical Scenario: The Asia-Pacific region was the largest market for duplex stainless steel in 2016. The region is a major consumer of duplex stainless steel, which are used in varied end-use industries, such as automotive, food, chemical process, and energy, among others. The demand for duplex stainless steel is increasing in various countries, such as Japan, China, India, and South Korea, among others, of the Asia-Pacific region. To meet this growing demand, top manufacturers from the U.S. and Europe are now focusing on the Asia-Pacific region to expand their businesses. Moreover, top market players of steels are also headquartered in this region. The Asia-Pacific duplex stainless steel market is projected to grow at the highest CAGR between 2016 and 2021. https://www.marketsandmarkets.com/Market-Reports/duplex-stainless-steel-market-32316483.html

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