Duplex Stainless Steel Market to experience a healthy CAGR of 5.2%
February 18, 2020
Duplex Stainless Steel Market Overview:
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.
Report Overview:
This report, from Stratview Research, studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Duplex Stainless Steel Market Segment Insights:
Super Duplex Segment: The growth engine
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.
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https://www.stratviewresearch.com/toc/734/duplex-stainless-steel-market.html
Dominance of: The Oil & Gas Segment
Based on the end-use industry type, the market is segmented as oil & gas, desalination, chemical, pulp & paper, construction, and others. The oil & gas segment dominated the market in 2018. The growth is attributed to the increasing oil & gas exploration activities and the use of duplex stainless steel in various end-use industries.
A highly/moderately/fragment consolidated Market
Some of the duplex stainless steel manufacturers 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, and Indal Steel & Power Ltd.
Regional Hegemony of Asia-Pacific
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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