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Duplex Stainless Steel Pipe Market is poised to achieve continuing growth During Forecast Period 2016-2027
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Market Research Future (MRFR) predicts the global duplex stainless steel pipe market to reach a market size of USD 2,516.0 million at a CAGR of 4.66% from 2021 to 2028 (forecast period).
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Duplex stainless steel pipe has a two-phase microstructure made up of ferritic and austenitic stainless steel grains. Duplex pipes have a variety of properties, including increased corrosion resistance and strength. There are four types of duplex stainless pipe: lean duplex, standard duplex, super duplex, and hyper duplex. It is widely used in the offshore oil and gas, chemical process, chemical tankers/shipbuilding, desalination/water treatment, and pulp and paper industries. During the projected period, the global duplex stainless steel pipes market is predicted to expand significantly. The cost-effectiveness and efficiency of duplex stainless steel pipe are projected to stimulate demand. Duplex stainless steel pipes are mostly employed in exploration and production. As technology advances in oil and gas exploration, the demand for corrosive and cracking resistant duplex grade products grows.
The variable raw material prices, on the other hand, are projected to limit the expansion of the global duplex stainless steel pipes market.
Furthermore, rising investments in the oil and gas industry are likely to generate opportunities for participants in the worldwide stainless steel pipe market.
COVID-19 Impact on the Global Duplex Stainless Steel Pipe Market
The introduction of a range of regulations by governments worldwide to deal with the COVID-19 outbreak, like a complete shutdown of manufacturing units, has been found to impact the development of the global duplex stainless steel pipe market.
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The global duplex stainless steel pipe market has been segmented based on product type, manufacturing type, thickness, outer diameter, and application.
By product type, the global duplex stainless steel pipes market has been segmented into hyper duplex, super duplex, standard duplex, and lean duplex. The hyper duplex segment is expected to lead the market as it is an advanced version of duplex steel and shows the highest corrosion pitting resistance and highest strength than other duplex steel pipes.
By manufacturing type, the global duplex stainless steel pipe market has been segmented into seamless, welded, and others. The seamless segment is expected to rule the market as it has a wide variety of applications in the oil & gas, petrochemical, chemical, shipbuilding, pulp & paper industry, and wastewater treatment applications.
By thickness, the global stainless steel pipe market has been segmented into 5.0–10 mm, 0.3–2.5 mm, and 2.5–5.0 mm. The 5.0–10 mm segment is projected to dominate the market.
By outer diameter, the global duplex stainless steel pipe market has been segmented into 10 to 16 Inch, 1.5 to 3 Inch, and 3 to 10 Inch. The 10 to 16-inch segment is expected to lead the global market during the assessment period.
By application, the global stainless steel pipe market has been segmented into offshore oil & gas, desalination/water treatment, chemical process industry, chemical tankers/shipbuilding, and pulp & paper. The offshore oil & gas segment is the main segment for duplex stainless-steel pipes due to its high durability and high resistive properties like resistance to pitting, stress corrosion cracking, and crevice corrosion.
Region-specific analysis of the global duplex stainless steel pipe market spans across North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
The Asia Pacific is expected to lead the duplex stainless steel pipe market during the study period, followed by Europe, because demand for oil and gas in the Asia Pacific region is increasing rapidly, pushing demand for exploration and production activities offshore oil fields. Furthermore, the majority of Asia Pacific countries are major importers of oil and gas, which drives demand for inter-country pipelines in the region to ensure a continuous and stable supply of oil and gas in the region.
Notable players in the global duplex stainless steel pipe market are ArcelorMittal (Luxembourg), TUBACEX S.A. (Spain), Nippon Steel Corporation (Japan), Sandvik AB (Sweden), JFE Steel Corporation (Japan), POSCO (South Korea), Zhejiang Tsinghshan Steel Pipe Co. Ltd (China), Jiuli (China), Tenaris S.A. (Luxembourg), H.Butting Gmbh & Co.KG (Germany), Outokumpu (Finland), Metline Industries (India), Zheijang Debang Steel Co. Ltd (China), and Wenzhou Zheheng Steel Industry Co. Ltd (China).
The global duplex stainless steel pipe market is set to reach a market size of USD 2,516.0 million at a CAGR of 4.66% from 2021 to 2028 (forecast period). Increased building and construction activities, as well as an increase in oil and gas exploration, are predicted to drive global demand for duplex stainless steel pipe.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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