Market Research Future experts say that the global duplex stainless steel pipe market would reach a constant growth level and achieve a market size of USD 2,516.0 Million by 2025, at a CAGR of 4.66%, in the forecast period. Global Duplex Stainless Steel Pipe Market: Information by Product Type (Hyper Duplex, Standard Duplex, Super Duplex and Lean Duplex), Manufacturing Type (Seamless, Welded and others), Thickness (5.0–10 Mm, 2.5–5.0 Mm And 0.3–2.5 Mm), Outer Diameter (10 to 16 Inch, 3 to 10 Inch and 1.5 to 3 Inch), Application (Offshore Oil & Gas, Chemical Process Industry, Chemical Tankers/Shipbuilding, Desalination/Water Treatment and Pulp & Paper) and Region [North America, Europe, Asia-Pacific (APAC), South America and the Middle East & Africa] – Forecast to 2025
Market Key Trends & Challenges
The market is quite gradual in its growth but has a prosperous future in the coming years. The market is getting influenced by many factors such as its applications mainly in desalination/water treatment, chemical process, chemical tankers/shipbuilding, offshore oil & gas, and pulp & paper industry. As these industries are rising with substantial figures, these are equally pacing the market towards a positive direction, where the market could gain more valuation than ever. Such factors are considered to be essential that is driving the market quite well for some past years.
At the same time, the scope of the market’s growth is again attributed to factors such as the grossing demand of duplex stainless steel pipe due to its cost-effectiveness and efficiency. Duplex stainless steel pipes are predominantly used in exploration and production activities. As technology has progressed in the oil & gas exploration activities, the demand for corrosive and cracking resistant duplex grades products has also become higher. Resultantly, these instances are motivating the market to expand more at the time of the growth period. With the growing industrial base of oil & gas and more, the study witnessed growing investments in the oil & gas industry. These factors are probable to create rewarding opportunities for the key players active in the global stainless steel pipe market
On the flip side, the factor of volatile raw material prices might restrain the growth of the worldwide duplex stainless steel pipes market during its growth period.
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Market Key Players
The well-known players of the global duplex stainless steel pipe industry are listed as Nippon Steel Corporation (Japan), Wenzhou Zheheng Steel Industry Co. Ltd (China), Metline Industries (India), Tenaris S.A. (Luxembourg), ArcelorMittal (Luxembourg), Sandvik AB (Sweden), TUBACEX S.A. (Spain), Zheijang Debang Steel Co. Ltd (China), JFE Steel Corporation (Japan), H.Butting Gmbh & Co.KG (Germany), POSCO (South Korea), Jiuli (China), Outokumpu (Finland), Zhejiang Tsinghshan Steel Pipe Co. Ltd (China).
The segmental analysis of the global duplex stainless steel pipe market has been studied among the critical elements of product type, manufacturing type, thickness, outer diameter, and application.
In terms of product type: Hyper duplex, super duplex, standard duplex, and lean duplex are the segments. Wherein, the hyper duplex segment might lead the market in an advanced version of duplex steel that exhibits the highest corrosion pitting resistance and highest strength compared to other duplex steel pipes.
In terms of manufacturing type: Seamless and welded are the segments. Among which, the seamless segment has a chance to lead the market as it has a wide range of applications in oil & gas, pulp & paper industry, petrochemical, chemical, shipbuilding, and wastewater treatment.
The segment of thickness comprises of 2.5–5.0 mm, 0.3–2.5 mm, and 5.0–10 mm. Among these, the 5.0–10 mm segment can lead the market further.
The segments of outer diameter include 3 to 10 Inch, 10 to 16 Inch, and 1.5 to 3 Inch. The 10 to 16-inch segment is leading to the global market during the forecast period.
The segments of application include chemical process industry, offshore oil & gas, desalination/water treatment, chemical tankers/shipbuilding, and pulp & paper. Out of which, the offshore oil & gas segment is a significant segment for duplex stainless steel pipes. The reason for this is the high durability, and high resistive properties of pipes such as stress corrosion cracking, resistance to pitting, and crevice corrosion are giving a spotlight to the market.
The regional analysis of the duplex stainless steel pipe market has been done across critical regions of Europe, South America, Asia-Pacific, North America, and the Middle East & Africa.
Among these regions, Asia-Pacific has been prompted to lead the duplex stainless steel pipe during the study period. The reason for this growth is as the demand for oil and gas in the Asia-pacific region is emergent at a rapid rate and is consequently motivating the demand for exploration and production activities in offshore oil fields. The study also emphasizes that a majority of the countries in Asia-Pacific are the key importers of oil and gas. Thus, countries such as China, Japan, and India are further driving the demand for inter-country pipelines in the region for certifying the unceasing and reliable oil and gas supply in the region. Thus, the accumulative offshore oil and gas production and increasing imports can effort the demand for duplex stainless-steel pipes in Asia-Pacific during the estimated period.
Europe also leads the global passenger boarding bridge market along with the US. The region of Europe is the largest production region and the fastest growing market for the duplex stainless steel pipe.
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TABLE 1 LIST OF ASSUMPTIONS
TABLE 2 GLOBAL DUPLEX STAINLESS STEEL PIPE MARKET, BY PRODUCT TYPE, 2018–2025 (USD MILLION)
TABLE 3 GLOBAL DUPLEX STAINLESS STEEL PIPE MARKET, BY PRODUCT TYPE, 2018–2025 (KT)
TABLE 4 HYPER DUPLEX: MARKET ESTIMATES & FORECAST, BY REGION, 2018–2025 (USD MILLION)
TABLE 5 HYPER DUPLEX: MARKET ESTIMATES & FORECAST, BY REGION, 2018–2025 (KT)
TABLE 6 STANDARD DUPLEX MARKET ESTIMATES & FORECAST, BY REGION, 2018–2025 (USD MILLION)
TABLE 7 STANDARD DUPLEX MARKET ESTIMATES & FORECAST, BY REGION, 2018–2025 (KT)
TABLE 8 SUPER DUPLEX MARKET ESTIMATES & FORECAST, BY REGION, 2018–2025 (USD MILLION)
TABLE 9 SUPER DUPLEX MARKET ESTIMATES & FORECAST, BY REGION, 2018–2025 (KT)
TABLE 10 LEAN DUPLEX MARKET ESTIMATES & FORECAST, BY REGION, 2018–2025 (USD MILLION)
FIGURE 1 MARKET SYNOPSIS 23
FIGURE 2 GLOBAL DUPLEX STAINLESS STEEL MARKET ANALYSIS, BY PRODUCT TYPE 24
FIGURE 3 GLOBAL DUPLEX STAINLESS STEEL MARKET ANALYSIS, BY MANUFACTURING PROCESS 25
FIGURE 4 GLOBAL DUPLEX STAINLESS STEEL MARKET ANALYSIS, BY THICKNESS 26
FIGURE 5 GLOBAL DUPLEX STAINLESS STEEL MARKET ANALYSIS, BY OUTER DIAMETER 27
FIGURE 6 GLOBAL DUPLEX STAINLESS STEEL MARKET ANALYSIS, BY APPLICATION 28
FIGURE 7 GLOBAL DUPLEX STAINLESS STEEL MARKET ANALYSIS, BY REGION 29
FIGURE 8 GLOBAL DUPLEX STAINLESS STEEL MARKET: MARKET STRUCTURE 30
FIGURE 9 KEY BUYING CRITERIA OF THE GLOBAL DUPLEX STAINLESS STEEL MARKET 31
FIGURE 10 RESEARCH PROCESS OF MRFR 32
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