Duplex Stainless Steel Market Worth 3.40 Billion USD by 2021

PUNE, India, May 22, 2017 /PRNewswire/ --

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" published by MarketsandMarkets™, the 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.

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Browse 126 market data Tables and 60 Figures spread through 185 Pages and in-depth TOC on "Duplex Stainless Steel Market"
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The growing demand for duplex stainless steel from various end-use industries, including the growing construction and oil & gas industries, and rising cost of raw materials used to manufacture stainless are among the factors driving the growth of the duplex stainless steel market, globally.

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Based on product form, the tubes segment is estimated to lead the Duplex Stainless Steel Market during the forecast period. 

Based on product form, the tubes segment dominated the Duplex Stainless Steel Market in 2016. This dominance can be attributed to the rising demand for tubes, mainly from the oil & gas and chemical & petrochemical industry. Duplex stainless steel is extensively used in these industries because of its high resistance to pitting and crevice corrosion, stress corrosion cracking in chloride bearing environments, sulfide stress corrosion, very high mechanical strength, and high energy absorption, low coefficient of thermal expansion, and good workability and weldability. Duplex stainless steel based tubes are mainly used in offshore oil & gas exploration and production, heat exchangers in chemical industry, and in hydraulic and instrumentation applications in marine industry.