Duplex Stainless Steel Market Worth 3.40 Billion USD by 2021 - Seite 2

Duplex stainless steel is widely used in the oil & gas industry. 

Based on end-use industry, the oil & gas industry segment dominated the Duplex Stainless Steel Market in 2016. 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. To adapt to these difficult environments, and to safeguard against the high cost of component failure, it has become critical to ensure that the right alloys are used. As the depth for exploration increases, piping becomes heavier. The superior mechanical strength of duplex stainless steel helps create lighter pipes. Duplex stainless steel is used in process piping systems, separators, scrubbers, pumps, manifolds, Christmas tree components, and flowlines and pipelines transporting corrosive oils and gas.

Asia-Pacific is the largest market for duplex stainless steel 

Asia-Pacific is the most promising market for duplex stainless steels and is projected to remain the same in the coming years as well. Continuously increasing production of the manufacturing sector to cater domestic requirements for high-quality products and rising number of export activities in the region are the factors leading to an increased demand for duplex stainless steel in the region. Moreover, increasing population and growing number of end-use industries in the Asia-Pacific region have also led to innovations and developments in the field of duplex stainless steel, thereby fueling the growth of the Asia-Pacific duplex stainless steel market.

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Key players in the Duplex Stainless Steel Market Outokumpu Oyj (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.