The Global Duplex Stainless Steel Pipe Market Size was estimated at USD 477.83 million in 2021 and is projected to reach USD 572.09 million by 2028, exhibiting a CAGR of 2.61% during the forecast period.
London, UK -- (SBWIRE) -- 01/20/2023 -- Duplex Stainless Steel Pipe Market Scope and Overview
The global duplex stainless steel pipe market has been progressively growing over the last few years, due to its exceptional resistance to not only corrosion, but also mechanical stress and elevated temperatures. The duplex stainless steel pipe is a combination of austenitic and ferritic steel, which combines the superior strength given by ferritic steel with the superior corrosion resistance given by austenitic steel. This makes duplex stainless steel pipe ideal for various applications in the petrochemical, oil and gas, marine, and power generation sectors.
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Key Players Covered in Duplex Stainless Steel Pipe market report are:
Additionally, the growing demand for duplex stainless steel pipes in the water, wastewater, and shipbuilding industries is driving the market further. Duplex stainless steel pipes provide solutions in pipelines transporting seawater, wastewater, and heated steam, as it is resistant to chloride-induced stress corrosion cracking, pitting, and crevice corrosion. This versatility is renowned in several applications, such as condensers, desalination plants, heat exchangers, seawater coolers, and scrubbers.
In the construction sector, duplex stainless steel pipes are increasingly used in building and manufacturing, due to their excellent strength and exceptional corrosion resistance. This specific feature makes them suitable to use in chemical processing equipment, as well as structural facilities exposed to harsh environments, such as near the sea or in industrial plants. As a result, duplex stainless steel pipe is expected to record robust growth in the forthcoming years due to the increased industrial activity.
Duplex Stainless Steel Pipe Market Segmentation as Follows:
Market Segmentation (by Type)
Market Segmentation (by Application)
-Offshore Oil and Gas
-Chemical Tankers / Shipbuilding
-Desalination / Water Treatment
-Pulp and Paper
-Air Pollution Control
-Architectural, Building and Construction
Segmented by Region/Country
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The rapid industrialization and growing urbanization in emerging countries has increased the demand for infrastructural development across the globe, which is expected to contribute to the growth of the duplex stainless steel pipe market during the forecast period. Additionally, increasing energy needs and technological advancements is propelling the market for duplex stainless steel pipes even further.
However, the high cost of manufacturing and the fabrication requirements for duplex stainless steel pipes and components are expected to be major constraining factors for the growth of the duplex stainless steel pipe market. Moreover, difficulties in controlling Tungsten and in balancing nitrogen-to-carbon ratio during the manufacturing process can result in the production of inferior products, thus lowering the market potential.
Nevertheless, increasing initiatives by the governments across the world to refurbish and construct new megaprojects are estimated to drive the demand for duplex stainless steel pipe market in the coming years. To conclude, the global duplex stainless steel pipe market is anticipated to witness significant growth in the coming years driven by the rapid industrialization and growing urbanization.
Table of Content – Analysis of Key Points
Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Duplex Stainless Steel Pipe Market Industry Analysis
Chapter 5. Duplex Stainless Steel Pipe Global Market, by Type
Chapter 6. Duplex Stainless Steel Pipe Global Market, by Application
Chapter 7. Duplex Stainless Steel Pipe Global Market, Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process
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