Global Duplex Stainless Steel Pipe Market Overview
The worldwide duplex stainless steel pipe market was estimated at just under USD 1.1 billion in 2019 and is expected to surpass over USD 1.5 billion by 2026, representing a CAGR of around 5.5% during the forecast timeframe. Emerging countries, an increase in offshore spending, and the potential of new oil field discovery are anticipated to swell the global duplex stainless steel pipe market size. Rising onshore as well as offshore exploration investment is predicted to create new opportunities for the market.
However, the economic slowdown and the fluctuating cost of raw materials used to manufacture duplex stainless steel impede demand growth. With the slowdown in the world economy, the duplex stainless steel pipe industry is projected to suffer some impact. The economic recession has caused a shrink in investment across many sectors. This is attributed to harm to the global demand for duplex stainless steel pipe significantly.
The report studies a few key players of the global duplex stainless steel pipe market in detail, covering the company profile, product list, and financial information. The companies included in the report are Outokumpu, Sandvik, Butting, ArcelorMittal, ThyssenKrupp, NSSMC, POSCO, Tata Steel, JFE, Sosta, and PSP.
In this market research report, the market is segmented by size, end user, and region.
Analysis, by size
Based on the size, the market is divided into 12-30 mm, 31-50 mm, 50-89 mm, 90-140 mm, 141-219 mm, and others sizes. The 31-50 mm segment dominated the market with around 30% share in 2019. 31-50 mm size of duplex stainless steel pipe is used for chemical and petrochemical, desalination and water treatment, and paper and pulp industry. Other segments are also projected to show positive growth attributed to end user trends.
Analysis, by End User
By the end-users, the market is bifurcated into offshore oil and gas, chemical tankers or shipbuilding, desalination or water treatment, pulp & paper, chemical process industry, air pollution control, architectural, building & construction, and others. Duplex stainless steel pipe is used across varied applications, including c
hemical processing, transport, and storage, for transportation and production of oil and gas, oil and gas exploration and offshore rigs, oil and gas refining, marine environments, and pollution control equipment. Of these, offshore oil and gas dominated the application segment, with over 35% share in 2019. Duplex stainless steel pipe’s high durability and high resistive properties such as stress corrosion cracking, resistance to pitting, and crevice corrosion make it most suitable for offshore oil and gas exploration applications.
Analysis, by region
Region wise, the market is analyzed across North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia Pacific dominated with over 35% share in 2019. The Asia Pacific duplex stainless steel pipe market is expected to register a double-digit CAGR during the forecast period. The growing industries across countries like China, India, and Japan have propelled the market's growth to a significant pace. Europe and North America is another significant region projected to grow at a substantial rate during the forecast period.
Market Segmentation covered in the Report:
By End Users
- 12-30 mm
- 31-50 mm
- 50-89 mm
- 90-140 mm
- 141-219 mm
- Other sizes
- Offshore Oil and Gas
- Chemical Process Industry
- Chemical Tankers or Shipbuilding
- Desalination or Water Treatment
- Pulp & Paper
- Air Pollution Control
- Architectural, Building & Construction
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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