The duplex stainless steel pipe market share held a global market value worth USD 2.70 billion by the end of the period in 2019. During the current period, the market is projected to reach USD 3.40 billion by the end of the forecast period in 2028, and hence, a global CAGR of 4.7% between 2021-2028. There has been a substantial increase in the building and construction industry and activities that are playing a major role in recovering the construction sector and activities in the European nations. Similar market trends are likely to dwell in various global locations that will help the duplex stainless steel pipe market share at the global level by the end of the forecast period in 2028.
The sudden arrival of the novel coronavirus pandemic has played a major role in hampering the growth scenario for the duplex stainless steel pipe market size and trends for the forecast period. The global market is on the verge of witnessing a huge backlash in terms of important processes like marketing, production, functioning, and manufacturing that are causing major issues and disruptions in the demand and supply chain mechanism of the global market during the forecast period that will be ending in 2028. The global market has been witnessing the emergence of a shortage of skilled labor, raw material, resources, and much more that might have a major challenge for the market to grow. The challenges for the market to dwell are based on the predictions that have been laid by the business chiefs and analysts for the forecast period of 2021-2028.
The duplex stainless steel pipe market players are likely to be collaborating with the key players that are functional in the market and are likely to possess positive attributes in store for the market operations and growth during the period that will be ending in 2028. The huge rise in the market funding and investments are putting the production and manufacturing units in a better position for bulk products that will help the duplex stainless steel pipe market to expand and enhance at a global and elaborated market scale.
The most prominent major key players in the duplex stainless steel pipe market all across the globe are mentioned below:
These major key players adopt various strategies to endure their market position in the duplex stainless steel pipe market in the global market by going for mergers, and acquisitions, by collaborating with the new and existing players, setting up a new joint venture, establishing a joint or multi-functional partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the duplex pipe market all across the globe.
The duplex stainless steel pipe market analysis shows that there is a considerable surge in the quantum of the non-residential construction activities in global regions like the North American region. The regional market is witnessing the growth of product portfolios followed by a steady shift in the market trends towards the enhanced use of higher grades and degrees of duplex stainless steel pipe. This is emerging as one of the major factors that are expected to drive the growth of the duplex stainless steel pipe industry by the end of the forecast period in 2028.
However, the duplex stainless steel pipe market analysis shows that the market trends are witnessing the wide emergence of various market factors that might restrain the market from growing during the forecast period ending in 2028. The global market experts suggest that the market is witnessing the lack of skilled professionals followed by the lack of awareness that might pose challenges to the market for the period. Knowledge and awareness regarding the developing product portfolios will push the market and target audience to spend their income in acquiring these market services and products. However, the unavailability of authentic sources of information and unwillingness for funding the research and development tasks might challenge the market from growing as per the predictions.
The awareness regarding the need for investment for the expansion of the duplex stainless steel pipe market share is increasing because of the availability of diversified product portfolios followed by multiple uses of the market products. These are the major market factors that are likely to be responsible for strengthening the market positions of these prominent companies in the duplex stainless steel pipe market size for the forecast period. The global market players have been on the way to adopting various kinds of organic and inorganic growth strategies, like the new product developments and launches, acquisitions, and mergers. These are likely to help in enhancing the position of the market by the end of the period in 2028.
The duplex stainless steel pipe market has been divided all across the globe based on the following heads:
The global duplex stainless steel pipe market includes manufacturing types like seamless, welded, and others.
The global stainless steel pipe market has been segmented based on thickness and includes variants like 5.0–10 mm, 2.5–5.0 mm, and 0.3–2.5 mm. The 5.0–10 mm segment of the market is expected to dominate the market well.
The global duplex stainless steel pipe market has been segmented into 10 to 16 Inches, 3 to 10 inches, and 1.5 to 3 Inches. The 10 to 16-inch segment is expected to dominate the global market during the forecast period that will be ending in 2028.
The Global Stainless Steel Pipe Market is segmented based on the application and includes offshore oil & gas, chemical process industry, chemical tankers/shipbuilding, desalination/water treatment, and others like pulp & paper.
The global market has been segmented worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The Asian Pacific region is anticipated to lead the duplex stainless steel pipe during the study period, followed by the European countries. This is because the global market demand for oil and gas in the Asia-pacific region is growing at a rapid rate, which is consequently driving the demand for exploration and production activities in various locations like the offshore oil fields.
This global duplex stainless steel pipe market research report includes the following components mentioned below:
|CAGR||4.66% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Manufacturing Type, Thickness, Outer Diameter, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ArcelorMittal (Luxembourg), Nippon Steel Corporation (Japan), Sandvik AB (Sweden), TUBACEX S.A. (Spain), JFE Steel Corporation (Japan), Zhejiang Tsinghshan Steel Pipe Co. Ltd (China), POSCO (South Korea), Jiuli (China), Outokumpu (Finland), Tenaris S.A. (Luxembourg), H.Butting Gmbh & Co.KG (Germany), Metline Industries (India), Zheijang Debang Steel Co. Ltd (China), and Wenzhou Zheheng Steel Industry Co. Ltd (China)|
|Key Market Opportunities||The demand for corrosive and cracking resistant duplex grades products|
|Key Market Drivers||To be driven by its cost-effectiveness and efficiency|
Global duplex stainless steel pipe market is projected to grow at approximately 4.66 % CAGR during the assessment period (2022-2030).
The valuation of the global duplex stainless steel pipe market is estimated to increase to USD 2,516.0 MN by the end of 2030.
Based on product type, the hyper duplex segment, based on manufacturing process, the seamless segment, and based on application, the offshore oil & gas segment holds majority shares in the global duplex stainless steel pipe market.
Asia Pacific holds the largest share in the global duplex stainless steel pipe market, followed by North America and Europe, respectively.
Sandvik AB (Sweden), Wenzhou Zheheng Steel Industry Co. Ltd.(China), ArcelorMittal (Luxembourg), Outokumpu (Finland), Nippon Steel Corporation (Japan), Tenaris S.A. (Luxembourg), TUBACEX S.A. (Spain), POSCO (South Korea), H.Butting Gmbh & Co.KG (Germany), JFE Steel Corporation (Japan), Metline Industries (India), Jiuli (China), Zheijang Debang Steel Co. Ltd (China), and Zhejiang Tsinghshan Steel Pipe Co. Ltd (China), are some of the top players operating in the global duplex stainless steel pipe market.