Duplex Stainless Steel Pipe Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

Duplex Stainless Steel Pipes Market is expected to reach $ 4,688 million by 2023, with a CAGR of 5.15% from 2023 to 2032. Duplex stainless steel pipes are widely used in the oil and gas industry, chemical industry, marine engineering and other industries, with excellent corrosion resistance and high strength. Duplex stainless steel pipes are increasingly used in high-pressure and high-temperature environments, where ordinary materials are not available. Duplex stainless steel pipes are expected to increase their share of the market, mainly driven by technological progress in the manufacturing process and the development of new alloys. The major companies in the market, such as Outokumpu, Aperam and Thyssenkrupp, are actively involved in strategic cooperation and R & D. Recent product launches, focusing on the development of customized solutions for industrial applications, are expected to further drive market growth.

Regional Market Size

Regional Deep Dive

Duplex Stainless Steel Pipes Market is characterized by its application in a wide range of industries, such as oil and gas, chemicals, and marine applications. The market has its own characteristics depending on the local industrial structure, the regulatory framework, and the economic situation. This market is growing due to increased investment in energy and transport projects and the growing focus on corrosion-resistant materials. Duplex Stainless Steel Pipes Market is particularly strong in regions with harsh climatic conditions where the need for strength and longevity is high.

Europe

• Europe is focusing on innovation in duplex stainless steel production, with companies like Outokumpu investing in advanced manufacturing technologies to enhance product quality and reduce costs.
• Duplex steel pipes are being increasingly used in the construction and automotive industries, where companies are placing a greater emphasis on using eco-friendly materials.

Asia Pacific

• The Asia-Pacific region is experiencing rapid industrialization, particularly in countries like China and India, where the demand for duplex stainless steel pipes is being fueled by infrastructure development and energy projects.
• Key players such as Jindal Stainless and Nippon Steel are expanding their operations in the region, focusing on local production to meet the growing demand and reduce lead times.

Latin America

• Latin America is seeing increased investments in mining and energy sectors, particularly in Brazil and Chile, which are driving the demand for duplex stainless steel pipes due to their durability in harsh environments.
• Local companies are collaborating with international firms to enhance production capabilities and meet the rising demand, with initiatives like the Brazilian government's support for infrastructure projects playing a crucial role.

North America

• Among the countries of North America, duplex steel pipes are in great demand because of the booming petroleum and gas industry, particularly in the United States and Canada, where Tenaris and Vallourec are establishing new plants.
• Recent regulatory changes aimed at reducing carbon emissions are pushing industries to adopt more sustainable materials, including duplex stainless steel, which is known for its lower environmental impact compared to traditional materials.

Middle East And Africa

• In the Middle East, the oil and gas industry remains a significant driver for the duplex stainless steel pipe market, with major projects like the Saudi Aramco's Jazan Economic City boosting demand for high-performance materials.
• Regulatory initiatives aimed at enhancing the safety and efficiency of oil and gas operations are encouraging the use of duplex stainless steel pipes, which offer superior resistance to corrosion and high temperatures.

Did You Know?

“Did you know that duplex stainless steel pipes can offer up to twice the strength of conventional stainless steel, making them a preferred choice in high-pressure applications?” — International Stainless Steel Forum (ISSF)

Segmental Market Size

Duplex Stainless Steel is a significant part of the overall market and is currently experiencing a high growth rate, mainly due to its unique properties of high strength and resistance to corrosion. The growing demand for high-quality materials in industries such as the oil and gas industry, where the pipes must withstand harsh conditions, is also driven by the increasing regulatory requirements for safety and the environment. The technological development of the production process also ensures high quality and availability of duplex stainless steel pipes. Duplex Stainless Steel pipes are currently in the implementation phase, and there are many examples of oil and gas companies such as Shell and BP using the material in onshore and offshore applications. Duplex Stainless Steel is used mainly in oil and gas transport, chemical industry and marine applications, where resistance to pitting and crevice corrosion is of great importance. However, the use of Duplex Stainless Steel pipes in other areas is increasing, mainly due to the high strength and good resistance to wear and tear. Combined with the trend for increased energy efficiency and the sustainable development, the development of welding and materials technology is driving the market forward, ensuring that Duplex Stainless Steel pipes remain the preferred material for the most demanding applications.

Future Outlook

Duplex Stainless Steel Pipe Market is expected to grow at a CAGR of 5.15% from 2023 to 2032. This growth is primarily driven by the increasing demand for corrosion-resistant materials in various industries such as oil & gas, chemicals, and marine. Duplex SS pipes are expected to gain momentum as they are expected to be used in various industries to enhance the performance and efficiency of the applications. The penetration of duplex SS pipes in the key industries is likely to increase to 30% by 2032 from an estimated 23% in 2023. In addition, the technological advancements such as improved manufacturing processes and enhanced alloy compositions are expected to drive the market growth. Furthermore, the growing emphasis on sustainable practices and the stringent regulations on the environment are encouraging industries to adopt materials that offer both performance and environmental benefits. The increasing use of duplex SS pipes in the solar and wind energy industry is also likely to propel the market growth. Hence, the key players in the duplex SS pipe market must be aware of these developments and adopt their strategies accordingly to capitalize on the anticipated growth opportunities.