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The duplex stainless steel pipe market share is expected to increase to USD 114.58 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 3.93%.
This duplex stainless steel pipe market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers duplex stainless steel pipe market segmentation by application (oil and gas, chemical and petrochemical, desalination and water treatment, paper and pulp, and others) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The duplex stainless steel pipe market report also offers information on several market vendors, including Acerinox SA, Allegheny Technologies Inc., Aperam, ArcelorMittal SA, Carpenter Technology Corp., Continental Steel and Tube Co., Daido Steel Co. Ltd., JFE Holdings Inc., Jindal Steel and Power Ltd., JSW STEEL Ltd., Metline Industries, Nippon Steel Corp., Outokumpu, POSCO, Rolled Alloys Inc., Sandvik AB, thyssenkrupp AG, TISCO, and TUBACEX SA among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising industrialization in APAC is notably driving the duplex stainless steel pipe market growth, although factors such as volatility in raw material prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the duplex stainless steel pipe industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Duplex Stainless Steel Pipe Market Driver
One of the key factors driving the global duplex stainless steel pipe market growth is the rising industrialization in APAC. The demand for duplex stainless-steel pipes is primarily driven by the oil and gas, construction machinery, and paper and pulp manufacturing sectors in the region. Oil and gas industry High chloride corrosion resistance and resistance to SSC make duplex stainless-steel ideal for oil and gas piping. Therefore, duplex stainless-steel products are widely used in the production of pipe linings, heat exchangers, and pipeline systems onshore and offshore. The growing demand for construction machinery due to the rapidly growing urban population and low-interest rates will also drive the market growth. The excellent corrosion properties of duplex stainless steel, especially in terms of SCC, pitting, fatigue, and abrasion conditions, have resulted in its wide applicability in the paper and pulp industry. Such factors will drive the growth of the market during the forecast period.
Key Duplex Stainless Steel Pipe Market Trend
Growth in the construction industry is one of the key duplex stainless steel pipe market trends that is expected to impact the industry positively in the forecast period. The increasing demand for public infrastructure in emerging markets such as Brazil, Russia, India, China, South Africa, and the countries of the Cooperation Council for the Arab States of the Gulf is one of the prime factors for market growth. An increase in population and rapid developments have influenced governments to invest substantially in infrastructure developments. Duplex stainless steel pipes are widely used in the construction of bridges, wherever corrosion and saline conditions generate the need for high load-bearing strength. For instance, Stonecutters bridge in Hong Kong and Helix Bridge in Singapore are made using duplex grade 2205 stainless steel. The overall evolution of the global economy will accelerate the growth of the global construction market, which will drive the concerned market growth.
Key Duplex Stainless Steel Pipe Market Challenge
One of the key challenges to the global duplex stainless steel pipe market growth is the volatility in raw material prices. With steel supply overtaking the demand, the capacity utilization ratio is 78%. Some major reasons for an increase in excess capacity have been mentioned below:
Despite the sluggish demand, continuous investments in steel projects can be witnessed, which is leading to low stainless-steel prices. Global stainless-steel production capacity has increased in the last decade. Thus, there was an enormous gap between demand and capacity. The rationalization of global capacity will be a significant challenge for the growth of the global duplex stainless steel pipe market during the forecast period.
This duplex stainless steel pipe market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global duplex stainless steel pipe market as a part of the global building products market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the duplex stainless steel pipe market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the duplex stainless steel pipe market encompasses successful business strategies deployed by the key vendors. The duplex stainless steel pipe market is fragmented and the vendors are deploying growth strategies such as product innovation and R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The duplex stainless steel pipe market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the duplex stainless steel pipe market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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51% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for duplex stainless steel pipes in APAC. Market growth in this region will be faster than the growth of the market in Middle East and Africa.
The rapid growth of the construction and transmission, and distribution sectors will facilitate the duplex stainless steel pipe market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The duplex stainless steel pipe market in APAC witnessed challenges due to the outbreak of COVID-19 in 2020. The lockdown restrictions imposed by the governments across the region led to the shutdown of various industrial operations. However, the initiation of large-scale vaccination drives and resumption in operations of end-user industries, such as petrochemical, stabilized the growth of the market in the first half of 2021. Moreover, the optimization of supply chains, the implementation of new technologies, strengthening of analytical models in different areas, and commitment to sustainability are the factors that are expected to drive the market during the forecast period.
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The duplex stainless steel pipe market share growth in the oil and gas segment will be significant during the forecast period. The offshore oil industry continues to push oil exploration deeper, which leads to high-pressure conditions and harsh environments. The increase in the storage being employed for oil and gas will drive the application of duplex stainless steel products, such as duplex stainless steel pipes, in the oil and gas industry. Thus, such factors will boost the growth of the oil and gas segment of the global duplex stainless steel pipe during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the duplex stainless steel pipe market size and actionable market insights on post COVID-19 impact on each segment.
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Duplex Stainless Steel Pipe Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.93% |
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Market growth 2022-2026 |
$ 114.58 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.11 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 51% |
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Key consumer countries |
US, China, Japan, India, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Acerinox SA, Allegheny Technologies Inc., Aperam, ArcelorMittal SA, Carpenter Technology Corp., Continental Steel and Tube Co., Daido Steel Co. Ltd., JFE Holdings Inc., Jindal Steel and Power Ltd., JSW STEEL Ltd., Metline Industries, Nippon Steel Corp., Outokumpu, POSCO, Rolled Alloys Inc., Sandvik AB, thyssenkrupp AG, TISCO, and TUBACEX SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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