Global duplex stainless steel market
The "Duplex Stainless Steel - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering. According to this research, the global duplex stainless steel market accounted for US$ 2.53 billion in 2017 and is expected to reach US$ 4.56 billion by 2026, growing at a CAGR of 6.8% during the forecast period.
“Some of the key factors influencing the market growth include increasing demand for duplex stainless steel from various end-use industries, such as chemical; oil & gas; pulp & paper; desalination; as well as energy and construction. However, the rising cost of raw materials used to manufacture duplex stainless steel is restricting market growth,” said the report.
“The tubes segment showed significant growth during the forecast period, owing to the growing use of duplex stainless steel-based tubes in offshore oil & gas exploration and production; heat exchangers in the chemical industry and their use in hydraulic and instrumentation applications in the marine industry.”
Asia-Pacific, according to the report, is the most promising market for duplex stainless steels and is projected to remain the same in coming years.