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Global Duplex Stainless Steel Tubes Market Will Surpass USD 1500.00 Million by 2026

03-16-2020 12:49 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Facts & Factors

Global Duplex Stainless Steel Tubes Market

Global Duplex Stainless Steel Tubes Market

Findings from Facts and Factors report "Duplex Stainless Steel Tubes Market By Size (12-30 mm, 31-50 mm, 50-89 mm, 90-140 mm, 141-219 mm, and other sizes), By Application (Offshore Oil and Gas, Chemical Process Industry, Chemical Tankers / Shipbuilding, Desalination / Water Treatment, and Others (Construction, Pulp & Paper Industry, Etc.)): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global Duplex Stainless Steel Tubes market in 2019 was approximately USD 1,000.00 Million. The market is expected to grow at a CAGR of around 6.0% and is anticipated to reach around USD 1500.00 Million by 2026.

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The microstructure within duplex stainless steel tubes are approximately 50 percent ferrite & 50 percent austenite, and products share the physical properties of both austenitic & ferritic grades. It exhibits better-quality resistance to localized corrosion and is resistant to the cracking caused by chloride stress corrosion in austenitic grades. It can be used to design thinner gauge tubing. Advanced hardness values offer better wear resistance for high precision tubes. Duplex steel has a ductile or brittle transition at approximately -50 degrees. These tubes are characterized by high molybdenum (up to 5%) & chromium (19-28%) and lower nickel contents compared to austenitic stainless steel. It is available in different grades with different chemical composition depending upon end-use industry requirements.

Increasing investment in infrastructure development is the key factor in the increasing importance of duplex stainless steel tubes through the construction sector. The duplex stainless steel tubes market growth is mainly attributed to growing demand in the construction and infrastructure development sector. Worldwide the demand for the development of new social infrastructure has been increased drastically in recent years. Countries such as Japan and China are demanding highly durable and low maintenance infrastructure. The global duplex stainless steel tubes market is expected to grow owing to the in-demand by an extensive focus on research and development by key players. Rising offshore and onshore application activities are anticipated to witness significant growth in the global duplex stainless steel tubes market within the forecast period. The growing use of carbon fiber in the automotive industry may hamper the market's growth. Research and development, innovations activities in the technology of the duplex stainless steel tubes and increased government investment in Oil & gas and chemical industries are anticipated to open new avenues for the duplex stainless steel tubes market in the near future.

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On the basis of size, the global duplex stainless steel tubes market is segmented as 12-30 mm, 31-50 mm, 50-89 mm, 90-140 mm, 141-219 mm, and other sizes. Among which 31-50 mm size segment was accounted for the major revenue share in the global duplex stainless steel tubes market in 2019. This growth is attributed to the rising demand for 31-50mm duplex stainless steel tubes from the automotive sector. Compared to the 12-13mm tube segment, the PAI 31-50mm tubes have a broad range of applications in the automotive segment to make exhaust components, catalytic converter shells, rollbars/bull bars. In 2019, the pre-cut strips segment was accounted for around 30.0% of the global Duplex Stainless Steel Tubes industries.

On the basis of application, the global duplex stainless steel tubes market is categorized into offshore oil and gas, chemical process industry, desalination/water treatment, chemical tankers/shipbuilding, and others (construction, pulp & paper industry, etc.). Among the aforementioned segment, the offshore oil and gas segment was accounted for more than 40.0% revenue share in 2019. Particularly, the offshore oil industry is constantly pushing oil examination to more projecting depths, which leads to higher pressure conditions and hazardous surroundings. However, in order to overcome these difficult situations, and additionally so as to be organized for the high cost of parts failure, it has become necessary to select the specific alloys for the oil & gas industry applications. The growth in the oil & gas and construction industry in the past few years has increased the demand for duplex stainless steel tubes.

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On the basis of region the duplex stainless steel tubes market is segmented into, Asia Pacific, Europe, Middle East & Africa, North America, and Latin America. In 2019, the North American region dominates the Duplex Stainless Steel Tubes market among all the regions followed by Europe in terms of value.

Some of the key players operating in the market include Butting Group, ArcelorMittal, ThyssenKrupp, NSSMC, POSCO, Tata Steel, JFE, North American Stainless, Inc., Tenaris, Tubacex, Metline Industries, and Baosteel, among others.

This report segments the global Duplex Stainless Steel Tubes market as follows:

Global Duplex Stainless Steel Tubes Market: Size Analysis

12-30 mm
31-50 mm
50-89 mm
90-140 mm
141-219 mm
Other Sizes

Global Duplex Stainless Steel Tubes Market: Application Analysis

Offshore Oil and Gas
Chemical Process Industry
Chemical Tankers / Shipbuilding
Desalination / Water Treatment
Others (Construction, Pulp & Paper Industry, Etc.)

Global Duplex Stainless Steel Tubes Market: Regional Analysis

North America
U.S
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-East Asia
Rest of Asia pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of Middle East & Africa

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