Duplex Stainless-Steel Pipe Market is Expected to Attain an Outstanding Valuation of USD 3.40 billion by 2028

Pune, India, November 2019, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Duplex Stainless Steel Market.

Duplex Stainless Steel Market Highlights

Global Duplex Stainless Steel Pipe Market is set to grow at a CAGR of 4.7% during the forecast period 2021 to 2028. As per the market research report, the market will hit US$3.40 billion in terms of valuation by the end of 2028. The market growth will be driven by the growing investments in the oil & gas industry. Based on the research report, the demand for corrosive and cracking resistant duplex grades products will accelerate growth in the market till 2028. Although the volatile raw material prices will have a negative impact on the global duplex stainless steel pipe market’s growth during this period. The high cost associated with products is predicted to be a key challenge which could become a strong threat from 2021 to 2028 to companies. The market report published by expert analysts includes primary and secondary data and suggests that application, manufacturing type, outer diameter, product type, and thickness segments are anticipated to witness tremendous growth till 2028. Factors such as consumers aiming for more convenience will become key growth drivers during the forecast period and rapid urbanization is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by the weak supply chain which could negatively affect activities taking place across the market. The increasing supply and demand gap is another challenge the market could face till 2028.

Market SegmentationThe duplex stainless steel pipe market is segregated into different market segments based on application, manufacturing type, outer diameter, product type, and thickness. For a comprehensive analysis of the market, the application, manufacturing type, outer diameter, product type, and thickness segments are further split into smaller segments. The manufacturing type segment is categorized into seamless, welded, and others. Furthermore, based on thickness, the global market is also segmented into 5.0–10 mm, 2.5–5.0 mm, and 0.3–2.5 mm. Based on the market segmentation analysis, the report covers market forecasts. On the basis of product type, the global market is split into sub segments including hyper duplex, lean duplex, standard duplex, and super duplex. The outer diameter segment is categorized into 10 to 16 Inch, 3 to 10 Inch, and 1.5 to 3 Inch. Furthermore, based on application, the global market is also segmented into the chemical process industry, chemical tankers/shipbuilding, desalination/water treatment, offshore oil & gas, and pulp & paper. 

The growing demand from companies across different sectors will support the market growth from 2021 to 2028. As per the market research report, the global market for duplex stainless steel pipe is anticipated to grow at a healthy rate across all the application, manufacturing type, outer diameter, product type, and thickness segments. However, the presence of active threats such as unstable raw material prices could hamper the market growth. Business activities across metal pipes have also been examined and studied by metal pipes industry’s experienced analysts. The duplex stainless steel pipe market research report covers findings with predictions and forecasts till 2028.

Regional OverviewThe duplex stainless steel pipe market, with its product and service related segments, is spread across the world. Metal pipes based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. The growing application areas are anticipated to be a major factor for growth across the metal pipes space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The metal pipes sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. metal pipes based businesses in these regional markets are anticipated to grow due to favorable policies across regional markets during the forecast period 2019 to 2025. Although the market’s growth could be affected by the fluctuating prices of raw materials. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.

Competitive LandscapeMetal pipes based organizations are profiled in the market research report. The duplex stainless steel pipe market along with companies and segments have been studied. The analysis of metal pipes based business is also done to identify key challenges and strengths of these companies. The global duplex stainless steel pipe market research report covers SWOT analysis, Porter’s Five Force analysis of major metal pipes related organizations. The strategy and other key details of these companies for the forecast period 2021 to 2028 are covered in the report. The growing demand for innovative products is anticipated to support the market growth as the market is set to grow at a CAGR of 4.7% and reach a value of US$3.40 billion by 2028.

Industry NewsRussel Metals has announced that it has entered into a capital purchase arrangement to buy all of City Pipe & Supply Corp.'s outstanding shares for around $160 million. The last fiscal year's receipts for City Pipe & Supply were about $275 million. City Pipe & Supply, established in 1942, is a market pioneer in providing pipe, valves, as well as fixtures to oil and gas firms which account for roughly 60% of active rigs in the US. Five delivery centers are run by City Pipe & Supply.

Get Full Information about this Report: Duplex Stainless Steel Pipe Industry