Market Size of Duplex Stainless Steel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Duplex Stainless Steel Market Analysis
The global duplex stainless steel market has been estimated to be valued at USD 2,310.63 million throughout 2023, and it is expected to reach a value of USD 2,879.47 million by 2028, registering a CAGR of 4.5% during the forecast period (2023-2028).
- Over the medium term, factors such as increasing applications for corrosion resistance and rising demand from the oil and gas industry are expected to drive the growth of the market.
- On the other hand, the limited use of duplex stainless steel at higher temperatures is expected to restrain the growth of the duplex stainless steel market.
- The rising demand for duplex stainless steel in new oilfield facilities is expected to offer growth opportunities to the industry.
- The Asia-Pacific region is expected to dominate the market, with the largest consumption being recorded by countries like India and China.
