Data Bridge Market Research analyses that the duplex stainless steel market, which was USD 3.5 billion in 2022, would rocket up to USD 4.47 billion by 2030 and is expected to undergo a CAGR of 3.2% during the forecast period. “Oil and Gas” dominates the duplex stainless steel market's end-user industry segment due to improved corrosion and stress resistance.In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Market Analysis and Insights
Duplex stainless steel is a type of stainless steel that consists of a balanced microstructure of approximately equal amounts of austenite and ferrite phases. It is characterized by its high strength and corrosion resistance, making it suitable for a wide range of applications.
Duplex Stainless Steel (also known as polymeric material) is made from a variety of starting materials, which is why it is classified as a polymer rather than a distinct compound. It is available in rigid and flexible forms and is used in a wide range of applications that make our lives more comfortable and environmentally friendly due to factors such as easy availability, low cost, ease of use, and recyclability. Factors such as the increased use of Duplex Stainless Steel in refrigeration applications and the revival of the bedding segments are driving the market growth rate. Furthermore, the numerous applications provided by flexible foam, such as upholstered furniture, rigid foam for insulation in walls and roofs, TPU used in medical devices and footwear, to coatings, adhesives, sealants, and elastomers used on floors and automotive interiors, will pave the way for market growth.
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Duplex Stainless Steel Market Scope
The Duplex Stainless Steel market is segmented on the basis of material type, product type and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material Type
- Polyol
- MDI
- TDI
- Others
On the basis of material type, the Duplex Stainless Steel market is segmented into polyol, MDI, TDI and others.
Product type
- Flexible foam
- Rigid foam
- Coating
- adhesive and sealants
- Elastomers
- Others
Based on product type, the Duplex Stainless Steel market is segmented into flexible foam, rigid foam, coating, adhesive and sealants, elastomers and others.
End user
- Building and construction
- Automotive and transportation
- Bedding and furniture
- Footwear
- Appliances and white goods
- Others
Based on end user, the Duplex Stainless Steel market is segmented into building and construction, automotive and transportation,, bedding and furniture, footwear, appliances and white goods and others.
Competitive Landscape and Duplex Stainless Steel Market Share Analysis
The duplex stainless steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Duplex stainless steel market.
Some of the major players operating in the duplex stainless steel market are:
- COLUMBUS STAINLESS (PTY) LTD (South Africa)
- Sandmeyer Steel Company (U.S.)
- Jindal Steel & Power Limited (India)
- Aalco Metals Limited (U.K.)
- Special Steel Components Corporation (Japan)
- Penn Stainless (U.S.)
- NIPPON STEEL CORPORATION (Japan)
- Outokumpu (Finland)
- MegaMex (U.S.)
- Sandvik AB (Sweden)
- Citizen Metals Pvt Ltd. (India)
- Special Piping Materials (U.K.)
- Rolled Alloys, Inc. (U.S.)
- Tata Steel (India)
- ArcelorMittal (Luxembourg)
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