Impact of Covid-19 Outbreak on Duplex Stainless Steel Pipe Market Share

21/mag/2020 14:14:57 Automotive Market Research Reports Contatta l'autore

Market Research Future experts say that the global duplex stainless steel pipe market would reach a constant growth level and achieve a market size of USD 2,516.0 Million by 2025, at a CAGR of 4.66%, in the forecast period.

Market Key Trends & Challenges

The market is quite gradual in its growth but has a prosperous future in the coming years. The market is getting influenced by many factors such as its applications mainly in desalination/water treatment, chemical process, chemical tankers/shipbuilding, offshore oil & gas, and pulp & paper industry. As these industries are rising with substantial figures, these are equally pacing the market towards a positive direction, where the market could gain more valuation than ever. Such factors are considered to be essential that is driving the market quite well for some past years.

At the same time, the scope of the market’s growth is again attributed to factors such as the grossing demand of duplex stainless steel pipe due to its cost-effectiveness and efficiency. Duplex stainless steel pipes are predominantly used in exploration and production activities. As technology has progressed in the oil & gas exploration activities, the demand for corrosive and cracking resistant duplex grades products has also become higher. Resultantly, these instances are motivating the market to expand more at the time of the growth period. With the growing industrial base of oil & gas and more, the study witnessed growing investments in the oil & gas industry. These factors are probable to create rewarding opportunities for the key players active in the global stainless steel pipe market

On the flip side, the factor of volatile raw material prices might restrain the growth of the worldwide duplex stainless steel pipes market during its growth period.

Market Segmentation

The segmental analysis of the global duplex stainless steel pipe market has been studied among the critical elements of product type, manufacturing type, thickness, outer diameter, and application.

In terms of product type: Hyper duplex, super duplex, standard duplex, and lean duplex are the segments. Wherein, the hyper duplex segment might lead the market in an advanced version of duplex steel that exhibits the highest corrosion pitting resistance and highest strength compared to other duplex steel pipes.

In terms of manufacturing type: Seamless and welded are the segments. Among which, the seamless segment has a chance to lead the market as it has a wide range of applications in oil & gas, pulp & paper industry, petrochemical, chemical, shipbuilding, and wastewater treatment.

The segment of thickness comprises of 2.5–5.0 mm, 0.3–2.5 mm, and 5.0–10 mm. Among these, the 5.0–10 mm segment can lead the market further.

The segments of outer diameter include 3 to 10 Inch, 10 to 16 Inch, and 1.5 to 3 Inch. The 10 to 16-inch segment is leading to the global market during the forecast period.

The segments of application include chemical process industry, offshore oil & gas, desalination/water treatment, chemical tankers/shipbuilding, and pulp & paper. Out of which, the offshore oil & gas segment is a significant segment for duplex stainless steel pipes. The reason for this is the high durability, and high resistive properties of pipes such as stress corrosion cracking, resistance to pitting, and crevice corrosion are giving a spotlight to the market.

Regional Framework

The regional analysis of the duplex stainless steel pipe market has been done across critical regions of Europe, South America, Asia-Pacific, North America, and the Middle East & Africa.

Among these regions, Asia-Pacific has been prompted to lead the duplex stainless steel pipe during the study period. The reason for this growth is as the demand for oil and gas in the Asia-pacific region is emergent at a rapid rate and is consequently motivating the demand for exploration and production activities in offshore oil fields. The study also emphasizes that a majority of the countries in Asia-Pacific are the key importers of oil and gas. Thus, countries such as China, Japan, and India are further driving the demand for inter-country pipelines in the region for certifying the unceasing and reliable oil and gas supply in the region. Thus, the accumulative offshore oil and gas production and increasing imports can effort the demand for duplex stainless-steel pipes in Asia-Pacific during the estimated period.

Europe also leads the global passenger boarding bridge market along with the US. The region of Europe is the largest production region and the fastest growing market for the duplex stainless steel pipe.

Market Key Players

The well-known players of the global duplex stainless steel pipe industry are listed as Nippon Steel Corporation (Japan), Wenzhou Zheheng Steel Industry Co. Ltd  (China), Metline Industries (India), Tenaris S.A. (Luxembourg), ArcelorMittal (Luxembourg), Sandvik AB (Sweden), TUBACEX S.A. (Spain), Zheijang Debang Steel Co. Ltd (China), JFE Steel Corporation (Japan), H.Butting Gmbh & Co.KG (Germany), POSCO (South Korea), Jiuli  (China), Outokumpu (Finland), Zhejiang Tsinghshan Steel Pipe Co. Ltd  (China).

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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