Duplex Stainless Steel Market - Growth, Overview & Outlook
The global duplex stainless steel market is forecast to exhibit a CAGR of over 4% during 2021-2026, growing from more than $ 2.9 billion in 2019, owing to the corrosion resistance, tensile strength, and durability of duplex stainless steel. Duplex stainless steel is twice as strong as ferric stainless steel and regular austenitic steel. Duplex stainless steel offers excellent resistance to corrosion and high mechanical strength ensuring more uptime than carbon steel and conventional steel. Moreover, increasing demand for duplex stainless steel from various end-use industries, such as chemical, oil & gas, pulp & paper, desalination, energy, and construction is likely to drive the demand for duplex stainless steel during the forecast period. In terms of the end-use industry, the global duplex stainless steel market has been categorized into chemical, oil & gas, desalination, construction, and pulp & paper among others. Among the end-use industries, the...