Duplex Stainless Steel Market Trends

Growth Drivers

• Surge in Construction Activities- There were projected to be 794,431 built-up areas (BUAs) around the globe in 2016. In addition, it's estimated that by 2050, over 2 million new buildings will be built. Hence, the duplex stainless steel market demand for duplex stainless steel is estimated to rise. Construction comprises the building of roads, bridges, buildings, and associated equipment such as swimming pools and heating furnaces. Duplex stainless steel is employed in a variety of construction applications, including fundamental and decorative tubes, masonry wall ties, anchors, reinforcing bars, bridge support components, tunneling equipment, swimming pool equipment, water supply lines and fittings, façade and interior cladding, lifts, wire mesh, extrusions, street furniture (benches, lampposts, handrails) and residential and commercial chimney linings.
• Rise in Utilization of Duplex Stainless Steel in Paper & Pulp Industry- The pulp and paper sector is one of the major users of stainless steel. Duplex stainless steels provide a number of benefits that neatly align with the specifications of modern pulp and paper mills. In a state of tension, pitting, fatigue, and abrasion duplex stainless steel plays a crucial role of resistivity. Furthermore, duplex stainless steels possess a strength that is about double that of austenitic steels, which could lead to significant weight reductions in the material. Environmental considerations have influenced the methods and procedures used in pulping nowadays. Due to a few changes that have rendered working conditions more challenging, mild steel digesters are no longer functional. Owing to these higher compound concentrations and operating temperatures, there is no doubt that the market for corrosion-resistant duplex stainless steel, which is used in pulp and paper mills, has grown.
• Growth in Maritime Activity - Stainless steel is used extensively in the maritime sector. Duplex stainless steel is employed in everything from ships themselves to LNG tanks, chemical tankers, and cargo containers that they convey. It offers the ability to resist corrosion as well as the yield strength required to withstand even the harshest marine environments. Duplex stainless steel has even been employed in the construction of new scrubbing tools.

Challenges

• Lack of Availability of Raw Material - The key raw material (CRM) list includes a number of elements needed for the manufacturing of iron-based alloys, duplex stainless steel, and stainless steel. Among the elements that make up the various grades of duplex stainless steel is chromium (Cr), which is crucial for maintaining the material's resistance to corrosion in a range of settings and applications. However, the lack of availability of these raw materials in the duplex stainless steel market is also hindering.
•  Not Applicable in Very Low/High Temperature - Duplex stainless steel provides the best option for corrosion resistance, strength, and affordability in many applications. These metals do have two major drawbacks, though. First off, they are not suggested to be employed below about 49 degrees Celsius owing to their reduced impact hardness at extremely low temperatures. Similarly, to, their usage is restricted in applications that are greater than 249 degrees Celsius since prolonged exposure may cause harmful intermetallic phases to occur.
• Price of Duplex Stainless Steel in High