Europe Super Duplex Stainless market is projected to reach the valuation of USD 672.05 Million by 2026 with a CAGR of 7.3%

Published | 26 September 2020

Europe Super Duplex Stainless market is projected to reach the valuation of USD 672.05 Million by 2026 with a CAGR of 7.3%

According to Blueweave consulting, Europe Super Duplex Stainless Market has gained momentum in recent years with a CAGR of 7.3%, in value terms, over the forecast period 2020-2026, and expected to reach at USD 672.05 Million by 2026. The rise in operations in activities such as building & construction activities and also owing to the growth in the oil & gas exploration activities are the major key factors booming the demand for duplex stainless steel in the region. The use of Duplex stainless steel can also be seen in the chemical process industry, transportation equipment, and pulp & paper industry for mining and nuclear plant purposes. 

Rise in Offshore Spending and Potential of New Oil Field Discovery Would Require High Usage of Super Duplex Stainless Steel

The super duplex stainless steel is required in the offshore applications for the construction and operation of systems. The need for selective corrosion resistance (by pitting and crevice attack) and stress corrosion cracking susceptibility in sour hydrogen sulfide environments failure prevention and to avoid the corrosion are known to be important factors to maintain offshore safety. Thus, the specification and use of materials that combine corrosion resistance with high mechanical strength, such as super duplex stainless, is a fundamental requirement. 

For instance, oil companies are developing new offshore fields that would require a high amount of pipes and turbines and hence, good mechanical strength and resistance to corrosion. This would lead to high demand for super duplex stainless steel in the market.

Super Duplex Stainless Steel is a Cost-Effective Solution in Biofuel Production

The increasing prices for alloying elements cause increased costs for high nickel-bearing stainless steel. The high prices of these stainless steel available in the market have shifted the manufacturers' choice toward super duplex stainless as it provides various distinct advantages over other steels and has price stability. 

For instance, cost and availability, higher strength, and corrosion resistance of super duplex stainless steels have increased usage in several recent ethanol & biodiesel projects in Europe. The increased strength of super stainless steel may allow for a lighter wall thickness for different tanks and vessels that are being used in the production of biofuels. This leads to less material used for the application as well as less weld wire costs. Hence, increasing biofuels production is a key driver responsible for the growth of the super duplex stainless steel market.

Europe Super Duplex Stainless Market: By Product Form

The pump & valves in the product form segment have the highest growth rate of 22.19% in 2019. As pumps & valves are used largely in the construction and chemical industry and the requirement for high conductivity, good resistance to corrosion and erosion, and need for high pressure makes the super duplex stainless steel preferable choice in the market. 

Europe Super Duplex Stainless Market: Regional insights

Germany's country is likely to boom in the European Super duplex stainless steel market. The large industrial operations in the country leading to the high demand for super duplex stainless steel in the market. The construction market and the oil industry are booming in the European countries, thus will be benefiting the market growth.

Super Duplex Stainless: Competitive Landscape

Companies such as Outokumpu Steel Company, Acerinox S.A., Andus Group, Core Alloys, Vulkan Inox GmbH, Voestalpine Edelstahl GmbH, Sandvik, Handtke Wiros, König & Co. GmbH, Nichelcrom, SAVINOX, FAI-FTC, Tec-Sim S.r.l & W.Oberste-beulmann GmbH are the key players in manufacturing of Super Duplex Stainless.

Don’t miss the business opportunity of the Super Duplex Stainless market. Consult our analyst and gain crucial insights and facilitate your business growth. 

The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Super Duplex Stainless market size & forecast. The report promises to provide state-of-the-art technology of Super Duplex Stainless and industry insights which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market. 

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