Rising Demand for Sustainable Materials Drives Growth in Duplex Stainless Steel Market: A Comprehensive Study

 


Industry Analysis

According to Data Bridge Market Research, the duplex stainless steel market is expected to grow at a CAGR of 4.47% during the forecast period of 2021-2028. The growth is mainly attributed to several factors such as increasing urbanization and modernization leading to growth in construction activities, rising demand for duplex stainless steel from various end-user verticals due to its properties like corrosion resistance, tensile strength, and durability, and the increasing focus on sustainable industrial manufacturing processes. These factors are driving the growth of the duplex stainless steel market.


Market Insights and Scope

Duplex stainless steel is characterized by its high strength, improved corrosion resistance and mechanical properties, due to its unique combination of ferritic and austenitic grades. The growth of various end-user industries is the key driver for the growth of the duplex stainless steel market. Additionally, the advantageous properties of duplex stainless steel contribute to the increasing demand and market value. The building and construction industry, particularly in developing economies, is also driving the demand for duplex stainless steel due to the increase in urbanization and construction activities. The market is also expected to grow due to rising industrialization. The global demand for recycled glass will benefit from this growth.


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