Besides iron, the main alloying elements of the most popular grade 2205 are chromium (21-23%), nickel (4.5-6.5%) and molybdenum (2.5-3).5%). The mechanical properties of duplex stainless steel are determined by the proportions of the ferrite and austenite forming components in the composition. Request Free Sample Copy of this Report ĭuplex stainless steels are austenitic and ferritic steels with a two-phase microstructure. From January to November 2021, global oil and gas discoveries reportedly totaled more than 4.5 billion barrels of oil equivalent. In addition, duplex stainless steel contains specialties such as work-hardened, non-magnetic steel that plays an important role in the detection of new gases and gas sources. The growth of the market is attributed to the increasing potential of discovering new oil fields. The market is projected to garner a revenue of USD 11.1 billion by the end of 2035, up from a revenue of ~USD 4.5 billion in the year 2022. 10, 2023 (GLOBE NEWSWIRE) - The global duplex stainless steel market size is predicted to grow at a CAGR of over ~7.7% from 2023 to 2035. Key duplex stainless steel market players include Tata Sons Private Limited, ArcelorMittal, POSCO Group, Jindal Steel & Power Limited, Daido Steel Co., Ltd., Thyssenkrupp AG, Sandvik AB, Penn Stainless, and Voestalpine AG.

Modern welding tanks