Posted on 27 Sep 2024
China's duplex stainless steel sector has seen rapid development in recent years, marked by a significant rise in production and improvements in product structure and quality, according to a release of China Metallurgical News (CMN) reporting an industry conference held in Beijing earlier.
China's production of high-end duplex stainless surged to 393,400 tonnes in 2023, a sharp increase from just 828 tonnes in 2005. And its share of the country's total stainless steel output also rose to 1.07% last year, up from less than 0.1% in 2005, the CMN report noted.
Over 2019 and 2023, the compound annual growth rate (CAGR) of China's duplex stainless steel production stood at 21.4%, significantly higher than the 5.6% CAGR for overall stainless steel production during the same period.
In the first half of this year, China produced 202,948 tonnes of high-end duplex stainless, up by 3,824 tonnes or 1.9% on year. This accounted for 1.9% of the country's total stainless steel output, according to statistics released by the Stainless Steel Council of the China Iron and Steel Association (CSSC).
In addition to the rapid growth in production, the diversity of China's duplex stainless steel products has also expanded, resulting in a comprehensive product range. Breakthroughs in key technologies have further broadened its application fields, according to the CMN report.
Duplex stainless steel, an alloy known for its high strength, corrosion resistance, superior weldability and stability across various environments, is widely used in industries such as petrochemicals, marine engineering, paper and food processing, as well as in the load-bearing structures of bridges, CMN explained in the release.
To achieve the high-quality development in China's duplex stainless sector, industry experts at the conference recommended enhancing innovation capabilities and driving industrial advancement through scientific and technological innovation. They also emphasized the need for new product development and further optimization of product structures to expand the application of duplex stainless steel in key industries.
Source:Mysteel Global
