The global SMO254 market stood at approximately 110 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 4.1% during the forecast period until 2034.
SMO 254 is a premium-grade stainless steel engineered specifically for harsh environments containing chloride, such as seawater. This alloy undergoes a remelting process using electro-slag, resulting in a material that is cleaner and free from segregation. Notably, it exhibits superior resistance to stress corrosion cracking and boasts exceptional weldability compared to alternative alloys. Its elevated levels of molybdenum, chromium, and nitrogen contribute to its resistance against pitting and crevice corrosion. Additionally, the incorporation of copper enhances its resistance to certain acids. With its high nickel content and substantial levels of chromium and molybdenum, SMO 254 demonstrates resistance to stress corrosion cracking, further underscoring its durability and reliability in demanding applications.
Stainless steel grade 254 SMO is recognized as a premium stainless steel renowned for its exceptional quality. It has a unique blend of attributes including high impact toughness and resistance to a multitude of corrosive factors such as chloride stress corrosion, cracking, pitting, and crevice corrosion. This remarkable alloy, Stainless steel grade SMO 254, finds application across various industries. It is prominently utilized in environments handling saltwater, tall oil distillation columns, and flue gas desulfurization scrubbers. Moreover, it serves as a crucial component in petroleum production facilities, food processing equipment, and process machinery in the chemical industry. Its versatility extends to applications in the pulp and paper industry, where it is employed in bleaching equipment, as well as in flue-gas cleaning systems and desalination plants. Additionally, Stainless steel grade SMO 254 is a preferred choice for heat exchangers across diverse sectors. Its robust properties and resistance to corrosion make it indispensable in environments where durability and reliability are paramount, establishing it as a material of choice in critical applications across a wide range of industries. As industries increasingly prioritize high-performance materials with longevity in challenging operating conditions, the AL-6XN alloy market is set to expand. The global SMO254 market is likely to reach approximately 170 thousand tonnes in 2034.
The Asia Pacific region emerges as one of the leading consumers of the global SMO254 market due to several compelling factors. Firstly, the region's rapid industrialization and urbanization have led to increased demand for corrosion-resistant materials like SMO254 across various sectors such as chemical processing, oil and gas, and water treatment. Secondly, the extensive coastline and maritime activities in countries like China, Japan, and South Korea necessitate the use of corrosion-resistant materials like SMO254 in marine applications, including seawater handling equipment and offshore structures. Additionally, the region's growing focus on environmental sustainability and stringent regulations regarding emissions control drive the adoption of corrosion-resistant materials like SMO254 in applications such as flue gas desulfurization scrubbers and wastewater treatment plants. Moreover, the Asia Pacific region is home to a flourishing manufacturing industry, including automotive, electronics, and infrastructure development, where SMO254 finds application in critical components requiring corrosion resistance and durability.
Based on the end-use, the global SMO254 market is segmented into Oil & Gas, Saltwater Treatment, Flue Gas Desulfurization (FGD) Systems, Chemical Processing, Pulp & Paper, and Others. Among these, the Oil & Gas is the major segment. This industry held about 28% of the global SMO254 market in the year 2023. SMO254 is widely used in vessels, pipelines, and heat exchangers owing to its resistance to acids and hot & cold salt solutions.
Significant players in the Global SMO254 market are Outokumpu, Dhanwant Metal Corporation, Priminox Overseas, Metallica, Nippon Steel, Sandvik, Sanyo Special Steel, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of SMO254 which covers production, demand and supply of SMO254 market in the globe.
• To analyse and forecast the market size of SMO254
• To classify and forecast Global SMO254 market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of SMO254 market in the globe.
To extract data for Global SMO254 market, primary research surveys were conducted with SMO254 manufacturers, suppliers, distributors, wholesalers, and traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global SMO254 market over the coming years.
ChemAnalyst calculated SMO254 demand across the globe by analyzing the volume of SMO254 consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• SMO254 manufacturers and other stakeholders
• Organizations, forums and alliances related to SMO254 distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as SMO254 manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global SMO254 market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
110 thousand tonnes
Market size Volume in 2034
170 thousand tonnes
Growth Rate
CAGR of 4.1% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Oil & Gas, Saltwater Treatment, Flue Gas Desulfurization (FGD) Systems, Chemical Processing, Pulp & Paper, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
I am satisfied with overall performance of ChemAnalyst. Weekly updates before the final report were especially helpful and reassuring. Additional requests on the interim and/or final reports were handled in a swift and professional manner
Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
Disruption Tracker
Disruption Tracker reflect the major shutdown on monthly basis which will help you in
tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions
resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of SMO254 in terms of volume in 2023?
Ans:
The global market size of SMO254 has reached approximately 110 thousand tonnes in 2023.
Q2.
Which region is the leading consumer of SMO254?
Ans:
The Asia Pacific region is the leading consumer of SMO254 globally.
Q3.
Do you offer single or multiuser license?
Ans:
Online Access 12 Months – Single User License (Up to 3 users can access the database)
Online Access 12 Months – Enterprise License (Up to 10 Users can access the database)
Q4.
Will I get access to the analyst who authored this report?
Ans:
You will have 24/7 access to the analyst during the subscription period.
Our Solutions
Custom Research
We at ChemAnalyst provide tailor-made solutions to our clients based on their requirements which help them in building and expanding their business by developing customized strategy such as sales strategy, GTM Strategy, product portfolio and new product development. Our dedicated team helps clients in getting the best solution for their requirements. We at ChemAnalyst look forward to serving our clients for long term association.
Techno Economic Feasibility Report (TEFR)
ChemAnalyst provide TEFR reports which include market sizing, plant cost (ISBL and OSBL units), financial modelling, covering all the major financial calculations and ratios including production cost, IRR, major technology, licensing fee (if required), and others fixed and variable costs. TEFR reports will help the client to build greenfield project as well as brownfield expansion for a specific geography. Our Team of experts have delivered multiple TEFR reports which help clients in moving ahead of their business competition by grabbing the opportunity and expanding their business portfolio.
Price Benchmarking
Pricing benchmark report provides real-time data perpetuating current market scenarios, in a world that is changing at a rapid pace, having real-time prices is an imperative to make impactful insights and thereby informed decisions. The Price Benchmarking report provides pricing data for an individual market, or group of markets, which can be converted into localized insights and comparable listings. Benchmarking Reports help clients to make informed decisions by construing the data on several filters: region, country, category, grade and subsequently increasing their brand presence. Clients majorly require pricing benchmarks when they opt for a competitive pricing strategy.