The Global Market for Seamless Pipes and Tubes is Projected to Reach 65 Million Tons by 2022

Rise in Demand for High Performance Pipes and Tubings in Energy and Manufacturing Sector Drives the Global Seamless Pipes and Tubes Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Seamless Pipes and Tubes markets. The global market for Seamless Pipes and Tubes is projected to reach 65 million tons by 2022, driven by the sustained growth in demand for high-grade OCTG and industrial seamless pipes and tubes and improvement in infrastructure spending in developing countries.

Seamless pipes and tubes find use in a wide range of applications wherein corrosion resistance, high strength, and longer product life hold high significance. These pipes and tubes are considered ideal for use in industries such as oil and gas, chemicals, pharmaceuticals, and steam boilers, among others. Oil and natural gas industry forms the major market for seamless OCTG and line pipes. Demand for OCTG pipes depends on the extent of drilling activity for oil and gas exploration and production. At present, sustained oil price deflation and slowdown in drilling rates globally continues to impact the demand for seamless OCTG and line pipes. In the near to mid-term, a moderate upswing in world economy and resurgent activity across several industries including automotive, mechanical engineering, petrochemical, chemical and construction, among others is expected to benefit demand for seamless pipes and tubes.

The OCTG and line pipes segment is expected to make modest strides in near future backed by a slow recovery in rig counts in the oil and gas market. Demand for oil and energy specifically from emerging economies such as India and China bodes well for the OCTG market. Demand for higher grade tubing and casings continues to increase led by growing focus on oil and natural gas liquid drilling activity in deeper reserves and the continuous shift towards directional drilling projects. While opportunities for growth for line pipes are rampant in major pipeline projects that are currently being built, the increasingly challenging exploration environment will also drive  the need for pipes with more demanding properties in addition to high strength and durability.  In industrial and construction machinery sectors, demand for high strength seamless tubes continues to gain demand in applications involving weight control and high resistance to stress. 

As stated by the new market research report on Seamless Pipes and Tubes, Asia-Pacific represents the largest and the fastest growing market worldwide. The growth in the region is led by rapid industrialization, improving economic growth, resurgence in automobile, industrial, and construction markets and rising demand for energy.

Major players covered in the report include ArcelorMittal SA, EVRAZ North America, ChelPipe, JFE Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Jindal SAW Ltd., Maharashtra Seamless Limited, PAO TMK, TMK IPSCO, Techint Group SpA, Tenaris S.A., TenarisSiderca (Siderca S.A.I.C.), Tianjin Pipe (Group) Corporation, UMW Group, United States Steel Corporation, Vallourec & Mannesmann Tubes, Vallourec Star LP and Wheatland Tube Company, among others.

The research report titled “Seamless Pipes and Tubes: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, and strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). 

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

Comments

  1. Neptune Alloys September 6, 2021 at 9:44 PM

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    ReplyDelete

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