The Global Market for Seamless Pipes and Tubes is Projected to Reach 76.7 Million Tons by 2024

Resurgence in E&P Spending to Benefit Demand for Seamless Pipes and Tubes in the Global 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 76.7 million tons by 2024, driven by resurgence in E&P spending, rise in demand for high-grade seamless pipes and tubes and improved infrastructure spending in emerging countries.

Seamless steel pipes and tubes are tubular products made of steel that do not involve a welded seam. Major advantages of seamless pipes include the ability to form thicker walls for smaller diameters, and the absence of seam which makes it more suitable for demanding applications.  Demand for seamless pipes and tubes is closely linked to the dynamics of the energy sector and manufacturing sector. In the near to mid-term,  the market is expected to display improved growth driven primarily by improving economic conditions and resurgence in capital expenditures on exploration, and production by participants in the oil and gas industry.  The OCTG pipes sector is also expected to gain from greater emphasis on horizontal and directional drilling operations. Another factor driving market growth is demand from industries such as power, chemicals, and pharmaceuticals, where the usage of boilers and other chemical processes is more frequent.

At present demand is on rise for high-grade OCTG seamless pipes owing to growing focus on drilling operations in harsh environments and the continuous shift towards directional drilling projects. As most of the remaining reserves of oil and gas are largely found in difficult-to-reach areas or in areas that require digging to greater depths, there exists an increasing demand for higher grade tubing and casings to meet the growing complexity of drilling operations. Demand for high strength and lighter seamless pipes is on rise in industrial machinery and construction machinery such as crane booms. High strength seamless tubes of ultrahigh-strength are gaining demand in applications such as construction machinery where the critical factor is weight control and high resistance to stress. Growth in the automobile market is expected to benefit the demand for high precision seamless tubes.

As stated by the new market research report on Seamless Pipes and Tubes, Asia-Pacific represents the largest market worldwide. The US represents the fastest growing market for seamless pipes and tubes, reflecting a CAGR of 14.3% over the analysis period. Growth in the market is primarily attributed to the recovery in E&P spending amid the nation’s exceptional emphasis on tapping the huge reserves of shale plays to meet the escalating demand for energy and to achieve energy security. In Asia Pacific, the market is expected to benefit mainly from increasing industrialization in the region, followed by rapid infrastructural growth.

Major players in the market 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).

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