Recovering Oil Prices, E&P Investments & the Ensuing Pipeline Network Upgrades & Expansion Bodes Well for the Growth of Electric Resistance Welded Pipes and Tubes
Resurgence in the oil & gas sector and the healthy outlook for pipeline projects in addition to the growth in manufacturing and infrastructure development activity and the ensuing demand for high quality steel pipes are poised to drive the global market for Electric Resistance Welded (ERW) Pipes and Tubes to reach 95.4 million tons by 2024 . Electric Resistance Welded (ERW) pipes are strips of hot rolled steel that are transformed into rolls and later welded through the use of an electric charge. ERW pipes compete with seamless pipes in some applications because of lower costs involved in their production. Traditionally, ERW pipes were mainly used in oil and gas pipelines, and water/sewage transportation. However, with improvement in load bearing strength, ERW pipes now find application in industries such as infrastructure, pre-fabricated structures, solar plants, power plants, and furniture. Globally, the ERW steel pipes market continues to benefit from the favora...