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SAN FRANCISCO , March 10, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Seamless Pipes and Tubes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
Edition: 16; Released: February 2022 Executive Pool: 2832 Companies: 156 - Players covered include ArcelorMittal SA ChelPipe EVRAZ North America JFE Steel Corporation Jindal SAW Ltd. Maharashtra Seamless Limited Nippon Steel Corporation PAO TMK Tenaris S.A. Tianjin Pipe (Group) Corporation UMW Group United States Steel Corporation Vallourec & Mannesmann Tubes (France ) Wheatland Tube Company and Others. Coverage: All major geographies and key segments Segments: Type (Hot Finished, Cold Finished); End-Use (Oil & Gas, Infrastructure & Construction, Power Generation, Automotive, Other End-Uses) Geographies: World; USA ; Canada ; Japan ; China ; Europe ; France ; Germany ; Italy ; UK; Spain ; Russia ; Rest of Europe ; Asia-Pacific ; Australia ; India ; South Korea ; Rest of Asia-Pacific ; Latin America ; Brazil ; Mexico ; Rest of Latin America ; Middle East ; Africa .
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Global Seamless Pipes and Tubes Market to Reach $218.7 Billion by 2026 Seamless steel pipes and tubes refer to tubular products made of steel, which do not involve a welded seam. Such tubes feature a homogeneous wall, without any joint or weld along the tube's length. Seamless pipes and tubes find use in a wide range of applications wherein corrosion resistance, high strength, and longer product life hold high significance. Demand for seamless pipes and tubes is closely linked to the dynamics of the energy sector and manufacturing sector.
The corrosion resistance and metallurgical strength characteristics of seamless pipes and tubes are considered ideal for use in industries such as oil and gas, chemicals, pharmaceuticals, and steam boilers, heat exchangers, among others. While seamless pipes compete with welded pipes in the oil and gas industry, rise in drilling complexity is likely to drive their consumption. Post pandemic growth in the global seamless pipes and tubes market will be driven by improving economic conditions and recovering demand in key end-use markets, and increasing demand for new, efficient, and innovative products that are sustainable and feature light weight, good strength, and corrosion resistance. The market is expected to witness strong growth in demand for OCTG pipes, driven by resurgence in exploration & production activity in the oil & gas sector and greater emphasis on horizontal and directional drilling operations. Another key driver for the seamless pipes market growth is growing demand from industries such as chemical and fertilizers, and pharmaceuticals, where the usage of boilers and other chemical processes is more frequent.
Amid the COVID-19 crisis, the global market for Seamless Pipes and Tubes estimated at US$175.2 Billion in the year 2022, is projected to reach a revised size of US$218.7 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Hot Finished, one of the segments analyzed in the report, is projected to grow at a 6.4% CAGR to reach US$132.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cold Finished segment is readjusted to a revised 4.4% CAGR for the next 7-year period. This segment currently accounts for a 45.7% share of the global Seamless Pipes and Tubes market.
The U.S. Market is Estimated at $43.4 Billion in 2022, While China is Forecast to Reach $40.1 Billion by 2026 The Seamless Pipes and Tubes market in the U.S. is estimated at US$43.4 Billion in the year 2022. The country currently accounts for a 24.87% share in the global market. China , the world's second largest economy, is forecast to reach an estimated market size of US$40.1 Billion in the year 2026 trailing a CAGR of 7.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 3.8% and 5.2% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 3.8% CAGR while Rest of European market (as defined in the study) will reach US$42.6 Billion by the end of the analysis period. Seamless pipe production capacity is largely concentrated in Asia , particularly in China . Asia Pacific market is expected to benefit mainly from increasing industrialization in the region, followed by rapid infrastructural growth. Russia , Japan , the US, and EU are other leading production centers of seamless pipes, globally. More
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