Dublin, Aug. 15, 2022 (GLOBE NEWSWIRE) -- The "Seamless Pipes and Tubes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
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.
Key Players
- 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
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Drilling & Well Construction Activity to Post Strong Gains from Demand-Led Rebound
- Unconventional Oil & Gas Resources Trigger Demand for High Grade OCTG Products
- Deep Water Drilling Widens Opportunities
- Deepwater Projects to Attract Increased Investment in 2022
- Five New Deepwater Discoveries in the Gulf of Mexico Announced by Operators
- Deepwater Activity in the US Gulf of Mexico to Increase
- Tough Operating Environments Drive Demand for High Quality Line Pipes
- Horizontal Drilling Benefits Demand
- Machinery: An Important Market for Seamless Tubes
- High Performance Steel Grades Gain Importance in Machinery
- Recovery in Automotive Sector to Drive Gains
- Power Generation: An Expanding Market for Seamless Pipes
- Seamless Tubes in Industrial Boilers
- Seamless Tubes in Utility Boilers
- Seamless pipes Gain Strength in Load Bearing Applications in the Construction Sector
- Rebound in the Construction Sector to Drive Opportunities
- Construction Sector Outlook for 2022
- Infrastructure Needs Fuel Demand for High Strength Tubes
- Infrastructure Financing of Emerging Markets to Receive Encouragement from Ongoing US-China Tensions
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/cg6lu
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