Seamless Steel Pipes Market Revenue Size, Growth Opportunities and Recent Trends, Research Report by 2021-2028
The Global Seamless Steel Pipes Market is forecast to reach USD 94.76 Billion by 2028, according to a new report by Reports and Data.
Seamless steel pipes are pipes with round hollow cross sections that do not have seams. They are generally factory-made using hot working steel. One of the advantages of the pipes is its growing preference. Seamless steel pipes can sustain high pressure. Generally, in welded pipes, the points of welds are the weakest for sustaining pressure, in turn damaging the pressure resistance capability of the pipe. In contrast, seamless pipes are tougher and more pressure resistant.
Seamless steel pipes make it easy to calculate pressure ratings, as there is no need to be concerned about the quality of welding. These pipes are also thinner and lighter than welded pipes, thus making it more cost efficient. Growth in pharmaceutical and chemical & fertilizers industries are increasing their demand for seamless steel pipes. Seamless steel pipes have high resistance to corrosive substances that are transported through it. Fluctuations in the price of crude oil is a restraining factor for the growth of the market.
North America is expected to become a substantial region in the oil and gas industry. It is increasing its export of fossil fuels through its sale of “shale oil” reserves. The region also has an advanced chemical industry. These factors enhance the opportunity of the market in the region.
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Key participants include ArcelorMittal SA, Nippon Steel & Sumitomo Metal Corporation, Tenaris S.A., JFE Steel Corporation, IPP Europe Ltd., Vallourec AG, Cimco Europe, Zaffertec S.L., Techint Group SpA, and Wheatland Tube Company among others.
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.
Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.
Further key findings from the report suggest
- Due to its aesthetic appeal, stainless steel is often chosen if pipe must be visible in public or professional settings.
- Stainless steel is used in the seamless pipes as it provides protection from corrosion. It held a market share of 25% in the year 2020.
- On the basis of the manufacturing process, the market is segmented into cold drawing manufactured seamless pipes and hot rolling manufactured seamless pipes.
- Hot rolling manufactured seamless pipes are forecasted to hold the market share of 56% in the year 2028 with a CAGR of 3.3% during the forecast period.
- Large diameter pipes held a market share of 52% in the year 2020, and small diameter pipes are forecasted to hold a market share of 49% in the year 2028.
- High-pressure seamless steel pipe is forecasted to hold a market share of 33% in the year 2028 with a CAGR of 3.6% during the forecast period.
- Transfer of chemical fluids requires a material that is sturdy enough to carry those fluids and not react with the chemicals easily. The chemical industries prerequisite is a pipe that eliminates the probability of leakage, and seamless steel pipes are suitable for the industry.
- The chemical sector is forecasted to have a CAGR of 4.9% during the forecast period.
- Asia Pacific dominates the market, with 31% of the market share in the year 2020. Expansion of oil and gas sector, automotive and chemical industry in the region is encouraging the growth of the product in the region.
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Market Overview:
Rapid developments in the manufacturing sector and equipment, robust growth in the building and construction sector, high adoption for eco-friendly materials in constructions and increasing demand for smart buildings and smart homes are boosting market growth. Steady increase in the disposable income across the globe, improvements in the standard of living, increasing number of redevelopment plans and high demand for aesthetic look and posh homes are further fueling market growth. In addition, increasing R&D investments, and government schemes to support manufacturing and construction industry are fueling growth of the global Seamless Steel Pipes market.
For the purpose of this report, Reports and Data have segmented into the global Seamless Steel Pipes Market on the basis of Product, Manufacturing Process, Diameter, Pressure Rating, End Users, and Region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Carbon Steel Pipe
- Alloy Steel Pipe
- Stainless Steel Pipe
- Other
Manufacturing Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Cold drawing manufactured seamless pipes
- Hot rolling manufactured seamless pipes
Diameter Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Small diameter pipes
- Large diameter pipes
Pressure Rating Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- High Pressure
- Medium Pressure
- Low Pressure
End Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
- Oil and Gas
- Power generation
- Chemical
- Automotive
- Aviation and Aerospace
- Construction
- Military
- Industrial Processing Plants
- Others
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Competitive analysis of the Seamless Steel Pipes industry offers key data regarding product portfolio, company overview, market concentration rate, pricing analysis, and other key elements. Additionally, it offers key insights into their strategic alliances such as mergers and acquisitions, joint ventures and collaborations, corporate and government deals, product launches, and brand promotions, and agreements, among others. It also provides details about their expansion tactics, the latest developments in products and technologies, production and manufacturing sites, and capacities, along with sales, revenue, returns, and financial standings.
In conclusion, the Seamless Steel Pipes market report provides a granular assessment of the market through extensive segmentations along with analysis of supply chains, sales network and distribution network, and downstream buyers in the Seamless Steel Pipes market.
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Published Sun, 27 Feb 2022 15:39:38 -0600
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