Seamless Steel Pipes Market Overview:
According to the USD Analytics published latest research report, the global “Seamless Steel Pipes Market” is expected to grow at a tremendous CAGR of 6% during the forecast period 2023-2030.
The seamless steel pipe market is expanding due to strong demand from different industries. Seamless pipes and tubes with corrosion resistance and metallurgical strength are appropriate for use in industries such as oil and gas, chemicals, pharmaceuticals, steam boilers, and heat exchangers. Seamless pipes compete with welded pipes in the oil and gas sector, and usage is expected to climb as drilling complexity increases. Revenue growth in the global seamless pipes and tubes market will be driven by improving economic conditions impacted by the COVID-19 pandemic and rising demand for new, efficient, and innovative products that are sustainable, light in weight, strong, and corrosion-resistant.
The market for Oil Country Tubular Goods (OCTG) pipes is expected to rise rapidly, owing to an increase in downstream exploration and production activities and a higher focus on horizontal and directional drilling operations. Furthermore, increased demand from sectors such as chemical and fertilizers and pharmaceuticals, where boilers and other chemical processes are used more often, drives revenue growth in the seamless pipes market.
Market Drivers:
In the oil and gas industry, seamless pipes are used for several purposes, such as upstream activities, midstream operations, and the transportation and distribution of different fluids, such as oil, gas, slurries, steam, and acids. Process pipework is also used in downstream operations such as oil and gas processing in secondary production.
Seamless pipes are suitable for use in standard plumbing applications in this industry. Furthermore, marine drilling risers use steel alloys and composites to sustain greater loads in corrosive conditions. Because of its longevity, strength, and corrosion resistance, seamless steel is increasingly used for deep drilling.
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Market Restraints:
Raw Material Price Volatility is a Constraint.
Seamless steel pipes are often made of low-alloy structure, carbon, or alloy structural steel and are utilized as structural components for fluid conveyance. Steel manufacturing plants were closed because of the COVID-19 epidemic, affecting steel output and supply. The decrease in supply has also significantly impacted raw material pricing.
Furthermore, the rising demand for steel in the construction, oil, gas, and automotive industries has increased steel prices due to increased raw material prices. China, one of the world’s largest steel manufacturers, has also placed high export duties on various raw materials. Rising raw material costs and their variable nature may raise the price of seamless steel pipes, potentially stifling the industry.
Recent Industry Developments:
Segmentation Analysis:
Material
Production process
Application
In 2022, the hot-finished seamless pipes segment had a significantly greater revenue share of the worldwide market. Hot-finished seamless steel pipes are often made from a heated spinning bar punctured to form a hollow tube. These pipes have several benefits, including cost-effective thick wall pipe, easy machinability, and a suitable choice for most processing procedures.
Hot-finished seamless pipes make bushings, bosses, collars, oil and gas components, axles, large-diameter hydraulic cylinders, hinges, rollers, spacers and sleeves, drilling equipment, and agricultural components.
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Geographical Analysis:
The global seamless steel pipes market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
North America Seamless Steel Pipes Market:
North America is predicted to have considerable revenue growth over the projection period. Because of the increased usage of seamless steel pipes in the automobile industry, the United States and Canada are among the region’s major income providers.
Seamless steel pipes are widely used in this sector for a variety of applications such as automobile exhaust systems, cylinder blocks, liquid storage cylinders, side door anti-collision bars, and high-strength fasteners, among others, due to their numerous advantageous properties such as high precision, availability in small diameter, uniform strength distribution, non-welded joints, and ability to withstand various factors such as high temperatures, pressure capacity, and high quality.
Asia-Pacific Seamless Steel Pipes Market:
Asia Pacific market revenue accounted for 48.10% of worldwide market revenue and is predicted to increase during the forecast period. Rapid industrialization and infrastructure development, particularly the increased need for transportation, raise demand for oil and gas, likely boosting the market for seamless steel pipes. Furthermore, the building sector uses seamless steel pipe for metal components, which drives further revenue development in the area.
Competitive Landscape:
The major companies included in the global seamless steel pipes market are JFE Holdings, Sandvik, Tenaris, IPP Group, Tianjin Pipe Corporation, Nippon Steel Corporation, ArcelorMittal S.A., United States Steel Corporation, Vallourec, and Jindal SAW Limited. Mascoat.
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