Demand for Seamless Pipes and Tubes is Expected to Progress at a CAGR of 6% To Reach US$ 331.4 Billion by 2032: Fact.MR Analysis

Seamless Pipes & Tubes Widely Utilised in Oil & Gas Industry for Transportation and Drilling Purposes

Rockville , March 27, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a market research and competitive intelligence provider, the global seamless pipes and tubes market is valued at US$ 185.1 billion in 2023 and is expected to increase at 6% CAGR from 2023 to 2033.

High-performance seamless pipes can handle high temperatures and pressures while maintaining a consistent structure and level of strength. They also exhibit powerful corrosion resistance. Seamless pipes are made from a variety of materials, including steel and alloys, nickel, and magnesium alloys, among others. Seamless pipes are employed in many industries because they hold superior properties compared to their rivals, such as seam and welded pipes.

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One of the leading markets for seamless pipes, including copper and carbon steel pipes, is the oil & gas industry. Seamless pipes are used for numerous purposes, including offshore rigs, drilling for oil, transporting oil and gases, and many more.

The manufacture of chemicals at precise temperatures and pressures, as well as other essential applications, requires the use of seamless pipes, which are widely employed in chemical plant heat exchangers. The chemical industry is growing internationally with rising production and shipments, and this is anticipated to drive the sales of seamless pipes and tubes over the coming years.

Report Attributes

Details

Forecast Period

2023 - 2033

Value Projection (2033)

US$ 331.4 Billion

Growth Rate (2023-2033)

6 % CAGR

No. of Pages

170 pages

No. of Tables

80 Tables

No. of Figures

219 Figures

Key Takeaways from Market Study

The market for seamless pipes and tubes is expected to reach US$ 331.4 billion by 2033.

The market in China is predicted to expand at a CAGR of 7.5% during the forecast period.

Sales of hot finished seamless pipes and tubes are expected to rise at a CAGR of 6.5% during the next 10 years.

Canada's seamless pipes and tubes market is predicted to rise at a CAGR of 6% from 2023 to 2033.

"Stainless steel seamless pipe and tube sales are increasing at a rapid pace due to their high durability, strength, and resistance to corrosion , " says a Fact.MR analyst.

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Key Companies Profiled in Seamless Pipes and Tubes Market Report

Aesteiron Steels LLP

Bharat Heavy Electricals Ltd.

Baosteel Group Corporation

EVRAZ North America

Atlas Steels

Continental Steel & Tube Company

Benteler International AG

EVRAZ plc

Baofeng Steel Group Co., Ltd.

Danieli & C. Officine Meccaniche SpA

Ansteel Group Corporation

D.P. Jindal Group

China Metallurgical Information and Standardization Institute (CMISI)

Recent Market Developments

In an all-stock exchange in November 2019, Maruichi Steel Tube Ltd. purchased Kobelco Steel Tube Co. Ltd. Ltd. The company was estimated to be transformed into another solidified auxiliary organisation for expanding assembly facilities in the United States as well as Asia to develop and support declining local demands for basic steel pipes.

At its Mehsana mill in Gujarat, India, Sandvik Mehsana Steel Mill installed new cold finishing tube production lines on March 11, 2020. The extra line increases Mehsana's cold working capacity to enable quicker delivery times throughout the country. It was built to address the growing need for special alloy tubes in Asia Pacific.

Key Segments of Seamless Pipes and Tubes Industry Research

By Type :

Hot Finished

Cold Finished

By Material :

Steel & Alloys

Copper & Alloys

Aluminum & Magnesium Alloys

Nickel & Alloys

By Production Process :

Cross-roll Piercing and Pilger Rolling

Multi-strand Plug Mill

Continuous Mandrel Rolling

By End-use Industry :

Oil & Gas

Infrastructure & Construction

Power Generation

Automotive

Others

By Region :

North America

Latin America

Europe

East Asia

South Asia & Oceania

MEA

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global seamless pipes and tubes market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on type (hot finished, cold finished), material (steel & alloys, copper & alloys, aluminum & magnesium alloys, nickel & alloys), production process (cross-roll piercing & pilger rolling, multi-strand plug mill, continuous mandrel rolling), and end-use industry (oil & gas, infrastructure & construction, power generation, automotive), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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