SAN FRANCISCO, March 10, 2022 /PRNewswire/ — A new market research report by Global Industry Analysts, Inc. (GIA), a leading market research firm, today Pipeline – Global Market Trajectories and Analysis” report. The report offers a fresh perspective on the opportunities and challenges in the post-COVID-19 market that is undergoing significant transformation.
Version: 16; Release: February 2022 Number of Executives: 2832 Companies: 156 – Participants covered include ArcelorMittal SA ChelPipe EVRAZ North America JFE Steel Corporation Jindal SAW Ltd. Maharashtra Seamless Limited Nippon Steel PAO TMK Tenaris SA Tianjin Steel Pipe ( Group) UMW Group U.S. Steel Vallourec & Mannesmann Tubes (France) Wheatland Tube Company and Others. Coverage: All major regions and key sectors Segments: Type (Hot Finished, Cold Finished); End Use (Oil & Gas, Infrastructure and Others. Construction, Power Generation, Automotive, Other End Use) Geography: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; United Kingdom; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; Korea; Asia Pacific Other Regions; Latin America; Brazil; Mexico; Rest of Latin America; Middle East; Africa.
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The global seamless steel pipe and tube market will reach USD 218.7 billion by 2026.Seamless steel pipes and tubes refer to tubular products made of steel and do not involve welds.This pipe has uniform walls without any joints or welds along the length of the pipe.Seamless pipe and tubing can be used in a wide range of applications where corrosion resistance, high strength and longer product life are important.The demand for seamless steel pipes is closely related to the dynamics of the energy sector and manufacturing.
The corrosion resistance and metallurgical strength properties of seamless pipes and tubes are considered ideal for industries such as oil and gas, chemical, pharmaceutical and steam boilers, heat exchangers and more.While seamless pipes compete with welded pipes in the oil and gas industry, increased drilling complexity is likely to drive their consumption.The post-pandemic growth of the global seamless pipe and tubing market will be driven by improving economic conditions and recovering demand in key end-use markets along with the need for sustainability, light weight, strength, and corrosion resistance.Market demand for OCTG pipelines is expected to grow strongly due to the recovery of exploration and production activities in the oil and gas industry and an increased emphasis on horizontal and directional drilling operations.Another key driver for the growth of the seamless pipe market is the growing demand from industries such as chemical and fertilizers and pharmaceuticals, which use boilers and other chemical processes more frequently.
Amid the COVID-19 crisis, the global seamless pipes and tubes market was estimated at USD 175.2 billion in 2022 and is expected to reach a revised size of USD 218.7 billion by 2026, growing at a CAGR of 5.5% during the analysis period.Hot Finished, one of the segments analyzed in the report, is expected to grow at a CAGR of 6.4% to reach $132.1 billion by the end of the analysis period.Growth in the cold working segment was rescaled to a revised 4.4% CAGR for the next seven-year period following a comprehensive analysis of the business impact of the pandemic and the economic crisis it caused.This segment currently accounts for 45.7% of the global seamless pipe market.
The U.S. market is expected to be worth $43.4 billion in 2022, while China is expected to reach $40.1 billion by 2026. The U.S. seamless pipe and tubing market is expected to reach $43.4 billion in 2022.The country currently accounts for a 24.87% share of the global market.China is the second largest economy in the world and the market size is expected to reach USD 40.1 billion by 2026, growing at a CAGR of 7.1% throughout the analysis period.Other notable geographic markets include Japan and Canada, which are expected to grow by 3.8% and 5.2%, respectively, during the analysis period.On a European scale, Germany is expected to grow at a CAGR of around 3.8%, while the rest of the European market (as defined in the study) will reach $42.6 billion by the end of the analysis period.The production capacity of seamless pipes is mainly concentrated in Asia, especially China.The Asia-Pacific market is expected to benefit primarily from increasing industrialization in the region, followed by rapid infrastructure growth.Russia, Japan, the United States and the European Union are other leading production centers for seamless pipes worldwide.more
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