April 27, 2022 10:00 ET | Source: Meticulous Market Research Pvt.Ltd. Meticulous Market Research Pvt.limited company
REDING, Calif., April 27, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled “US Cold Drawn Seamless Steel Pipe Market Standards (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213), Product Type (MS Seamless Steel Pipe), Production Process, Application and End-Use Industry – Forecast to 2029″, the U.S. Cold Drawn Seamless Steel Pipe Market is expected to expand at a CAGR of 7.7% during the forecast period 2022-2029 Growth reached $994.3 million.
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Growing demand for seamless steel pipes in the oil and gas industry is a key factor driving the growth of the U.S. cold drawn seamless steel pipe market.However, fluctuating raw material prices and declining demand in a saturated market are expected to dampen the growth of this market.Furthermore, increasing offshore spending and discovery of new oil fields are expected to create significant growth opportunities for players operating the U.S. cold drawn seamless steel pipe market.Trade protectionism and the introduction of new alternatives pose serious challenges to the growth of this market.
During the COVID-19 outbreak, most industries have been negatively impacted due to supply chain disruptions and labor constraints caused by nationwide lockdowns.Factory closures and trade restrictions also added to the challenge, severely impacting several industries.Manufacturing plants are closed, affecting production, resulting in a significant gap between supply and demand.
The U.S. oil and gas industry has been severely impacted by travel restrictions and an economic slowdown, with oil consumption falling to its lowest level in decades.The U.S. Energy Information Administration (EIA) forecasts crude oil production to fall to 11.7 million bpd in 2020 and a further 10.9 million bpd in 2021, compared with an average of 12.2 million bpd in 2019.
The U.S. infrastructure and construction industries are experiencing severe labor shortages, project suspensions and cancellations, and supply and logistics disruptions.According to a national survey conducted by Allied General Contractors in October 2020, 840 (78%) contractors out of 1,077 respondents identified project delays or disruptions, reducing the construction industry’s interest in steel pipe. need.
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Total U.S. energy consumption fell to 93 trillion British thermal units (quads) in 2020, down 7 percent from 2019, according to the U.S. EIA Monthly Energy Review.The decline in electricity demand has affected the growth of the power generation industry.In addition, the nationwide lockdown has affected the U.S. auto industry as the U.S. relies on auto parts imported from China.
Therefore, the COVID-19 pandemic has negatively impacted the U.S. cold drawn seamless steel pipe market due to reduced demand from end-use industries.However, supportive government policies have helped the U.S. steel industry recover from significant economic and production losses.For example, in March 2022, the United States and Japan agreed to expand coordination on trade remedies and customs matters, monitor bilateral steel and aluminum trade, cooperate to address non-market excess capacity and carbon intensity in these industries, and review their arrangements annually.
U.S. Cold Drawn Seamless Steel Pipe Market is segmented on the basis of Standard (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A192, ASTM A209, ASTM A213, ASTM A210, ASTM A333, ASTM A335, ASTM A53, Others), Product Type (MS seamless pipe, hydraulic MS seamless pipe, ERW square and rectangular hollow section pipe, honed pipe), production process (cross-piercing pilger rolling, multi-stand plug mill, mandrel rolling), application ( Precision instrumentation, boiler tubes, heat exchanger tubes, hydraulic applications, fluid transfer lines, threaded tubes, bearing tubes, mining applications, automotive applications and general engineering applications) and end-use industries (oil and gas, infrastructure and construction, power generation , automotive and other end-use industries).
On the basis of standards, the U.S. cold drawn seamless steel pipe market is segmented into ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53 and other standards. By 2022, The ASTM A335 segment is expected to account for the largest share of the U.S. cold drawn seamless steel pipe market.The high growth of this segment is attributed to the increasing demand for seamless ferritic alloy steel pipes for high temperature service; its characteristics include higher strength, resistance, elasticity, and hardenability.Also, ASTM A213 part is expected to account for the highest CAGR due to its increasing use in high temperature services, especially in boilers and superheaters.
On the basis of product type, the U.S. cold drawn seamless steel pipe market is segmented into MS seamless steel pipe, hydraulic MS seamless pipe, ERW square and rectangular hollow section pipe, and honed pipe.The MS seamless steel pipe segment is expected to account for the largest share of the U.S. cold drawn seamless steel pipe market by 2022.This segment will also experience the highest CAGR during the forecast period.The high growth of this segment is attributed to its high strength and pressure bearing capacity in the construction industry as well as in structural and mechanical parts including oil drill pipes, automobile drive shafts, bicycle frames, and steel scaffolding.
On the basis of production process, the U.S. cold drawn seamless steel pipe market is segmented into cross-pierced pilger rolling, multi-stand plug mill, and mandrel continuous rolling.The cross-pierced and pilger-rolled segments are expected to account for the largest share of the U.S. cold-drawn seamless steel pipe market by 2022.The high growth in this segment is attributed to the simplicity of the process, including multi-stand plug mill and continuous mandrel rolling, and the need to identify cavities and regions that form at ductile fractures.Furthermore, factors such as increasing demand for high-quality surface finish with maximum productivity and its advantages, including uniform macro- and micro-structure of cross-sections of forged parts, are driving the growth of this segment.
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The continuous mandrel rolling segment is expected to grow at the highest CAGR during the forecast period.The high growth of this segment is attributed to the increasing need to reduce the outer diameter and wall thickness during production, as well as the growing demand for hydraulic positioning rollers to achieve high output and meet the needs of large-scale production lines.
On the basis of application, the U.S. cold drawn seamless steel tube market is segmented into precision instrumentation, boiler tubes, heat exchanger tubes, hydraulic applications, fluid transfer lines, threaded tubes, bearing tubes, mining applications, automotive applications, and general engineering applications.The boiler tube segment is expected to account for the largest share of the U.S. cold drawn seamless steel pipe market by 2022.This segment is estimated to witness the highest CAGR during the forecast period.The high growth of this segment is attributed to the increasing demand for boiler tubes in steam boilers, fossil fuel plants, industrial processing plants, and power plants.In addition, the growing demand for boiler tubes in the end-use industry is driving the growth of this segment.
On the basis of end-use industry, the U.S. cold-drawn seamless steel pipe market is segmented into oil and gas, infrastructure and construction, power generation, automotive, and other end-use industries.The oil and gas segment is expected to account for the largest share of the U.S. cold drawn seamless steel pipe market by 2022.However, the power generation segment is expected to witness the fastest CAGR during the forecast period.The growth of this segment is attributed to the growing demand for lower mechanicals, tighter tolerances, cross-sectional properties, and improved straightness for bearings, wind turbine components, nuclear, solar, and coal-fired power plants.
The major players in the U.S. cold drawn seamless steel pipe market are ArcelorMittal North America Holdings LLC (U.S.), American Steel Pipe Products, Inc. (U.S.), Chicago Steel Pipe Company (U.S.), American Pipe Products, Inc. (U.S.), Bison Stainless Tube, LLC (USA), Penn Stainless Products, Inc. (USA), Bri-steel Manufacturing (Canada), Michigan Seamless Tube, LLC.(United States), US Metals, Inc. (United States) and Industrial Tube and Steel Corporation (United States).
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U.S. Cold Drawn Seamless Pipe Market, By Standard
U.S. Cold Drawn Seamless Steel Pipe Market, By Product Type
U.S. Cold Drawn Seamless Steel Pipe Market, By Production Process
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Cold Drawn Seamless Steel Pipe Market by Standard (ASTM A179, ASTM A511, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53), Product Type, Production Process, Application, End-Use Industry, and Geography – Global Forecast to 2029
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Post time: May-21-2022