Global demand for seamless steel pipes is set to reach 693 kilo tons, equaling a market valuation worth US$ 168.3 billion. Growth is set to recover in short-term, with Fact.MR report estimating long-term growth at 6.7% CAGR.
Key Findings of the Study
• Market share of hot rolled seamless steel pipes will increase to over 70% by 2031; currently, this variant holds 67.2% market share
• FBE coating remains the first choice for coating seamless steel pipes, accounting for 42% market share
• 3PP and 3PE coatings remain the other key coating types for manufacturers
• With 37% share, carbon seamless steel pipes topsell, followed by stainless and alloy steel
• End-user demand for 10-15 inches’ seamless steel pipes is the highest, followed by greater than 15 inches’.
• Less than 10 inches’ seamless steel pipes currently hold the lowest market share
• Two macro sectors—oil & gas, and power & energy account for 65% share in seamless steel pipes market
• Demand for seamless steel pipes lowest from automotive industry
• US, UK, Germany, and France among top markets for seamless steel pipes
• China and India to emerge as high-growth markets, with growth in the range of 7% to 8% CAGR
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60% End-users Affirmative on Using Seamless Steel Pipes: Fact.MR Survey
According to Fact.MR’s survey with stakeholders across the value chain, 60% of respondents were positive about using seamless steel pipes in the future.
Nearly 50% of total respondents cited environmental concerns as the reason for switching to seamless steel pipes, whereas nearly one-third respondents mentioned quality as the key factor.
The Fact.MR survey included end-users from oil & gas, power, energy, and automotive sector.
Discover more about seamless steel pipes market with 214 tables, and 190 figures. You will also find detailed market segmentation on https://www.factmr.com/report/seamless-steel-pipes-market
“The sales of seamless steel pipes are likely to witness an increase owing to growing environmental regulations. The adoption of sequestration technology is also likely to witness an uptake during the assessment period.” ~ says a Fact.MR consultant.
Renewed Focus on Pipe Strength will Drive Seamless Steel Pipes
End-users across a range of sectors including oil & gas, power, energy, and automotive continue to pay renewed attention to pipe strength and durability. In recent years, adoption of dopeless technology has also increased an increase in this regard.
Cold finished seamless steel pipes, which are highly durable, continue to witness steady sales due to the evolving demand of end-users. Fact.MR estimates that during the assessment period, seamless steel demand will further strengthen.
The Fact.MR study also provides readers a comprehensive analysis of the key strategies of leading seamless steel pipe manufacturers. Leading players profiled by Fact.MR in the study include ArcelorMittal, American Piping’s Inc., Benteler, Hunan Valin Co. Ltd., JFE Steel Corp., Jindal Saw Ltd.
Key Questions Answered by the Report
• What is the global seamless steel pipes market size?
The global seamless steel pipes market is valued at 168.3 billion, and is set to grow at 6.7% CAGR through 2031
• Which are the largest markets for seamless steel pipes?
US, UK, France, Germany, China, and India are among the largest markets for seamless steel pipes
• Which sector accounts for highest demand for seamless steel pipes?
Bulk of seamless steel pipes demand is concentrated in oil & gas, and energy sector.
• Who are the leading seamless steel pipes manufacturers?
Some of the leading seamless steel pipe manufacturers include ArcelorMittal, American Piping’s Inc., Benteler, Hunan Valin Co. Ltd., JFE Steel Corp., Jindal Saw Ltd.
More Analysis on Pipes Market by Fact.MR
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