Seamless Steel Pipes Market

Seamless Steel Pipes Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Seamless Steel Pipes Market was worth US$ 175.3 Bn and is expected to grow at a CAGR of 5.8% over the forecast period. The market is expected to hit US$ 275.2 Bn by 2030 end.

Global energy consumption, automobile production, and increased building activity in emerging areas are expected to drive growing demand for seamless steel pipes. With a competitive value market share over other pipe types, seamless steel pipes have enormous potential in the worldwide piping sector.

Seamless steel pipe is produced from a solid round steel ‘billet,’ which is a solid length of metal in the shape of a square or circle. It is heated and then pressed or drawn over a form until the steel is formed into a hollow tube with no welding or joints. It is employed in high-pressure environments, crucial places, and under extreme working circumstances.

Market Dynamic

THE GROWTH IN THE CONSTRUCTION INDUSTRY

Growth is projected to be driven by corporations increasing their efforts to boost oil and gas output from existing fields. Furthermore, rising expenditure in upstream and trade organizations by incorporated oil businesses and oil corporations is increasing substantially in the industry for seamless Steel Pipes and Tubes, seeking to increase market demand.

Building the new transmission system required to transfer oil and gas from drilling sites to customers and the requirement for assembling systems at innovative offshore locations has boosted demand for seamless steel pipes. The strength qualities of seamless pipe have overtaken welded pipe, predicting rapid expansion in a market where the bulk of applications relies on their strength.

STRINGENT GOVERNMENTAL REGULATIONS HAMPER THE MARKET GROWTH

Manufacturers are having difficulties in various areas of business. Environmental laws in places such as Europe and North America influence the manufacture of seamless steel pipes. Regulating bodies in separate regions has been focusing on reducing carbon emissions, which has compelled them to implement tough emission restrictions. Noncompliance with these standards might result in lengthy production halts, reducing cash flow.

COVID-19 Impact

The market is heavily reliant on the oil and gas industry. The industry suffered during the pandemic as a result of two factors: the oil price war and the Covid-19 effect. The oil price war began due to a failed production reduction deal. Chemical and refined product demand fell due to slowing industrial activity and travel constraints caused by Covid-19. Oil and gas businesses reacted by reducing capital and operating spending, which impacted demand for seamless steel pipes.

Market Segments Covered in Report

By Process:

• Hot Rolled
• Cold Rolled

By Coating:

• Stainless Steel
• Alloy Steel
• Carbon Steel
• Others (Duplex SS etc.)

By Material:

• 3PP Coating
• FBE Coating
• 3PE Coating

By Dimension:

• < 10 inches
• 10-15 inches
• ≥ 15 inches

By End-Use:

• Automotive
• Power and Energy
• Construction
• Chemical & Petroleum
• Oil and Gas Connections
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are Cold-rolled Type Seamless Steel Pipes projected to have the highest CAGR?

Cold-rolled seamless steel pipes are high-precision seamless steel with high dimensional accuracy and a superior surface polish utilized in equipment and hydrodynamic devices. It is generally used in engineering and major industrial equipment to transport fluid pipes. It is also used to transmit high-temperature and high-pressure fluid pipes on chemical fertilizer equipment and in producing coal mine hydraulic support systems, cylinders, sections, other hydraulic pumps, and columns.

Why is the Oil & Gas segment expected to expand the fastest during the forecast period?

The market is heavily reliant on the oil and gas industry. The industry suffered during the pandemic as a result of two factors: the oil price war and the Covid-19 effect. The oil price war began due to a failed production reduction deal. Chemical and refined product demand fell due to slowing industrial activity and travel constraints caused by Covid-19. Oil and gas businesses reacted by reducing capital and operating spending, which impacted demand for seamless steel pipes.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• The Asia Pacific accounted for a market share of nearly 0% in 2021. The Asia Pacific seamless steel pipes market is expected to expand quickly during the forecast period, owing to rising demand for oil and gas, technological advancement, industrialization and infrastructure developments, and transportation needs. China, India, Japan, Taiwan, and South Korea are major contributors to Asia Pacific’s strong demand for seamless pipes.
• The fact that the bulk producers of seamless steel pipes are situated in this region indicates that the market in this region is projected to increase. Because of their high strength, heat resistance, corrosion resistance, and chemical resistance, seamless pipes are widely utilized in various applications in the infrastructure and construction industries.
• North America, notably the United States, has a greater demand for seamless steel pipes due to many oil refineries, nuclear power plants, and automobile companies.

Competition Analysis

The market is oligopolistic. Companies invest heavily in updating technologies. Major competitors in this market focus on expanding their production facilities, investing in R&D, developing infrastructure, and using integration possibilities across the entire chain. With these tactics, Industrial Seamless Steel Pipe firms may meet rising demand, maintain competitive effectiveness, create new goods and technologies, cut manufacturing costs, and broaden their client base.

Some of the key developments that have taken place in the Seamless Steel Pipes Market include:

• In July 2019, Ansteel significantly advanced in manufacturing light dual-phase steel for autos.
• In February 2019, DP Jindal group announced the acquisition of United seamless Tubularar in a deal worth Rs. 477 crores.

A list of some of the key suppliers present in the market are:

• ArcelorMittal
• American piping’s Inc.
• Benteler
• Hunan Valin Co.Ltd
• JFE Steel Corp.
• Jindal SAW Ltd
• Nippon Steel & Sumitomo Metal Corporation
• Tenaris SA
• TATA Steel
• United States Steel
• Vallourec SA
• Others

Global Seamless Steel Pipes Market 2022-2030: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies