According to the latest research report published by USD Analytics, the global “seamless steel pipe market” is expected to grow significantly at a CAGR of 6% between 2023 and 2030. The seamless steel pipe market is expanding due to strong demand from various industries. Seamless pipes with corrosion resistance and metallurgical strength are suitable for oil and gas, chemical, pharmaceutical, steam boiler, heat exchangers and other industries. In the oil and gas sector, seamless pipes compete with welded pipes and their use is expected to increase as drilling complexity increases. Improving economic conditions affected by the COVID-19 pandemic and the growing demand for new, efficient and innovative products that are sustainable, lightweight, strong and corrosion resistant will drive revenue growth in the global seamless pipe market. The Oilfield Tubular (OCTG) market is expected to grow at a rapid pace due to the expansion of exploration and production activities and increased focus on horizontal and directional drilling operations. Moreover, growing demand from industries such as chemicals, fertilizers and pharmaceuticals, which are more likely to use boilers and other chemical processes, is driving revenue growth in the seamless pipe market. In the oil and gas industry, seamless pipes are used in a variety of ways, such as in production and processing, as well as in the transport and distribution of various liquids such as oil, gas, drilling fluid, steam and acids. Process piping is also used in downstream operations such as oil and gas refining in secondary production. Seamless pipes are suitable for standard plumbing applications in the industry. In addition, offshore drilling risers use steel alloys and composite materials to withstand heavy loads in corrosive environments. Seamless steel is increasingly being used for deep hole drilling due to its durability, high strength and corrosion resistance. Seamless steel pipes are usually made from low alloy structural steel, carbon steel or alloy structural steel and are used as structural components for fluid transportation. The closure of steel mills due to the outbreak of COVID-19 has affected the production and supply of steel. Supply cuts also had a major impact on commodity prices. In addition, the growing demand for steel in the construction, oil, gas and automotive industries has led to higher steel prices due to rising raw material prices. China, one of the world’s largest steel producers, also imposes high export duties on various raw materials. Rising raw material costs and their volatility could lead to higher prices for seamless steel pipes, which could weaken the industry. In 2022, the heat-treated seamless pipe segment will significantly increase its revenue share in the global market. Hot worked seamless steel pipes are usually made by piercing a heated spinning rod to form a hollow tube. These pipes have a number of advantages, including an economical thick wall pipe, ease of processing, and the ability to perform most processing operations. Seamless heat treated pipes are used in the manufacture of bushings, bosses, clamps, oil and gas components, axle shafts, large diameter hydraulic cylinders, hinges, rollers, spacers and bushings, drilling equipment and agricultural components. The global seamless steel pipe market is divided into North America, Europe, South America, Asia Pacific, Middle East and Africa. North America is expected to experience strong revenue growth over the forecast period. The US and Canada are the main sources of income in the region due to the growing use of seamless steel pipes in the automotive industry. Due to its excellent properties, seamless steel pipes are widely used in automobile exhaust systems, cylinder blocks, liquid storage tanks, anti-collision side doors, high-strength fasteners and other fields. It has the characteristics of high precision, small diameter, uniform distribution of strength, no welding, high temperature resistance, pressure resistance and high quality.
Post time: Jun-27-2023