DUBLIN, Sep 23, 2022 (GLOBE NEWSWIRE) — The global seamless steel pipe market is valued at $61.6 billion in 2022 and is expected to grow by 7% by 2032, according to a new analysis by market research and competitor information provider Fact .MR developed at a high compound annual growth rate.
Seamless steel pipe systems offer many advantages over traditional welded piping, including high pressure resistance, making them ideal for a wide range of applications in pressure vessels, boilers, automotive, construction, etc. Seamless steel pipes are also used in architecture, for example in the construction of stadiums and large outdoor structures. These pipes provide stability to the roof structure and improve the design of the building.
The use of seamless steel pipe systems in fluid transfer operations by oil and gas and chemical companies has increased significantly. Demand for OCTG increased due to expansion of exploration and production, development of proven shale reserves and increased investment from oil and gas operators. Compared with the production of welded OCTG, the production of seamless OCTG requires a large initial investment, and the right choice of OCTG can reduce risks and costs.
Periodic repair after oil and gas exploration in Europe is a key driver of demand growth for seamless steel pipes.
Due to the large number of refineries, nuclear power plants and the automotive industry in North America, especially in the US, the region has the highest demand for seamless steel pipes.
Europe is one of the largest producers and consumers of seamless steel pipes. Ongoing oil and gas exploration and periodic maintenance in the region are key drivers of demand growth for seamless steel pipes.
The market in Southeast Asia and Oceania is expected to grow during the forecast period due to increased activity related to the oil and gas industry and upcoming new projects in the medium term.
Market participants are focusing on new industry trends such as underground hydrogen storage pipelines to increase their market share in the emerging carbon control segment. The manufacturing industry has begun to adopt Industry 4.0 as a means to produce large volumes of products, manage resources and process materials, which has been a huge challenge in the past, especially in the production of labor-intensive steel products.
Key players are choosing to develop advanced coatings with improved properties such as preventing CO2 corrosion and providing extended service life and cost optimization for pipeline maintenance. In parallel, the market is seeing major partnerships and acquisitions. New production facilities are being built and the capacities of existing plants are being increased.
Famous manufacturers of seamless steel pipes are ArcelorMittaland, American Piping Products Inc., Benteler, Hunan Valin Co. Ltd, JFE Steel Corp., Jindal SAW Ltd, Nippon Steel & Sumitomo Metal Corporation, Tenaris SA, TATA Steel, United States Steel and Vallourec SA. .
Market participants are adopting new strategies to comply with stringent environmental regulations, especially in regions such as Europe and North America. Key players in the market are focused on the development of high strength alloys to improve their use in highly corrosive environments for subsea and marine applications.
Fact.MR provides an unbiased analysis of the global seamless steel pipe market in its new offering, providing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study revealed the advantages and disadvantages depending on the process (hot rolling, cold rolling), coating (3 PE coating, FBE coating, 3 PP coating), material (stainless steel, alloy steel, carbon steel, others (duplex stainless steel, etc.) d.) Basic information. )), size (<10 inches, 10-15 inches, >15 inches) and end-use industries (oil and gas, energy, construction, automotive, chemicals, etc.) by major regions of the world (North America, Latin America, Europe , East Asia, South Asia and Oceania, Middle East and Africa).
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Post time: Mar-21-2023