Hot Rolled Seamless Steel Pipes Capture A Major Portion, And Are Set To Create An Absolute $ Opportunity Of Around Us$ 117 Bn Over 2021-2031

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North America and Europe collectively account for a majority of the demand for seamless steel pipes. This is due to the fact that these regions are home to a considerable number of chemical, power & energy, and oil & gas industries, and seamless steel pipes play a vital role in all of these end-use industries.

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Relative high research & development spending to introduce new and advanced coated seamless pipes with improved flow ability and increased life cycle are playing a vital role in developing the overall market. Increase in demand for cyclical replacements in pipelines from chemical, oil & gas, and power generation companies is one of the prime reasons driving rising demand for seamless steel pipes. Hot rolled seamless steel pipes are highly sought-after across industries and regions, and hold around 3/4 market share.

As per the report published by Fact.MR, the seamless steel pipes market is anticipated to surpass a valuation of US$ 168 Bn in 2021, and is poised to expand at a CAGR of close to 7% over the next ten years.

Key Takeaways from Market Study

  • Hot rolled seamless steel pipes capture a major portion, and are set to create an absolute $ opportunity of around US$ 117 Bn over 2021-2031.
  • Among the end-use industries, the oil & gas sector has been the fastest-growing segment, owing to steep rise in consumption of oil & gas and power & energy over the past decade.
  • In 2021, North America is set to dominate market revenue; however, by 2031, it is anticipated to lose 177 BPS in its market share.
  • The market in India and China is expected to rise at around 7% to 8% CAGR through 2031.
  • Due to the COVID-19 crisis, demand for seamless steel pipes was hit in 2020; decline was observed in the 2nd and 3rd quarters of the year.

Key Market Segments Covered in Report

Process

  • Hot Rolled
  • Cold Rolled

Coating

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

Material

  • 3PP Coating
  • FBE Coating
  • 3PE Coating

Dimension

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

End-use Industry

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

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

 

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