Carbon Seamless Steel Pipe Market Focusing On Product Advancements For Business Expansion 2031
About the Report
Seamless steel pipes hold huge potential in the global piping industry, with a competitive value market share over other pipe categories. These pipes are extensively used as line pipes for the transmission of fluids such as oils and chemicals, and also find application as structural members in automobile, construction, and mechanical industries, especially carbon steel, alloy steel, and stainless steel seamless pipes.
There is also huge demand for hot rolling manufactured steel pipes across regions.
Over the past half-decade, demand for seamless steel pipes has been steadily growing due to their multitude benefits over traditional piping systems, such as ERW (electric resistance welding) pipes. Also, increasing demand for oil & gas, chemicals, and related products is supporting overall market growth.
For in-depth competitive analysis, buy now@ https://www.factmr.com/checkout/5626/S
In a recently published report by Fact.MR, insights regarding key factors fueling market growth have been offered for the next ten years. The report tracks trends in 20+ high-growth countries, with the regions of Asia Pacific, North America, and Europe leading the way. The impact of COVID-19 has also been detailed in the report, with exhaustive insights into what the years ahead will offer.
Historical Vs Future Market Projections
From 2016 to 2020, the global seamless steel pipes market experienced a low CAGR of 2.1%, with oil & gas and chemical industries playing a crucial role in driving demand. Rising demand for oil & gas to meet the needs of a growing population and rapid urbanization have been supporting market expansion.
However, due to the COVID-19 pandemic, market growth declined in FY2020 as a result of contraction in demand from oil & gas and power generation industries. In addition, there was also a decrease in demand from the chemical industry.
Owing to these factors, demand over the long-term forecast period can be estimated by breaking the forecast timeline into three parts.
- Short-run: Recovery growth is set to be observed over this term.
- Medium-run: Demand and price normalization are set to be observed over this period.
- Long-run: Economic cycles and inflation rates to affect demand and pricing of the product.
Assessing the market over the forecast period, it is anticipated to grow at a moderate rate in the short-run (2021-2024), while in the medium run, it is expected to record high growth. Overall, from 2021 to 2031, the global market is projected to expand at a healthy CAGR of close to 7%.
Which regions have greater potential for seamless steel pipes?
Due to the presence of a large number of oil refineries, nuclear power plants, and automotive industries in North America, particularly the United States, the regions witnesses the highest demand for seamless steel pipes.
Europe is one of the prominent producers and consumers of seamless steel pipes. On-going oil & gas exploration followed by cyclical maintenance in this region is the key factor for growth in demand for seamless steel pipes.
The market in Southeast Asia & Oceania is expected to grow during the forecast period, due to increasing activities related to oil & gas industries and upcoming new projects in the mid-term.
For critical insights on this market, request for methodology here@ https://www.factmr.com/connectus/sample?flag=RM&rep_id=5626
What are the expected trends related to seamless steel pipes?
Seamless steel pipes are omnipresent and can be located under and inside a residential complex, laboratory, commercial complex, and industrial walls. Fluids such as water, natural gas, etc., are transported utilizing these pipes.
Growing carbon emission has been a major concern for manufacturing industries. As a solution to reduce these emissions, sequesteration technology has been adopted, where carbon emissions are stored underground. These specifications have been drawing attention towards seamless steel pipes, which possess all these properties. Demand for seamless pipes is expected to surge for use in underground storage systems.
Country-wise Analysis
Why China is dominating global seamless steel pipe production?
China has occupied a large share in the seamless steel pipe production due to abundance of raw materials needed to manufacture these pipes, which, in turn, has made it easier for manufacturers to avail the same at lower costs for their end use. This reason reflects the presence of an ample amount of manufacturers in the country, which has been a prime factor for increased production of seamless steel pipes.
Furthermore, manufacturing units are automated and well-equipped with robust material handling systems. The market in China is expected to expand at a CAGR of above 7% over the next ten years.
What is the share of Japan in the global seamless steel pipes market?
Japan is one of the key countries after China in the East Asia region. Seamless steel pipe companies such as Nippon Steel & Sumitomo Metal Corporation and JFE Steel Corporation have occupied a major share in Japan’s market. In the published report by Fact.MR, Japan has been highlighted as one of the key countries for seamless steel pipes, and deep insights about pricing, current trends, and other factors have been provided.
To receive extensive list of important regions, ask for TOC here@ https://www.factmr.com/report/seamless-steel-pipes-market/toc
How is Russia this market from the consumption side?
Europe holds a competitive share in the global market, with Russia possessing a prominent amount of this share, owing to increasing demand from the consumption side. Ongoing and upcoming activities related to highly marketable oil & gas projects during the forecast period will allow the country to the drive seamless steel pipes industry in the European region.
Category-wise Insights
Why are coated seamless steel pipes expected to witness notable?
Coated seamless steel pipes are preferred over plain pipes. This is due to the fact that, coated pipes add more life to the pipe. Harsh and corrosion-prone environmental conditions degrade the overall performance of seamless pipes, and may lead to degradation of the product being transported through them as well. Also, internal coating in seamless pipes are eliminated, enhancing flow and reducing internal losses.
Why are carbon steel seamless pipes preferred over other material types?
Carbon steel is a special type of steel that has a higher concentration of around 2% of carbon content in total composition. Carbon material-based seamless steel pipes are widely used for oil & gas, chemicals, and power & energy. Carbon steel pipes are durable, cost-effective, and can be easily recycled as compared to other materials.
With so many benefits, customers are getting attracted towards carbon steel seamless pipes, which has been supporting overall market growth with a market share of over one-third.
What are the key challenges faced by seamless steel pipes manufacturers?
Manufacturers are facing challenges in some regions of operation. Stringent environmental regulations in regions such as Europe and North America are affecting seamless steel pipe production. Regulating bodies in respective regions have been targeting the reduction of carbon emission, which has been compelling them to introduce strict laws related to emissions. Non-compliance with these regulations can lead to long production stoppages, resulting in the reduction of cash flow.
As a solution, key seamless steel pipe suppliers have been investing extra funds in adopting low-emission manufacturing units for the production of seamless steel pipes and related products.
Competition Landscape
Fact.MR has profiled the following prominent seamless steel pipe manufacturers in its report:
- 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
Report Scope
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | US$ Bn for Value & Kilo Tons for Volume |
| Key Regions Covered |
|
| Key Countries Covered |
|
| Key Segments Covered |
|
| Key Companies Profiled |
|
| Customization & Pricing | Available upon Request |
Key Questions Answered in Report
- How will demand for seamless steel pipes increase until 2031?Fact.MR projects the market to register a CAGR of over 6% by volume across the 2021-2031 assessment period. Higher penetration in chemical and oil & gas industries will bolster demand over the coming years. Overall, the global seamless steel pipes market size is expected to expand 2X by 2031.
- Which region is the most prominent growth contributor?As per Fact.MR’s projections, North America is expected to hold a pivotal role in driving demand for seamless steel pipes. Surge in demand from oil & gas and related industries is set to be observed across the country.
- How is the overall market in terms of key seamless steel pipe manufacturers?The global seamless steel pipes market is highly fragmented in nature. Key players account for a moderate share, followed by small to medium regional players. Players have adopted conservative strategies in prominent growing regions.
- Which type of seamless steel pipe accounts for the highest demand?Carbon steel seamless pipes account for the highest share in the market. Other steel materials will play a vital role in driving demand from a variety of end uses.
- What are the strategies adopted by the key players in the market?Key players have been focusing on both, organic and inorganic development in order to sustain their market positions, expand global footprint, and neutralize competition in their respective operating regions.
- What is the role of regulations in driving demand for seamless steel pipes?Stringent regulations have compelled market players to switch to innovative manufacturing methodologies and product development.
- What is the impact of COVID-19 on the demand for seamless steel pipes?COVID-19 had a major impact on the market with manufacturing units closed globally due to imposed lockdowns by regulating authorities, projecting a significant drop in demand in Q1 & Q2 2020.
Enquiry before Buying
- Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
- What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
- Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
- What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
- Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.
- How can I buy this report?
Fact.MR provides a secure online payment system to buy reports seamlessly. You can buy the report securely and safely.
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
About Fact.MR
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise.
Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Fact.MR
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Comments
Post a Comment