Seamless Steel Pipes Market is poised to expand at a CAGR of close to 7% over the next ten years

Posted April 7, 2022 by amitfactmr

North America and Europe collectively account for a majority of the demand for seamless steel pipes.

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.
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Key Market Segments Covered in Report
Hot Rolled
Cold Rolled
Stainless Steel
Alloy Steel
Carbon Steel
Others (Duplex SS etc.)
3PP Coating
FBE Coating
3PE Coating
< 10 inches
10-15 inches
≥ 15 inches
End-use Industry
Power and Energy
Chemical & Petroleum
Oil and Gas Connections
North America
Latin America
East Asia
South Asia & Oceania
Middle East & Africa
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Crucial insights in the Seamless Steel Pipes Market research:

Underlying macro- and microeconomic factors impacting the growth of the Seamless Steel Pipes Market Basic overview of the Seamless Steel Pipes Market including market definition, classification, and applications.
Scrutinization of each Seamless Steel Pipes Market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend of Seamless Steel Pipes Market across various industries.
Important regions and countries offering lucrative opportunities to Seamless Steel Pipes Market stakeholders.
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Issued By factmr
Country India
Categories Business
Tags asdas , dasd , sdas
Last Updated April 7, 2022