The Cold Drawn Seamless Steel Pipes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cold Drawn Seamless Steel Pipes Global Market Report 2024, The cold drawn seamless steel pipes market size has grown strongly in recent years. It will grow from $14.02 billion in 2023 to $15.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to oil and gas exploration, automotive industry expansion, energy sector investments, corrosion resistance and durability, booming construction activities, stringent quality standards.
The cold drawn seamless steel pipes market size is expected to see strong growth in the next few years. It will grow to $21 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to growing emphasis on green construction, expansion of the aerospace sector, rapid industrialization in emerging markets, focus on energy efficiency, government investments in infrastructure. Major trends in the forecast period include advancements in manufacturing technologies, strategic mergers and acquisitions, integration in high-tech applications, application in high-pressure systems, development of specialized alloys.
The growth in the oil and gas sector is expected to propel the growth of the cold-drawn seamless steel pipes market going forward. Cold-drawn steel seamless pipes are commonly used in the oil and gas industry as they can handle the transportation of unprocessed raw oil, which requires large tubes for transfer. These pipes are required for offshore and onshore oil casing and tubing and are a reliable and efficient means of transferring oil from one reservoir to another. For instance, in March 2021, according to International Energy Agency, a France-based autonomous intergovernmental organization that shapes energy policies, the global oil demand increased from 42.1 million barrels per day, in 2020 to 44.7 million barrels per day, in 2021, whereas the oil demand in Non-OECD countries also increased gradually to reach 51.7 million barrel per day, in 2021 from 48.9 million barrel per day, in 2020. Further, in July 2022, according to IEA, the global gas demand is set to rise by a total of 140 billion cubic meters (BCM) between 2021 and 2025. Therefore, the growth in the oil and gas sector is driving the growth of the cold-drawn seamless steel pipes market going forward.
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The cold drawn seamless steel pipes market covered in this report is segmented –
1) By Product: Carbon Steel, Alloy Steel, Stainless Steel, Other Products
2) By Production Process: Cross-Roll Piercing And Pilger Rolling, Multi-Stand Plug Mill, Continuous Mandrel Rolling
3) By Application: Precision Instrumentation, Boiler Tubes, Heat Exchanger Tubes, Hydraulic Applications, Fluid Transfer Lines, Rifled Tubes, Bearing Pipes, Mining Applications, Automotive Applications, General Engineering Applications
4) By End-Use Industry: Oil And Gas, Infrastructure And Construction, Power Generation, Automotive, Other End-Use Industries
Product innovations are a key trend gaining popularity in the cold-drawn seamless steel pipes market. Major companies operating in the cold-drawn seamless steel pipes market are focused on developing new innovative products to strengthen their position. For instance, in February 2022, Rhinox, a US-based company that specializes in manufacturing pipes and press fittings, launched hygienic stainless-steel pipes and press fittings that consist of double O-rings with VV-shaped grooves. These stainless-steel tubes are produced using autogenous (fusion) longitudinal gas tungsten welding methods, ensuring the highest quality standards. This material can serve as a substitute for traditional product materials in hygienic drinking water installations.
The cold drawn seamless steel pipes market report table of contents includes:
1. Executive Summary
2.Cold Drawn Seamless Steel Pipes Market Characteristics
3.Cold Drawn Seamless Steel Pipes Market Trends And Strategies
4.Cold Drawn Seamless Steel Pipes Impact ON market Analysis
5.Cold Drawn Seamless Steel Pipes Market Size And Growth
6.Cold Drawn Seamless Steel Pipes Segmentation
7. Cold Drawn Seamless Steel Pipes Regional And Country Analysis
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27.Cold Drawn Seamless Steel Pipes Competitive Landscape And Company Profiles
28.Cold Drawn Seamless Steel Pipes Key Mergers And Acquisitions
29.Cold Drawn Seamless Steel Pipes Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Nippon Steel Corporation
- ArcelorMittal SA
- Jindal Saw Ltd.
- Salzgitter AG
- Tenaris SA
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