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Steel Pipe Market Recent Industry Trends and Projected Industry Growth, 2027

08-14-2018 08:28 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Steel Pipe Market Recent Industry Trends and Projected Industry

Pipes are a prominent and integral part of every human being’s everyday life, which include transporting water, oil & gas, sewage & sanitation, etc. Steel pipes are one of the types used in the pipe industry for both industrial and housing purposes. Steel pipes are categorised as carbon steel pipe, stainless steel pipes and others. These pipes are mostly used in the water supplying and sewage systems due to its durability and low cost. Carbon steel pipes are usually used in industrial processes involving extreme cold, high heat or for transporting gases, such as steam. Stainless steel has the quality to prevent from oxidation and corrosion, which makes it a widely used material nowadays. One more category that is structural steel pipes, used in the construction industry. Steel pipes are also used in numerous applications that involve the flow of fluid with a closed loop.

Global Steel Pipe Market: Drivers

As the oil and gas industry is growing rapidly, the demand for steel pipes is also increasing. Features such as reliability and durability are some of the prominent factors driving the global demand for steel pipes. Steel pipes have a wide range of usability, they are used in the automotive, mining and construction industries, which drives the manufacturing steel pipe industry. The available range of steel pipes becomes one of the reasons surpassing the demand of residential and non-residential sector of steel pipes. The replacement of ageing pipelines also increases the global demand of steel pipes.

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Global Steel Pipe Market: Restraints

Substitutes such as iron and plastic pipes, which create diversions for the manufacturer towards other material pipes, are estimated to restrain the market growth. The corrosive behaviour of carbon steel pipes is one of the restraining factors, and the high cost of stainless steel also hinders the growth of the global steel pipe market.

Global Steel Pipe Market: Segmentation

The global steel pipe market can be segmented on the basis of material type and application:

Based on the material type, the global steel pipe market is segmented as:

Carbon Steel

Alloy Steel

Stainless Steel

Tool Steel

Based on the application, the global steel pipe market is segmented as:

Automotive industry

Construction and mining

Textile Machinery

Chemicals

Pharmaceuticals

Energy industries

Refinery Petrochemicals

Oil and Gas Processing

Water treatment facilities

Global Steel Pipe Market: Region-wise outlook

Asia Pacific is estimated to have a major share in the global steel pipe market. China has many manufacturers in the steel pipe industry, which makes it a dominating player in the Asia Pacific market. The countries in North America, such as the U.S. and Canada with developed steel manufacturing industries, represent as prominent regional markets. Moreover, the U.S. has produced a wide range of products related to carbon and stainless steel. The U.S. president Mr. Donald Trump also signed a memo for new steel pipelines with the use of U.S.-manufactured raw steel. Based on these factors, the U.S. is estimated to have a hefty market share in the steel pipe market globally. The replacement of ageing pipelines in Europe is expected to gain high market growth over the coming years. Latin America has sluggish growth in the global steel pipe industry market. The Middle East and Africa is estimated to show sustainable growth due to rising oil and gas industries.

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Global Steel Pipe Market: Participants

Examples of some of the participants of the global steel pipe market are:

Arcelor Mittal

American Cast Iron Pipe Company

Baosteel Group corporation

Evraz Plcevraz plc

Anhui Tianda Oil Pipe Company Limited

Hyundai Steel Company

JFE Holdings Corporation

Zekelman Industries

Arabian Pipes Company

Nippon steel & sumitomo metal corporation

TMK Group

United States Steel

VALLOUREC

Steel Authority of India (SAIL)

Tata Iron and Steel,

Jindal Vijaynagar Steel (JVSL),

Essar Steel and Ispat Industries

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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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