Press release
Global Steel Tubes Market to Grow on Account of Advancements in the Oil and Gas Industry
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A report by Fact.MR predicts the key trends and opportunities that could surface in the global steel tubes market over the forthcoming years. The report has been written with the intent to equilibrate the forces of market demand and supply in an easy and understandable format.
Demand for Steel Tubes to Flow in From Multiple Sources
The popularity of steel tubes in the constructions industry has emerged as a distinct driver of demand in recent times; galvanised steel tubes have become an indispensable part of several real-estate projects. The advent of industrialization acted as a harbinger of growth within the global market for steel tubes while the swift adoption of advanced construction techniques facilitated market expansion. The strength, resistance, and non-corrosiveness are some of the key traits of steel tubes that have given a launch pad for the growth of the global market. Furthermore, governments across several regions have been focusing on stipulating laws, standards, and regulations for the constructions industry. This has opened a pool of opportunities for the market vendors operating in the global market for steel tubes.
On the flip side, the high cost of steel tubes coupled with the intricacies involved in manufacturing could act as a roadblock to market growth. Besides this, the availability of substitutes in the form of concrete pipes or rubber pipes also poses a threat to the growth of the global market for steel tubes. Nevertheless, the quality and performance of steel tubes is a strong standpoint to convince the consumers into buying these tubes.
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Asia Pacific Endows Commendable Potential for Market Growth
The constructions industry across India and China is in a phase transition from mediocrity to state of the art infrastructure. Owing to this reason, the demand for steel tubes in Asia Pacific has been rising at a rapid pace over the past years. The market for steel tubes in North America has also attracted a huge consumer base on account of the proven efficiency of these tubes, especially amidst the constructions industry circles. The market in Europe is projected to stay relevant due to the large-scale construction projects that are in the pipeline.
Some of the key players in the global market for steel tubes are JFE steel, Arcelor Mittal, , NSSMC, Gerdau, POSCO, Jindal SAW Ltd., Borusan Mannesmann Boru Sanayi ve Ticaret A.S., and Bao Pipes and Tubes.
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