United States Steel Tubing Market: Industry Outlook By Drivers, Restraints And 2018 to 2025

Market Overview & Growth Highlights

Steel is one of the most widely used materials, particularly in construction, engineering, white goods, and automobile industries. Besides, steel is also used widely in the manufacturing of electrical motors, power generation (nuclear, conventional fuels and wind), power transmission and railway network combined with gears and engines where it has to be very tough and has to be capable of withstanding high temperatures.

Further, steel is very efficient and can easily be fabricated and formed into different sizes. Using a steel tube of any diameter is easier than that of any other material. Additionally, its mass flow rate is the highest among all other materials which significantly reduces the cost of the tubes and pipes without compromising the flow rate which is one of the major factors to boost the growth of the steel tubing market over the forecast period.

Increasing usage of steel tubing owing to factors such as durability and quality, designing flexibility and low corrosion rate are expected to supplement the growth of the U.S. steel tubing market at a CAGR of 3.0% between the years 2018 and 2025 and is likely to garner USD 7,018.9 Million by the end of 2025 as compared to USD 5,596.0 Million in 2017. Furthermore, the market of the U.S. steel tubing is anticipated to achieve a Y-o-Y growth rate of 4.1% in 2025.

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Market Segmentation Synopsis

By Type

The U.S. steel tubing market has been segmented by type into seamless steel pipe and welded steel pipe, out of which, the welded steel pipe segment is expected to witness highest compound annual growth rate and is showcasing huge potential for the U.S. steel tubing manufacturers to expand and strengthen their business. This is due to the increasing development of oil & gas industries in the country. Moreover, the welded steel pipe segment in the U.S. is expected to achieve Y-o-Y growth rate of 4.4% in 2025 as compared to previous year. Further, the seamless steel pipe segment is estimated to dominate the U.S. steel tubing market owing to the rising demand for seamless steel pipes in various hydro power plants and desalination plants which will positively impact the growth of the overall U.S. steel tubing market over the forecast period i.e. 2018-2025.

By Diameter

The U.S. steel tubing market is divided by diameter into 60-120 mm, 121-180 mm and 181-245 mm. The 60-120 mm segment in U.S. is projected to hold highest market size by the end of 2025 by growing at a CAGR of 3.5% over the forecast period. Additionally, the 60-120 mm steel tubing segment in U.S. is expected to achieve absolute $ opportunity of USD 633.1 Million between 2018 and 2025. Further, the 121-180 mm segment is expected to hold second largest market in U.S. and is predicted to achieve Y-o-Y growth rate of 3.6% in 2025 as compared to previous year.

Competitive Landscape

Some of the affluent industry leaders in the U.S. steel tubing market are U.S. Steel Tubular Products, ArcelorMittal, POSCO, Nucor Corporation, Nippon Steel & Sumitomo Metal Corporation, Zekelman Industries, TMK-Group, Victory Steel and Eagle Tubular Products.

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A number of companies are launching new quality products in the steel tubing market to expand their product portfolio. For instance, the U. S. Steel Tubular Products, a subsidiary of United States Steel Corporation X, +1.77%, introduced USS-LIBERTY TC, the company's newest American-made premium connection to oil and gas customers operating in challenging conditions. This product launch helped the company to expand its product line.

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This release was published on openPR.