Research and Technological Innovations to Bolster Developments in Steel Tubes Market

The demand for steel tubes suffered amid the Covid-19 pandemic as the demand and supply slowed down. However, successful vaccine inoculation has meant that manufacturers are looking at the future with tempered optimism.

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Recovery in the automobile industry will be key to future steel tube sales. Considering their value for their extreme strength and resistance for hazardous elements, in extreme temperature and harsh environment, steel tube manufacturers are focussing on innovation, strategical analysis, research and development, joint ventures, collaborations and acquisitions and cost effective methods for occupying their leading space in the sector again.

For instance, in 2018, Tata steel and ThyssenKrupp AG collaborated together for their European steel business to develop it as Europe’s second largest steel company.

In January 2019, TS and MTA Italy announced a joint acquisition of the shares of Saudi Steel Pipe Company for US$141 million.

Also in 2019, Van Leeuwen Pipe and Tube Group collaborated together for acquiring BENTELER Distribution, a part of BENTELER International AG. The collaboration was made for improving its position as a leading pipe distributor and tube materials in Europe.

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On 29 January 2021, European commission under EU merger approved the acquisition of AM InvestCo Italy by Agenzia nazionale of Italy and Arcelor S.A. of Luxembourg.

Steel Tubes Market Dynamics

Incremental Growth of the End-user Industries Trigger Demand for Steel Tubes

Steel tubes find copious applications in a wide range of industrial verticals owing to its extraordinary operational features, such as strength and longevity. The oil & gas industry is likely to witness substantial growth across the world with the increasing energy needs, and this is likely to remain one of the primary drivers for the growth of the steel tubes market. Furthermore, industrial infrastructures are undergoing developments, which is expected to boost demand for steel tubes across the world. Thereby, rapidly expanding industrial sectors worldwide is expected to boost demand for steel tubes in the upcoming years.

Oligopolistic Competition in the Steel Tubes Market Creates a Barrier to Entry for Small Scale Industries

The extraordinarily lucrative growth opportunities in the market have attracted a mounting number of players to enter the market. However, the tier I manufacturers have established a stronger presence across the globe, thereby, holding a large revenue share in the market. In addition, a majority of leading players are also adopting inorganic growth strategies to move up in the competition in the market, which further creates challenges for smaller players to gain a competitive edge in the market.

Availability of Cheaper Alternatives to Steel May Impede Growth

Despite the increased use of steel tubes in residential as well as industrial sectors, end-users are constantly looking for cheaper and more efficient alternatives for steel tubes. Growing availability of iron and plastic is leading to the emergence of iron and plastic tubes in the end-user industries, which are much cheaper than steel tubes. Furthermore, modern designs and characteristics of plastic tubes provide more efficiency in several end-use applications. This may lead to replacing steel tubes with plastic or iron tubes, thereby impeding growth in the upcoming years.

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Competitive Landscape

In order to improve the finishing and other qualitative features of their steel tubes, an American steel production company – Nucor Corporation recently purchased a minority equity position in the parent of Trion Coatings to benefit from its environmentally friendly chrome plating technology. By incorporating the chrome plating technology, the company aims to improve the finishing of steel products, including steel tubes, without harming the environment.

A Japanese manufacturer in the sector– Nippon Steel & Sumitomo Metal Corporation (NSSMC) recently announced that it has agreed to integrate and reorganize its steel pipe & steel tube business with other Japanese manufacturers such as Nisshin Steel Co., Ltd., Nippon Steel & Sumikin Stainless Steel Pipe Co., Ltd. (NSSP), Nisshin Stainless Steel Tubing Co., Ltd., and Nippon Steel & Sumikin Pipe Co., Ltd. (NSPC).

Arcelor Mittal, a Luxemburg-based steel company, recently announced that it has completed the acquisition of Ilva S.p.A. (‘Ilva’), Italian steelworks company to add to its quality assets and expand its presence in the European market.

The Fact.MR report profiles leading players in the market to analyze competitive environment in the market. The report provides critical information about each market player to help readers to understand the recent developments in the market.

The key steel market players featured in the report are

Borusan Mannesmann Boru Sanayi ve Ticaret A.S.
NSSMC
JFE steel
Nucor Corporation
Arcelor Mittal
Jindal SAW Ltd.
American SpiralWeld Pipe Company, LLC
Gerdau
POSCO
Tata Steel
Ansteel
Bao Pipes and Tubes
Liaoyang Steel Tube Co., Ltd
Shagang Group
Hebei Iron and steel
United States Steel (USSC)
AK Pipes and Tubes
Regional Outlook

The burgeoning growth of the steel industry worldwide is providing a boost to growth of the market. North America and Europe are likely to exhibit promising growth opportunities for stakeholders on account of the significant rise in steel production in these regions. Furthermore, recent developments in the end-use industrial sectors in developing countries in the Asia Pacific region is expected to trigger demand for steel tubes in the region. In addition, favorable regulatory framework is welcoming hefty investments by manufacturers in the Asia Pacific region.

Steel tubes market research report offers detailed analysis as well as consists of thoughtful facts and insights along with historical data, which holds data that is industry-evaluated and statistically backed up. The report comprises of projections that are generated with the help of suitable methodologies and a set of hypotheses. In addition, the research report delivers information and study based on market classifications such as industry, end-use and region.

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