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Market Analysis of Industrial Seamless Steel Pipe Forecast 2021 to 2031 by Fact.MR
Industrial Seamless Steel Pipe Market
Browse Full Report - https://www.factmr.com/report/seamless-steel-pipes-market
Relative high research & development spending to introduce new and advanced coated seamless pipes with improved flow ability and increased life cycle are playing a vital role in developing the overall market.
Increase in demand for cyclical replacements in pipelines from chemical, oil & gas, and power generation companies is one of the prime reasons driving rising demand for seamless steel pipes. Hot rolled seamless steel pipes are highly sought-after across industries and regions, and hold around 3/4 market share.
As per the report published by Fact.MR, the seamless steel pipes market is anticipated to surpass a valuation of US$ 168 Bn in 2021, and is poised to expand at a CAGR of close to 7% over the next ten years.
Key Takeaways from Market Study
Hot rolled seamless steel pipes capture a major portion, and are set to create an absolute $ opportunity of around US$ 117 Bn over 2021-2031.
Among the end-use industries, the oil & gas sector has been the fastest-growing segment, owing to steep rise in consumption of oil & gas and power & energy over the past decade.
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In 2021, North America is set to dominate market revenue; however, by 2031, it is anticipated to lose 177 BPS in its market share.
The market in India and China is expected to rise at around 7% to 8% CAGR through 2031.
Due to the COVID-19 crisis, demand for seamless steel pipes was hit in 2020; decline was observed in the 2nd and 3rd quarters of the year.
“Investing in collaborative R&D will save resources and enhance market growth over the coming years,”
says a Fact.MR analyst.
Winning Strategy
Key players have been investing in research & development to create new, advanced coatings for seamless steel pipes. These enhancements will drive growth of the seamless steel pipes market in the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global seamless steel pipes market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=5626
The study divulges essential insights on the market on the basis of process (hot rolled and cold rolled), material (stainless steel, alloy steel, carbon steel, and others [duplex SS, etc.]), coating (3PE coating, FBE coating, and 3PP coating), dimension (15 inches), and end-use industry (automotive, power & energy, construction, chemicals, oil & gas, and others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
The Industrial Seamless Steel Pipe Market research answers important questions, including the following:
1. Why Industrial Seamless Steel Pipe Market players are focusing on the business expansion in region?
2. Which regulatory authorities have granted approval to the application of Industrial Seamless Steel Pipe Market
3. What are the pros and cons of the Industrial Seamless Steel Pipe Market the environment?
4. Why players are targeting the production of segment?
5. What are the strategies implemented by emerging players in the global Industrial Seamless Steel Pipe Market?
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/5626
The Industrial Seamless Steel Pipe Market report serves the readers with the following data:
• In-depth analysis of supply-side and demand-side trends.
• Direct and indirect impacts of the growth of relevant markets on the Industrial Seamless Steel Pipe Market.
• Importance of segment in various regions.
• Accurate Y-o-Y growth of the global Industrial Seamless Steel Pipe Market.
• Consumption trends among individuals across the globe.
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