Steel Pipe Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2022-2032

It is anticipated that the global steel pipe market is likely to record a valuation of US$ 90,122 Million in 2022. The steel pipe market is expected to expand at an average CAGR of 5.4% and reach US$ 1,51,905 Million by 2032.

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.

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.

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Regional analysis includes:

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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.

Competitive Landscape

How Key Players are Contributing in the Steel Pipe Market?

The steel pipe market has been flooded with new enterprises that provide high-quality items and technologies. Steel tube manufacturers have a huge opportunity to improve operational efficiency, customer satisfaction, inventory levels, and profit margins by incorporating technology.

Key Players:

American Cast Iron Pipe Company
Baosteel Group Corporation
Evraz Plc
Nippon Steel & Sumitomo Metal Corporation
JFE Holdings Corporation
Hyundai Steel Company
TMK Group
United States Steel
Tata Iron and Steel
VALLOUREC
Nucor Corporation

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Key segments

By Material Type:

Carbon Steel
Alloy Steel
Stainless Steel
Tool Steel

By Application:

Automotive industry
Construction and mining
Textile Machinery
Chemicals
Pharmaceuticals
Energy industries
Refinery Petrochemicals
Oil and Gas Processing
Water treatment facilities

By Region:

North America
Latin America
Asia Pacific
MEA
Europe

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.