API Pipe Market is Estimated to Grow at a CAGR of 4.62% within the forecast period of 2021 and 2028: Cognitive Market Research

Market Overview:
- API is an American Petroleum Institute safety standard founded in 1919, dedicated for oil and gas operations and procedures. API has developed more than 700 standards to enhance operational safety, environmental protection and sustainability across the industry, especially through these standards being adopted globally. API standards helps to improve operational excellence, ensure compliance and safe practices, and reduces the risks in equipment failure. API Line Pipe is steel pipe majorly used for the transmission of Oil, Gas and Petroleum Distillates. API Pipes are manufactured as per specifications established by American Petroleum Institute (API). It defines the standard for the dimension, physical, mechanical and chemical properties of the steel.

Report Insights:
- Global API Pipe Market is expected to reach USD 1,139.22 Million by the end of 2028, growing at a CAGR of 4.62% between 2021 and 2028.
- Hot Roll Revenue is anticipated to reach at USD 598.32 Million in 2028
Transport Oil Revenue in API Pipe is estimated to reach USD 580.50 Million in 2028.
- Direct Revenue in API Pipe is projected to reach USD 858.68 Million in 2028.
Europe API Pipe market size is expected to USD 311.35 Million in 2028.

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Market Drivers:
- The growing demand for steel pipes for onshore, offshore and sour services
• From the drilling and completion of exploration and production wells to the transportation to refineries as well as in distribution networks carrying hydrocarbon fluids and natural gas, Steel pipe is an integral part of each stage in the oil and gas industry. The situation in which oil and gas companies operate today have become increasingly complex in the quest to find and exploit new reserves, placing extraordinary demands on pipe manufacturers and service providers. Increasing exploration and production (E&P) investment, onshore and offshore drilling activities, offshore construction are the major factors driving the demand of pipes in oil and gas industry.
It is very important to maintain the quality of material use in pipeline because many crucial offshore activities such as drilling relies on onshore pipelines, waste disposal facilities, ports and refineries that endanger public health by polluting the air and water, and threaten wildlife and ecosystems.

Rapid industrialization and the emerging applications
Restraints for API Pipe Market
• Fluctuating raw material prices

Opportunities for API Pipe Market
• Rising automation in oil & gas industries to encourage growth

Cognitive Market Research Company's Research Methodology - https://www.cognitivemarketresearch.com/research-methodology

Market Segmentation:
- Type:
• Hot Roll
Hot rolled steel involves rolling the steel at high temperatures (typically at a temperature over 1700° F), which is above the steel's recrystallization temperature. When steel is above the recrystallization temperature, it can be shaped and formed easily, and the steel can be made in much larger sizes. Hot rolled steel is typically cheaper than cold rolled steel due to the fact that it is often manufactured without any delays in the process, and therefore the reheating of the steel is not required (as it is with cold rolled).

• Cold Roll
Cold rolled steel is essentially hot rolled steel that has had further processing. The steel is processed further in cold reduction mills, where the material is cooled (at room temperature) followed by annealing and/or tempers rolling.

• Cold Drawn

- Application:
• Transport Oil
In oil transportation through pipe, Oil pipelines are made from steel or plastic tubes which are usually buried. Pipelines are one of the safest ways of transporting materials as compared to road or rail. The products carried in liquid pipelines include a wide range of materials. Crude oil systems gather production from onshore and offshore fields, while transmission lines transport crude to terminals, interconnection points, and refineries.

• Transport Gas
Through technical-economical evaluation, natural gas pipeline transportation systems based on semi-traditional construction techniques, high strength steel, high operative gas pressure. API steel pipes are the mostly used pipe system globally. For instance, X80 steel pipes spread worldwide and the number of laid lines continuously increased, thus demonstrating a consolidated trend in adopting X80 steel pipes as a standard solution for high pressure gas transportation

- Distribution Channel:
• Direct
• Indirect

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- API Pipe Manufacturers Profiles/Analysis:
Iteco, Tubacero, IPP Group, Multi Metals India, EUROPIPE, MRC Global, Trio Steel, Omega Steel, Corpac Steel

ITECO Oilfield Supply Group
• Founded in 1997, ITECO is a privately held company headquartered in United Arab Emirates, Middle East. ITECO has been supplying Oil Country Tubular Goods (OCTG) to reputed international exploration and production companies. The company has sales offices in Germany, Middle East, France, UK and India with staff that fluently converse in English, Spanish, German, French, Russian, Filipino (Tagalog), Dutch, Hindi, Greek, Turkish and Japanese. Products offering at ITECO inlcude OCTG (Oil Country Tubular Goods), Line Pipe and Drill Pipe

Tubacero
Founded in 1943, Tubacero is a privately held company headquartered in NUEVO
• LEON, Mexico. The company manufactures and markets steel pipe, which is used to conduct fluids, solids and semi-solids. Tubacero holds API certification since 1959 and was the first manufacturer of longitudinally welded line pipe in the western hemisphere to hold ISO 9002 certification. At the present time, TUBACERO has five plants with a total installed annual capacity of 350,000 metric tons on a 439,961 square meter surface area where carbon steel pipes, are welded longitudinally in diameters of 6.625" to 150", and in wall thickness that range from 0.156" to 2.50".

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Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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