Iron And Steel Pipe And Tube Market Size Is Projected To Reach $229 Billion By 2027, Growing At A CAGR Of 3.2% During The Forecast Period || Nippon, US Steel Tubular Products Inc., Sandvik AB

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Iron And Steel Pipe And Tube Market Size, Growth Rate, And Forecast

The global iron and steel pipes and tubes market size is expected to grow from $194.89 billion in 2022 to $202.84 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global iron and steel pipes and tubes market size is expected to reach $229.78 billion in 2027 at a CAGR of 3.2%.

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Iron And Steel Pipe And Tube Market Drivers

Increasing oil and gas production is expected to propel the growth of the iron and steel pipes and tubes market going forward. Oil and gas sectors include the business segment dedicated to hydrocarbon exploration, data collection, development, drilling, production, gathering, refining, distribution, and transportation. Iron and steel pipes and tubes are used in the oil and gas industry to transport oil, gas, and other liquids safely, as they are incredibly strong and can endure extreme temperatures without any danger of failure or cracking. For instance, in March 2023, according to the Energy Information Administration (EIA), a US-based government organization, oil and gas production increased from 99.4 million barrels per day (b/d) in 2022 to 100.9 million b/d in 2023. Therefore, the increasing oil and gas production is driving the iron and steel pipes and tubes market.

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Iron And Steel Pipe And Tube Market Segments

• By Type: Seamless Pipes And Tubes, Welded Pipes And Tubes

• By Material: Steel And Alloys, Cooper And Alloys, Aluminum And Magnesium Alloys, Nickel And Alloys, Other Materials

• By End-Users: Oil And Gas, Power Generation, Automotive, Aviation, Construction, Process Industry, Other End Users

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the iron and steel pipe and tube market.

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Iron And Steel Pipe And Tube Market Key Players
Major competitors in the iron and steel pipe and tube market are Nippon, US Steel Tubular Products Inc., Sandvik AB, Zaffertec S.L, ArcelorMittal, United Metallurgical Company (OMK), Tubecon, Samuel Associated Tube Group.

The Business Research Company's "Global Iron And Steel Pipe And Tube Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Iron And Steel Pipe And Tube Market Include:
1. Executive Summary
2. Iron And Steel Pipe And Tube Market Characteristics
3. Iron And Steel Pipe And Tube Market Trends And Strategies
4. Iron And Steel Pipe And Tube Market - Macro Economic Scenario
5. Iron And Steel Pipe And Tube Market Size And Growth
………………
27. Iron And Steel Pipe And Tube Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Iron And Steel Pipe And Tube Market
29. Iron And Steel Pipe And Tube Market Future Outlook and Potential Analysis
30. Appendix

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