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Steel Tubes Market Is Projected To Increase From A Valuation Of US$ 114.8 Billion By 2032

10-27-2023 02:15 PM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Steel Tubes Market Is Projected To Increase From A Valuation

Numerous industries, including as construction, oil and gas, automotive, and industry, employ steel tubes. They are a well-liked option for numerous industries because of their strength, adaptability, and longevity. According to a survey by Fact.MR, the size of the worldwide steel tubes market was estimated at USD 153.5 billion in 2020 and is projected to increase at a CAGR of 6.2% from 2021 to 2031. The rising demand for steel tubes in the construction and oil and gas industries is the main factor driving the market expansion.

The construction industry is the largest end-user of steel tubes, which are used in building structures, pipelines, and HVAC systems. The oil and gas industry also uses steel tubes for drilling and production operations. In addition, the automotive and industrial industries use steel tubes for various applications such as exhaust systems, heat exchangers, and hydraulic systems.

๐——๐—ผ๐˜„๐—ป๐—น๐—ผ๐—ฎ๐—ฑ ๐—™๐—ฟ๐—ฒ๐—ฒ ๐—ฆ๐—ฎ๐—บ๐—ฝ๐—น๐—ฒ ๐—–๐—ผ๐—ฝ๐˜† ๐—ผ๐—ณ ๐˜๐—ต๐—ถ๐˜€ ๐—ฅ๐—ฒ๐—ฝ๐—ผ๐—ฟ๐˜ - https://www.factmr.com/connectus/sample?flag=S&rep_id=480?PJ

The Asia-Pacific region is the largest market for steel tubes, accounting for more than 50% of the global market share in 2020, according to the same report by Fact.MR. This can be attributed to the rapid urbanization and infrastructure development in countries such as China and India. North America and Europe are also significant markets for steel tubes, driven by the demand from the oil and gas and construction industries.

Some of the key players in the steel tubes market include ArcelorMittal, Nippon Steel Corporation, Tenaris S.A., Tata Steel, and JFE Steel Corporation. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to expand their market share and meet the growing demand for steel tubes in various industries

๐—ž๐—ฒ๐˜† ๐—ฆ๐—ฒ๐—ด๐—บ๐—ฒ๐—ป๐˜๐˜€ ๐—–๐—ผ๐˜ƒ๐—ฒ๐—ฟ๐—ฒ๐—ฑ ๐—ถ๐—ป ๐—ฆ๐˜๐—ฒ๐—ฒ๐—น ๐—ง๐˜‚๐—ฏ๐—ฒ๐˜€ ๐—œ๐—ป๐—ฑ๐˜‚๐˜€๐˜๐—ฟ๐˜† ๐—ฅ๐—ฒ๐˜€๐—ฒ๐—ฎ๐—ฟ๐—ฐ๐—ต

๐—ฆ๐˜๐—ฒ๐—ฒ๐—น ๐—ง๐˜‚๐—ฏ๐—ฒ๐˜€ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ฏ๐˜† ๐—ฃ๐—ฟ๐—ผ๐—ฑ๐˜‚๐—ฐ๐˜ :
Seamless Steel Tubes
Welded Steel Tubes

๐—ฆ๐˜๐—ฒ๐—ฒ๐—น ๐—ง๐˜‚๐—ฏ๐—ฒ๐˜€ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ฏ๐˜† ๐— ๐—ฎ๐˜๐—ฒ๐—ฟ๐—ถ๐—ฎ๐—น :
Carbon Steel Tubes
Stainless Steel Tubes
Alloy Steel Tubes
Others

๐—ฆ๐˜๐—ฒ๐—ฒ๐—น ๐—ง๐˜‚๐—ฏ๐—ฒ๐˜€ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ฏ๐˜† ๐—˜๐—ป๐—ฑ ๐—จ๐˜€๐—ฒ :
Oil & Gas
Mining
Petrochemicals
Construction
Automotive
Others

๐—ฆ๐˜๐—ฒ๐—ฒ๐—น ๐—ง๐˜‚๐—ฏ๐—ฒ๐˜€ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ฏ๐˜† ๐—ฅ๐—ฒ๐—ด๐—ถ๐—ผ๐—ป:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

๐—–๐—ผ๐—บ๐—ฝ๐—ฒ๐˜๐—ถ๐˜๐—ถ๐˜ƒ๐—ฒ ๐—Ÿ๐—ฎ๐—ป๐—ฑ๐˜€๐—ฐ๐—ฎ๐—ฝ๐—ฒ ๐—ผ๐—ณ ๐—ฆ๐˜๐—ฒ๐—ฒ๐—น ๐—ง๐˜‚๐—ฏ๐—ฒ๐˜€ ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜

Steel tube manufacturers are adopting advanced processes to improve the performance characteristics of steel tubes and prevent them from oxidation and rusting.

Some of the players are concentrating on fulfilling a need of particular customers. With a strong emphasis on innovations, the market has strong partnerships across the whole value chain. To meet the needs of a growing consumer base, manufacturers are striving to strategically collaborate with end users and local distributors.

For instance :

Arcelor Mittal, a Luxemburg-based steel company, completed the acquisition of Ilva S.p.A. ('Ilva'), an Italian steel company, to add to its quality assets and expand its presence in the European steel tubes market.

๐—ž๐—ฒ๐˜† ๐—–๐—ผ๐—บ๐—ฝ๐—ฎ๐—ป๐—ถ๐—ฒ๐˜€ ๐—ฃ๐—ฟ๐—ผ๐—ณ๐—ถ๐—น๐—ฒ๐—ฑ

Nippon Steel & Sumitomo Metal
Nucore Corporation
Arcelor Mittal
Jindal SAW Co., Ltd.
POSCO
tata steel
Gerdau
Unsteel
bao pipe and tube
Liaoyang Steel Pipe Co., Ltd.
Sha steel group
Hebei Steel
United States Steel (USSC)
AK pipe and tube

"๐—š๐—ฟ๐—ผ๐˜„๐—ถ๐—ป๐—ด ๐—จ๐˜€๐—ฎ๐—ด๐—ฒ ๐—ผ๐—ณ ๐—ฆ๐˜๐—ฒ๐—ฒ๐—น ๐—ง๐˜‚๐—ฏ๐—ฒ๐˜€ ๐—ถ๐—ป ๐—ฉ๐—ฎ๐—ฟ๐—ถ๐—ผ๐˜‚๐˜€ ๐—œ๐—ป๐—ฑ๐˜‚๐˜€๐˜๐—ฟ๐—ถ๐—ฎ๐—น ๐—ฃ๐—ฟ๐—ผ๐—ฐ๐—ฒ๐˜€๐˜€๐—ฒ๐˜€ ๐——๐—ฟ๐—ถ๐˜ƒ๐—ถ๐—ป๐—ด ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—š๐—ฟ๐—ผ๐˜„๐˜๐—ต"

According to Fact.MR, a market research and competitive intelligence provider, demand for steel tubes is projected to rise at a CAGR of 2.1% from 2022 to 2032.

Steel tubes and steel pipes are among the most commonly used components in a wide range of industrial sectors, such as construction, mining, oil & gas, and manufacturing industries. Steel tubes are used in various industrial processes, such as carrying high-temperature fluids and gases, which is driving the steel pipes & tubes market growth.

Steel tubes find many applications in a wide range of industrial verticals owing to their extraordinary operational features, such as strength and longevity. Industrial infrastructures are undergoing developments, which are expected to boost demand for steel casing pipes across the world. Thereby, rapidly expanding industrial sectors worldwide are expected to boost demand for steel tubes over the coming years.

The substitution of modern steel tubes for traditional pipes and tubes is another factor fueling the growth of the steel tubes market. Due to the tremendous growth in the worldwide building, engineering, and large-scale industries, the market for steel tubes is also developing significantly. As a result, the market's demand for steel tubes is rising.

๐—–๐˜‚๐˜€๐˜๐—ผ๐—บ๐—ถ๐˜‡๐—ฒ ๐˜๐—ต๐—ถ๐˜€ ๐—ฟ๐—ฒ๐—ฝ๐—ผ๐—ฟ๐˜ ๐—ณ๐—ผ๐—ฟ ๐˜†๐—ผ๐˜‚๐—ฟ ๐˜€๐—ฝ๐—ฒ๐—ฐ๐—ถ๐—ณ๐—ถ๐—ฐ ๐—ฟ๐—ฒ๐˜€๐—ฒ๐—ฎ๐—ฟ๐—ฐ๐—ต ๐˜€๐—ผ๐—น๐˜‚๐˜๐—ถ๐—ผ๐—ป -https://www.factmr.com/connectus/sample?flag=RC&rep_id=480?PJ

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E Mail : sales@factmr.com

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

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