Press release
Steel Tubes Market is Predicted to Reach USD 122.19 Billion by 2035, Expanding at a CAGR of 2.1% | Fcat.MR
Steel Tubes Market
In 2024, the steel tube industry saw modest advancements, driven by macroeconomic stabilization and rebound trends specific to sectors. According to Fact.MR analysis, industrial production within the construction and energy-intensive sectors was back in sync with pre-pandemic cycles, thereby bringing about modest yet consistent growth in steel tube usage.
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Segment-wise Analysis
By Material
The most profitable segment will be the carbon steel tubes with a growth of 2.2% CAGR from the forecast period 2025 to 2035. These tubes hold maximum global demand due to their superior performance in the key industries such as construction, automobile, and energy infrastructure.
By Product
The seamless steel tubes segment is anticipated to be the most rewarding in this segment, at a CAGR of 2.3% in the forecast years 2025 to 2035. The tubes are widely used in critical applications with high pressure and temperature requirements like oil drilling, power plants, petrochemical plants, and aerospace systems.
By End Use
The oil & gas industry will be the most lucrative in this segment, growing at a CAGR of 2.5% over the forecast period 2025 to 2035. This sector has the maximum usage worldwide, with seamless types being extensively utilized in casing, tubing, and pipeline systems.
Country-wise Insights
In the US, the market is expected to register a CAGR of 2.3% during the forecast period of 2025-2035. This growth is due to consistent demand in major sectors like oil & gas, automotive, and infrastructure. The US has seen a healthy revival in domestic manufacturing, especially for high-strength pipe tubing for pipelines, industrial building, and heavy-duty freight. Projects associated with the Infrastructure Investment and Jobs Act are driving demand for corrosion-resistant solutions in water, gas, and energy infrastructure.
UK sales are anticipated to post a CAGR of 1.8% during the forecast period. The market is still performing in a decarbonization regulation and post-Brexit trade adjustment environment. In spite of these challenges, the nation has a strong demand for tubing in public infrastructure rehabilitation, such as gas pipes and district heating networks. National transition initiatives to hydrogen-based energy also generate medium- to long-term opportunities.
The market is forecast to rise at a CAGR of 1.9% in France during the review period. The energy transition strategy of France is significantly influencing demand prospects. The maintenance of nuclear facilities and upgradation of hydropower projects are drawing significant investment, calling for high-performance tubular structure. Modernization of the transportation network, i.e., the metro and rail upgrades, by the country is also adding to demand.
In South Korea, the market is projected to grow at a CAGR of 2.4% between 2025 and 2035. Shipbuilding, autos, and electronics are major segments where the country's industrial export is highly intertwined with the industry. Tubing plays a very important role in ship construction, auto frames, and offshore equipment-all sectors in which Korean companies are world class.
Competitive Landscape
The steel tubes market is moderately consolidated with the leadership of internationally integrated companies like Tenaris, ArcelorMittal, and Vallourec, supported by an agile pool of regional producers, particularly in Asia-Pacific and Latin America. As much as the leading companies control seamless tube manufacturing for mission-critical applications, local players continue to hold some ground in construction and general engineering applications that are sensitive to price, making the competition more furious in localized hotspots.
Market leaders are investing in product specialization, green steel technology, and strategic capacity growth to remain competitive. Seamless tube quality, corrosion resistance, and energy-efficient manufacturing have become key differentiators. Mergers, acquisitions, and cross-border alliances are being utilized to diversify portfolios and build global presence.
In 2024, Cleveland-Cliffs purchased Canadian steel producer Stelco Holdings, further solidifying its dominance in flat-rolled steel and downstream tubular products in North America. Zekelman Industries, via its subsidiary Atlas Tube, invested USD 120 million to build new galvanizing capacity in Arkansas, growing supply for construction-grade tubular products. In August 2024, ArcelorMittal purchased a 27.5% stake in Vallourec from Apollo Global Management for USD 955 million, marking a strategic entry into high-value seamless solutions for energy use.
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Key Players
Nucor Corporation
Jindal SAW Ltd.
POSCO
Gerdau
Ansteel
Bao Pipes and Tubes
Jiaoyang Steel Tube Co., Ltd.
Shagang Group
Hebei Iron and Steel
United States Steel Corporation (USSC)
AK Pipes and Tubes
ChelPipe Group
EVRAZ North America
Salzgitter AG
Steel Tubes Market Segmentation
By Material:
Carbon Steel Tubes
Stainless Steel Tubes
Alloy Steel Tubes
Others
By Product:
Seamless Steel Tubes
Welded Steel Tubes
By End Use:
Oil & Gas
Mining
Petrochemicals
Construction
Automotive
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
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