Seamless Steel Pipes Market Size Share Growth Trends Insights 2022-2029
By: DataM Intelligence
HYDERABAD, India - Dec. 8, 2022 - PRLog -- Industry Overview:
As per the research report by DataM Intelligence, the global seamless steel pipes market size was valued at USD 16.31 billion in 2021; it is projected to reach USD YY billion by 2029, with growth at a CAGR of 7.2% over the forecast period 2022-2029.
The major factor propelling the market's expansion globally is the vast number of sectors in which seamless steel pipes can be used. The pipes' rising popularity is one of their benefits. Seamless steel pipes can sustain high pressures. They are typically produced in factories using hot-worked steel.
The expansion of the global market for seamless steel pipes would be hampered during the forecast period by changes in the price of raw materials. Additionally, the high cost of stainless steel and the corrosive nature of carbon steel pipes both impede the growth of the global steel pipe market.
1. In May 2021, JFE Steel Corporation signed an MoU to perform a Feasibility Study with JSW Steel Limited to build a Grain Oriented Electrical Steel Sheet Manufacturing & Sales Joint-Venture Company in India.
2. In April 2019, ChelPipe received a contract to supply large-diameter pipes to construct a part of the TAPI global gas pipeline by winning a tender to provide over 150,000 tons of LDP to state-owned Turkmengas.
Market Segmentation Analysis:
By Material Type:
China, India, Japan, Australia, and South Korea are vital countries contributing to the high demand for seamless pipes within Asia-Pacific. The growth of the Asia-Pacific market can be attributed to the increasing investments in the infrastructure & construction end-use industry. China produces the most steel pipes in the world thanks to the availability of inexpensive raw materials. Japan Seamless Steel Pipes Market: Japan has a presence of leading players such as Nippon Steel & Sumitomo Metal Corporation, making it a major country in the market.
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Major market players contributing to the expansion include JFE Steel Corporation, Chelpipe, OAO TMK, Tenaris SA, Baosteel Group Corporation, US Steel, TPCO, ArcelorMittal S.A., Voestalpine Tubulars GmbH & Co KG, Weifang East Steel Pipe and Torich International.
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