Global Steel Pipes And Tubes Market Size, Share, Growth Analysis, By Technology(Seamless, ERW), By Application(Oil & gas, Chemicals), By Material(Alloy Steel, Black Steel), By Type(Line, Standard) - Industry Forecast 2024-2031

Report ID: SQSG15O2004 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 125 | Figures: 77

Global Steel Pipes And Tubes Market News

In October 2022, The Saudi Arabian energy company McDermott Arabia Company Limited (MACL) and Saudi pipe manufacturer Arabian Pipes Company (APC) have signed a supply agreement for steel pipes worth about $120 million. According to the agreement, Arabian Pipes Company will provide oil and gas pipes to MACL for a maximum of 12 months.
In September 2022, with an investment of over $266.3 million, Seah Gulf Special Steel, a joint venture between the Korean company SeAH Changwon Integrated Special Steel Corporation and the Saudi industrial investments firm Dussur, announced it had signed an industrial land allocation agreement with King Salman Energy City (Spark) to build a new steel pipe factory in Dammam.

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Global Steel Pipes And Tubes Market size was valued at USD 160.6 Billion in 2019 and is poised to grow from USD 170.72 Billion in 2023 to USD 278.32 Billion by 2031, at a CAGR of 6.3% during the forecast period (2024-2031).

Global Steel Pipes and Tubes Market is competitive and fragmented. Major Players include ArcelorMittal, United States Steel, Nippon Steel Corporation, Tata Steel, Jindal Steel & Power Ltd. (JSPL) among others. Manufacturers of steel pipes and tubes are implementing cutting-edge techniques to enhance the performance characteristics of steel tubes and stop them from oxidising and rusting. The market has solid partnerships throughout the entire value chain and places a high priority on innovations. Manufacturers are working hard to strategically partner with end users and regional distributors in order to satisfy the needs of a growing consumer base. 'ArcelorMittal (Luxembourg) ', 'Nippon Steel Corporation (Japan) ', 'POSCO (South Korea) ', 'China Baowu Steel Group Corporation Limited (China)', 'JFE Holdings, Inc. (Japan)', 'Tata Steel Limited (India)', 'United States Steel Corporation (US)', 'Nucor Corporation (US)', 'Tenaris S.A. (Luxembourg)', 'Vallourec S.A. (France)', 'thyssenkrupp AG (Germany)', 'Marubeni-Itochu Steel Inc. (Japan)', 'AK Steel Holding Corporation (US)', 'SeAH Holdings Corp. (South Korea)', 'Jiangsu Shagang Group Co., Ltd. (China)', 'EVRAZ plc (UK)', 'Sumitomo Corporation (Japan)', 'TMK Group (Russia)', 'Ratnamani Metals & Tubes Ltd. (India)', 'Wheatland Tube Company (US)'

Steel pipes have a variety of properties, including high dependability and corrosion resistance. Steel pipes are the preferred material for many construction projects, including home and business construction. Steel pipes are also in high demand because they are more commonly used in industrial applications and are less expensive than traditional pipes and tubing.

Global Steel Pipes and Tubes Market to Gain Traction due to Rapid Innovations

Asia‑Pacific region held the highest share in the Global Steel Pipes and Tubes Market in 2021 and is expected to maintain its dominance during the forecast period. Additionally, Asia Pacific steel pipes and tubes market is expected to grow at the fastest CAGR during the forecast period. This can be attributed rising product consumption in the region. Due to the region's extensive manufacturing, petroleum, and petrochemical industries, China, Japan, South Korea, Southeast Asia, and India are the main product consumers.

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Global Steel Pipes And Tubes Market Size, Share, Growth Analysis, By Technology(Seamless, ERW), By Application(Oil & gas, Chemicals), By Material(Alloy Steel, Black Steel), By Type(Line, Standard) - Industry Forecast 2024-2031

Global Steel Pipes And Tubes Market News

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