Future Market Insights
The global steel pipe market is likely to be driven by it increasing use in countries that are driven by energy. Oil transportation needs to be done through mediums that have resistance to both heat and pressure, such as steel. Based on material type, the global steel pipe market is segmented into stainless steel, carbon steel, tool steel, and alloy steel.
Carbon steel is an alloy of steel and carbon with a very large portion of carbon involved with the making of carbon steel. The tensile strength of the carbon steel is owing to the presence of high proportion of carbon thereby making it extremely hard. Scant quantities of silicon, copper, and manganese are added to the alloy formation.
Carbon steel is utilized extensively in making of the below-mentioned tools
Such wide range of applications of carbon steel supports the growth of the global steel pipe market.
In addition to that, the ductile feature of the alloy makes it useful for application in sheeting and in many structural forms. The malleability of carbon steel renders it ideal for use in precision engineering like wielding and die making. Carbon steel finds wide use in the making of suspensions and girders for construction of bridges.
Carbon Steel is also used in the making of bodies of automobile and framework design owing to its desired properties like malleability, ductility, and tensile strength. In addition to that, building of ships also requires carbon steel, thanks to an array of desired properties that it comes with.
Pipes are a prominent and integral part of every human being’s everyday life, which include transporting water, oil & gas, sewage & sanitation, etc. Steel pipes are one of the types used in the pipe industry for both industrial and housing purposes. Steel pipes are categorised as carbon steel pipe, stainless steel pipes and others. These pipes are mostly used in the water supplying and sewage systems due to its durability and low cost. Carbon steel pipes are usually used in industrial processes involving extreme cold, high heat or for transporting gases, such as steam. Stainless steel has the quality to prevent from oxidation and corrosion, which makes it a widely used material nowadays. One more category that is structural steel pipes, used in the construction industry. Steel pipes are also used in numerous applications that involve the flow of fluid with a closed loop.
Global Steel Pipe Market: Drivers
As the oil and gas industry is growing rapidly, the demand for steel pipes is also increasing. Features such as reliability and durability are some of the prominent factors driving the global demand for steel pipes. Steel pipes have a wide range of usability, they are used in the automotive, mining and construction industries, which drives the manufacturing steel pipe industry. The available range of steel pipes becomes one of the reasons surpassing the demand of residential and non-residential sector of steel pipes. The replacement of ageing pipelines also increases the global demand of steel pipes.
Global Steel Pipe Market: Restraints
Substitutes such as iron and plastic pipes, which create diversions for the manufacturer towards other material pipes, are estimated to restrain the market growth. The corrosive behaviour of carbon steel pipes is one of the restraining factors, and the high cost of stainless steel also hinders the growth of the global steel pipe market.
Global Steel Pipe Market: Segmentation
The global steel pipe market can be segmented on the basis of material type and application:
Based on the material type, the global steel pipe market is segmented as:
Based on the application, the global steel pipe market is segmented as:
Global Steel Pipe Market: Region-wise outlook
Asia Pacific is estimated to have a major share in the global steel pipe market. China has many manufacturers in the steel pipe industry, which makes it a dominating player in the Asia Pacific market. The countries in North America, such as the U.S. and Canada with developed steel manufacturing industries, represent as prominent regional markets. Moreover, the U.S. has produced a wide range of products related to carbon and stainless steel. The U.S. president Mr. Donald Trump also signed a memo for new steel pipelines with the use of U.S.-manufactured raw steel. Based on these factors, the U.S. is estimated to have a hefty market share in the steel pipe market globally. The replacement of ageing pipelines in Europe is expected to gain high market growth over the coming years. Latin America has sluggish growth in the global steel pipe industry market. The Middle East and Africa is estimated to show sustainable growth due to rising oil and gas industries.
Global Steel Pipe Market: Participants
Examples of some of the participants of the global steel pipe market are:
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