The increasing demand for seamless steel pipes from the oil and gas sector is fueling market growth.

Market Size – USD 66.24 Billion in 2018, Market Growth - CAGR of 3.6%, Market Trends – Expansion of the construction industry in emerging nations.

NEW YORK, May 29, 2019 (GLOBE NEWSWIRE) -- The Global Seamless Steel Pipes Market is forecast to reach USD 88.06 Billion by 2026, according to a new report by Reports and Data.

Seamless steel pipes are pipes with round hollow cross sections that do not have seams. They are generally factory-made using hot working steel. One of the advantages of the pipes is its growing preference. Seamless steel pipes can sustain high pressure. Generally, in welded pipes, the points of welds are the weakest for sustaining pressure, in turn damaging the pressure resistance capability of the pipe. In contrast, seamless pipes are tougher and more pressure resistant.   

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Seamless steel pipes make it easy to calculate pressure ratings, as there is no need to be concerned about the quality of welding. These pipes are also thinner and lighter than welded pipes, thus making it more cost efficient. Growth in pharmaceutical and chemical & fertilizers industries are increasing their demand for seamless steel pipes. Seamless steel pipes have high resistance to corrosive substances that are transported through it. Fluctuations in the price of crude oil is a restraining factor for the growth of the market.

North America is expected to become a substantial region in the oil and gas industry. It is increasing its export of fossil fuels through its sale of “shale oil” reserves. The region also has an advanced chemical industry. These factors enhance the opportunity of the market in the region.

Further key findings from the report suggest

  • Due to its aesthetic appeal, stainless steel is often chosen if pipe must be visible in public or professional settings.
  • Stainless steel is used in the seamless pipes as it provides protection from corrosion. It held a market share of 25% in the year 2018.
  • On the basis of the manufacturing process, the market is segmented into cold drawing manufactured seamless pipes and hot rolling manufactured seamless pipes.
  • Hot rolling manufactured seamless pipes are forecasted to hold the market share of 56% in the year 2026 with a CAGR of 3.3% during the forecast period.
  • Large diameter pipes held a market share of 52% in the year 2018, and small diameter pipes are forecasted to hold a market share of 49% in the year 2026.
  • High-pressure seamless steel pipe is forecasted to hold a market share of 33% in the year 2026 with a CAGR of 3.6% during the forecast period.
  • Transfer of chemical fluids requires a material that is sturdy enough to carry those fluids and not react with the chemicals easily. The chemical industries prerequisite is a pipe that eliminates the probability of leakage, and seamless steel pipes are suitable for the industry.
  • The chemical sector is forecasted to have a CAGR of 4.9% during the forecast period.
  • Asia Pacific dominates the market, with 31% of the market share in the year 2018. Expansion of oil and gas sector, automotive and chemical industry in the region is encouraging the growth of the product in the region.
  • Key participants include ArcelorMittal SA, Nippon Steel & Sumitomo Metal Corporation, Tenaris S.A., JFE Steel Corporation, IPP Europe Ltd., Vallourec AG, Cimco Europe, Zaffertec S.L., Techint Group SpA, and Wheatland Tube Company among others.

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/seamless-steel-pipes-market

Segments covered in the report:

For the purpose of this report, Reports and Data have segmented into the global Seamless Steel Pipes Market on the basis of Product, Manufacturing Process, Diameter, Pressure Rating, End Users, and Region:                      

Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

  • Carbon Steel Pipe
  • Alloy Steel Pipe
  • Stainless Steel Pipe
  • Other

Manufacturing Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

  • Cold drawing manufactured seamless pipes
  • Hot rolling manufactured seamless pipes

Diameter Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

  • Small diameter pipes
  • Large diameter pipes

Pressure Rating Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

  • High Pressure
  • Medium Pressure
  • Low Pressure

End Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)

  • Oil and Gas
  • Power generation
  • Chemical
  • Automotive
  • Aviation and Aerospace
  • Construction
  • Military
  • Industrial Processing Plants
  • Others

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Regional Outlook (Revenue in USD Million; 2016–2026)

  • North America
    • U.S.
  • Europe
    • UK
    • France
  • Asia Pacific
    • China
    • India
    • Japan
  • MEA
  • Latin America
    • Brazil

Browse more reports of Pharmaceutical category at:  https://www.reportsanddata.com/report/category/construction

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