Dublin, June 17, 2022 (GLOBE NEWSWIRE) -- The "U.S. Cold Drawn Seamless Steel Pipes Market By Standard (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213), Product Type (MS Seamless Steel Pipes), Production Process, Application, and End-use Industry - Forecasts to 2029" report has been added to ResearchAndMarkets.com's offering.
The U.S. cold drawn seamless steel pipes market is expected to reach $994.3 million by 2029, growing at a CAGR of 7.7% during the forecast period 2022-2029.
The growth of this market is attributed to the increasing demand for seamless pipes in the oil & gas sector. The volatile raw material prices and lower demand in saturated markets are expected to restrain the growth of the U.S. cold drawn seamless steel pipes market.
Increased offshore spending and new oilfield discoveries are expected to create significant growth opportunities for the players operating in this market. However, trade protectionism and the introduction of new substitutes pose challenges to the growth of the market.
Based on standard, the U.S. cold drawn seamless steel pipes market is segmented into ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53, and other standards.
In 2022, the ASTM A335 segment is estimated to account for the largest share of the U.S. cold drawn seamless steel pipes market. The large market share of this segment is attributed to the increasing need for seamless ferritic alloy steel pipes for high-temperature services; its characteristics include higher strength, resistance, elasticity, and hardenability. However, the ASTM A213 segment is expected to register the highest CAGR during the forecast period.
Based on product type, the U.S. cold drawn seamless steel pipes market is segmented into MS seamless steel pipes, hydraulic MS seamless pipes, ERW square & rectangular hollow section pipes, and honed tubes.
In 2022, the MS seamless steel pipes segment is estimated to account for the largest share of the U.S. cold drawn seamless steel pipes market. This segment is also slated to register the highest CAGR during the forecast period. The high growth of this segment is attributed to its increasing use in the construction industry due to its high strength and pressure-bearing capability, growing use in the manufacture of structural parts & mechanical parts, including oil drill pipes, automobile transmission shafts, bicycle frames, and steel scaffolding.
Based on production process, the U.S. cold drawn seamless steel pipes market is segmented into cross-roll piercing & pilger rolling, multi-stand plug mill, and continuous mandrel rolling. I
n 2022, the cross-roll piercing & pilger rolling segment is estimated to account for the largest share of the U.S. cold drawn seamless steel pipes market. However, the continuous mandrel rolling segment is slated to grow at the highest CAGR during the forecast period. The growth of this segment is driven by the increasing need to reduce the outside diameter and wall thickness during production and a surge in the need for hydraulically positioned rolls to achieve high output to cater on mass production lines.
Based on application, the U.S. cold drawn seamless steel pipes market is segmented into precision instrumentation, boiler tubes, heat exchanger tubes, hydraulic applications, fluid transfer lines, rifled tubes, bearing pipes, mining applications, automotive applications, and general engineering applications.
In 2022, the boiler tubes segment is estimated to account for the largest share of the U.S. cold drawn seamless steel pipes market. This segment is also slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing need for boiler tubes in steam boilers, fossil fuel plants, industrial processing plants, and electric power plants. Additionally, the growing demand for boiler tubes from end-use industries boosts the growth of this segment.
Based on end-use industry, the U.S. cold drawn seamless steel pipes market is segmented into oil & gas, infrastructure & construction, power generation, automotive, and other end-use industries.
In 2022, the oil & gas segment is estimated to account for the largest share of the U.S. cold drawn seamless steel pipes market. The large market share of this segment is attributed to the increasing government initiatives & investments and the rising need for upstream operations, including onshore & offshore drilling, general plumbing applications, and midstream operations in the oil & gas industry. However, the power generation segment is slated to register the fastest CAGR during the forecast period.
Market Insights
Market Drivers
- Increasing Demand for Seamless Pipes in the Oil & Gas Sector
Market Restraints
- Volatile Raw Material Prices
- Lower Demand in Saturated Markets
Market Opportunities
- Increased Offshore Spending and New Oilfield Discoveries
Market Challenges
- Trade Protectionism
- Introduction of New Substitutes
Company Profiles (Business Overview, Financial Overview, Product Offering, Strategic Developments)
- ArcelorMittal North America Holdings LLC (U.S.)
- U. S. Steel Tubular Products Inc. (U.S.)
- Chicago Tube and Iron Company (U.S.)
- American Piping Products Inc. (U.S.)
- Bison Stainless Tube, LLC (U.S.)
- Penn Stainless Products Inc. (U.S.)
- Bri-steel Manufacturing (Canada)
- Michigan Seamless Tube, LLC. (U.S.)
- U.S. Metals Inc. (U.S.)
- Industrial Tube and Steel Corporation (U.S.).
Scope of the Report:
U.S. Cold Drawn Seamless Steel Pipes Market, by Standard
- ASTM A179
- ASTM A106
- Grade A
- Grade B
- Grade C
- ASTM A511/A511M
- ASTM A213
- Grade T11
- Grade T22
- Grade T1
- Other Grades
- ASTM A192
- ASTM A209
- Grade T1
- Grade T22
- Grade T11
- Other Grades
- ASTM A210
- Grade A1
- Grade C
- ASTM A333
- Grade 1
- Grade 6
- ASTM A335
- Grade P11
- Grade P22
- Grade P1
- Other Grades
- ASTM A53
- Other Standards
U.S. Cold Drawn Seamless Steel Pipes Market, by Product Type
- MS Seamless Steel Pipes
- Hydraulic MS Seamless Pipes
- ERW Square & Rectangular Hollow Section Pipes
- Honed Tubes
U.S. Cold Drawn Seamless Steel Pipes Market, by Production Process
- Cross-roll Piercing & Pilger Rolling
- Multi-stand Plug Mill
- Continuous Mandrel Rolling
U.S. Cold Drawn Seamless Steel Pipes Market, by Application
- Precision Instrumentation
- Boiler Tubes
- Heat Exchanger Tubes
- Hydraulic Applications
- Fluid Transfer Lines
- Rifled Tubes
- Bearing Pipes
- Mining Applications
- Automotive Applications
- General Engineering Applications
U.S. Cold Drawn Seamless Steel Pipes Market, by End-use Industry
- Oil & Gas
- Infrastructure & Construction
- Power Generation
- Automotive
- Other End-use Industries
For more information about this report visit https://www.researchandmarkets.com/r/ppk8c2
