PUBLISHER: The Business Research Company | PRODUCT CODE: 1429941
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429941
Seamless pipes are solid steel pipes that come in sheet or bar form and are shaped into a solid round configuration. Subsequently, they are heated and cast over a form, such as a piercing rod, to generate a hollow tube or shell. These pipes, known for their lightweight nature, offer advantages such as high-temperature resistance, fatigue resistance, and good impact resistance. They find application in scenarios such as the transportation of water or oil, as well as heavy wall tubing applications capable of withstanding high pressure or performing in extreme environments.
The primary categories of seamless pipes encompass hot finished and cold finished varieties. Hot finished seamless pipes are produced by heating a solid billet or bloom and then punching or piercing it to create a hollow structure. Materials used in their manufacture include steel and alloys, copper and alloys, nickel and alloys, magnesium alloys, and other diverse materials. The production process involves continuous mandrel rolling, the mannesmann plug mill process, cross roll piercing, and pilger rolling. Seamless pipes are employed across various industries, including oil and gas, building and construction, power generation, automotive, aviation, and other diverse applications.
The seamless pipes market research report is one of a series of new reports from The Business Research Company that provides seamless pipes market statistics, including seamless pipes industry global market size, regional shares, competitors with a seamless pipes market share, detailed seamless pipes market segments, market trends and opportunities, and any further data you may need to thrive in the seamless pipes industry. This seamless pipes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The seamless pipes market size has grown steadily in recent years. It will grow from $235.59 billion in 2023 to $245.82 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The expansion witnessed during the historical period can be ascribed to robust economic growth in emerging markets and the rise of government initiatives aimed at bolstering the steel industry and its products, including seamless pipes.
The seamless pipes market size is expected to see steady growth in the next few years. It will grow to $293.81 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The anticipated growth in the forecast period is linked to the burgeoning oil and gas sector, the installation of new transmission pipelines, the continuous expansion of the chemical industry, and the swift pace of industrialization along with the growth in manufacturing industries. Key trends expected during this period involve an emphasis on investing in low-emission furnaces, the development of innovative technological solutions, the expansion of research and development (R&D) facilities, a focus on mergers and acquisitions, and a dedication to creating new and inventive products.
The seamless pipes market is anticipated to experience growth driven by the installation of new transmission pipelines. These pipelines, characterized by large-diameter steel pipes, play a crucial role in transporting crude oil from gathering systems to refining, processing, or storage facilities. Operating at high pressure and temperature, transmission pipelines facilitate the movement of natural gas from compressor stations and storage facilities to regulators, contributing to the expansion of the seamless pipes market. In November 2022, the US Energy Information Administration reported the construction of new transmission pipelines covering approximately 3 million miles of mainline, with ongoing efforts to connect natural gas production areas and storage facilities to consumers. The global installation of these pipelines has significantly propelled the seamless pipes market, ensuring the efficient transportation of natural gas to millions of consumers.
The seamless pipes market has also benefited from favorable government initiatives aimed at promoting its growth. Government actions, programs, or policies have encouraged the development and availability of seamless pipes as raw materials for manufacturers. An example of such initiatives is the agreement between France, Spain, and Portugal in October 2022 to construct an underwater pipeline for transporting hydrogen and natural gas. This project, known as the BarMar pipeline, addresses Europe's energy crisis by temporarily transporting natural gas while accommodating green hydrogen and renewable gases. Additionally, in November 2021, the government of Brazil implemented a 10% reduction in import taxes on various steel products, including tubes and pipes, fostering growth in the seamless pipes market. These governmental measures play a pivotal role in driving the seamless pipes market by supporting technological advancements and addressing specific industry needs.
The seamless pipes market is witnessing a surge in the adoption of technological advancements as a prominent trend. Leading players in the seamless pipes sector are directing their efforts towards the development of innovative products tailored for diverse industries such as oil and gas, hydrogen energy, and others, aiming to fortify their market position. A notable example occurred in July 2021 when TMK Company, a Russia-based seamless pipes manufacturer, collaborated with Gazprom, a state-owned multinational energy corporation in Russia, to introduce smart pipes designed for trunk gas pipelines. This groundbreaking solution represents the world's first technical approach to monitoring and diagnosing the integrity of pipeline infrastructure. Equipped with built-in sensors, these pipes offer real-time updates on the stress-strain behavior of gas pipelines, assessing their remaining service life to avert potential emergencies.
Prominent companies within the seamless pipes market are dedicated to the development of novel and innovative products to maintain competitiveness. In November 2021, Anshan Iron and Steel Group Corporation, a Chinese steel manufacturer, successfully engineered martensitic stainless steel seamless pipes. This product effectively addresses gaps in the Anshan Iron and Steel Group's portfolio, specifically in the realm of high-CO2 corrosion-resistant oil well pipe products. By enhancing the seamless steel tube continuous rolling mill high-alloy steel pipe production process, the innovation resolves challenges associated with the short service life of martensitic stainless steel perforated plugs.
In July 2022, Tenaris, a Luxembourg-based manufacturer specializing in steel pipes and seamless steel pipes, executed a strategic acquisition of Benteler Steel & Tube Manufacturing for $460 million. This move is poised to significantly augment Tenaris's seamless pipe production capacity and bolster its local manufacturing presence in the US market. Benteler Steel & Tube Manufacturing, the acquired entity, is a US-based producer of seamless steel pipes. This strategic transaction underscores the commitment of major players to advancing their capabilities and expanding their market footprint in the dynamic seamless pipes industry.
Major companies operating in the seamless pipes market report are Nippon Steel Corporation, Vallourec SA, Tenaris SA, ArcelorMittal, JFE Holdings, Inc., Sumitomo Corporation, Salzgitter AG, United States Steel Corporation, TATA Steel, Maharashtra Seamless Ltd., Hunan Standard Steel Co., Ltd., Ansteel Group Co., Ltd., Baosteel Trading Co., Ltd., Wuhan Heavy Industry Casting & Forging Co., Ltd., Jiangsu Wujin Stainless Steel Pipe Group Co., Ltd., Jindal Saw Ltd., Sandvik AB, IPP Europe Ltd., Tubos Reunidos S., TMK Group., Zekelman Industries Inc., Zamzam Steel, Santok Steel Corporation, ArcoSteel, AK Steel Holding
North America was the largest region in the seamless pipes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the seamless pipes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the seamless pipes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The seamless pipes market consists of sales of billets, chromium, molybdenum, nickel, and manganese. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Seamless Pipes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on seamless pipes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for seamless pipes? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The seamless pipes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.