The global seamless steel tube market is anticipated to grow at a significant CAGR of 3.2% during the forecast period (2022-2028). Seamless steel tubes are generally used in petroleum geological pipes, cracking pipes for the petrochemical industry and boiler pipes, bearing pipes, and structural steel pipes in the automobile and aviation industry. The global seamless steel tube market is growing due to the rising demand from the oil and gas industry. This is because the high efficiency of seamless steel tubes is in demand due to the total carbon emission. The global market is also growing due to their various application such as ultra-supercritical pressure boilers, pressurized fluidized bed boilers, heat recovery steam generators of gas turbine combined cycle, and high-efficiency industrial waste incineration boilers in different industries and are in demand due to their high quality and performance. Additionally, the rising oil prices are leading to the increasing efficiency of advanced infrastructure. The seamless steel tubes are used for the advancement in the infrastructure by the construction of new transmission lines needed to transport oil and gas from drilling sites to customers, and the need for gathering equipment at new drilling sites. These factors are anticipated to propel the growth of the seamless steel tube market in the forecast period.
The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance-
- In February 2022, Maharashtra Seamless Ltd. had acquired 41.82% share in the United Seamless Tubulaar Pvt. Ltd.
- In November 2021, Kirloskar had acquired 51.25% share of ISMT Ltd. through a preferential allotment.
- In November 2021, China Ansteel Group Corp. Ltd. had developd martensitic stainless steel seamless pipes that will help in the continuous rolling mill high-alloy steel pipe production process. This will also overcome the problem of short service of the martensitic stainless steel perforated plug.
- In January 2021, OMK announced its new project on seamless steel tubes and pipes and started installing the equipment.
- In January 2020, Tenaris had acquired IPSCO Tubulars, Inc., the US manufacturer of steel pipe and tubes.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Material Type
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- VALLOUREC, Baosteel Group Hu, JFE Steel Corp., United States Steel Corp., and ArcelorMittal among others.
A full report is available at: https://orionmarketreports.com/global-seamless-steel-tube-market/97871/
Global Seamless Steel Tube Market Report by Segment
By Material Type
- Alloy Steel Tubes
- Stainless Steel Tube
- Carbon Steel Tubes
- Others
By End-User
- Oil & Gas Industry
- Power Industry
- Chemical Industry
- Aviation & Aerospace
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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