Seamless Steel Pipes Market

SKU: DMMM2198 | Last Updated On: Aug 17 2022 | Available Formats

Seamless Steel Pipes Market Expected to reach a high CAGR By 2029: DataM Intelligence

Seamless Steel Pipes Market is segmented By Material Type (Alloy Steel Pipes, Stainless Steel Pipe, Carbon Steel Pipes, Others), By Manufacturing Process (Hot Finished Seamless Pipes, Cold Finished Seamless Pipes), By Pressure (High Pressure, Medium Pressure, Low Pressure), By Diameter (Small diameter pipes, Large diameter pipes), By End-User (Oil and Gas Industry, Construction, Automotive, Power Industry, Chemical Industry, Aviation and Aerospace, Industrial Plant Processing, Others ), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Seamless Steel Pipes Market is expected to grow at a CAGR of 3.8% during the forecasting period (2022-2029).

A heated, solid-shaped steel "billet" is pushed over a form to shape it into a hollow tube to create a seamless steel pipe. The seamless pipe is constructed from solid circular billets and has no soldering or joints. The seamless pipe is finished to particular dimensions and pipe diameter standards and ranges in size from 1/8 inch to 26 inch OD.

Oil exploration and drilling, oil & gas transportation, air & hydraulic cylinders, bushings, boilers and the automobile industry are just a few high-pressure applications. The seamless stainless pipe frequently uses applications that need pressure, such as processing equipment, water purification and maritime industries.

Market Dynamics

The global seamless steel pipes market is anticipated to increase due to rising demand from the oil & gas industry and the growing stringent regulations. However, the expansion can be hampered by raw materials price volatility.

The rising stringent regulations

Seamless steel pipes can be found within and under walls in industrial buildings, laboratories and residential complexes. The pipes are used to transfer fluids, including gas and water. Manufacturing businesses have been quite concerned about rising carbon emissions.

Sequestration technology, which involves burying carbon emissions, has been used to reduce these emissions. The requirements have generated interest in seamless steel pipes since they have all these characteristics. The use of seamless pipes in subterranean storage systems is anticipated to result in a boom in demand.

The growing demand from the oil & gas sector

The market is expanding primarily due to increased demand from the oil and gas sector. Due to its increased strength, industrial boiler applications use it more frequently. According to Nippon Steel, a leading boiler manufacturer, seamless steel pipes with excellent efficiency are needed to reduce overall carbon dioxide emissions and protect the environment globally. Its many applications include high-efficiency industrial waste incineration boilers, pressurized fluidized bed boilers, heat recovery steam generators and gas turbine combined cycles.

To retain both high quality and high performance, steel tubes and pipes have been in demand for use in these situations. Because of their strength, longevity and ability to resist corrosion, seamless pipes are preferred to other types. As oil prices rise, so is demand for its effective production, necessitating spending on cutting-edge infrastructure.

Volatility in raw material price

Most commonly employed as a structural component for fluid conveyance, seamless steel pipes are produced from carbon, low-alloy or alloy structural steel. The COVID-19 pandemic caused steel factories to close, which had an impact on steel supply and production. Reduced supply has had a significant impact on raw material prices as well.

The need for steel has also been seen in the construction, oil & gas and automotive industries. However, the steel supply could not keep up with the growing demand due to growing raw material prices. China, one of the world's top steel producers, slapped high export duties on different raw materials. Costs will increase due to rising raw material costs and their volatility.

COVID-19 Impact Analysis

The oil & gas industry has a major impact on the market. Due to the oil price war and the effects of COVID-19, the industry suffered throughout the pandemic. The failure of the production cut deal led to the beginning of the oil price war. Chemical and refined product demand fell due to COVID-19-related travel bans and slowdowns in industrial operations. As a result, oil and gas companies reduced their operating and capital spending, impacting the demand for seamless steel pipes.

On the other hand, market growth is predicted to be gradual over time. The International Energy Agency (IEA) predicts that the global demand for oil pipes will increase by 6.2 percent in 2021, which is 3 percent lower than 2019 levels due to the COVID-19 impact; however, it is estimated to rise in the forecast period.

Segment Analysis

By material, the seamless steel pipes market is segmented into alloy steel pipes, stainless steel pipes, carbon steel pipes and others.

Various benefits of carbon steel pipes

A unique variety of steel called carbon steel has a higher concentration of carbon in its overall composition—roughly 2%. Oil & gas, chemicals and power & energy industries frequently employ seamless steel pipes made of carbon-based materials.

Carbon steel pipes are strong, affordable and readily recyclable compared to other materials. With so many advantages, consumers are drawn to carbon steel seamless pipes, which, with a market share of more than one-third, has contributed to market expansion.

Geographical Analysis

The rise in demand for oil & gas in Asia-Pacific

The market for seamless steel pipes in Asia-Pacific is anticipated to expand at the quickest rate during the estimated period due to rising oil & gas demand, technological advancements, expanding industrialization & infrastructure growth and rising transportation demand. Powerful nations contributing to the strong demand for seamless pipes in Asia-Pacific include China, India, Japan, Taiwan & South Korea.

Asian-Pacific market is predicted to develop, also obvious from the fact that most of the producers of seamless steel pipes are based in the region. Due to their high strength, thermal resistance, corrosion resistance and chemical resistance, seamless pipes are widely utilized in various applications in the infrastructure and construction industries.

Competitive Landscape

The market for seamless steel pipes is expanding and the companies have fierce competition. Businesses make significant investments in new technology. For instance, WSSL (Welspun Specialty Solutions) has an annual production capacity of 18,000 tonnes of seamless stainless steel pipe and tube. The business has made significant investments in cutting-edge infrastructure outfitted with cutting-edge technologies. Large businesses produce seamless steel pipes using their billets, which lowers production costs.

For instance, the Pervouralsk Pipe Plant, a major producer of steel pipes in Europe and Russia, manufactures more than 25,000 common pipe sizes and profiles using more than 200 grades of carbon, alloy and stainless steel; 85% of all seamless pipes are produced using the plant's billets from the Iron Ozone 32 mill.

Another manufacturer on the market that produces seamless steel pipes for the bulk of its uses is ChelPipe. Businesses use their goods in the oil & gas, power, mechanical, construction, agricultural and other industrial sectors. Over 70% of domestic pipelines are built with large-diameter pipes manufactured by ChelPipe. Over 60 million tonnes of LDP were produced overall over the enterprise's existence.

Major global seamless steel pipes market companies include JFE Steel Corporation, Vallourec SA, Chelpipe, OAO TMK, Tenaris SA, Baosteel Group Corporation, US Steel, ArcelorMittal S.A., Voestalpine Tubulars GmbH & Co KG and Weifang East Steel Pipe.

JFE Steel Corporation

Overview: The company was founded in April 2003 due to the combination of Kawasaki Steel's and NKK's steel manufacturing businesses (Nihon Kokan). JFE Steel is a steel producer that uses raw iron ore to create finished goods throughout the entire steel-making process. JFE Steel has among the world's highest production capacities. The business also works to protect the environment by creating high-performance steel materials and reduced-impact ironmaking techniques.

Product Portfolio: JFE Steel has developed a wide range of steel pipe products through relentless technological innovation. The business offers carbon steel and stainless steel items in various sizes and optimized for particular purposes.

Key Development: A prominent pipe producer and steel processor in Indonesia, PT. Steel Pipe Industry Indonesia, Tbk (SPINDO), announced in March 2017 that JFE Steel Corporation and Marubeni-Itochu Steel Inc. (MISI) had bought a combined 2.21 percent of the outstanding shares. JFE Steel owns 1.48 percent of the stock, while MISI owns 0.73 percent.

The equity relationships will be advantageous to all three businesses. In addition to expanding its access to consistent steel supply, SPINDO anticipates growing its sales and market share in Indonesia. To increase sales of goods bearing the JFE Steel brand, JFE Steel and MISI will gain a reliable channel in a developing industry.

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