According to the latest analysis by Fact.MR, a market research and competitive intelligence provider, the global seamless steel pipes market is estimated at US$ 61.6 billion in 2022 and is anticipated to evolve at a high CAGR of 7% through 2032.
Seamless steel pipe systems offer many advantages over conventional wielded pipes, which include withstanding high pressure making then an ideal candidate for a wide range of applications in pressure vessels, boilers, automobiles, construction, etc. Seamless steel pipes are also used for architectural applications such as building stadiums and large open structures. These pipes provide stability to the roof structure and enhance architectural design.
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- In 2020, Vallourec built an MVR arena in Latin America, with just 1.6 KT of seamless steel pipes.
The use of seamless steel pipe systems has increased significantly in the operations of oil & gas and chemical companies for fluid transmission. Demand for OCTG has increased as a result of increased exploration & production, development of proved shale reserves, and rising investments by oil & gas operators. Manufacturing seamless OCTG requires a larger initial investment as compared to manufacturing welded OCTG, and choosing the right OCTG can reduce risk and expense.
Segmentation of Seamless Steel Pipe Industry Research
- By Process :
- Hot Rolled
- Cold Rolled
- By Coating :
- 3 PE Coating
- FBE Coating
- 3 PP Coating
- By Material :
- Stainless Steel
- Alloy Steel
- Carbon Steel
- Others (Duplex SS etc.)
- By Dimension :
- < 10 Inches
- 10-15 Inches
- > 15 Inches
- By End-use Industry :
- Oil and Gas
- Energy and Power
- Construction
- Automotive
- Chemicals
- Others
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Key Takeaways from Market Study
- The global seamless steel pipes market is projected to expand at a CAGR of 7% and be valued at US$ 122.2 billion by 2032.
- Demand for seamless steel pipes is expected to increase at CAGRs of 7% and 5.9%, respectively, in Europe and North America.
- The oil & gas sector is likely to represent 39.5% market share in 2022.
- The market expanded at 3.3% CAGR from 2017to 2021.
- Under type, carbon steel seamless pipes lead and account for a market valuation of US$ 22.85 billion in 2022.
- China dominated the East Asian market with 78.4% market share in 2022.
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Market Development
Market players are putting their focus on emerging trends in the industry, such as pipes for underground hydrogen storage, to enhance their market presence in the burgeoning field of carbon emission control. Manufacturing industries have begun implementing industry 4.0 as a remedy to produce numerous products, manage resources, and handle materials that used to be a huge challenge, particularly when producing steel-based items for which they required a lot of human work.
Key players are opting for developing advanced coatings with enhanced qualities such as prevention of CO2 corrosion and ensuring increased lifetime and cost optimization of pipe maintenance. In sync with this, major partnerships & acquisitions have been observed in the market. New production plants are being set up, and the production capacities of existing plants are being ramped up.
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