April 25, 2022 7:18 AM ET | Source: Meticulous Market Research Pvt. Ltd. Thorough Market Research Pvt.Ltd
READING, Calif., April 25, 2022 (GLOBE NEWSWIRE) — As per report titled “Market Standard for Cold Drawn Seamless Steel Pipe” (ASTM A179, ASTM A511, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53), product type, manufacturing process, application, end use industry and geography – global forecast until 2029, the cold drawn seamless steel pipe market is expected to grow at an average of 8% by 2029 forecast period, it will reach 22.34 billion US dollars.
Download a free sample report now at https://www.meticulousresearch.com/download-sample-report/cp_id=5266.
Growing demand for seamless pipe from the oil and gas industry is a key driver of the growth of the cold drawn seamless pipe market. In addition, the rising costs of offshore development and the discovery of new oil fields are expected to create significant growth opportunities for players in this market.
However, trade protectionism and the introduction of new alternatives create problems for market growth. In addition, volatile raw material prices, declining demand in a saturated market, and the impact of the COVID-19 pandemic are expected to dampen the growth of the cold drawn seamless steel pipe market.
The outbreak of the COVID-19 pandemic has seriously affected many businesses around the world. Most industries have been hit by supply chain disruptions and labor shortages caused by the lockdown. Factory closures and trade restrictions have also exacerbated existing problems, severely affecting many industries. The closure of manufacturing plants has affected production, resulting in a huge gap between supply and demand. Businesses are starting to rethink their business strategies to generate revenue and recover from losses incurred during the pandemic.
The COVID-19 pandemic has severely impacted most industries such as oil and gas, manufacturing, education, logistics and supply chains, power generation, and automotive. The oil and gas industry has been hit hard, with oil consumption falling to its lowest level in decades due to travel restrictions and a global economic slowdown. With an oil price of $30 a barrel, oil and gas revenues for several major producers have fallen by 50-85% in 2020 compared to 2019, according to the International Energy Agency. In 2020, global oil demand fell by about 8.1 million barrels per day. Travel bans and blockades have affected the demand for oil and gas in India, China, Japan, Russia and Canada, leading to lower oil and gas prices.
Speak to our analysts to understand the impact of COVID-19 on your business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5266
Global lockdowns, falling demand for non-essential goods, and plant closures across several industries have impacted global electricity demand. In 2020, global energy demand will fall by 6% compared to 2019. The decrease in demand for electricity has affected the growth of the electricity industry. In addition, the blockade has affected the global automotive industry, as it relies heavily on auto parts imports from China, India and other developing countries. Similarly, infrastructure and construction have faced severe labor shortages, project suspensions and cancellations, and supply and logistics disruptions. The COVID-19 pandemic has created a gap between supply and demand, resulting in delays in obtaining permits from governments around the world.
Thus, the COVID-19 pandemic has negatively impacted the cold drawn seamless steel pipe market due to sluggish demand from end user industries. However, supportive government policies are helping the global steel industry recover from significant economic and production losses. For example, in March 2022, the United States and Japan agreed to expand coordination covering trade remedies and customs issues, monitor bilateral trade in steel and aluminum, work together to address non-market overcapacity and carbon intensity in these sectors, and review their arrangements annually. . In May 2020, the Government of India announced $265 billion in aid to help the economy recover. Such stimulus packages, announced by governments around the world, are expected to help end-use industries recover by creating demand for cold-drawn seamless steel pipes, thereby stimulating the growth of this market during the forecast period. Other similar trade agreements and government encouragement to adjust the global economy are expected to help cold-drawn seamless steel pipe recover from the negative impact of the COVID-19 pandemic.
In addition, ongoing tensions between Russia and Ukraine have contributed to disruptions in global supply chains. The ongoing conflict could escalate into an economically costly war that will affect global diplomacy, markets and other areas by disrupting steel supplies.
Cold Drawn Seamless Steel Pipe Market Standards (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A192, ASTM A209, ASTM A213, ASTM A210, ASTM A333, ASTM A335, ASTM A53, others), product type (MS seamless steel tubes, MS hydraulic seamless steel tubes, ERW square and rectangular hollow tubes, honed tubes), manufacturing processes (oblique roll piercing and pilger rolling, multi-stand ram mills, continuous mandrel rolling), applications (precision tools), boiler tubes , heat exchanger pipes, hydraulic systems, fluid transmission lines, threaded pipes, bearing pipes, mining, automotive, general engineering), end-use industries (oil and gas, infrastructure and construction, power generation, automotive, other end-use industries). industries of use) and geography. The study also evaluates industry competitors and analyzes the market at the country level.
According to the standard, by 2022, the ASTM A335 segment is expected to hold the largest share of the cold drawn seamless steel pipe market. A large market share in this segment is due to the growing demand for seamless ferritic alloy steel tubes designed for high temperature service, their properties include high strength, resistance, elasticity and hardenability. However, the ASTM A213 segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is due to its increasing use in high temperature systems, especially in boilers and superheaters.
Quick Buy – “Market Standards for Cold Drawn Seamless Steel Pipe (ASTM A179, ASTM A511, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53), Product Type, Production Process, Application, End – Use Industry and Geography – Global Forecast 2029 » Research Report: https://www.meticulousresearch.com/Checkout/86363352
Depending on the type of product, the MS seamless steel pipe segment is expected to hold the largest share of the cold drawn seamless steel pipe market by 2022. This segment is also forecast to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly due to its high strength and pressure-carrying capacity, as well as the growing application in the construction industry for the production of structural and mechanical parts, including drill pipes, automotive drive shafts and steel scaffolding.
In terms of production process, by 2022, the pierced and pilger cross-rolling segment is expected to hold the largest share of the cold-drawn seamless steel pipe market. The large market share of this segment is due to the growing demand for high-quality surface finishes with maximum performance and its advantages, including a uniform macro- and microstructure in the cross-section of forged parts. However, the continuous mandrel segment is expected to register the highest CAGR over the forecast period. The rapid growth of this segment is driven by the growing need to reduce the outer diameter and wall thickness during production, as well as the high demand for hydraulically positioned rolls to achieve high productivity and maintenance of mass production lines.
By 2022, the boiler pipe segment is expected to account for the largest share of the cold drawn seamless steel pipe market. This segment is also forecast to register the highest CAGR during the forecast period. The rapid growth of this segment is due to the growing demand for boiler tubes for steam boilers, fossil fuel plants, industrial process plants and power plants.
Based on the end use industry, by 2022 the oil and gas segment is forecast to account for the largest share of the cold drawn seamless steel pipe market. Much of this segment is driven by growing government initiatives and investment and growing demand for upstream operations, including onshore and offshore drilling, general pipeline applications and oil and gas processing operations in the oil and gas industry. However, the power generation segment is expected to register the highest CAGR over the forecast period. Rapid growth in this segment is driven by growing demand for lower mechanical, tighter tolerances, sectional properties, and improved straightness in bearings, wind turbine components, and nuclear, solar, and coal-fired power plants.
By 2022, the Asia-Pacific region is expected to account for the largest share of the total cold-drawn seamless steel pipe market. This segment is also forecast to register the highest CAGR during the forecast period. High market growth in the Asia Pacific region is driven by industrialization, urbanization, high demand for electricity, government initiatives and developments in the oil and gas industry, and growing demand for seamless cold drawn steel pipe from end users in the power and automotive industries. industries.
The report also includes an extensive assessment of key strategic developments used by leading industry players over the past four years (2019-2021). In recent years, several partnerships and agreements have been established in the cold drawn seamless steel pipe market, which have enabled companies to expand their product range, expand the capabilities of existing products, and take a leading position in the cold drawn seamless steel pipe market. For example, in 2021 Tenaris SA (Luxembourg) signed an agreement with Subsea 7 SA (UK) to provide pipeline and coating services for Equinor’s Bacalhau project 185 km (115 miles) off the coast of São Paulo, Brazil . The agreement includes the supply of 75 kilometers of seamless pipes for risers and flowlines, which will be manufactured at Tenaris’s Dalmine seamless pipe plant in Italy.
In addition, in 2021, American Piping Products (USA) announced the expansion of its Rosslyn steel pipe plant in North Houston and its machining center. The new lease adds approximately 10 acres to an already 20-acre property. The expansion allows the company to store an additional 30% of the total warehouse capacity.
Major players operating in this market include Nippon Steel Corporation (Japan), ArcelorMittal SA (Luxembourg), Jindal Saw Ltd. (India), ISMT Ltd. (India), Salzgitter AG (Germany), Tenaris SA (Luxembourg), JFE Holdings, Inc. (Japan), American Piping Products Inc. (USA), Chicago Tube and Iron Company (USA), United Seamless Tubulaar Private Limited (India), Xiamen Landee Industries Co., Ltd. (China), Hunan Standard Steel Co., Ltd (China), US Steel Tubular Products Inc. (USA), Sunny Steel Enterprise Ltd. (Malaysia) and Bri-steel Manufacturing (Canada).
For a deeper understanding of the market with a detailed table of contents and data, click here: https://www.meticulousresearch.com/product/cold-drawn-seamless-steel-pipes-market-5266
Cold Drawn Seamless Steel Pipe Market by Standards
Cold Drawn Seamless Steel Pipe Market by Production Process
Download a free sample report now at https://www.meticulousresearch.com/download-sample-report/cp_id=5266.
Amid this crisis, Meticulous Research® is continuously assessing the impact of the COVID-19 pandemic on various sub-markets and empowering global organizations to strategize and drive growth for a post-COVID-19 world. Let us know if you would like to evaluate the impact of COVID-19 on any industry here – https://www.meticulousresearch.com/custom-research
Southeast Asia Galvanized Steel Market by Product Type (Hot Dipped Galvanized Steel, Electro Galvanized Steel), Application (Construction, Automotive, Home Appliances, Shipbuilding, Other Applications) and Country – Forecast to 2028
EV Charging Station Raw Material Market by Material Type (Metal and Alloy (Stainless Steel, Carbon Steel, Aluminum, Copper, etc.), Polymer (PC Resin, PC Blend, Elastomer, Polyurethane, TPU)), Application and Type charging – global forecast until 2028
Aerospace & Defense Metal Stamping Market Segmented by Component (Body & Housing, Assemblies, Brackets, Clamps, Cylinders, Electrodes, Fasteners, Relays), Process (Embossing, Flanging) and Material (Aluminum, Steel) – Global Forecasts to 2027 G.
Meticulous Research® was founded in 2010 and merged with Meticulous Market Research Pvt. Ltd. was incorporated in 2013 as a private limited company under the Companies Act 1956. Since its inception, the company has become a leading provider of first-class market intelligence in North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
Our company name defines our services, strengths and values. Since our inception, we have dedicated ourselves to researching, analyzing and presenting key market data with great attention to detail. Through careful primary and secondary research methods, we have created powerful data collection, interpretation and analysis capabilities, including qualitative and quantitative research with the best team of analysts. We develop intelligent and value-driven syndicated market research reports, customized research, rapid research and consulting solutions that are carefully analyzed to meet the challenges of sustainable business growth.
Contact person: Mr. Khushal Bombe Meticulous Market Research Inc. 1267 Willis St, Ste 200 Redding, California, 96001 USA America: +1-646-781-8004 Europe: +44-203-868-8738 Asia-Pacific: +91 744 – 7780008 Email – sales@meticulousresearch. com Visit our website: https://www.meticulousresearch.com/ Connect with us on LinkedIn – https://www.linkedin.com/company/meticulous-research Content sources: https://www.meticulousresearch.com /pressrelease/490/cold-drawn-seamless-steel-pipes-market-2029
Post time: Jan-09-2023