New York, U.S., May 18, 2022 (GLOBE NEWSWIRE) — Overview of the welded pipe market
According to a comprehensive research report by Market Research Future (MRFR), “welded pipe market Information by Material, Type, Application and Region – Forecast to 2030“, the market is expected to grow at a CAGR of 5.2% CAGR to reach USD 355.69 billion by 2030.
Welded pipes are developed by cold forming a flat sheet, plate or strip into a circular or round shape using a roll or plate bending machine. The pipes are welded using a high energy source. Welded pipes can be created in large sizes without size restrictions.
Market Competitive Landscape:
Well-off companies in the welded pipe market include
- Arcelormittal (USA)
- Evraz Plc (Russia)
- Napsteel (USA)
- Sandvik AB (Europe)
- Steel Tubular Products in the United States (USA)
- Associated Pipeline Contractors Inc (USA)
- Foshan Zhongde Stainless Steel Co. Ltd (Russia)
- Benteler International SA (Europe)
- Samuel Associated Tube Group (Europe)
- Marmon Keystone Canada Inc (USA)
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Covered USP market:
The significant economic boom as well as the growing pressure on urban areas to improve sanitation are forcing governments to implement wastewater management projects. Moreover, the diverse range of applications of welded pipes will present many business opportunities in the near future.
Growing innovations in technologies and advances in wastewater management solutions as well as manufacturing techniques present lucrative opportunities. In addition, favorable government regulations for wastewater management as well as agricultural irrigation will help industry players to gain a higher position in the future.
Oil and gas companies are constantly looking for new gas and oil reserves around the world. In 2019, around 50 million barrels of oil reserves were discovered by Iran. Abu Dhabi has discovered oil deposits of more than 7 million barrels. The most interesting discovery was that of ExxonMobil in Guyana, with an oil deposit planned to house nearly 5 million barrels of oil. With the discovery of oil, major infrastructure, including pipelines, must be put in place for transportation and extraction. This encourages oil and gas companies to partner and collaborate with pipe manufacturers. Hence, the need for infrastructure in line with the discovery of new oil and gas reserves will be a great opportunity for the sellers in the welded pipe market.
It is quite a challenge to monitor the cost of key raw materials since prices often fluctuate. Companies that manufacture welded pipe are unable to discern the risks associated with constantly fluctuating raw material prices. The soaring prices of the raw materials needed to manufacture welded tubes are driving up the price of finished products. This could be a major constraint for the global market in the long run.
Browse the in-depth market research report (140 pages) on welded pipe: https://www.marketresearchfuture.com/reports/welded-pipes-market-7976
COVID 19 analysis
The COVID-19 outbreak has presented a series of problems for the welding market. The pandemic has brought various challenges to the construction sector, including a shortage of raw materials and delayed projects.
Additionally, industry players face issues ranging from inability to secure key raw materials to non-delivery of effective finished products. The market has witnessed volatile prices, unexpected outages and a disrupted supply and demand relationship. However, the global market is expected to remain resilient as lockdown measures are now more relaxed.
Stainless steel, alloy steel and carbon steel are the main materials considered in the report.
Carbon steel has many advantages, including durability, safety, cost-effectiveness, corrosion resistance, and significant tensile strength. These factors have favored the demand for carbon steel welded pipes and the segment is also expected to register a high growth rate in the future.
By product type:
Mechanical tubes, process pipes, structural tubes, hydraulic instrumentation tubes and heat exchanger tubes are the major product types discussed in the report.
Hydraulic and instrumentation tubes are important parts of hydraulic and instrumentation systems that help protect other components, instruments or devices. These tubes help ensure trouble-free and safe operations in petrochemical processing, power generation, oil and gas plants and various critical industrial applications.
Mechanical and engineering, power generation, automotive, oil and gas, and infrastructure and construction are the main applications of welded tubes.
Welded pipes are among the oldest building materials and are used to develop structures due to their durability, resistance to adverse environmental conditions and impressive strength. Welded pipes are widely used in many applications including structural applications, roofing, balustrades and handrails, drainage components and architectural coatings depending on their quality, shape and size.
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North America has seen a solid expansion in the construction sector thanks to rising real estate spending by construction companies. The construction of commercial buildings like offices and complexes has increased in number, with business centers becoming extremely overcrowded, which has created the need for new buildings. The early adoption of many innovative waste management solutions and the strong base of affluent industry players offering a wide range of products are having a significant influence on the welded pipe market. In addition, the massive demand from the mechanical and engineering industry for hydraulic and instrumentation tubing also increases the need for welded tubing. The United States is the biggest winner in the region due to the country’s large pool of highly reputable suppliers.
Europe ranks second in the global market, due to increased rebuilding and renovation of infrastructure, growing environmental concerns and increased preference for cost-effective construction. Apart from this, the surge in unconventional oil and gas exploration activities, including the production of natural gas from shale formations, will also be supportive. The region is experiencing substantial growth in the construction sector, which is mainly visible in the northwestern part comprising countries like France, UK, Netherlands, Belgium and Denmark.
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