Stainless Steel Tubes and Pipes Market Status
Stainless steel pipes and tubes are used widely in several industries for different purposes. Both seamless and welded pipes and tubes are used throughout different industries. They are manufactured using different techniques such as electric arc welding, laser welding, resistance welding, etc. These pipes and tubes are used for different applications such as
- Manufacturing of machines and parts thereof
- Oil drilling
- Oil, heat, liquid, fluid, and gas transmission
- Building and construction
- Storage containers
- Pressure vessels and many more.
Technological changes and research and development can lead to increased use of stainless steel pipes and tubes because big brands like ‘Volkswagen’ have started shifting to the used of stainless steel for car manufacturing purposes from aluminum which will provide benefits like greater strength, durability, lighter weight, and cost-effectiveness.
It is also expected to attract water desalination and distillation industries towards the installation of stainless steel pipes and tubes for the plants. Several companies have already started replacements in their piping systems. Stainless is highly corrosion resistant and responds well to a moist environment, however, chlorides are still a matter of concern but it also offers an opportunity for innovation and development of the stainless-steel industry.
The key distributors of stainless steel are listed below:
- ThyssenKrupp AG,
- Tata Steel (TISCO),
- Pohang Iron & Steel (POSCO),
- Baosteel Group,
- CENTRAVIS, TUBACEX S.A,
- Arcelor Mittal,
- NIPPON STEEL CORPORATION,
- TPCO Enterprise, Inc.,
- Jiuli Group,
- Sandvik AB,
- BUTTING Group,
- Tsinghan Holding Group Co. Ltd.,
- JFE Steel Corporation,
- AK Steel, and
- Ratnamani Metals & Tubes Limited.
The market of stainless-steel pipes and tubes is segmented on the basis of product, application, and geography or regions which is given below:
- Oil & Gas
- Food Industry
- Others (Water treatment, cookware, etc.)
- North America
- the U.S.
- Asia Pacific
- South America
- South Africa
The global demand is expected to increase based on the increase seen in previous years. India is becoming one of the major suppliers of steel along with America, China, Japan, and South Korea.
The most common use of piping is pressure pipes which belong to austenitic and ferritic stainless-steel families. They have a wide variety of applications due to their corrosion-resistant, high temperature, and pressure-resistant characteristics.
The technological innovations are giving rise to the demand for duplex corrosion-resistant products. Because of the high-quality material used to manufacture tubes for high-performance applications they are expensive as compared to pipes.
The stainless-steel market has observed consistent growth since 2015. The price of steel has been increasing every year, however, there has been a marginal decrease in the prices of iron ore, coking coal, and ferrous scrap. The demand for steel is expected to increase and have a positive impact in the year 2018 and 2019.
A significant increase has been observed in the use of stainless steel pipes and tubes by construction and automobile industries which contribute around 20% share of the total market revenue. Oil and gas companies have also shown increased interest and water management companies are also turning their focus to the use of stainless-steel tubes and pipes.
There has been a significant increase in the global demand for stainless steel pipes and tubes in growing industries like the oil and gas and automobile industry. The stainless-steel market is expected to see a significant rise due to the increased interest of several big industries and significantly arising opportunities in the developing countries among which India can be considered the most advantageous for the purpose of market expansion in the coming years.
There has been a significant increase in the interest of vehicle manufacturing to start manufacturing stainless steel cars. This interest can lead to a significant growth opportunity for the stainless steel industry in coming years as new regulations are expected to be put in place in the US which will lower the need for manufacturing lightweight cars.
According to the report and overviews, it has been forecasted that the stainless-steel pipes and tubes industry is expected to see substantial growth and may reach $24.26 Bn by the end of 2025. This expectation is based on the rising interest of significant industries such as oil and gas, automobile water treatment, and construction to replace their systems of production, manufacturing, and construction.
In addition to this, new opportunities arising in developing countries for market expansion are also expected especially in India can also prove beneficial for the industry.