Seamless steel pipes
hold huge potential in the global piping industry, with a competitive value
market share over other pipe categories. These pipes are extensively used as
line pipes for the transmission of fluids such as oils and chemicals
North America and Europe collectively account for a majority
of the demand for seamless steel pipes. This is due to the fact that these
regions are home to a considerable number of chemical, power & energy, and
oil & gas industries, and seamless steel pipes play a vital role in all of
these end-use industries.
Relative high research & development spending to
introduce new and advanced coated seamless pipes with improved flow ability and
increased life cycle are playing a vital role in developing the overall market.
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Increase in demand for cyclical replacements in pipelines
from chemical, oil & gas, and power generation companies is one of the
prime reasons driving rising demand for seamless steel pipes. Hot rolled
seamless steel pipes are highly sought-after across industries and regions, and
hold around 3/4 market share.
As per the report published by Fact.MR, the seamless steel
pipes market is anticipated to surpass a valuation of US$ 168 Bn in
2021, and is poised to expand at a CAGR of close to 7% over the next ten years.
Key Takeaways from
Market Study
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“Investing in collaborative R&D will save resources and
enhance market growth over the coming years,” says a Fact.MR analyst.
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Winning Strategy
Key players have been investing in research &
development to create new, advanced coatings for seamless steel pipes. These
enhancements will drive growth of the seamless steel pipes market in the medium-
to long-term forecast period.
Contact Information
Fact.MR
11140 Rockville Pike Suite 400 Rockville, MD
20852
United States
Phone: +1 (628) 251-1583
Find More: https://www.prnob.com/release/show/carbon-seamless-steel-pipe/44577
