Cold Drawn Seamless Steel Pipes Market Size, Share, Growth Analysis, By Product(Carbon Steel, Alloy Steel, Stainless Steel, others), By Production Process(Cross Roll Piercing & Pilger Rolling, Continuous Mandrel Rolling, Multi St, Plug Mill), By End-Use(Oil & Gas, Automotive, Power Generation, others), By Application(Precision Instrumentation, Boiler Tubes, Heat Exchanger Tubes, Hydraulic Applications), By Region - Industry Forecast 2024-2031

Globally, Asia Pacific dominated the cold drawn seamless steel pipes market and is expected to maintain its dominance throughout the forecast period. Rapid growth in industrialization and extensive rise in the transportation sectors coupled with the growing oil & gas industry are key factors projected to drive the growth of the regional market. Moreover, a tremendous rise in the construction projects mainly in developing countries including India and China are likely to boost the demand for seamless steel pipes in the region.

The North America market is witnessing growth at fastest CAGR during the forecast period owing to high usage of these pipes in automotive sector applications like automobile exhausts systems, cylinder blocks, liquid storage cylinders, and high-strength fasteners. In addition, high technological advancements and presence of many large market players such as American Piping Products Inc., U.S. Steel Tabular Products Inc., and Chicago Tube and Iron Company are likely to have a positive impact on the demand and growth of the regional market over the coming years. For instance, American Piping Products Inc., announced the expansion of its North Houston Rosslyn steel pipe yard and processing center. The new expansion will add approximately 10 acres to the existing facility.