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

Cold Drawn Seamless Steel Pipes Market Drivers

Growing popularity of Seamless Steel Pipes in Oil and Gas Sector

• Rising popularity of seamless steel pipes in oil & gas sector across the nation is key factor expected to drive the growth of the Global cold drawn seamless steel pipes market during the forecast period. Rising production of crude oil across various regions such as United States, Germany, France, China, and India and growing adoption of these type of pipes is fostering the demand for seamless steel pipes. For instance, according to the U.S. Energy Information Administration, in March 2022, 11.7 million barrels/day crude oil was manufactured in the United States. And, United States was the leading producer of oil globally.

Cold Drawn Seamless Steel Pipes Market Restraint

High Cost to Hamper Market Growth

• Volatility in the prices of raw materials included in the manufacturing processes of seamless steel pipes like alloy structural sheet and carbon structural sheet is likely to be the major restraining factor for the global cold drawn seamless steel pipes market during the forecast period. Furthermore, lack of advanced manufacturing techniques in several low-medium sized economies around the globe is also hampering the expansion and growth of the global market.