Global Cold Drawn Seamless Steel Pipes Market

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

Report ID: SQMIG20C2078 | Region: Global | Published Date: February, 2024
Pages: 281 | Tables: 127 | Figures: 77

Cold Drawn Seamless Steel Pipes Market News

  • In July 2022, ArcelorMittal North America Holdings, announced about their new agreement signed to acquire CSP with an enterprise value of USD 2.2 billion. This acquisition is likely to bring various types of strategic benefits to ArcelorMittal such as expanding of company’s position and adding around 3 million tonnes of high-quality and slab capacity.
  • In May 2021, JFE Steel Corporation, announced that the company has signed an agreement of memorandum of Understanding for conducting a feasibility study with JSW Steel Limited, which is strategic alliance partner for establishing a grain oriented electrical steel sheet manufacturing and sales joint-venture in India.
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Cold Drawn Seamless Steel Pipes Market size was valued at USD 72451.7 million in 2019 and is poised to grow from USD 75859.22 million in 2023 to USD 110824.81 million by 2031, growing at a CAGR of 4.83% in the forecast period (2024-2031).

cold drawn seamless steel pipes market is highly fragmented in nature with the existence of many well-known international and regional market players operating around the globe. Key companies of the market are increasing their investment in research & development activities and introduction to new and innovated product launches to cater to the growing consumer demand and expand their market reach to stay ahead of its competitors. 'ArcelorMittal North America Holdings', 'Nippon Steel & Sumitomo Metal Corporation', 'Tenaris S.A.', 'Vallourec SA', 'JFE Steel Corporation', 'Tata Steel Limited', 'Wheatland Tube Company', 'United States Steel Corporation', 'Sandvik AB', 'Salzgitter AG', 'PTC Alliance Holdings Corp.', 'Mannesmann Stainless Tubes GmbH', 'Zhejiang JIULI Hi-Tech Metals Co., Ltd.', 'Penn Stainless Products, Inc.', 'Marcegaglia SPA', 'Aperam S.A.', 'KME Germany GmbH & Co KG', 'Schoeller Bleckmann AG', 'Pooiasteel Industrial Group', 'Sanyo Special Steel Co., Ltd.'

Rising popularity of seamless steel pipes in oil & gas sector across the nation is key factor expected to drive the growth of the 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.

Increasing adoption of seamless steel pipes across various applications due to is several beneficial characteristics like high strength, longer durability, and corrosion resistance coupled with the growing technological advancements in manufacturing processes are creating lucrative growth opportunities for the market growth. In the last few years, many new and innovated products have been introduced by several large market players as per growing consumer demand and needs is also fueling the market growth.

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.

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Global Cold Drawn Seamless Steel Pipes Market

Report ID: SQMIG20C2078

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