Steel Pipes And Tubes Market Size, Share, Growth Analysis, By Technology(Seamless, ERW, SAW), By Application(Oil & gas, Chemicals, petrochemicals, Automotive & transportation), By Material(Alloy Steel, Black Steel, Carbon Steel, Iron Steel), By Type(Line, Standard, Structural), By Region - Industry Forecast 2024-2031

Steel Pipes And Tubes Market size was valued at USD 160.6 Billion in 2019 and is poised to grow from USD 170.72 Billion in 2023 to USD 278.32 Billion by 2031, at a CAGR of 6.3% during the forecast period (2024-2031).

Steel Pipes and Tubes Market is competitive and fragmented. Major Players include ArcelorMittal, United States Steel, Nippon Steel Corporation, Tata Steel, Jindal Steel & Power Ltd. (JSPL) among others. Manufacturers of steel pipes and tubes are implementing cutting-edge techniques to enhance the performance characteristics of steel tubes and stop them from oxidising and rusting. The market has solid partnerships throughout the entire value chain and places a high priority on innovations. Manufacturers are working hard to strategically partner with end users and regional distributors in order to satisfy the needs of a growing consumer base. 'ArcelorMittal (Luxembourg) ', 'Nippon Steel Corporation (Japan) ', 'POSCO (South Korea) ', 'China Baowu Steel Group Corporation Limited (China)', 'JFE Holdings, Inc. (Japan)', 'Tata Steel Limited (India)', 'United States Steel Corporation (US)', 'Nucor Corporation (US)', 'Tenaris S.A. (Luxembourg)', 'Vallourec S.A. (France)', 'thyssenkrupp AG (Germany)', 'Marubeni-Itochu Steel Inc. (Japan)', 'AK Steel Holding Corporation (US)', 'SeAH Holdings Corp. (South Korea)', 'Jiangsu Shagang Group Co., Ltd. (China)', 'EVRAZ plc (UK)', 'Sumitomo Corporation (Japan)', 'TMK Group (Russia)', 'Ratnamani Metals & Tubes Ltd. (India)', 'Wheatland Tube Company (US)'

Steel pipes have a variety of properties, including high dependability and corrosion resistance. Steel pipes are the preferred material for many construction projects, including home and business construction. Steel pipes are also in high demand because they are more commonly used in industrial applications and are less expensive than traditional pipes and tubing.

Steel Pipes and Tubes Market to Gain Traction due to Rapid Innovations

Asia‑Pacific region held the highest share in the Steel Pipes and Tubes Market in 2021 and is expected to maintain its dominance during the forecast period. Additionally, Asia Pacific steel pipes and tubes market is expected to grow at the fastest CAGR during the forecast period. This can be attributed rising product consumption in the region. Due to the region's extensive manufacturing, petroleum, and petrochemical industries, China, Japan, South Korea, Southeast Asia, and India are the main product consumers.