U.S. 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: SQMIC20C2094 | Region: Country | Published Date: February, 2024
Pages: 260 | Tables: 127 | Figures: 77

U.S. Cold Drawn Seamless Steel Pipes Market Dynamics

U.S. Cold Drawn Seamless Steel Pipes Market Drivers

Growing Adoption in Oil and Gas Sector

Increasing prevalence of seamless steel pipes in oil & gas sector across the nation is key factor expected to drive the growth of the U.S. cold drawn seamless steel pipes market over the forecast period. Rising production of crude oil across United States and growing adoption of these type of pipes is Influencing 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.

U.S. Cold Drawn Seamless Steel Pipes Market Restraint

High Initial Cost Hampering Market Growth

High initial cost required in the development and setups process of steel pipes manufacturing units is key factor projected to restrain the growth of the global cold drawn seamless steel pipes market over the forecast period. Additionally, lack of advanced manufacturing techniques in various low-medium sized economies across the globe is also hampering the expansion and growth of the global market.

U.S. Cold Drawn Seamless Steel Pipes Market Report Snapshots

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U.S. Cold Drawn Seamless Steel Pipes Market size was valued at USD 12 billion in 2019 and is poised to grow from USD 12.97 billion in 2023 to USD 24.19 billion by 2031, growing at a CAGR of 8.1% in the forecast period (2024-2031).

The U.S. cold drawn seamless steel pipes market is highly competitive 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 the growing consumer demand and expand their market reach to stay ahead of its competitors. 'ArcelorMittal North America Holdings', 'Vallourec USA Corp', 'Tenaris USA', 'Nippon Steel Corporation USA', 'JFE Steel America, Inc.', 'TMK IPSCO', 'Plymouth Tube Co.', 'Sandvik Materials Technology', 'Kobe Steel USA Inc.', 'MST - Seamless Tube & Pipe', 'Mannesmann DMV Stainless GmbH USA', 'United States Steel Corporation', 'Wheatland Tube Co.', 'A106 Pipe & Supply Inc.', 'Salem Tube, Inc.', 'TimkenSteel Corporation', 'PTC Alliance', 'Bri-Steel Manufacturing LLC', 'Tubular Steel, Inc.', 'Zekelman Industries Inc'

Increasing prevalence of seamless steel pipes in oil & gas sector across the nation is key factor expected to drive the growth of the U.S. cold drawn seamless steel pipes market over the forecast period. Rising production of crude oil across United States and growing adoption of these type of pipes is Influencing 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.

Rising prevalence of seamless steel pipes across various applications due to is several features 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 as per growing consumer demand and needs is also propelling the market growth.

The United States 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, rapid 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.

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U.S. Cold Drawn Seamless Steel Pipes Market Dynamics

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