The global demand for steel is steadily increasing and is anticipated to remain positive by the end of 2019. While the robustness of the demand for steel recovery seen in 2017 continued until 2018, the associated risks have also increased. The World Steel Association (WSA) anticipated global demand for steel reaching 1.657.9 million tons (Mt) in 2018, which is a 3.9 percent increase as compared to 2017. It is expected that this demand will reach 1,681.2 Mt by the end of 2019.
In addition to India, the United States, Japan, South Korea, and China were major contributors to the global steel demand. Every consecutive year, India's steel demand is increasing and in 2019, the World Steel Association forecasts India's demand for steel to be able to overcome that of America. In the foreseeable future, India will see the highest growth in Y-o-Y steel consumption.
A number of additional benefits are derived from stainless steel. Greater cryogenic toughness, higher hardness, greater strength and durability, higher ductility and more attractive appearance, and lower maintenance costs compared with normal steel alloys provide greater cryogenic hardness. With all this, one can be surprised that stainless steel has been incorporated in a wide range of industries, including piping.
In piping applications, stainless steel is a common choice. Tubes are generally classified according to their functions, and therefore pipes and tubes are classified in many different shapes and sizes, making it difficult to distinguish. For example, grade 304 of stainless steel is one of the most common alloys in pipes. This is due to its entire resistance to corrosion and other advantages. 304 offers also strong chemical resistance, an additional bonus for materials exposed to large quantities of water, particularly in industrial environments. However, for temperatures above 800 degrees Fahrenheit, 304 grade items, are not suited owing to carbide precipitation. Stainless steel 304L is mostly preferred in such cases.
Stainless Steel Pipes and Tubes Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2025||USD 1.657.9 million|
|Growth Rate||CAGR of 3.9% during 2021-2028|
|Segment Covered||Product, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Key Players Profiled||ThyssenKrupp AG, Tata Steel (TISCO), Tenaris, Pohang Iron & Steel (POSCO), Baosteel Group, CENTRAVIS, TUBACEX S.A, Arcelor Mittal, NIPPON STEEL CORPORATION, Outokumpu, TPCO Enterprise, Inc., Jiuli Group, Sandvik AB, BUTTING Group, Tsinghan Holding Group Co., Ltd., JFE Steel Corporation, AK Steel, and Ratnamani Metals & Tubes Limited.|
Key segments of the global stainless steel pipes and tubes market
Product Overview, 2014-2025 (USD Million) (Kilo Tons)
Application Overview, 2014-2025 (USD Million) (Kilo Tons)
- Oil & Gas
- Food Industry
- Others (Water treatment, cookware, etc.)
Regional Overview, 2014-2025 (USD Million) (Kilo Tons)
- North America
- Asia Pacific
- South America
- South Africa
Reasons for the study
- Stainless steel has become one of the most versatile and popular materials across several applications and industries
- Asia Pacific offers a broad scope for market expansion and is the major market revenue generator depicting fastest growth, followed by Americas and Europe
- Stainless steel is a common choice for piping applications therefore finding wide usage in oil& gas and food industry.
What does the report include?
- This market research report provides an exhaustive outlook of the global stainless steel sector
- Key market trends including driving factors, growth hampering factors, and opportunities have been covered in the report
- Industry value chain structure, Porters five forces analysis, and vendor landscape has also been provided in the study
- Qualitative and quantitative analysis of the market segmented on the basis of product types and applications
- Historic, current, and forecast data is provided for all the market segments for each geography and key countries mentioned in the table of contents
- The study includes detailed profiles of key participants of the market based on product offerings, geographical presence, financial performance and recent initiative
Who should you buy this report?
- The global stainless steel pipes and tubes market study meets the needs for various parties including government and non-government associations, consultants, analysts, researchers and academicians
- The report is also suitable for companies that are currently operating in the market as well as those looking to integrate their operations in the stainless steel pipes and tubes industry
- The study can also help new entrants take informed decisions about venturing into the market
One common use of stainless steel tubes and pipes is in piping, with specific usage of stainless steel pressure pipes. The common alloys for this pipe type belong to the ferritic and austenitic families. Its applications are covered in seamless and welded pipes, large diameter welded pipe and electric fusion welded pipes. These can be useful for corrosive or high-temperature applications, and high-pressure environments.
The need for corrosion-resistant duplex products is steadily increasing with technological innovations in the oil and gas industry. The pressure on duplex and super duplex stainless steel pipes in harsh corrosive environments increases as the exploration depth for offshore oil increases. Tubes are also used for the transportation of fluids in oil and gas applications, but are also frequently used in bearing enclosures, conveyor belt rollers and concrete pilings. In addition, they are also used in oil well casing and tubing. Due to the high quality materials used, tubes are generally more expensive than pipes: mild steel, brass, copper, aluminum, brass, copper, stainless steel or chromium.
Market conditions in steel production are consistently improving gradually in most regions since 2015; however, long term momentum of this movement is uncertain. The demand for steel is recovering, yet it looks rather fragile considering the structural imbalances. Steel prices have continued to escalate in 2018, whereas prices for ferrous scrap, iron ore, and coking coal have marginally declined, after strong growth in 2017. As per the World Steel Association, steel outlook for 2019 and 2020 is positive and growth in demand is anticipated; this shall highlight optimistic scenarios for the global steel pipes and tubes market.
Construction and automotive application dominated the global stainless steel pipes and tubes market in the year 2018, both with a market revenue share of more than 20%. Construction segment is anticipated to show similar trend over the forecast period followed by automotive and chemical segment. Oil & gas is the fastest growing application of stainless steel pipes and tubes followed by other applications which majorly include water treatment operations.
Stainless steel tubes and pipes are used in automotive applications such as tubes for diesel spark plugs, tubes for engine block heating, tubes for diesel particulate filters, tubes for EGR systems, tubes for fuel lines, air conditioning headers, engine cooling systems and supportive tubes for distributors. Other automotive applications of stainless steel tubes and pipes include water pumps / coolant tubes and bypass tubes, water outlet tubes and motor coolant tubes assembly; oil fill tubes; seat components and heat / coolant air management components.
In construction application, pipes and tubes are used in quays, foundations, breakwaters revetments, piles for landslide prevention, buildings, scaffolding, steel towers, columns, etc. Due to its strength, flexibility and corrosion resistance, stainless steel is commonly used in construction application, also included in exterior cladding for large high impact buildings, and interiors. Growing preference for sustainable building also inclines to adoption of stainless steel, as it often comprises 90% recycled metal. Stainless steel also assists in bringing natural light and hence constraint energy consumption.
The demand of stainless steel pipes and tubes is majorly driven by the growing and expanding oil and gas industry, exploration and production of oil and gas, and exponentially growing automobile industry in developing economies. The market is anticipated to witness significant growth, owing to the rising demand and new opportunities in the developing nations of the world. India among the developing nations is expected to offer favorable scope for market expansion over the years ahead.
In 2017, more than 17 million vehicles were produced by North American automotive manufacturers with similar forecasts for the next two years. Currently, there are aggressive regulations in place that require fuel economy to double by 2025, contributing to intense competition as automakers seek to supply lighter vehicles. The Trump administration is working to revise these standards and this effort is likely to reduce the need for intensive lighweighting in post-2021 models. In the U.S., affordable natural gas presents new options for all steel manufacturers to create more efficient products and to expand the market reach for steel pipes and tube products that are essential for the production and increased transmission of domestic energy by producers.
Key players in this market include, ThyssenKrupp AG, Tata Steel (TISCO), Tenaris, Pohang Iron & Steel (POSCO), Baosteel Group, CENTRAVIS, TUBACEX S.A, Arcelor Mittal, NIPPON STEEL CORPORATION, Outokumpu, TPCO Enterprise, Inc., Jiuli Group, Sandvik AB, BUTTING Group, Tsinghan Holding Group Co., Ltd., JFE Steel Corporation, AK Steel, Ratnamani Metals & Tubes Limited.