Global Stainless Steel Pipes and Tubes Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Stainless Steel Pipes and Tubes Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Stainless steel pipe is a hollow long round steel, mainly used in petroleum, chemical, medical, food, light industry, machinery and instrumentation and other industrial pipelines and mechanical structural parts. In addition, when the bending and torsion strength are the same, the weight is lighter, so it is also widely used in the manufacture of mechanical parts and engineering structures. Also often used as furniture and kitchen utensils.

Market Overview:

The latest research study on the global Stainless Steel Pipes and Tubes market finds that the global Stainless Steel Pipes and Tubes market reached a value of USD 33358.24 million in 2022. It’s expected that the market will achieve USD 46468.64 million by 2028, exhibiting a CAGR of 5.68% during the forecast period.

Influence of COVID-19 Outbreak on Stainless Steel Pipes and Tubes Industry Development

Since the outbreak of the COVID-19 virus in December 2019, the disease has spread to nearly 100 countries around the world, and the World Health Organization has declared it an emergency public health event. The COVID-19 epidemic is infected with a large number of people, and its spread and scope far exceed SARS. At present, the number of confirmed cases in Worldwide has exceeded 27 million. Different industries are affected differently by the epidemic situation. And the COVID-19 epidemic has severely hit the global economy. The World Bank predicts that the global GDP (gross domestic product) will fall by 5.2% in 2020, which is the largest drop since the Second World War.

The impact of the epidemic on the stainless steel pipes and tubes industry will involve all major links and all entities in the industry chain. In order to avoid large-scale population movements and gatherings, various countries have adopted prevention and control measures such as home isolation and extension of the Spring Festival holiday. More and more cities are entering the first-level response state, strictly isolating measures, strictly prohibiting vehicle entry and exit, strictly controlling the flow of personnel, and strictly preventing the spread of the epidemic. This makes it impossible for non-local employees to return or arrive immediately, the number of employees is insufficient, and normal commuting is also severely frustrated, resulting in a large-scale shutdown of production. The road closure and country closure measures adopted by various regions have hindered the transportation of iron ore and chromium as well as nickel raw materials. The existing raw and auxiliary material reserves cannot meet the needs of normal production, and the raw material inventory of most companies cannot maintain production. The industry's start-up load dropped again and again, and market sales dropped sharply. In addition, the raw materials of stainless steel pipes and tubes are mainly iron ore, chromium, and nickel. Under the background of the current epidemic situation, both supply and demand will be suppressed. The supply of raw and auxiliary materials is tight, and it is difficult to deliver products from warehouses. The downstream demand was also affected. Affected by the epidemic, companies have announced delays in resuming work in many places. The start of major steel-using industries such as construction and machinery have been postponed, resulting in a significant decline in downstream steel demand and a rapid increase in stainless steel pipe inventory. Faced with the severe situation, steel companies took the initiative to reduce and restrict production. The price of stainless steel pipes has fallen and the price of iron ore raw materials has risen. Fluctuations in the prices of raw materials and steel also make companies more cautious in production.

Drivers

The Asia-Pacific region has experienced rapid economic development in recent years, and large-scale infrastructure projects and power projects have made great progress. Rapid industrialization and urbanization, population growth, and growth in manufacturing (especially in developing economies) are expected to boost the growth of the construction industry. China and India are the world's leading construction markets. In turn, this is likely to increase product demand. For example, China are accelerating the process of urbanization, and the western development and state-guided housing construction projects will have strong development, which will drive the growth of stainless steel pipe demand. In addition, in emerging regions such as the Asia-Pacific region, increasing vehicles sales coupled with rising demand of energy across the developed and emerging regions is backing the growth in Global Stainless steel pipes and tubes Market. Additionally, increasing number of Hydro power plants and desalination plants is backing the growth of stainless steel pipes and tubes market across various regions. Therefore, the Asia-Pacific region will make rapid progress.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

ThyssenKrupp is one of the major players operating in the Stainless Steel Pipes and Tubes market, holding a share of 2.24% in 2020.
Thyssenkrupp AG manufactures industrial components. The Company produces flat rolled and cast steel, automobile parts, elevators and escalators, machine tools, bearings, nonferrous metals, and plastics. thyssenkrupp develops and manages real estate as well as designs and constructs factories.

Tenaris S.A. manufactures seamless steel pipe products. The Company also provides pipe handling, stocking, and distribution services to the oil and gas, energy, and mechanical industries. Tenaris supplies welded steel pipes for gas pipelines worldwide.

Segmentation Overview:

Among different product types, Welded Pipes and Tubes segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Construction segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Stainless Steel Pipes and Tubes market covered in Chapter 3:

Choo Bee Metal Industries
ThyssenKrupp
Pohang Iron and Steel (POSCO)
CENTRAVIS
Kobe Steel Ltd
Ratnamani Steel and Pipes Ltd
Nippon Steel & Sumitomo Metal (NSSMC)
Tata Steel
Northwest Pipe Company
Jindal Saw Limited
SANDVIK Group
Tenaris
United States Steel Corporation
TUBACEX Group
Arcelor Mittal
China Baowu Steel Group Corp., Ltd.

In Chapter 4 and Chapter 14.2, on the basis of types, the Stainless Steel Pipes and Tubes market from 2018 to 2029 is primarily split into:

Seamless Pipes and Tubes
Welded Pipes and Tubes

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Stainless Steel Pipes and Tubes market from 2018 to 2029 covers:

Oil and Gas
Food Industry
Automotive
Power Industry
Chemical Industry
Construction
Water Treatment
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)