Industrial Tubes Market Report 2025

The industrial tubes market size has grown strongly in recent years. It will grow from $646.18 billion in 2024 to $701.38 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to construction and infrastructure development, industrial manufacturing needs, oil and gas exploration, global economic conditions, infrastructure rehabilitation.

The industrial tubes market size is expected to see strong growth in the next few years. It will grow to $1.0 trillion in 2029 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to market competition and innovation, supply chain resilience and efficiency, automotive industry evolution, urbanization and construction projects, environmental regulations and sustainability. Major trends in the forecast period include customization demands, digitalization and smart manufacturing, sustainability focus, rising urbanization, advanced materials usage.

The industrial tubes market size is expected to see strong growth in the next few years. It will grow to $906.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated expansion during the forecast period is a result of factors such as competition and innovation in the market, the resilience and efficiency of supply chains, advancements in the automotive industry, urbanization, and the implementation of construction projects, as well as environmental regulations focusing on sustainability. Key trends expected during this period encompass increased demands for customization, the transition to digitalization and smart manufacturing, a growing emphasis on sustainability, the rise of urban areas, and the utilization of advanced materials.

The growth of the oil and gas industry is anticipated to propel the industrial tubes market. Industrial tubes are crucial for transporting crude oil, refined petroleum, and various fuels efficiently within the oil and gas sector. For example, India's oil refining capacity was reported at 248.9 million metric tonnes per annum (MMTPA) in September 2021, with crude oil production reaching 32.2 MMT in FY22. In the US, crude oil production stood at 348,849 barrels in April 2022, as per the U.S. Energy Information Administration. These statistics highlight the significance of industrial tubes in supporting the operations of the oil and gas industry, driving the demand for such products in the market.

The surge in the manufacturing sector is anticipated to propel the growth of the industrial tubes market in the foreseeable future. Within the manufacturing domain, which encompasses the creation of goods through physical processes employing both labor and machinery, industrial tubes serve diverse purposes. These tubes are instrumental in conveying fluids, providing structural reinforcement, and optimizing material transportation throughout production procedures. As an illustration, based on data from the Office for National Statistics in December 2023, the cumulative value of product sales by UK manufacturers amounted to $546.6 billion (£429.8 billion) in 2022, exhibiting a notable 7% increase from the $510.61 billion (£401.5 billion) recorded in 2021, marking a substantial $36.12 billion (£28.4 billion) uptick. Consequently, the burgeoning manufacturing sector is a key catalyst propelling the demand for the industrial tubes market.

Key players in the industrial tubes market are prioritizing the development of innovative products, such as CO2-reduced steel pipes and tubes, to comply with environmental regulations and minimize their carbon footprint. CO2-reduced steel pipes and tubes are steel products produced through processes that significantly reduce carbon dioxide emissions during manufacturing. For example, in July 2024, The Van Leeuwen Pipe and Tube Group, a Netherlands-based company specializing in steel pipes and pipe and tube applications, introduced the Van Leeuwen Impact brand. This new brand features a range of CO2-reduced steel pipes and tubes sourced from reputable European manufacturers. These products aim to satisfy the growing demand for sustainable solutions across various industrial applications. The Impact brand offerings are versatile and applicable in both the industry and energy sectors, enabling businesses to showcase their commitment to sustainability while achieving their operational objectives.

Major players in the industrial tube market are concentrating on pioneering solutions, specifically eco-friendly steel tubes, to optimize performance and address evolving industry needs. These eco-friendly steel tubes are produced using sustainable practices, significantly reducing environmental impact throughout their manufacturing. For instance, in July 2023, ArcelorMittal, a Luxembourg-based steel manufacturer, introduced innovative steel tubes made from XCarb recycled and sustainably sourced steel. These tubes boast significantly reduced CO2 emissions - up to a remarkable 75% reduction in CO2 equivalent, ranking among the highest rates in the steel tube sector. The utilization of XCarb steel tubes enables customers to significantly decrease their carbon footprint, aligning with decarbonization goals, the Paris climate objectives, and the European Green Deal.

In February 2023, Texas Pipe & Supply, a US-based provider of carbon and stainless steel pipes, fittings, and flanges, acquired Industrial Valco for an undisclosed amount. This acquisition is intended to strengthen Texas Pipe & Supply's market position, expand its product offerings, and enhance service levels and availability for its customers. Industrial Valco is a US-based company that specializes in industrial tubes.

Major companies operating in the industrial tubes market include Sandvik AB, Vallourec S.A., Tenaris S.A., Nippon Steel Corporation, ArcelorMittal S.A., TATA Steel Limited, United States Steel Corporation, Chelpipe Group, Benteler International AG, Jindal SAW Ltd., Hyundai Steel Co., Ltd., Tubacex S.A., Ratnamani Metals & Tubes Ltd., Fine Tubes Ltd., Zekelman Industries Inc., Pennar Industries Limited, Maharashtra Seamless Limited, Nova Tube Inc., Maruichi Steel Tube Ltd., Webco Industries, Inc., Liberty House Group, Essar Steel India Ltd., MRC Global Inc., OAO TMK, Vallourec Deutschland GmbH, Nippon Steel & Sumitomo Metal Corporation, MST Seamless Tube & Pipe, Metal-Matic Inc., Precision Tube Inc.

Industrial tubes are used for transporting solids and fluids. They are part of industrial pipelines that convey water, gas, sewage, and other materials, serving essential functions in industries such as oil and natural gas, power generation, chemical processing, refineries, steel mills, and paper mills.

The main types of industrial tubes include process pipes, mechanical tubes, heat exchanger tubes, structural tubes, and hydraulic and instrumentation tubes. Process pipes are used in piping systems to carry chemicals under pressure or vacuum, defining the value of piping systems used in chemical processes. These pipes are manufactured through seamless and welded processes using materials such as steel and non-steel. They find applications in industries such as oil and gas, petrochemical, automotive, mechanical and engineering, construction, and others.

The industrial tubes market size has grown strongly in recent years. It will grow from $599.06 billion in 2023 to $650.23 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to construction and infrastructure development, industrial manufacturing needs, oil and gas exploration, global economic conditions, infrastructure rehabilitation.

Asia-Pacific was the largest region in the industrial tubes market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global industrial tubes market share during the forecast period. The regions covered in the industrial tubes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial tubes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial tube market consists of sales of steel, copper, titanium, and more. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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