Cold Drawn Seamless Steel Pipes Global Market Report 2024

The cold drawn seamless steel pipes market has grown strongly in recent years. It will grow from $14.02 billion in 2023 to $15.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The expansion observed in the historical period can be attributed to various factors, including increased activities in oil and gas exploration, the expansion of the automotive industry, investments in the energy sector, the demand for corrosion resistance and durability in materials, the surge in construction activities, and the implementation of stringent quality standards.

The cold drawn seamless steel pipes market is expected to see strong growth in the next few years. It will grow to $21 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated growth in the forecast period can be linked to several factors, including an increasing emphasis on green construction practices, the expansion of the aerospace sector, rapid industrialization in emerging markets, a heightened focus on energy efficiency, and substantial government investments in infrastructure. Key trends expected in the forecast period involve advancements in manufacturing technologies, strategic mergers and acquisitions, greater integration in high-tech applications, the application of these materials in high-pressure systems, and the development of specialized alloys.

The anticipated growth in the cold-drawn seamless steel pipes market is driven by the expanding oil and gas sector. Cold-drawn steel seamless pipes play a crucial role in the oil and gas industry, particularly in transporting unprocessed raw oil, necessitating the use of large tubes for efficient transfer. These pipes are essential for both offshore and onshore oil casing and tubing, providing a reliable and efficient means of transferring oil between reservoirs. Notably, in March 2021, the International Energy Agency reported a global increase in oil demand from 42.1 million barrels per day in 2020 to 44.7 million barrels per day in 2021. Additionally, non-OECD countries experienced a gradual rise in oil demand, reaching 51.7 million barrels per day in 2021 from 48.9 million barrels per day in 2020. Furthermore, in July 2022, the IEA projected a total increase of 140 billion cubic meters in global gas demand between 2021 and 2025, reinforcing the significant impact of the oil and gas sector on the cold-drawn seamless steel pipes market.

The growth trajectory of the cold-drawn seamless steel pipes market is further fueled by the continuous expansion of the automotive industry. The automotive sector encompasses various economic activities related to the design, development, production, marketing, sale, and maintenance of motor vehicles. This industry places a premium on materials that exhibit high strength, durability, and reliability. Cold-drawn seamless steel pipes are recognized for their superior mechanical properties, including high tensile strength and excellent dimensional precision, making them well-suited for diverse applications within the automotive sector. For instance, as of February 2023, the European Automobile Manufacturers Association reported a global production of 85.4 million motor vehicles in 2022, reflecting a notable 5.7% increase compared to 2021. The continuous expansion of the automotive industry stands as a significant driver for the growth of the cold-drawn seamless steel pipes market.

A prominent trend in the cold-drawn seamless steel pipes market is the emphasis on product innovations, with major companies actively engaging in the development of novel solutions to fortify their market positions. Notably, in February 2022, Rhinox, a US-based company specializing in pipes and press fittings, introduced hygienic stainless-steel pipes and press fittings. This innovative product features double O-rings with VV-shaped grooves and is produced using autogenous (fusion) longitudinal gas tungsten welding methods, ensuring the highest quality standards. These stainless-steel tubes are positioned as substitutes for traditional materials in hygienic drinking water installations, showcasing the industry's commitment to advancing technology and meeting evolving market needs.

Major players in the cold-drawn seamless steel pipes market are focusing on the development of martensitic stainless steel seamless pipes. Martensitic stainless steels, characterized by a predominant martensite microstructure known for its hardness and strength, represent a significant advancement in high-alloy steel pipe production. Anshan Iron and Steel Group Corporation, a China-based steel manufacturing company, achieved a breakthrough in this area in November 2021. Their martensitic stainless steel seamless pipes address challenges related to the short service life of plugs, particularly in high-CO2 corrosion-resistant oil well pipes. Through collaboration with production plants and a focus on composition and process design, the seamless steel pipe research group surpassed production challenges, enhanced plug service life, and set an advanced industry standard. This development holds promise for applications demanding high corrosion resistance in challenging environments, such as the oil and gas industry.

In January 2022, PTC Alliance LLC, a prominent US-based manufacturer and marketer specializing in welded and cold-drawn seamless steel tubing, successfully completed the acquisition of Metal-Matic Inc. The financial details of the transaction remain undisclosed. This strategic acquisition proved instrumental in PTC Alliance's efforts to broaden its range of product offerings and strengthen its customer service capabilities. Metal-Matic, renowned as a US-based manufacturer, specializes in the production of carbon steel tubing and tube-based components. The carbon steel tubing produced by Metal-Matic finds widespread use globally across a diverse spectrum of applications, further enhancing PTC Alliance's market presence and product portfolio.

Major companies operating in the cold drawn seamless steel pipes market report are Nippon Steel Corporation, ArcelorMittal SA, Jindal Saw Ltd., Salzgitter AG, Tenaris SA, JFE Holdings Inc., Hunan Standard Steel Co. Ltd., Sunny Steel Enterprise Ltd., US Steel Tubular Products Inc., United Seamless Tubulaar Private Limited, Xiamen Landee Industries Co. Ltd., Bri-Steel Manufacturing Inc., Tata Steel Limited, PJ Industries Inc., Salem Tube International Limited, American Tube Technology Inc., Bull Moose Tube Company, Central Tube and Bar Inc., Chicago Tube and Iron Company, Dover Tubular Alloys Inc., Federal Steel Supply Inc., HandyTube Corporation, Industrial Tube and Steel Corporation, K-Tube Technologies, Louisiana Steel Company, Marmon/Keystone LLC, McKnight Steel & Tube Co., Mead Metals Inc., Metal Associates Inc., Metalmark Inc.

Asia-Pacific was the largest region in the cold drawn seamless steel pipes market in 2023. North America is expected to be the fastest-growing region in the global cold drawn seamless steel pipes market during the forecast period. The regions covered in the cold drawn seamless steel pipes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cold drawn seamless steel pipes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product variants of cold drawn seamless steel pipes encompass carbon steel, alloy steel, stainless steel, and other specialized types. Carbon steel, a common alloy of iron and carbon, undergoes various production processes such as cross-roll piercing, pilger rolling, multi-stand plug mill, and continuous mandrel rolling. These processes cater to precision instrumentation, boiler tubes, heat exchanger tubes, hydraulic applications, fluid transfer lines, rifled tubes, bearing pipes, mining applications, automotive applications, and general engineering applications.These pipes serve diverse end-use industries such as oil and gas, infrastructure and construction, power generation, automotive, and others.

The cold drawn seamless steel pipes market research report provides cold drawn seamless steel pipes market statistics, including cold drawn seamless steel pipes industry global market size, regional shares, competitors with a cold drawn seamless steel pipes market share, detailed cold drawn seamless steel pipes market segments, market trends and opportunities, and any further data you may need to thrive in the cold drawn seamless steel pipes industry. This cold drawn seamless steel pipes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cold drawn seamless steel pipes market consist of sales of steel pipes with grade A, grade B and grade C standards. 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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