Global Stainless-Steel Pipes and Tubes Market Size To Expand Significantly During 2021-2026

May 12, 2022

According to the research report titled ‘Global Stainless Steel Pipes and Tubes Market (Value, Volume) - Analysis By Product Type (Welded, Seamless), End User, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global stainless steel pipes and tubes market was worth USD 28.98 billion in 2020 and is anticipated to garner notable returns by the year 2026.

The expansion of global stainless-steel pipes and tubes market is attributed to rising energy demand, escalating car production, surging construction activities across the world, and increasing oil & gas production.

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For the unversed, steel pipes are utilized to transfer liquid and gas. When choosing pipes for specific purposes, ductility, inner diameter, pressure rating and yield strength are some of the most important elements to consider.

However, the product demand is being stifled by the global economic slump, which has hampered the industry outlook in the recent past. The advent of COVID-19 pandemic has influenced an array of sectors like manufacturing, oil & gas, automotive among others, by disrupting the supply chain and logistics activities, which in turn has impeded the market size in the recent past.

Based on product type, global stainless-steel pipes and tubes industry is bifurcated into seamless, and welded. In terms of end-user, the market is branched into water & wastewater, oil & gas, industrial & power, automotive, civil construction, and others.

Regionally, North America (U.S., Canada. Mexico), Asia Pacific (India, China, Japan, South Korea) Europe (Germany, Italy, France, UK), and Middle East & Africa are thoroughly examined to discover opportunities and understand the ever-changing industry dynamics.

Speaking of competitive hierarchy, United States Steel Corporation, Sandvik AB, Tubacex Group, Northwest Pipe Company, Jindal Saw Ltd., Kobe Steel Ltd., Choo Bee Group, Ratnamani Metals & Tubes Ltd., Tata Steel Limited, and ArcelorMittal S.A are the leading competitors of worldwide stainless-steel pipes and tubes marketplace.

Manufacturers are eager to create stainless steel welded pipes that are suited to specific industries. To meet the specialized needs of the end-use industries, top players have increased their research and development efforts.

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