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Seamless Pipes Market Size Forecast to Reach $240.3 Billion by 2027

The Seamless Pipes Market size is forecast to reach US$240.3 billion by 2027 after growing at a CAGR of 5.1% during 2022-2027. Seamless pipes are high-performance pipes with uniform structure and strength, robust corrosion resistance, and have the ability to withstand high pressure and temperature. The manufacturing of these pipes involves multiple materials, ranging from steel & alloys, nickel, magnesium alloys, among others. Owing to the excellent properties compared to the counterparts such as seam and welded pipe, seamless pipe is used in several industries. The oil and gas industry is one of the largest consumers of seamless pipes such as carbon steel pipes and copper pipes. These pipes are utilized in offshore rigs, oil field drilling operations, transportation of oil and natural gas, and many other applications. The oil and gas industry booming globally and in turn, this is expected to drive the market’s growth during the forecast period. For instance, as per the January 2020 statistics by the International Energy Agency, biofuel production will increase fourfold from around 2 mboe/d in current times to almost 8 mboe/d by 2040. Furthermore, the seamless pipes are massively used in heat exchangers of chemical plants and for performing multiple critical applications such as the production of chemicals under specific temperatures and pressure. The chemical industry is expanding globally with increasing production and shipment and this is expected to contribute to the market’s growth in the forecast period. For instance, as per the 2021 Half Year Financial Report by BASF, chemical production in the world expanded by around10% compared with the prior-year period. Pilger rolling process will witness the highest demand in the forecast period. The high cost associated with seamless pipes might hamper the market’s growth.

COVID-19 Impact

The seamless pipes market was affected significantly due to the COVID-19 pandemic. The demand for seamless pipes took a back seat as multiple end-use industries experienced stagnant growth during the pandemic. Furthermore, the disruption in the supply chain and temporary shutdown of factories further hindered the market’s growth. Market players modified their working patterns to keep the business intact. Going forward, the market is projected to witness robust growth owing to the expansion of end-use industries such as the oil and gas industry and the chemical industry.

Seamless Pipes Market – By Material

The steel and alloys segment dominated the seamless pipes market in 2021. The high strength and durability of steel make it a robust choice for the manufacturing of seamless pipes. Moreover, seamless steel pipes are well equipped with good corrosion and wear resistance. Owing to such diverse properties, the seamless pipes market is witnessing higher production and supply of steel-based seamless pipes. For instance, as per the October 2020 news by France-based seamless pipes manufacturer Vallourec S.A., the company supplied 1600 tons of seamless steel pipes for use in the roof structure of MRV Arena. Such increasing use of steel-based seamless pipes is projected to increase the demand for steel & alloys during the forecast period.

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Seamless Pipes Market – By Production Process

Pilger rolling dominated the seamless pipes market in 2021. This process assists in the production of seamless pipes efficiently and effectively. Pilger rolling also helps in achieving strict product manufacturing specifications. Such excellent properties of pilger rolling encourage manufacturers and research organizations to utilize this process for the manufacturing of seamless pipes. For instance, as per the November 2021 journal by Multidisciplinary Digital Publishing Institute, a study was conducted to predict the rolling force produced and to design the die groove profile during the manufacturing of seamless pipes through pilger rolling production process. Such increasing use of pilger rolling process is expected to increase its demand in the seamless pipes market during the forecast period.

Seamless Pipes Market – By End Use Industry

The oil and gas industry dominated the seamless pipes market in 2021. Seamless pipes are used extensively in the oil and gas industry where they are utilized in offshore rigs, oil field drilling operations, for distribution of oil, gas, slurries, etc. The oil and gas industry booming globally and this is expected to drive the market’s growth in the forecast period. For instance, as per the December 2021 data by Energy Information Administration, total production of crude oil accounted for 11.7 million b/d in November which will touch an average of 12.1 million b/d in the fourth quarter of 2022. Similarly, according to the stats by India Brand Equity Foundation, demand for diesel in India is projected to double to 163 MT by 2029-30. Such high growth in the oil and gas industry globally is expected to bolster the higher uses of seamless pipes and in turn, this is projected to contribute to the market’s growth in the forecast period.

Seamless Pipes Market – By Geography

The Asia-Pacific region held the largest market share in the seamless pipes market in 2021 with a market share of up to 34%. The high demand for seamless pipes is attributed to the region’s booming oil and refinery industry. Seamless pipes are massively utilized in the region’s oil field drilling operations, for transportation of oil and liquefied natural gas, and many other applications. The oil and gas sector in the region is witnessing massive growth and this, in turn, is anticipated to increase the demand for seamless pipes during the forecast period. For instance, according to the report by India Brand Equity Foundation, the government of India has permitted 100% Foreign Direct Investment in upstream and private sector refining projects. Similarly, according to the March 2021 data by Energy Information Administration, refineries in China refined more crude oil for most of 2020 compared to US refineries. Such a massive boost in the region’s oil and gas sector is expected to augment the higher uses of seamless pipes in the forecast period.

Seamless Pipes Market Drivers

Expanding chemical industry will drive the market’s growth

Seamless pipes are an integral part of the chemical sector where they are utilized in the heat exchangers of chemical plants and for carrying out critical operations such as the production of various chemicals at precise temperature and pressure. The chemical sector globally is expanding with increasing production and shipment and this is expected to drive the market’s growth in the forecast period. For instance, as per the data by India Brand Equity Foundation, the domestic chemical sector’s small and medium enterprises will witness 18-23% revenue growth in the fiscal year 2022. Similarly, as per the June 2021 Mid-Year US Chemical Industry Outlook report, chemical volumes and shipments will surge by 3.2% and 8.2% respectively in the US in 2022. Such high expansion of the global chemical sector is projected to increase the requirement of seamless pipes and this, in turn, is expected to stimulate the market’s growth in the forecast period.

Booming oil and gas industry will contribute to the market’s growth

The oil and gas industry is the largest consumer of seamless pipes such as carbon steel pipes and copper pipes which are utilized in offshore rigs, drilling and transportation of oil and natural gas, and many other applications. The oil and gas industry booming globally and this is expected to drive the market’s growth during the forecast period. For instance, according to the report by India Brand Equity Foundation, the oil and gas sector’s installed provisional refinery capacity in India stood at 246.90 MMT as of September 2021 and Indian Oil Corporation became the largest domestic refiner with a capacity of 69.7 MMT. Similarly, as per the statistics by the International Energy Agency, refining activity in the world will jump by 2.4 mb/d in 2022, with oil demand set to return to pre-pandemic levels by the end of 2022. This huge boost in the oil and gas industry globally is expected to stimulate the higher demand for seamless pipes and in turn, this is anticipated to drive the market’s growth in the forecast period.

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Seamless Pipes Market Challenges

The high cost associated with the seamless pipes might hinder the market’s growth

Seamless pipes are associated with high cost and this has been a major challenge in the market which might hamper the market’s growth in the forecast period. The manufacturing of seamless pipes is complicated and a longer one compared to the manufacturing process of their counterparts such as seam or welded pipes. This makes both the production process and the final price of seamless pipes costly. For instance, as per the December 2019 journal by ICE Virtual Library, seamless pipes exhibit the characteristics of high cost. This high cost associated with the seamless pipes might slow down the market’s growth in the forecast period.

Seamless Pipes Industry Outlook

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the seamless pipes market. Major players in the seamless pipes market are:

Zaffertec S.L.
ALCO
OMK Steel
Vallourec S.A.
Stahlrohr GmbH
Kamal Steels
American Piping Products
Jindal SAW
Others

Recent Developments

In April 2019, OMK Steel announced its plan to build a seamless pipe mill in Vyksa, Russia. The mill planned with a capacity of manufacturing 500,000 tons of seamless pipe per year, helping the company to expand its seamless pipe production capacity.

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Key Takeaways:

Steel and alloys dominated the seamless pipes market in 2021. Steel comes with high durability and strength, making it the preferred choice in the market.

The chemical industry is expected to drive the market’s growth during the forecast period. For instance, according to the June 2020 news by the American Chemistry Council, net exports of chemicals will touch US$ 37 billion by 2025.

The Asia-Pacific is projected to witness the highest demand for seamless pipes in the forecast period owing to the booming oil and gas sector in the region. For instance, as per the stats by India Brand Equity Foundation, oil demand in India is anticipated to witness a 2x growth to touch 11 million barrels by 2045.

Relevant Reports

A. GRP Pipes Market

https://www.industryarc.com/Research/GRP-Pipes-Market-Research-507277

B. Pre-Insulated Pipes Market

https://www.industryarc.com/Research/Pre-Insulated-Pipes-Market-Research-510198

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Contact Information:

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677