According to the latest market study released by Technavio, the global steel tubes market is expected to grow at a CAGR of more than 6% during the forecast period.
This research report titled ‘Global Steel Tubes Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Increase in demand for galvanized pipes and tubes is one of the main drivers for market growth. By volume, the global galvanized steel market was 326.2 million metric tons in 2015 and Technavio analysts expect the market to reach 420 million metric tons by 2020, growing at a CAGR of 5.18%. Galvanized steel is used for construction purposes including door, sash, wall, shutter, fence, beam, column, partition, under-ceiling, car port, veranda, and store-room. The infrastructure and construction sector accounts for 38%-42% of the global galvanized steel demand.
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Based on end-user, the report categorizes the global steel tubes market into the following segments:
• Oil and gas
• Water and sewage
• Infrastructure and construction
Global steel tubes market for oil and gas
The wide use of steel tubes in the oil and gas sector, in all the three verticals such as upstream, midstream, and downstream, has led to the dominance of the oil and gas sector in the global steel tubes market. In 2015, the oil and gas segment occupied 46.14% of the overall share.
Global oil demand is expected to increase by almost 5 million barrels per day by 2020. This will translate into the demand for steel tubes in the oil and gas industry during the forecast period. About 109,065 miles of pipelines are yet to be constructed. “North America will spend about USD 22 billion in the construction of pipelines by 2022. Mexico is planning to invest about USD 8 billion in natural gas pipeline system. Steel has high strength to weight ratio, thus it can easily be handled, installed, and transported with less damages,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio, specializing in research on metals and minerals.
Global steel tubes market for water or sewage
By volume, the global steel tubes market for water or sewage was 24.25 million metric tons and is likely to reach 35 million metric tons by 2020 growing at a CAGR of 7.61%.
Steel pipes are considered durable and strong for water supply. As a result, they are widely used for municipal and industrial water and sewage applications. They can be easily welded and can withstand the water pressure. The global water market was USD 365.22 billion in 2015 and is expected to grow at a CAGR of 6% over the forecast period triggering the demand for steel tubes.
“The increase in demand for water is driven by rapid-paced industrial and urbanization development. Inadequate availability of fresh water resources leads to regulations on water use and on the discharges, thus increasing the demand for steel tubes. Industries and organizations are required to treat and recycle waste water before discharging,” says Chandrakumar.
Global steel tubes market for infrastructure and construction
By volume, global steel tubes market for infrastructure and construction was 14 million metric tons and is likely to reach 20 million metric tons by 2020 growing at a CAGR of 7.39%.
Steel pipes are widely used in residential as well as infrastructure applications. PVC pipes are used as waste water conveyors for housing purposes. 0.5 inch to 1.5 inch diameter galvanized pipes are mostly used in four story buildings and up to 4 inch diameter pipes are used in high rise buildings. Pipes with large diameters, such as up to 10 inch diameter, are used for water supply in large residential colonies and complexes. In power plants, seamless steel tubes are used in heat exchangers and boilers.
The top vendors highlighted by Technavio chemicals and materials research analysts in this report are:
• Shanghai Baosteel Group (Baosteel)
• Tata Steel