PUNE, India, July 6, 2017 /PRNewswire/ --
The report "Seamless Pipes Market by Type (Hot Finished, Cold Finished), Production Process (Continuous Mandrel Rolling, Multi-stand Plug Mill (MPM), Cross-roll Piercing & Pilger Rolling), Material, End-use Industry, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated to be USD 183.79 Billion in 2017 and is projected to reach USD 237.11 Billion by 2022, at a CAGR of 5.2% during the forecast period from 2017 to 2022.
Browse 107 Market Data Tables and 53 Figures spread through 169 Pages and in-depth TOC on "Seamless Pipes Market"
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Increasing global demand for energy has led to a rise in exploration activities and investments in the oil & gas industry. The increasing demand for high-performance tubular products from the growing oil & gas industry is expected to be a major factor expected to drive the growth of the Seamless Pipes Market. Seamless pipes are preferred over welded pipes in the oil & gas industry, as seamless pipes have high corrosion resistance and a better strength to weight ratio.
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Based on type, the hot finished seamless pipes segment is expected to be a faster-growing segment of the Seamless Pipes Market
Based on type, the hot finished seamless pipes type segment is expected to witness the highest growth, due to the growing use of hot finished seamless pipes across various industries, such as oil & gas, power generation, infrastructure & construction, and automotive. Hot finished seamless pipes are cost-effective. These pipes have good machinability and are often preferred for projects that require high strength and close tolerance.
Based on production process, the cross-roll piercing & pilger rolling segment is expected to be the fastest-growing segment of the Seamless Pipes Market during the forecast period
Based on production process, the cross-roll piercing & pilger rolling production process segment is expected to witness the highest growth during the forecast period. The cross-roll piercing & pilger rolling method is highly cost-efficient, which helps reduce the overall manufacturing cost of the end products.
Asia Pacific is expected to be the fastest-growing market for seamless pipes during the forecast period
The Seamless Pipes Market in Asia Pacific is expected to witness the highest growth during the forecast period. China, India, Japan, Taiwan, and South Korea are key countries contributing to the high demand for seamless pipes in Asia Pacific. Increasing industrialization and rapid infrastructural development in the region offer opportunities for the growth of the market. Seamless pipes are widely used in various applications in the infrastructure & construction industry, owing to their properties, such as high strength, thermal resistance, corrosion resistance, and chemical resistance.
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Some of the key players in the Seamless Pipes Market include Nippon Steel & Sumitomo Metal Corporation (Japan), ArcelorMittal SA (Luxembourg), JFE Steel Corporation (Japan), Tenaris S.A. (Luxembourg), Vallourec AG (France), IPP Europe Ltd. (UK) Zaffertec S.L. (Spain), Cimco Europe (Italy), Wheatland Tube Company (US), Techint Group SpA (Italy), ISMT Ltd. (India), ALCO SAS (Colombia), Shalco Industries Pvt. Ltd. (India), UMW Group (Malaysia), United Seamless Tubulaar Pvt. Ltd. (India), Jindal Saw Ltd. (India), Tianjin Pipe (Group) Corporation (China), PAO TMK (Russia), Sandvik AB (Sweden), United States Steel Corporation (US), Schulz USA (US), ChelPipe (Russia), EVRAZ Plc (UK), Salzgitter Mannesmann Stainless Tubes GmbH (Germany), and Tubos Reunidos, S.A. (Spain).
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