Cold Drawn Seamless Steel Pipes Global Market Report 2023

Major players in the cold drawn seamless steel pipes market 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.

New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cold Drawn Seamless Steel Pipes Global Market Report 2023" - https://www.reportlinker.com/p06479795/?utm_source=GNW , US Steel Tabular Products Inc., United Seamless Tubulaar Private Limited., Xiamen Landee Industries Co Ltd., Bri-Steel Manufacturing Inc., Tata Steel Limited., PJ Industries Inc. and Salem Tube International Limited.The global cold drawn seamless steel pipes market is expected to grow from $13.00 billion in 2022 to $14.02 billion in 2023 at a compound annual growth rate (CAGR) of 7.83%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cold drawn seamless steel pipes market is expected to reach $19.16 billion in 2027 at a CAGR of 8.12%.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.Cold drawn seamless steel pipes refer to a type of seamless steel pipes made by drawing a solid cylindrical steel billet through a die and over a mandrel into a hollow tube without seams or joints. They are used in a variety of heat transfer equipment, such as super heaters, boilers, and heat exchangers.Asia-Pacific was the largest region in the cold drawn seamless steel pipes market in 2022.North America is expected to be the fastest-growing region in the forecast period.The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main cold drawn seamless steel pipes product types are carbon steel, alloy steel, stainless steel, and others.Carbon steel refers to a common steel type that is made up of an alloy of iron and carbon.The various production processes are cross-roll piercing and pilger rolling, multi-stand plug mill, and continuous mandrel rolling applied in precision instrumentation, boiler tubes, heat exchanger tubes. hydraulic applications, fluid transfer lines, rifled tubes, bearing pipes, mining applications, automotive applications, and general engineering applications. The various end-use industries are oil and gas, infrastructure and construction, power generation, automotive, and others.The growth in the oil and gas sector is expected to propel the growth of the cold-drawn seamless steel pipes market going forward.Cold-drawn steel seamless pipes are commonly used in the oil and gas industry as they can handle the transportation of unprocessed raw oil, which requires large tubes for transfer.These pipes are required for offshore and onshore oil casing and tubing and are a reliable and efficient means of transferring oil from one reservoir to another. For instance, in March 2021, according to International Energy Agency, a France-based autonomous intergovernmental organization that shapes energy policies, the global oil demand increased from 42.1 million barrels per day, in 2020 to 44.7 million barrels per day, in 2021, whereas the oil demand in Non-OECD countries also increased gradually to reach 51.7 million barrel per day, in 2021 from 48.9 million barrel per day, in 2020. Further, in July 2022, according to IEA, the global gas demand is set to rise by a total of 140 billion cubic meters (BCM) between 2021 and 2025. Therefore, the growth in the oil and gas sector is driving the growth of the cold-drawn seamless steel pipes market going forward.Product innovations are a key trend gaining popularity in the cold-drawn seamless steel pipes market.Major companies operating in the cold-drawn seamless steel pipes market are focused on developing new innovative products to strengthen their position.For instance, in February 2022, Rhinox, a US-based company that specializes in manufacturing pipes and press fittings, launched hygienic stainless-steel pipes and press fittings that consist of double O-rings with VV-shaped grooves.These stainless-steel tubes are produced using autogenous (fusion) longitudinal gas tungsten welding methods, ensuring the highest quality standards.This material can serve as a substitute for traditional product materials in hygienic drinking water installations.In January 2022, PTC Alliance LLC, a US-based company that manufactures and markets welded and cold-drawn seamless steel tubing acquired Metal-Matic Inc. for an undisclosed amount. This acquisition enabled PTC Alliance to expand its product offerings and enhance its customer service capabilities. Metal-Matic is a US-based manufacturer of carbon steel tubing and tube-based component. Its carbon steel tubing is utilized globally for a broad spectrum of applications.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.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.The cold drawn seamless steel pipes market research report is one of a series of new reports that 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.Read the full report: https://www.reportlinker.com/p06479795/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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