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SAN FRANCISCO , May 31, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Electric Resistance Welded (ERW) Pipes and Tubes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace. FACTS AT A GLANCE What's New for 2022? Sawl Pipe
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Edition: 21; Released: May 2022 Executive Pool: 1784 Companies: 139 - Players covered include Al Jazeera Steel Products Company SAOG; APL Apollo Tubes Limited (APL); Arabian Pipes Company; ArcelorMittal SA; ChelPipe; Choo Bee Metal Industries Berhad; EVRAZ North America; JFE Steel Corporation; Maharashtra Seamless Limited; Nippon Steel & Sumitomo Metal Corporation; PAO TMK; PT Bakrie Pipe Industries; Salzgitter Mannesmann Line Pipe GmbH; Surya Roshni Ltd.; Tata Steel Europe ; Techint Group SpA; Ternium S.A.; Tenaris S.A.; United States Steel Corporation; United Metallurgical Company /OMK; Welspun Corp Ltd.; Wheatland Tube Company and Others. Coverage: All major geographies and key segments Segments: Segment (Mechanical Steel Tubing, Line Pipes, Structural Steel Pipes & Tubing, Standard Pipes, Oil Country Tubular Goods, Pressure Tubing) Geographies: World; USA ; Canada ; Japan ; China ; Europe; France ; Germany ; Italy ; UK; Spain ; Russia ; Rest of Europe; Asia-Pacific ; India ; South Korea ; Rest of Asia-Pacific ; Latin America ; Rest of World.
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Amid the COVID-19 crisis, the global market for Electric Resistance Welded (ERW) Pipes and Tubes estimated at 67.5 Million Tons in the year 2022, is projected to reach a revised size of 84.8 Million Tons by 2026, growing at a CAGR of 5.3% over the analysis period. Mechanical Steel Tubing, one of the segments analyzed in the report, is projected to grow at a 5% CAGR, while growth in the Line Pipes segment is readjusted to a revised 5.6% CAGR. Global demand for steel pipes and tubes, including Electric Resistance Welded (ERW) pipes closely mirrors the trends in the oil & gas and construction industries, and is also influenced by the pace of infrastructure development projects. Given the fact that trends in various end-use markets are significantly affected by prevailing economic conditions, the impact is also evident on the demand for steel pipes and tubes including ERW steel pipes. Traditionally, ERW pipes were mainly used in oil and gas pipelines, and water/sewage transportation. However, with improvement in load bearing strength, ERW pipes now find application in industries such as infrastructure, pre-fabricated structures, solar plants, power plants, and furniture. While the oil & gas industry is the main demand determinant for the ERW pipes market, tubes intended for mechanical engineering and manufacturing sectors are directly linked to the health of the economy. Manufacturers offering pipes for infrastructure projects are characterized by late-cyclical trend. Specifically, manufacturers offering tubes for grid-bound media transports market are likely to benefit from long-term measures that are aimed at providing water and energy supply.
The market reported rebound in demand during 2021, led by an improvement global economy and recovery in major markets including construction, oil and gas and automobile industry. Most economies registered an increase in demand for both industrial pipes and OCTG pipes amid favorable conditions. The industry however faces challenges from supply chain disruptions and rising raw material prices. In 2021, mass vaccination played key role in minimizing the risk of new wave and in safe resumption of mobility of the global population. As global economy recovered, restrictions were lifted on businesses, and air and land travel, the oil demand recuperated, particularly in the US, China and even Europe. Rising oil prices resulted in increased bookings by energy sector. Post pandemic growth in the ERW line pipes is expected to increase driven by the plans of major oil & gas, fertilizer and power companies to establish cross-country line pipes. Recovery in oil and gas prices and resurgence in drilling budgets is expected to encourage growth opportunities for OCTG and Line pipes worldwide. With well drilling reaching greater depths and enduring more corrosive environments, manufacturers are focused on developing pipes with high collapse resistance and greater strength to meet the increasingly complicated requirements. ERW pipes market is also expected to benefit from the rising demand for structural steel products in developing markets. Rising investments in sectors such as power generation and automotive and increasing government investments in infrastructure projects such as water and sewage systems augur well for the ERW pipes market. ERW pipes, nevertheless face increasing competition from plastic pipes in traditional applications such as irrigation, agriculture, and plumbing. However, ERW steel pipes are targeting newer sectors such as urban infrastructure, construction, metros, piped gas distribution, fire safety segments, malls, airports, and commercial passenger vehicles. In these markets, pipes and tubes are used in applications such as fencing, cabling, fire safety, scaffolding, and bus body parts.
Anticipated growth in pipeline and operating pressure, and offshore drilling activity at greater depths, is expected to drive the demand for high strength ERW pipes for more efficient supply of oil, water, and gas.
As raising the strength of the pipe allows for reduction in wall thickness and weight of the pipe, manufacturers continue to explore various methods to improve the strength and performance of pipeline steels. Asia-Pacific represents the largest regional market for ERW pipes and tubes. Growth in the US market is primarily attributed to the recovery in E&P spending amid the nation's exceptional emphasis on tapping the huge reserves of shale plays to meet the escalating demand for energy and to achieve energy security. In Asia Pacific , the market is expected to benefit mainly from increasing industrialization in the region, followed by rapid infrastructural growth. This is largely attributed to the strong economic growth of individual countries in these regions, and the increased activity in end-use sectors such as oil, power, and refineries. In addition, demand is also expected stem from automobile, home appliances, motorcycles, and construction markets, led primarily by rising personal incomes. China , among the leading regional markets, is expected to register increase in pipe consumption driven by increasing domestic requirements. On the other hand, India is witnessing increased investments from public and private sectors in developing pipeline infrastructure for domestic gas distribution, water supply and irrigation. In North America , construction, oil and natural gas, industries present significant opportunities for steel pipe makers. In particular, high potential exists for products such as oil country tubular goods (OCTG), and structural tube, owing to the rise in offshore drilling and exploration activity in the long run along with additions and repairs of the existing water.
The Russian invasion of Ukraine and the sanctions imposed on Russian operations, have resulted in inflationary pressures and high commodity prices. Oil and gas prices spiked in early part of 2022 and are expected to rise further as European countries seekt alternative sources to Russian exports of oil and gas. In addition, current oil and gas production levels are not in line with global demand as inventories continue at low levels. OCTG pipes demand picked up in 2021 as drilling activity improved around the world led by North America . Offshore drilling activity increased led by Latin America . Moreover, pipeline projects are on rise in the Middle East , China and the Mediterranean and Black Seas. High consumption of OCTG pipes also resulted in increased consumption. The industry is expected to gain from declining market inventory levels as demand remains robust in most markets. Backed by inflated oil prices, growing global capital expenditure on oil & gas bodes well for growth in the market. North America , followed by Latin America , is forecast to exhibit the highest growth, while Asia is estimated to lead in terms of overall capital expenditure, marginally surpassing the Middle East . The trend along with continued recovery in drilling activity is expected to help the US shale patch in displaying production gains. The North American market is anticipated to gain further from high investments from Canadian players. On the other hand, China is likely to benefit from notable efforts by leading players. Sinopec is slated to spend significantly for boosting oil and gas drilling in line with China's strategy to improve energy security as well as shield itself from highly volatile commodity markets. In addition, China Petroleum & Chemical Corp. is expected to push capital expenditure, including sizeable allocation to drilling. Various companies are anticipated to tread caution on projects with lower profitability due to concerns over drop in prices. These moves are expected to further push prices due to low level of investments. Capital expenditure is predicted to continue registering a positive growth in 2023 and attain pre-pandemic level in 2024. More
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