Stainless steel pipes are frequently made of austenitic stainless steel, a non-magnetic variety of the metal. Austenitic stainless steel is the most widely used type of stainless steel for pipes and tubes because of its strong corrosion resistance. Austenitic stainless steel is the most widely used type of stainless steel for pipes and tubes because of its strong corrosion resistance.
Global Stainless Steel Pipes and Tubes Market Driving Factors and Challenges
Over the past few years, there has been a notable increase in the market for stainless steel welded pipe. It is anticipated that this growing tendency would persist because of the rise in demand from the automotive and construction industries. Other uses for stainless steel welded pipes include the distribution and delivery of water, petrochemicals and fertilizers, and oil and gas. Positive sales growth has been made possible by stainless steel's exceptional physical and chemical qualities, which include high ductility, resilience to high temperatures, and corrosion resistance.
Iron ore and various alloying materials are the main ingredients used to make stainless steel. The cost of stainless steel pipes and tubes is affected by the erratic costs of various raw materials, which makes it difficult for producers to keep prices steady. Alternative materials including PVC, copper, and carbon steel compete with stainless steel. These materials present a threat to the market expansion for stainless steel pipes and tubes because they have cost benefits in some applications. Energy-intensive procedures and greenhouse gas emissions are involved in the production of stainless steel pipes and tubes. The market is challenged by growing environmental restrictions as well as the emphasis on sustainable practices.
Impact of COVID-19 on Global Stainless Steel Pipes and Tubes Market
The stainless steel pipe and tube market share has been significantly impacted by the COVID-19 epidemic. Key end-use industries like the automobile, chemical, and oil and gas industries saw a reduction in demand for them as a result of the COVID-19 pandemic's severe effects on economic activity in many of those countries. The global supply chain was also disrupted by the COVID-19 epidemic, making it more expensive and difficult to purchase them. Sales and production fell as a result. Prices for them reduced as a result of less disruptions to the supply chain and less demand. Because of this, it became harder for manufacturers to turn a profit, and several of them were compelled to shut down.
Global Stainless Steel Pipes and Tubes Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Mannesmann Stainless Tubes GmbH, Jiangsu Wujin Stainless Steel Pipe Group Co. Ltd., Zhejiang Jiuli Group Co. Ltd., AK Steel Holdings Corporation, FE Steel, Tsingshan Holdings Group, H Butting GmbH & Co KG., Tata Steel Limited, Sandvik AB, TISCO Industrial Co. and various others.
Global Stainless Steel Pipes and Tubes Market Segmentation:
By Product Type: Based on the Product Type, Global Stainless Steel Pipes and Tubes Market is segmented as; seamless pipes & tubes and welded pipes & tubes.
By End-User: Based on End-User, Global Stainless Steel Pipes and Tubes Market is segmented as; Oil and Gas, Petrochemicals, Infrastructure and Construction, Automotive, Water Treatment and Sewage, Others.
By Application: Based on the Application, Global Stainless Steel Pipes and Tubes Market is segmented as; power industry, chemical industry, construction, water treatment, oil & gas, food industry, and others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.