Stainless steel pipe is a hollow long round steel, mainly used in petroleum, chemical, medical, food, light industry, machinery and instrumentation and other industrial pipelines and mechanical structural parts. In addition, when the bending and torsion strength are the same, the weight is lighter, so it is also widely used in the manufacture of mechanical parts and engineering structures. It also often used as furniture and kitchen utensils.
Stainless steel pipes and tubes can be divided into two types: seamless pipes and welded pipes. Seamless tubes do not have a welded seam. The tubing is manufactured through an extrusion process where the tube is drawn from a solid stainless steel billet and extruded into a hollow form. Seamless round steel tubes and pipes are extensively applied in the high-pressure applications as this pipe type has higher working pressure, typically more light weight, and have thinner walls. Its market value has reached $13,447.97 million in 2020. Welded pipes are heavier and stiffer than seamless pipes. They are often used in natural gas transportation, electrical conduits and water pipes. Typically, they are used in cases when the pipe is not put under a high degree of stress. In 2020, their market value has reached $15,823.15 million, which is even higher than the market value of seamless pipes.
Several industries are involved in the application of stainless steel pipes and tubes, with applications in the automotive and construction industries accounting for the vast majority of the global market share. The exhaust systems of automobiles have to withstand the corrosive gas contained in the exhaust gas, as well as high temperature and vibration. If not, the system will not work properly. In addition, stainless steel pipe has good corrosion resistance and can avoid rust and corrosion when used in the construction industry. Various strengths meet the requirements of the construction industry for material strength and weight, and the application of stainless steel pipes in the construction field will become more and more extensive. It is estimated that by 2025, the market share of the two industries is expected to reach 46.67% from 45.89%.
Global Stainless Steel Pipes and Tubes Industry Market Status and Prospect Analysis
The global Stainless Steel Pipes and Tubes market has a total production value of $28289.38 million back in 2015, and increased to $29271.11million in 2020. The value is expected to reach $39,140.50 million by 2025. The CAGR of Stainless Steel Pipes and Tubes is 3.23% from 2019 to 2025.
In recent years, the Asia-Pacific region has experienced rapid economic growth, with major infrastructure projects and power projects making great progress. Rapid industrialization and urbanization, population growth, and growth in manufacturing are expected to drive the growth of the construction industry. China, as the leading construction market, is accelerating urbanization and improving the standard of living of the people, so the demand for stainless steel pipes is extremely strong. In addition, stainless steel exports are also an important part of China export economy, which plays an important role in driving China economic growth. China was the largest revenue market with a market share of 38.44% in 2015 and 38.89% in 2019 with an increase of 0.52%.
Many developed countries in Europe have strong economies and advanced technologies. Europe ranked the second market with the market share of 21.32% in 2019. However, the epidemic has caused countries to implement closed management. European manufacturing has suffered heavy losses again. In 2020, its market value has dropped to $6214.69 million, a decrease of 9.88%. as the epidemic is gradually brought under control, its market value is expected to rise to $8152.75 million by 2025.
Get the complete sample, please click: https://www.globalmarketmonitor.com/reports/762670-stainless-steel-pipes-and-tubes-market-report.html
North America has also suffered a lot due to the epidemic. Its market value decreases to $843.5 million in 2020 from $916 million in 2019. Meanwhile, the outbreak of trade wars has resulted in imports of steel and aluminum that will be affected by the new tariff scheme. This has a huge negative effect on the stainless steel pipes and tubes industry and will probably inhibit the further growth of the industry.
Opportunities and Challenges in the Stainless Steel Pipes and Tubes Industry
Firstly, raw materials such as iron ore, chromium, and other metals will incur more transportation costs due to weight. The spread of the epidemic has exacerbated the difficulty of transportation. Secondly, stainless steel needs to be manufactured with advanced machinery and technology, otherwise it can easily result in huge waste. In addition, the final polishing and finishing of the product involve a lot of equipment and labor costs, so the entire chain requires huge cost expenditures.
Stainless-steel pipes and tubes have good characteristics such as corrosion resistance, heat resistance, light weight, ease of manufacture, and impact resistance. Therefore，stainless steel pipes and tubes are widely used in processing plants.
With the continuous deepening of the concept of sustainable development, the awareness of environmental protection has been increasing. As the most environmentally friendly material, stainless steel is durable and has high recycling rate and long service life, which will largely reduce the consumption of resources. And it can be completely recycled into the same product without any loss of quality. According to a recent international study, approximately 92% of the stainless steel used in the construction industry is recycled, significantly saving available resources. At the same time, stainless steel also plays an important role in the development of alternative energy sources. With the rapid development of downstream industries, the demand for stainless steel is also increasing. It is expected that the stainless steel pipe market will further expand in the coming years as the COVID-19 is gradually under control.
Get the complete sample, please click: https://www.globalmarketmonitor.com/reports/762670-stainless-steel-pipes-and-tubes-market-report.html
We provide more professional and intelligent market reports to complement your business decisions.
Chinese