GLOBAL STAINLESS STEEL PIPES AND TUBES MARKET IS ESTIMATED TO REACH USD 56.12 BILLION BY 2033: SPER MARKET RESEARCH
Safe and leak-proof transportation of liquids, gasses, and other commodities is accomplished through the use of cylindrical stainless steel pipes and tubes. Stainless steel, or inox, is used to make these different kinds of pipes and tubes. Corrosion-resistant steel (CRES), an iron alloy with remarkable resistance to rust and corrosion, is used to make it. These essential qualities have led to a major increase in the demand for stainless steel pipes and tubes in recent years, especially in applications requiring corrosive fluids, high temperatures, and high levels of contamination. Because of these pipes’ strength, dependability, and longevity, the construction, oil & gas, and automotive industries often use them.
According to SPER Market Research, ‘Stainless Steel Pipes And Tubes Market Size- By Product Type, By End User, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Stainless Steel Pipes and Tubes Market is estimated to reach USD 56.12 Billion by 2033 with CAGR of 4.76%.
Due to the vital role that metal goods play in boosting revenue in the oil and gas sector, the global market for stainless steel pipes and tubes is expected to develop. Stainless steel tubes and pipes are used in several procedures connected to the transportation and extraction of gas and oil. These pipes serve as vital connections in the transportation of oil and gas from the reservoir to storage units on the surface due to their increased durability and resistance to strong chemicals and extreme temperatures. The market for stainless steel pipes and tubes is anticipated to expand as suppliers and customers form an increasing number of strategic relationships.
The scale of the stainless steel pipes and tubes sector will be limited since the manufacture of stainless steel pipes and tubes requires a larger initial investment than pipes made of other metals. The primary reasons for the high cost of the alloy are its high complexity and the requirement for particular basic components. Stainless steel’s ability to withstand corrosion is a result of its improved composition and intricate production techniques. Moreover, the energy required for the manufacture of stainless steel pipes or tubes drives up the cost.
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The COVID-19 pandemic severely disrupted supply chains and caused a shortage of raw materials, which had an effect on the global market for stainless pipes through lockdowns and factory closures. Demand shifted as key industries like oil and gas slowed down and healthcare requirements increased. Economic uncertainty led to price volatility and delays in investments. Recovery varied by region; Europe and North America saw longer disruptions and recovered more slowly, whereas Asia-Pacific recovered more swiftly.
The global market for pipes and tubes made of stainless steel will be dominated by Asia-Pacific. Asian countries such as China, India, Indonesia, and others are major global suppliers of steel products. These regions are home to a healthy ecosystem for the production of stainless steel pipes and tubes, and they have consistently strived to raise the regional market export rate. AK Steel Holdings Corporation, FE Steel, Tsingshan Holdings Group, H Butting GmbH & Co KG, Tata Steel Limited, Sandvik AB, TISCO Industrial Co., and numerous other companies are the major players in this market. Mannesmann Stainless Tubes GmbH, Jiangsu Wujin Stainless Steel Pipe Group Co. Ltd., Zhejiang Jiuli Group Co. Ltd., and others.
For More Information, refer to below link:-
Stainless Steel Pipes and Tubes Market Growth Drivers
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