Metal Pipes Market
Global Metal Pipes Market Research Report – Global Forecast 2023
The global metal pipes market continues to benefit from the growth of sub-markets. Metal pipes have a huge market as they find a host of industrial application. According to the data released by Market Research Future (MRFR), the global metal pipes market is set to demonstrate 4% CAGR from 2019 to 2023. The market is projected to touch a valuation of USD 70 Bn by the end of the forecast period.
The global demand for metal pipes has increased significantly owing to increased construction new pipelines, which include oil & gas pipelines, replacement of old and obsolete pipeline across industries, water & wastewater, etc.
Adoption of metal pipes, especially stainless-steel pipes has increased in end-use industries. These pipes are sustainable, durable, reliable and easy to install and maintain. Some of the popular metals that are used for making pipes include copper and ductile iron. Industries such as chemical and oil and gas are will continue to post a strong demand for metal pipes in the forthcoming years.
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Global Metal Pipes Market: Segmental Analysis
The segmental analysis of the market has been conducted based on diameter, end-use and material.
Based on diameter, segments include above 15 inches and Up to 15 inches. On the basis of the end-use, key segments include HVAC & electrical, water & wastewater, oil & gas, power and others. The water and wastewater segment is anticipated to exhibit an impressive growth over the next several years. Development of wastewater treatment plants in various parts of the world is supporting the growth of the segment. On account of the rising global population, the demand for drinking waters continues to grow. Whereas, freshwater stocks remain limited, which is promting trend like reuse and recycling of wastewater. Introduction of favourable policies has bolstered the segment’s growth. On the back of rising concerns over depreciating fresh water levels, there is a greater emphasis on development of water-related infrastructure.
Based on material, key segments include ductile iron, copper, steel and others. The steel segment is likely to witness a strong growth during the assessment period. There is a strong preference for steel metal pipes owing to their characteristics such as high durability, low corrosion, ease of installation, longevity, etc. Demand for stainless steel pipes has continue to over the as they can be used in application that require extreme temperature and pressure tolerance. They are extremely popular in industries such as oil & gas and chemical.
Global Metal Pipes Market: Regional Analysis
Regions covered in the report include Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), North America and South America. In terms of value, North America currently holds the pole position and this trend is expected to continue throughout the assessment period. The North America metal pipes market is led by the US, which will continue to present attractive growth opportunities to market players throughout the forecast period.
Asis Pacific has also emerged as an attractive market for metal pipes over time. Rapid urbanization and infrastructural development are among the major macroeconomic factors that have bolstered the prospects of metal pipe market in APAC. Moreover, local policy makers are emphasising on solutions to tackle issues such as fresh water crisis. As a result, water plants have mushroomed in many APAC countries.
Global Metal Pipes Market: Competition Analysis
Some of the top-notch companies operating in the global market for metal pipes include Compagnie de Saint-Gobain SA (France), Northwest Pipe Company (US), Muller Industries, Inc. (US), Nippon Steel and Sumitomo Metals (Japan), ArcelorMIttal S.A. (Luxembourg), Tenaris SA (Luxembourg), Kaiser Aluminum Corporation (US), TMK Group (Russia), Saudi Arabian Amiantit Company (Saudi Arabia), and Narsk Hydro ASA (US).
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