INDUSTRIAL TUBES MARKET ANALYSIS

Industrial Tubes Market, by Product Type (Process Pipes, Structural Tubes, Mechanical Tubes, Hydraulic & Instrumentation Tubes, Heat Exchanger Tubes, and Others), by Material (Stainless Steel, Carbon Steel, Alloy Steel, Non-Steel, and Brass), by Manufacturing Process (Welded and Seamless), by End-use Industry (Chemical, Automotive, Construction, and Oil & Gas and Petrochemicals), and by Region (North America, Europe, Latin America, Middle East & Africa, and Asia Pacific) – Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

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The hollow cylindrical structures known as industrial tubes are made up of copper, aluminum, steel, nickel, and others. They are available in various types such as mechanical tubes, process pipes, hydraulic, and structural tubes. Industrial tubes find application in various industries such as chemicals, oil & gas and petrochemicals, energy & power, automotive, and construction.

Market Dynamics:-

Significant growth in the construction sector is expected to drive growth of the industrial tubes market during the forecast period. According to the Government of U.K., the global construction output is projected to increase from around US$ 8.5 trillion in 2012 to US$ 12 trillion in 2025, witnessing a growth of over 41%.

Market Outlook:-

Asia Pacific is expected to be the largest and fastest growing market in the industrial tubes market during the forecast period. This is due to increasing investment in oil & gas exploration projects. In the oil & gas and petrochemical industry, industrial pipes are used for extraction, transportation, and processing. According to India Brand Equity Foundation, oil and gas industry of India is expected to attract US$ 25 billion investment in production by 2022 due to capacity expansion in the petrochemical & chemical industry and increase in gas exploration projects.

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Key Players:-

Key players operating in the industrial tubes market include, Tata Steel, Nippon Steel & Sumitomo Metal Corporation (NSSMC), US Steel, Sandvik AB, Aperam, Vallourec S.A, Tenaris, Tubacex, Benteler, and AK Tube LLC.

Key Developments:-

In 2016, APL Apollo Tubes Ltd. (India based manufacturer of steel tubes) expanded its four manufacturing facilities located in Bengaluru (Tamil Nadu), Hosur (Tamil Nadu), Secunderabad (Telangana) and Murbad (Maharashtra). After expansion, company’s total production capacity has reached one million ton per year.
In August 2019, Van Leeuwen Pipe and Tube Group (Netherlands based distributor of steel pipes, valves, and fittings) acquired BENTELER Distribution. BENTELER Distribution is a distributor of carbon and stainless steel tubes, offering products to automotive, mechanical engineering, energy, ship building and construction industries. The acquisition will help Van Leeuwen to expand its presence specially in Switzerland, Scandinavia, Germany, and Central Europe.
In January 2020, Tenaris S.A. acquired IPSCO Tubulars, Inc. (U.S. based manufacturer of steel pipe). The acquisition will help Tenaris to expand its presence in U.S.

Market Taxonomy:-

On the basis of product type, the global industrial tube market is segmented into:

Structural Tubes
Hydraulic and Instrumentation Tubes
Mechanical Tubes
Heat Exchanger Tubes
Process Pipes
Others

On the basis of material, the global industrial tube market is segmented into:

Carbon Steel
Alloy Steel
Stainless Steel
Non-steel
Brass

On the basis of manufacturing process, the global industrial tube market is segmented into:

Seamless
Welded

On the basis of end-use industry, the global industrial tube market is segmented into:

Automotive
Construction
Chemical
Oil & Gas And Petrochemicals

On the basis of region, the global industrial tube market is segmented into:

North America

U.S.
Mexico
Canada

Asia Pacific

China
India
Japan
South Korea
ASEAN
Australia

Europe

Germany
Spain
U.K.
Italy
France
Russia
Rest of Europe

Latin America

Brazil
Rest of Latin America

Middle East & Africa

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Source

https://www.coherentmarketinsights.com/ongoing-insight/industrial-tubes-market-2568