Cold Drawn Seamless Steel Pipes Market Worth $22.34 billion by 2029

Cold Drawn Seamless Steel Pipes Market By Standard (ASTM A179, ASTM A511, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53), Product Type, Production Process, Application, End-use Industry, and Geography - Global Forecast to 2029

Meticulous Research®—leading global market research company published a research report titled, ‘Cold Drawn Seamless Steel Pipes Market By Standard (ASTM A179, ASTM A511, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53), Product Type, Production Process, Application, End-use Industry, and Geography - Global Forecast to 2029’.

According to this latest publication from Meticulous Research®, the Cold Drawn Seamless Steel Pipes Market is expected to grow at a CAGR of 8% from 2022 to reach $22.34 billion by 2029. The growth of this market is attributed to the increasing demand for seamless pipes in the oil & gas sector.

In addition, the increased offshore spending and new oilfield discoveries are expected to create significant growth opportunities for the players operating in this market. Factors such as trade protectionism and the introduction of new substitutes pose significant challenges to the growth of this market. However, the volatile raw material prices and lower demand in saturated markets are expected to restrain the growth of the cold drawn seamless steel pipes market.

The global cold drawn seamless steel pipes market is segmented based on standard, product type, production process, application, end-use industry, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on standard, the cold drawn seamless steel pipes market is segmented into ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53, and other standards. In 2022, the ASTM A335 segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. The large market share of this segment is attributed to the increasing need for seamless ferritic alloy steel pipes in high-temperature services; its characteristics include higher strength, resistance, elasticity, and hardenability.

However, the ASTM A213 segment is slated to record the highest CAGR during the forecast period. The rapid growth of this segment is attributed to its increasing usage in high-temperature services, particularly for boilers and superheaters.

Based on product type, the cold drawn seamless steel pipes market is segmented into MS seamless steel pipes, hydraulic MS seamless pipes, ERW square & rectangular hollow section pipes, and honed tubes. In 2022, the MS seamless steel pipes segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. This segment is also slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to its increasing use in the construction industry due to its high strength and pressure-bearing capability and the manufacture of structural parts & mechanical parts, such as oil drill pipes, automobile transmission shafts, bicycle frames, and steel scaffolding.

Based on production process, the cold drawn seamless steel pipes market is segmented into cross-roll piercing & pilger rolling, multi-stand plug mill, and continuous mandrel rolling. In 2022, the cross-roll piercing & pilger rolling segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. The large market share of this segment is attributed to the simplicity of the process, including multi-stand plug mill and continuous mandrel rolling, and the need to identify the formation of cavity and zone where ductile fractures occur. In addition, the rising demand for a high-quality surface finish with maximum productivity and its advantages, such as uniform macro and microstructure in the cross-cut section of the forged part.

However, the continuous mandrel rolling segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is driven by the increasing need to reduce the outside diameter and wall thickness during production and the high demand for hydraulically positioned rolls to achieve high output and cater to mass production lines.

Based on application, the cold drawn seamless steel pipes market is segmented into precision instrumentation, boiler tubes, heat exchanger tubes, hydraulic applications, fluid transfer lines, rifled tubes, bearing pipes, mining applications, automotive applications, and general engineering applications. In 2022, the boiler tubes segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. This segment is also slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing need for boiler tubes in steam boilers, fossil fuel plants, industrial processing plants, and electric power plants. In addition, the growing demand for boiler tubes from end-use industries, such as oil & gas, power generation, and automotive, drives the growth of this segment.

Based on end-use industry, the cold drawn seamless steel pipes market is segmented into oil & gas, infrastructure & construction, power generation, automotive, and other end-use industries. In 2022, the oil & gas segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. The large share of this segment is attributed to the increasing government initiatives and investments and the rising requirement for upstream operations, including onshore and offshore drilling, general plumbing applications, and midstream operations in the oil & gas industry.

However, the power generation segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is driven by the growing need for low machinery, tighter tolerances, section properties & improved straightness in bearings, wind turbine components, and nuclear, solar, and coal energy plants.

Check the complete table of contents with list of tables and figures:

Geographic Review:

Based on geography, the cold drawn seamless steel pipes market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is estimated to account for the largest share of the cold drawn seamless steel pipes market. This regional market is also slated to register the highest CAGR during the forecast period. The high market growth in Asia-Pacific is attributed to increasing industrialization, urbanization, high requirement for electricity, government initiatives & developments in the oil & gas sector, and growing demand for cold drawn seamless steel pipes by end-use industries, such as power generation and automotive.

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Key Players:

The key players operating in the global cold drawn seamless steel pipes market include Nippon Steel Corporation (Japan), ArcelorMittal S.A. (Luxembourg), Jindal Saw Ltd. (India), ISMT Ltd. (India), Salzgitter AG (Germany), Tenaris S.A. (Luxembourg), JFE Holdings, Inc. (Japan), American Piping Products Inc. (U.S.), Chicago Tube and Iron Company (U.S.), United Seamless Tubulaar Private Limited (India), Xiamen Landee Industries Co., Ltd. (China), Hunan Standard Steel Co.,Ltd (China), U. S. Steel Tubular Products Inc. (U.S.), Sunny Steel Enterprise Ltd. (Malaysia), and Bri-steel manufacturing (Canada).

Key questions answered in the report:

Which are the high-growth market segments in terms of standard, product type, production process, application, end-use industry, and country?
What was the historical market for cold drawn seamless steel pipes across the globe?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, opportunities, and trends in the global cold drawn seamless steel pipes market?
Who are the major players and their shares in the global cold drawn seamless steel pipes market?
How is the competitive landscape in the global cold drawn seamless steel pipes market?
What are the recent developments in the global cold drawn seamless steel pipes market?
What are the different strategies adopted by the major players in the global cold drawn seamless steel pipes market?
What are the key geographic trends and which are the high growth countries?

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