U.S. Cold Drawn Seamless Steel Pipes Market Worth $994.3 Million by 2029

U.S. Cold Drawn Seamless Steel Pipes Market by Standard (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53, Other Standards), Product Type (MS Seamless Steel Pipes), Production Process (Cross-roll Piercing & Pilger Rolling, Continuous Mandrel Rolling), Application (Boiler Tubes), and End-use Industry (Oil & Gas) - Forecasts to 2029

Meticulous Research® - a leading market research company, published a report titled ‘U.S. Cold Drawn Seamless Steel Pipes Market by Standard (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53, Other Standards), Product Type (MS Seamless Steel Pipes), Production Process (Cross-roll Piercing & Pilger Rolling, Continuous Mandrel Rolling), Application (Boiler Tubes), and End-use Industry (Oil & Gas) - Forecasts to 2029’.

According to the latest publication from Meticulous Research®, the U.S. Cold Drawn Seamless Steel Pipes Market is expected to grow at a CAGR of 7.7% during the forecast period 2022–2029 to reach $994.3 million. The growth of this market is attributed to the increasing demand for seamless pipes in the oil & gas sector. However, factors such as volatile raw material prices and lower demand in saturated markets are expected to restrain the growth of this market. In addition, increased offshore spending and new oilfield discoveries are expected to create significant growth opportunities for the players operating in this market. However, trade protectionism and the introduction of new substitutes are major challenges to the growth of this market.

The U.S. cold drawn seamless steel pipes market is segmented based on standard, product type, production process, application, and end-use industry.

Based on standard, the U.S. 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 U.S. cold drawn seamless steel pipes market. The growth of this segment is attributed to the increasing need for seamless ferritic alloy steel pipes for high-temperature services; its characteristics include higher strength, resistance, elasticity, and hardenability. However, the ASTM A213 segment is expected to account for the highest CAGR due to its increasing use in high-temperature services, especially for boilers and superheaters.

Based on product type, the U.S. 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 U.S. cold drawn seamless steel pipes market. This segment is also slated to register the highest CAGR during the forecast period. The growth of this segment is attributed to its increasing use in the construction industry due to its high strength & pressure-bearing capability and the manufacturing of structural & mechanical parts, including oil drill pipes, automobile transmission shafts, bicycle frames, and steel scaffolding.

Based on production process, the U.S. 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 U.S. cold drawn seamless steel pipes market. The high growth 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 at ductile fracture. Also, factors such as the rising need for a high-quality surface finish with maximum productivity and its advantages, including uniform macrostructure and microstructure in the cross-cut section of the forged part, are driving the growth of this segment.

The continuous mandrel rolling segment is slated to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing need to reduce the outside diameter and wall thickness during production and a surge in the need for hydraulically positioned rolls to achieve high output and cater to mass production lines.

Based on application, the U.S. 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 U.S. cold drawn seamless steel pipes market. This segment is also slated to register the highest CAGR during the forecast period. The high 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. Also, the growing demand for boiler tubes from end-use industries is driving the demand of the segment.

Based on end-use industry, the U.S. 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 U.S. cold drawn seamless steel pipes market. The large market share of this segment is attributed to the increasing government initiatives & investments, the rising need for upstream operations including onshore & offshore drilling, general plumbing applications, and midstream operations in the oil & gas industry.

The power generation segment is slated to register the fastest CAGR during the forecast period due to the growing need for low machinery, tighter tolerances, section properties & improved straightness in bearings, wind turbine components, nuclear, solar, and coal energy plants.

Key Players:

The key players operating in the U.S. cold drawn seamless steel pipes market are ArcelorMittal North America Holdings LLC (U.S.), U. S. Steel Tubular Products Inc. (U.S.), Chicago Tube and Iron Company (U.S.), American Piping Products Inc. (U.S.), Bison Stainless Tube, LLC (U.S.), Penn Stainless Products, Inc. (U.S.), Bri-steel Manufacturing (Canada), Michigan Seamless Tube, LLC. (U.S.), U.S. Metals, Inc. (U.S.), and Industrial Tube and Steel Corporation (U.S.).

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Key questions answered in the report-

Which are the high-growth market segments in terms of standard, product type, production process, application, and end-use industry?
What was the historical market for U.S. cold drawn seamless steel pipes?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, opportunities, and challenges in the U.S. cold drawn seamless steel pipes market?
Who are the major players, and what shares do they hold in the U.S. cold drawn seamless steel pipes market?
How is the competitive landscape in the U.S. cold drawn seamless steel pipes market?
What are the recent developments in the U.S. cold drawn seamless steel pipes market?
What are the different strategies adopted by the major players in the U.S. cold drawn seamless steel pipes market?

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