According to estimates, America’s steel pipes market sales are likely to reach USD 24.8 million in 2023. In a detailed industry analysis, global America’s steel pipes market is projected to expand at a CAGR of 3.6% and reach USD 35.3 million by 2033.
It has become increasingly significant that steel pipes are used for water supply, sewage, automotive, and oil and gas infrastructure. Steel pipes can be divided into alloys, carbons, and stainless steel. Compared to other steel pipe variants, carbon steel pipe products are easy to access and shock resistant, contributing significantly to the market revenue.
It is evident from investments into onshore and offshore applications, particularly in the United States and Brazil, that steel pipes are notably gaining traction in several end-use sectors, including construction, mining, water treatment, and industrial applications.
Request Your Sample and Stay Ahead with Our Insightful Report!
https://www.futuremarketinsights.com/reports/sample/rep-gb-12656
In particular, oil and gas companies are investing in onshore and offshore applications. The market size of steel pipes in America is expected to grow significantly during the forecast period. A vast economy characterized by steady growth in recent years could remain an important market for steel pipes in the Americas. At the same time, Brazil has relatively positive prospects due to changes in government policy.
An increase in oil and gas production to meet the transportation sector’s needs is one of the key factors driving the Americas steel pipe market’s expansion. It is the oil and gas industry where steel pipes and tubes find their great use. – says a lead analyst at Future Market Insights.
Key Takeaways from Market Study:
- America’s steel pipes market is expected to secure a CAGR of 3.6% over the forecast period.
- Over 70.4% of the market share is projected to be accounted for by the United States market for steel pipes.
- In the oil and gas industries, particularly in the construction and mining sectors, the demand for this material is estimated to outpace that of the construction and mining sectors by 2033.
- In terms of finished steel, Brazil is the only country that has maintained a surplus of trade, accounting for almost half of the market share in the region and 8.7% of the global market.
Competitive Landscape:
Steel pipe manufacturers have felt a significant impact of the pandemic in the Americas. Therefore, market players are increasingly focusing on optimizing production to meet the decline in demand with a reduction in production capacity and workforce. Additionally, key manufacturers are consolidating their presence through strategic acquisitions.
Several prominent companies dominate this market, including American Cast Iron Pipe Company, Baosteel Group Corporation, Evraz Plc, Nippon Steel & Sumitomo Metal Corporation, JFE Holdings Corporation, Hyundai Steel Company, TMK Group, United States Steel, Tata Iron and Steel, VALLOUREC, Nucor Corporation, Zekelman Industries, and others.
Recent Developments:
- As steel manufacturers seek to diversify and consolidate their market presence, ArcelorMittal divested its United States assets to Cleveland Cliffs Inc. for a value of almost 1.4 billion. Additionally, the company plans to unveil new electric arc furnaces and hot dip galvanizing lines at its Calvert, Alabama, operations.
- Tenaris has announced its intention to scale back operations at its melt facilities. Due to the sharp decline in oil prices, layoffs are being made, and equipment is being idled, including at facilities in Koppel and Ambridge. In addition, the company has acquired IPSCO Tubulars, a Houston-based pipe manufacturer with a value of nearly 1.1 billion.
- Gerdau S/A has announced the reopening of its Ouro Branco plant in Minas Gerais in South Eastern Brazil, adding 1.5 million tons annually. Also, SKF has been a partner in improving the productivity of the company’s Brazilian facilities and reducing downtime. However, the Saint Paul plant may suffer substantial downsizing due to idling operations.
Elevate Your Business Strategy! Checkout the Report for Market-Driven Insights!
https://www.futuremarketinsights.com/checkout/12656
Americas Steel Pipes Market Segmentation by Category
By Material Type:
- Carbon Steel
- Alloy Steel
- Stainless Steel
By End Use:
- Construction
- Residential & Commercial
- Civic Infrastructure
- Mining
- Municipal Water Supply and Treatment Utilities
- Industrial
- Automotive
- Chemicals & Petrochemicals
- Oil & Gas Pipelines
- Power Generation
- Others (textile, pharmaceuticals)
By Design:
- Seamless
- Welded
- SAW
- ERW
By Region:
- North America
- Latin America
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
