Introduction
Stainless steel is an iron-based alloy that usually contains chromium and other elements that enhance material properties. Stainless steel offers high resistance to corrosion and oxidation at higher temperatures. This particular property can be attributed to the amount of chromium present in the alloy and owing to this particular property, steel products, such as pipes and tubes, are widely used in a variety of applications in many end-use industries.
Stainless steel pipes are generally of two types: welded pipes and seamless pipes. Generally, more than 90% of the stainless steel pipes consumed are welded ones. Low cost and ease of manufacturing are the key reasons responsible for higher popularity of welded pipes over seamless pipes. The global Stainless Steel Welded Pipes market is expected to register a CAGR of 4.5% over the forecast period (2018-2028) in terms of value.
Factors Influencing the Global Stainless Steel Welded Pipes Market Growth
Rapid industrialization and urbanization across some of the fastest growing economies in the world have resulted in increased demand for steel pipe. Instrumentation equipment, automotive, industrial piping, water supply, food & beverage, petrochemicals and construction sectors need complex piping solutions, which have been presented to them in the form of welded stainless steel pipes.
Although stainless steel is much less corrosive and easy to fabricate, it has some disadvantages over carbon or mild steel. Carbon steel is stronger, malleable and offers better thermal conductivity than stainless steel.
Due to these reasons, carbon steel is used in the manufacturing of heavy equipment across a wide range of industries. However, stainless steel weighs more than carbon steel, but is also much more economical. Given its different applications, carbon steel may not be a direct threat to stainless steel.
However, with advancements in fabrication and welding technologies, carbon steel may hamper the growth of stainless steel welded pipes.
Global Stainless Steel Welded Pipes Market Segmentation and Forecast
On the basis of grade, the 300 series segment is slated to dominate the Stainless steel welded pipes market throughout the forecast period. Attributing to increasing demand for stainless steel pipes from all end-use industries owing to greater corrosion resistance offered by stainless steel pipes compared to other substitutes in the market.
The segment is expected to be the fastest growing segment in terms of grade types in the Stainless steel welded pipes global market during the forecast period. In terms of market value, the 300 series grade segment is expected to expand at a CAGR of 4.5% between 2018 and 2028.
On the basis of application, the construction segment is estimated to emerge as one of the most attractive segments in the global stainless steel welded pipes market. The segment has higher CAGR index than other segments, indicating that future growth prospects for the construction segment are expected to remain strong.
On the basis of outer diameter, the 61 – 150 mm segment is expected to remain the most attractive in terms of demand for stainless steel welded pipes. Major revenue generating categories of stainless steel welded pipes, such as 36 – 60mm and 61 – 150 mm, will witness significant demand from the construction and food & beverage processing industries.
Global Stainless Steel Welded Pipes Market Analysis, by Region
From a regional perspective, the Stainless Steel Welded Pipes market in the Asia Pacific region is anticipated to dominate the market in terms of volume and value demand. The market in the region is expected to be significantly driven by demand from developing nations, such as India and China.
China, in the global market, is anticipated to dominate the market in terms of volume and value, which can be mainly attributed to the presence of a majority of stainless steel welded pipes manufacturers and consumers.
Moreover infrastructural developments in the country are also creating healthy demand for stainless steel welded pipes. The country is pegged to grow with impressive CAGR between 2018 and 2028. Moreover, the Stainless steel welded pipes market is expected to emerge as the most lucrative market in the world during the forecast period.
Key Players Dominating the Global Stainless Steel Welded Pipes Market
Some of the market participants involved in the production of stainless steel welded pipes are Arcelor Mittal, Nippon steel & Sumitomo metal corporation, Sosta, Marcegaglia Steel, Hyundai Steel Company, Sandvik, Baosteel Group corporation, Shanghai Metal Corporation, FROCH ENTERPRISE CO., LTD., F.E.R. fischer Edelstahlrohre GmbH, Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd. (Panyu Chu Kong Steel Pipe Co., Ltd.), Guangdong Lizz Steel Pipe Co,Ltd. etc.
Market segmentation:
Grade
- 300 Series
- 304,304 L & 304 H
- 309 & 310 S
- 316,316 L,316 H,316 Ti
- 321/321 H
- 347/ 347 H
- 400 Series
- 409
- 410/410 S
- 900 Series
- Nickel Alloy Grades
- Duplex 2205
- Duplex 2207
Application
- Construction
- Automotive
- Water Supply & Distribution
- Oil & Gas
- Petrochemicals & Fertilizers
- Power Generation
- Others
Outer Diameter Size
- 4- 24 mm
- 24-36 mm
- 36-60 mm
- 60-150 mm
- 150-500 mm
- 500-1,000 mm
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- Japan
- India
- South East Asia (SEA) and Pacific
- Middle East & Africa (MEA)
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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