An Incisive, In-depth Analysis on the Stainless Steel Welded Pipes Market
This study offers a comprehensive, 360 degree analysis on the Stainless Steel Welded Pipes market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Stainless Steel Welded Pipes market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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.
Future Market Insights (FMI) analyzes the Stainless Steel Welded Pipes Market in its new publication titled “Stainless Steel Welded Pipes Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment; 2018 – 2028”. This study provides data for 2017 along with the forecast for the period (2018–2028). The main objective of the report is to identify dynamics in the market and provide recent updates and insights pertaining to various segments of the Global Stainless Steel Welded Pipes market. To provide a better understanding of the market, the report also includes analysis of drivers, restraints and trends which influence the current market scenario and are expected to impact the Global Stainless Steel Welded Pipes market over the forecast period.The study provides data for 2017 along with a comprehensive market forecast for the period 2018–2028.
Outer Diameter Size
To understand and assess market opportunities and trends, the global Stainless Steel Welded Pipes market report is categorically split into different sections based on grade, application, outer diameter size and regions. The report starts with the market overview and provides market definition and taxonomy along with supply chain, drivers, restraints and trends in the market. The sections that follow include the global Stainless Steel Welded Pipes market analysis by grade, application, outer diameter size and Regional/country level analysis. All the above sections evaluate the market on the basis of various factors affecting the market. Each section discusses the qualitative and quantitative aspects of the global Stainless Steel Welded Pipes Market. To give a brief idea about revenue opportunities from application and region/country-wise segments, the report also provides market value (US$ Mn) data, absolute $ opportunity, and total incremental opportunity for each segment over the forecast period (2018-2028).
In the final section of the report, we have provided a detailed competition landscape with overall market structure, company market share and performance, in order to provide report audiences with a dashboard view of key players operating in the global stainless steel welded pipes market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
For market data analysis, we have considered 2017 as the base year, with market numbers estimated for 2018 and forecast made for 2019–2028. The report considers the market size of the Stainless Steel Welded Pipes market at a global level and splits & evaluates the market at a regional level. The forecast assesses the total revenue (US$ Mn) of the global Stainless Steel Welded Pipes market. In order to provide an accurate forecast, we started by sizing up the current market, which forms the basis of how the global Stainless Steel Welded Pipes marketis expected to develop in the future. The critical market data, including the base number and segment splits, was devised through in-depth secondary research. This data was then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics in the various regional markets, along with primary interviews of Stainless Steel Welded Pipes manufacturers, distributors & suppliers and industry experts operating in the global Stainless Steel Welded Pipes market. The forecast presented in the report evaluates the actual market size (US$ Mn) in 2017 with regard to Stainless Steel Welded Pipesand the expected market value in the global Stainless Steel Welded Pipes market over the forecast period.
We have also analyzed the different segments of the global Stainless Steel Welded Pipes market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global Stainless Steel Welded Pipes market. The report also analyses the global Stainless Steel Welded Pipes market based on absolute dollar opportunity. This is usually overlooked while estimating the market forecast. However, from a business development perspective, it is essential to identify absolute dollar opportunity is essential to identify potential resources in the Stainless Steel Welded Pipes market. Moreover, FMI has developed a market attractiveness index to understand the key segments in terms of their performance and growth in the global Stainless Steel Welded Pipes market. This market attractiveness index would help clients identify real market opportunities in the global Stainless Steel Welded Pipes market.
Stainless Steel Welded Pipes Market Reports - Table of Contents
20. Research Methodology