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LONDON , Nov. 7, 2022 /PRNewswire/ -- The Global Seamless Steel Pipes Market size is expected to grow from $62.91 Billion in 2021 to $95.22 Billion by 2028 at a compound annual growth rate (CAGR) of 6.1%. The seamless steel pipes market all over the world has been expected to grow at a high rate in the coming years. The seamless steel pipes market is going to grow as the share of the seamless steel pipe has been accounting for over half of the market in the last few years. The seamless carbon steel, stainless steel pipes and alloys steel are ones which are widely utilized as the line pipes for transport fluids like chemicals and oils. These have also found usage as the structural components in the construction, automotive as well as the mechanical sectors.
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Global Seamless Steel Pipes Market Outlook (2022-2028)
The biggest chemical, power and oil and gas plants all over the world prefer the seamless steel pipes over the traditional ones. These enhance the lives of transmission lines which are used for the transfer of fluids in the chemicals and related industries and lower the spending overall on the transmission lines through the amortized years.
The growth of the population and urbanization happening rapidly is going to expand in the coming years which has been leading to the increase in the oil consumption and that growth in consumption is going to happen quicker than was anticipated. Further, there is a need for the energy in developing nations that has been driven by major factors. Rapid growth in the economies and advancement in technology which is going to supplement the growth of the seamless steel pipes market.
Some major key players for the global seamless steel pipes market report cover prominent players like -
Seamless Steel Pipes Market: Segmentation Analysis
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Market growth comparison pertaining to the historical years and forecast timeline of 2022-2028
Steel is a major part of almost all the industries from the construction to automotives. The crude steel is going to be extracted from the iron ore which are processed using the coke/coal followed by a reduction which happens using the limestone in basic oxygen furnace. Rapid increase in urbanization and population have seen a surge in construction activities and the consequent resource utilization along with power plants and other utilization.
There is further growth in the seamless steel pipes market which has been creating an abundance of the raw materials for the seamless steel manufacturers. In contrast, there is a reduction of the steel prices in countries like China which have a higher abundance of steel which may be observed. This has allowed the manufacturers to stabilize the prices which may be reflected in all of the other segments in this market. Carbon emission is a huge concern for every product that is steel based in the manufacturing units all-across the world.
The modern furnaces also emit a lot more carbon into atmosphere which is a huge issue if the emissions are going beyond the limits which are given in the law like the Paris Law in the European Union and Clean Air law in the United States as the companies are switching to the traditional electric arc-furnaces as their solution. The electric arc furnaces are used for their high melting point alloys like iron and steel which uses the graphite electrodes for heating metals with lesser emissions and producing the metal billets that are used in the form of raw materials. This increases the seamless steel pipes market growth consistently.
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On September 10th, 2022 - Venus Pipes & Tubes has been recognized as the All India First (AIF) manufacturer to achieve the Bureau of Indian Standards (BIS) approval for stainless steel seamless and welded pipes and tubes. At Venus, they give top priority to quality and consistency for their products with their in-house quality control team, and this recognition is a testimony to their high-quality products and processes for manufacturing pipes and tubes."
On January 15th, 2022 - The Tiruchi Seamless Steel Tube Plant (SSTP) of BHEL produced seamless steel tubes of import option T91 (SA213) grade. At a function held here recently, Anil Kapoor, Director, HR & Energy, BHEL, flagged off steel pipes made of steel blooms.
On November 6th, 2021 - The Ansteel Group successfully developed martensitic stainless steel seamless pipes. This product opens the seamless steel tube continuous rolling mill high-alloy steel pipe production process, overcomes the short service life problem of martensitic stainless steel perforated plugs, and fills the gap in the field of high-CO2 corrosion-resistant oil well pipe products of Anshan Iron and Steel Group.
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