SOURCE Research and Markets
DUBLIN, Feb. 21, 2019 /PRNewswire/ --
The "Industrial Tubes Market by Type (Process Pipes, Mechanical, Heat Exchanger, Structural), Material (Steel, Non-steel), Manufacturing (Seamless, Welded), End-use (Oil & Gas and Petrochemical, Automotive, Chemical), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The industrial tubes market is estimated to be USD 478.0 billion in 2018 and is projected to reach USD 632.6 billion by 2023, at a CAGR of 5.8%.
Majority of industrial tubes are consumed in the oil & gas and petrochemical, construction, and automotive industries. Capacity expansion in these industries creates the demand for industrial tubes. Growth in automobile production in North America and APAC is favorable for the industrial tubes market.
The growth in the construction industry will have a favorable impact on the growth of the industrial tubes market. The global construction output is expected to grow by 85% to reach USD 15.5 trillion by 2030. China, the US, and India, three major countries, are expected to contribute more than 50% to the overall growth of the construction industry due to the economic growth in these economies. This overall growth in the end-use industries is expected to drive the industrial tubes market.
The oil & gas and petrochemical industry segment accounted for the largest market share.
The oil & gas and petrochemical industry accounted for the largest market share in the industrial tubes market. In the oil & gas and petrochemical industry, process pipes are mainly used for transportation, extraction, and processing. These tubes are made from steel, which is suitable for handling the aggressive environments in the oil & gas wells sour from hydrogen sulfide, carbon dioxide, and other chemicals. In this industry, casing and boring tubes are used, which are generally 9 m long. This industry has a high consumption rate of tubes owing to its challenging operations, which make this industry a prominent consumer of industrial tubes. This scenario has led the oil & gas and petrochemical industry to become the largest consumer of industrial tubes.
APAC is the largest and projected to be the fastest-growing industrial tubes market.
APAC is estimated to account for the largest share of the industrial tubes market in 2018, owing to the rapidly growing expansion in petrochemical, chemical, automotive, and construction industries, which creates demand for industrial tubes. APAC is the largest consumer of oil & gas and petrochemical, chemical, and automotive products owing to its large demographics. The APAC region is expected to generate two-thirds of the global petrochemical products demand over the next decade.
Robust coal-to-gas switch policies across China and India are expected to boost the demand for natural gas. APAC's natural gas demand is expected to increase by 60% by 2030 to reach 337 million tons per year. This scenario in the region is favorable for the growth of the industrial tubes market during the forecast period.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Industrial Tubes Market
4.2 Industrial Tubes Market, By Material
4.3 Industrial Tubes Market, By Manufacturing Method
4.4 Industrial Tubes Market, By Type
4.5 Industrial Tubes Market, By End-Use Industry
4.6 Industrial Tubes Market in APAC, By End-Use Industry and Country
4.7 Industrial Tubes Market: Major Countries
5 Macro Indicator Analysis
5.1 Macro Indicator Analysis
5.2 Real GDP Growth Rate Forecast of Major Economies
5.3 Energy Consumption Data
5.4 Crude Oil Production Data (Million Tonnes)
6 Market Overview
6.2 Market Dynamics
220.127.116.11 Increasing Consumption of Steel Tubes in End-Use Industries
18.104.22.168 Increasing Energy & Power Production
22.214.171.124 Effective Characteristics and Properties of Industrial Tubes
126.96.36.199 Saturated Markets Have Less Demand for Industrial Tubes
188.8.131.52 Increase in Offshore Spending and New Oilfield Discoveries
184.108.40.206 Volatile Prices of Raw Materials
220.127.116.11 Stringent Government Regulations in Different Countries
6.3 Porter's Five Forces Analysis
6.3.1 Threat of New Entrants
6.3.2 Threat of Substitutes
6.3.3 Bargaining Power of Buyers
6.3.4 Bargaining Power of Suppliers
6.3.5 Intensity of Competitive Rivalry
7 Industrial Tubes Market, By Material
7.2.1 Carbon Steel
18.104.22.168 Industrial Tubes Made From Carbon Steel are in High Demand From Various End-Use Industries
7.2.2 Stainless Steel
22.214.171.124 Stainless Steel Tubes Offer Excellent Chemical and Corrosion Resistance, Which Makes them Highly Suitable for Use in Various Industries
7.2.3 Alloy Steel
126.96.36.199 Excellent Properties of Alloy Steel Drive Its Demand in Various End-Use Industries
188.8.131.52 Sanitary Systems, Medical Equipment, and Hvacr Systems Have A High Demand for Tubes Made From Non-Steel Materials
8 Industrial Tubes Market, By Manufacturing Method
8.2.1 Seamless Industrial Tubes are Expected to Witness High Cagr During the Forecast Period
8.3.1 Welded Industrial Tubes Dominated the Industrial Tubes Market With A Higher Market Share
9 Industrial Tubes Market, By Type
9.2 Process Pipes
9.2.1 Growth in Upstream Expansion Projects in APAC is Expected to Drive the Demand for Process Pipes
9.3 Structural Tubes
9.3.1 Commercial Infrastructure Projects are Driving the Demand for Structural Tubes
9.4 Heat Exchanger Tubes
9.4.1 Growing Demand for Hvacr Systems is Expected to Generate A Positive Impact on the Heat Exchanger Tubes Segment
9.5 Mechanical Tubes
9.5.1 The Growth of the Automotive Industry and Increased Demand for Mechanical Machinery are Expected to Drive the Mechanical Tubes Demand
9.6 Hydraulic & Instrumentation Tubes
9.6.1 High Tensile Strength and Corrosion Resistance Properties Drive the Demand for Hydraulic & Instrumentation Tubes
10 Industrial Tubes Market, By End-Use Industry
10.2 Oil & Gas and Petrochemical Industry
10.2.1 Oil & Gas and Petrochemical Industry Leads the Industrial Tubes Market
10.3 Automotive Industry
10.3.1 Global Growth in the Automotive Industry is Driving the Demand for Industrial Tubes
10.4 Construction Industry
10.4.1 Structural Welded Tubes Have A High Demand From the Construction Industry
10.5 Mechanical & Engineering Industry
10.5.1 Rapidly Growing Industrialization Drives the Industrial Tubes Market in This Segment
10.6.1 Expansion in the Chemical Industry is Expected to Drive the Market for Industrial Tubes
11 Industrial Tubes Market, By Region
12 Competitive Landscape
12.2 Market Ranking of Key Players
12.3 Competitive Scenario
13 Company Profiles
13.1 Nippon Steel & Sumitomo Metal Corporation
13.2 Vallourec S.A.
13.3 Sandvik AB
13.5 Tata Steel
13.7 United States Steel Corporation
13.10 AK Tube LLC
13.11 Other Companies
13.11.1 Acciai Speciali Terni S.P.A.
13.11.2 Kme Germany Gmbh & Co Kg
13.11.4 Hutmen S.A.
13.11.6 Tubos Apolo
13.11.7 Ratnamani Metal & Tubes Ltd.
13.11.8 Jindal Saw Ltd.
13.11.9 Heavy Metals & Tubes Ltd.
13.11.10 Ssp Corporation
13.11.11 Divine Tubes Pvt. Ltd
13.11.12 Sanghvi Overseas
13.11.14 Eisenbau Krmer Gmbh
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