The seamless pipes market was estimated to be USD 183.79 billion in 2017 and is projected to reach USD 237.11 billion by 2022, at a CAGR of 5.2% during the forecast period from 2017 to 2022. The demand for seamless pipes is mainly driven by the growing demand from various end-use industries. Welded pipes are being rapidly replaced by seamless pipes, as they provide better strength as compared to welded pipes.
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Steel is one of the most preferred materials used for the manufacturing of seamless pipes, owing to its superior physical properties. Based on material, the steel & alloys segment is estimated to be the largest segment of the seamless pipes market in 2017. The growing use of seamless steel pipes in the oil & gas, infrastructure & construction, and automotive industries is anticipated to boost the growth of the segment in the coming years across different regions.
Based on end-use industry, the oil & gas segment is estimated to be the largest segment of the market in 2017. The infrastructure & construction end-use industry segment of the seamless pipes market is projected to witness the highest growth during the forecast period. Seamless pipes are majorly used in the transport of oil and gas in the oil & gas industry and critical chemicals in chemical manufacturing plants. The pipes are also used in various drilling activities and for the manufacturing of different automobile components. Seamless pipes are used in structural tubing applications, power plant projects, and boilers. The demand for large diameter seamless pipes in infrastructure projects is expected to witness significant growth in Asia Pacific. The initiation of the Myanmar-China oil & gas pipeline project is expected to fuel the growth of the seamless pipes market in the region. This is a 770-kilometer pipeline project and is expected to carry around 260,000-barrels-per-day (bpd) of oil products. The execution of this project will lead to significant growth in demand for large diameter seamless pipes.
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Asia Pacific, North America, and Europe are the major regional markets for seamless pipes. The increasing demand for seamless pipes from the infrastructure & construction sector in Asia Pacific and North America region is expected to drive the seamless pipes market in these regions. Seamless pipes are used in water supply, sewage transport, and so on. Apart from the infrastructure & construction segment, the consumption of seamless pipes in the automotive end-use industry is also expected to be significant in North America. Seamless pipes are widely used in the automotive industry in applications, such as chassis and suspension, steering system, transmission system, power train components, and so on. Russia is expected to be a major market for seamless pipes in Europe. Some of the important oil & gas pipeline projects are being executed in Russia, which is expected to fuel the demand for seamless pipes in the country.
Asia Pacific is estimated to account for the largest share of the seamless pipes market in 2017, and the seamless pipes market in Asia Pacific is expected to witness the highest growth during the forecast period. Growing investments in infrastructural development and construction projects is a key factor expected to drive the growth of the seamless pipes market in the region. Some of the leading manufacturers of seamless pipes are based in Asia Pacific and are expanding their presence and supply chain to cater to the rising demand from the infrastructure & construction end-use industry in the region.
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