SAN FRANCISCO, May 31, 2022 /PRNewswire/ — A new market research report by Global Industry Analysts, Inc. (GIA), a leading market research firm, today (ERW) Pipeline – Global “Report Market Trajectory and Analysis”. The report offers a fresh perspective on the opportunities and challenges in a market that is undergoing significant post-COVID-19 transformation. Facts Overview What’s New in 2022?
Version: 21; Release: May 2022 Number of Executives: 1784 Companies: 139 – Participants covered include Al Jazeera Steel Products SAOG; APL Apollo Pipes Limited (APL); Arabian Pipelines; ArcelorMita Chell Pipe; Choo Bee Metal Industries Ltd.; EVRAZ North America; JFE Steel Corporation; Maharashtra Seamless Ltd.; Nippon Steel Sumitomo Metals Corporation; Package TMK; Mannesmann Line Pipe GmbH; Surya Roshny Ltd; Tata Steel Europe; Techint Group SpA; Ternary SA; Tenaris Corporation; .Coverage: All Major Regions and Key Market Segments Market Segments: Segments (Mechanical Steel Pipe, Line Pipe, Structural Steel Pipe and Tubing, Standard Pipe, Petroleum Pipe, Pressure Pipe) Geography: World; United States; Canada; Japan; China ; Europe; France; Germany; Italy; United Kingdom; Spain; Russia; Rest of Europe; Asia Pacific; India; Korea; Rest of Asia Pacific; Latin America; Rest of World.
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Amid the COVID-19 crisis, the global Electric Resistance Welded (ERW) Pipes and Tubes market is estimated at 67.5 million tons in 2022 and is projected to reach a revised size of 84.8 million tons by 2026, growing at a CAGR of 5.3% during the analysis period.Mechanical steel pipe, one of the segments analyzed in the report, is expected to grow at a CAGR of 5%, while the growth rate of the line pipe segment has been rescaled to a revised CAGR of 5.6%.Global demand for steel pipes and tubes, including electric resistance welded (ERW) pipes, closely mirrors trends in the oil and gas and construction industries, and is also influenced by the pace of infrastructure development projects.Given that trends in various end-use markets are significantly impacted by current economic conditions, the demand for steel pipes and tubes, including ERW steel pipes, is also significantly impacted.Traditionally, ERW pipes are mainly used for oil and gas pipelines and water/sewage transportation.However, with increased load-bearing strength, ERW pipes are now used in industries such as infrastructure, prefabricated structures, solar power plants, power plants and furniture.While the oil and gas industry is a major demand determinant for the ERW pipeline market, pipelines used in mechanical engineering and manufacturing are directly related to economic health.Manufacturers supplying pipes for infrastructure projects have a late cycle trend.Specifically, manufacturers of pipes for the grid media transportation market may benefit from long-term measures aimed at providing water and energy supplies.
Market reports say market demand will rebound in 2021, led by an improving global economy and a recovery in key markets such as construction, oil and gas, and automotive.Under favorable conditions, demand for industrial and OCTG pipelines has increased in most economies.However, the industry faces challenges from supply chain disruptions and rising raw material prices.In 2021, mass vaccination will play a key role in minimizing new wave risks and safely returning the global population to mobility.As the global economy recovered and restrictions on business, air and land travel were lifted, oil demand picked up, especially in the U.S., China and even Europe.Higher oil prices led to higher bookings in the energy sector.Post-pandemic growth in ERW pipeline pipelines is expected to increase, driven by plans by major oil and gas, fertilizer, and power companies to build multinational pipelines.A recovery in oil and gas prices and a recovery in drilling budgets are expected to encourage growth opportunities for OCTG and pipeline pipelines globally.With drilling depths and more corrosive environments, manufacturers are focusing on developing pipes with high collapse resistance and higher strength to meet increasingly complex requirements.The ERW pipe market is also expected to benefit from the growing demand for structural steel products in developing markets.Rising investment in industries such as power generation and automotive, and increased government investment in infrastructure projects such as water supply and sewerage systems bodes well for the ERW pipeline market.However, ERW pipes face increasing competition from plastic pipes in traditional applications such as irrigation, agriculture and plumbing.However, ERW steel pipes target emerging industries such as urban infrastructure, construction, subways, piped gas distribution, fire safety, shopping malls, airports and commercial passenger vehicles.In these markets, pipes and tubes are used in applications such as fencing, electrical cables, fire safety, scaffolding and bus body parts.
Expected increases in pipeline and operating pressure, along with deeper offshore drilling activities, are expected to drive demand for high-strength ERW pipelines to supply oil, water, and gas more efficiently.
Since increasing the strength of the pipe can reduce the wall thickness and weight of the pipe, manufacturers are constantly exploring ways to improve the strength and performance of pipeline steel.Asia Pacific is the largest regional market for ERW pipes.Growth in the U.S. market is largely attributable to a recovery in E&P spending, as the country places particular emphasis on developing huge shale reserves to meet rising energy demand and achieve energy security.In the Asia Pacific region, the market is expected to benefit primarily from increasing industrialization in the region, followed by rapid infrastructure growth.This is mainly attributable to strong economic growth in various countries in these regions, as well as increased activity in end-use sectors such as oil, power and refineries.In addition, demand is also expected to come from the automotive, home appliances, motorcycles, and construction markets, mainly driven by rising personal incomes.China is one of the key regional markets and pipeline consumption is expected to increase, driven by rising domestic demand.On the other hand, India’s public and private sectors are increasing investments to develop pipeline infrastructure for domestic gas distribution, water supply and irrigation.In North America, industries such as construction, oil and gas provide significant opportunities for steel pipe manufacturers.Products such as oil well tubulars (OCTG) and structural pipes in particular have great potential due to increased offshore drilling and exploration activities and the addition and repair of existing water in the long run.
The Russian invasion of Ukraine and sanctions imposed on Russian operations have led to inflationary pressures and high commodity prices.Oil and gas prices surged in early 2022 and are expected to rise further as European countries seek alternative sources of Russian oil and gas exports.Furthermore, current levels of oil and gas production are not in line with global demand as inventories continue to be low.OCTG pipeline demand picks up in 2021 as global drilling activity improves, led by North America.Offshore drilling activity increased, led by Latin America.In addition, pipeline projects in the Middle East, China, and the Mediterranean and Black Sea are increasing.High consumption of the OCTG pipeline also led to increased consumption.The industry is expected to benefit from lower inventory levels in the market as demand remains strong in most markets.Growth in global oil and gas capital spending, supported by rising oil prices, bodes well for the market.North America, followed by Latin America, is expected to grow the fastest, while Asia is expected to lead in overall capex, slightly ahead of the Middle East.This trend, along with a continued recovery in drilling activity, is expected to help U.S. shale plays show production growth.The North American market is expected to further benefit from high investment by Canadian companies.On the other hand, China could benefit from notable efforts by major players.Sinopec will invest heavily in boosting oil and gas drilling in line with China’s strategy to improve energy security and protect itself from highly volatile commodity markets.In addition, China Petroleum & Chemical Corporation is expected to drive capital expenditures, including large allocations for drilling.Companies are expected to be cautious about less profitable projects due to fears of falling prices.These moves are expected to push up prices further due to low levels of investment.Capital expenditures are expected to continue positive growth in 2023 and reach pre-pandemic levels in 2024.
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