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Cold Drawn Seamless Steel Pipes Market Trends

Report ID: GMI6353
Published Date: Jul 2023
Report Format: PDF

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Cold Drawn Seamless Steel Pipes Market Trends

Cold drawn seamless steel pipes industry is significantly driven by the increasing oil and gas exploration activities worldwide. For instance, in January 2023, Huadi International Group Co., Ltd., a prominent producer of industrial stainless steel seamless pipes and tubes in China, partnered with China Huanqiu Contracting & Engineering Co., Ltd., a construction contractor for China National Petroleum Corporation. The rising number of exploration and production activities has necessitated the adoption of pipes to render the ability to withstand high-pressure and harsh environments. The widespread application of cold drawn seamless steel pipes in the oil & gas industry for drilling, extraction, and transportation of oil and gas will propel the market growth.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Market size for cold drawn seamless steel pipes was over USD 71 billion in 2022 and is set to expand at 7.7% CAGR from 2023 to 2032 owing to the rapid industrialization worldwide.

The MS seamless pipes segment accounted for 33% share of the cold drawn seamless steel pipes industry in 2022 and is estimated to expand significantly through 2032 attributed to the rising demand across various industries due to their ability to withstand high pressure and temperature conditions.

North America cold drawn seamless steel pipes was worth USD 23.7 billion in 2022 and is expected to expand at notable CAGR through 2032 driven by the robust construction and infrastructure development in the region.

Some of the key cold drawn seamless steel pipes companies are Nippon Steel Corporation, United Seamless Tubulaar Private Limited, Haudi International Group Ltd., Hunan Standard Steel Co., Ltd., ArcelorMittal S.A., Jindal Saw Ltd., and ISMT Ltd.