U.S. Cold Drawn Seamless Steel Pipes Market Set to Soar Past USD 24.19 Billion by 2030
The U.S. Cold Drawn Seamless Steel Pipes market size is expected to reach USD 24.19 billion by 2030 and exhibit a CAGR of 8.1% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing demand from industries such as oil and gas, automotive, and construction, growing investments in infrastructure development projects, surging demand for energy and natural resources, and replacement of ageing infrastructure are fueling the Market’s growth.
Westford,USA, Aug. 16, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest research of the U.S. cold-drawn seamless steel pipes market, increasing adoption of automation and digitalization in manufacturing processes, growing focus on sustainable and eco-friendly steel production practices, rising demand for customized and specialty steel pipes, growing emphasis on product innovation and research and development, expanding use of cold drawn seamless steel pipes in the renewable energy sector, the rising popularity of lightweight and high-strength steel pipes, increasing utilization of cold drawn seamless steel pipes in high-pressure and high-temperature applications, are the trends that aid in the market’s growth.
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- Pages -260
- Tables – 127
- Figures – 77
Cold-drawn seamless steel pipes are made by drawing a hot billet through a die and over a mandrel. This process creates a pipe with a smooth, uniform wall thickness and high strength. Cold-drawn seamless steel pipes are used in various applications, including oil and gas, automotive, and power generation.
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Prominent Players in U.S. Cold-Drawn Seamless Steel Pipes Market
- ArcelorMittal North America Holdings
- Bri-Steel Manufacturing LLC
- JFE Steel America, Inc.
- Kobe Steel USA Inc.
- Mannesmann DMV Stainless GmbH USA
- MST – Seamless Tube & Pipe
- Nippon Steel Corporation USA
- Plymouth Tube Co.
- Sandvik Materials Technology
- Salem Tube, Inc.
- PTC Alliance
- Tenaris USA
- TimkenSteel Corporation
- TMK IPSCO
- United States Steel Corporation
- Wheatland Tube Co.
- Zekelman Industries Inc.
Carbon Steel Pipes Demand to Grow Substantially in the Forecast Period
Carbon steel pipes dominated the global market owing to its high strength. They are also known for their durability and longevity. They are resistant to wear, corrosion, and extreme temperatures, making them ideal for harsh environments. In industries like construction, where pipes are subjected to various weather conditions and heavy loads, carbon steel pipes provide reliable performance and long service life.
Oil and Gas is the Leading Application Segment
In terms of application, the oil and gas segment is the leading segment due to the demand for exploration and production. In addition, cold drawn seamless steel pipes are widely used in the construction of transmission pipelines, which transport oil, gas, and other fluids over long distances. These pipelines connect production fields to processing facilities, refineries, and distribution networks. The seamless construction of the pipes eliminates the risk of leakage and ensures smooth flow, minimizing energy losses during transportation.
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United States is the leading Market Due to the Pipeline Transmission
Region-wise, the United States is one of the largest growing markets with a huge emphasis on pipeline transmission. States like Texas, Pennsylvania, Ohio, and Louisiana have traditionally had a strong presence in the oil and gas industry, which is a significant driver for the demand of steel pipes. These regions have abundant energy resources, extensive pipeline networks, and a concentration of companies involved in oil and gas exploration, production, and refining. Their proximity to major shale gas reserves, such as the Marcellus and Utica shale formations, has contributed to the demand for cold drawn seamless steel pipes in these areas.
A recent report thoroughly analyzes the major players operating within the U.S. Cold Drawn Seamless Steel Pipes market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for U.S. Cold Drawn Seamless Steel Pipes.
Key Developments in U.S. Cold-Drawn Seamless Steel Pipes Market
- JFE Holdings, Inc. acquired JFE Steel Corporation for $1.5 billion in March. This deal created a new global leader in the steel industry, with a strong presence in the cold-drawn seamless steel pipes market.
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Key Questions Answered in U.S. Cold Drawn Seamless Steel Pipes Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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