A Global Steel Pipes & Tubes Market Research in Future
Generally speaking, the dynamics of the steel pipes industry are closely intertwined with the trends in the construction and also oil & gas industries. Besides, it may be also influenced by the pace of infrastructure projects. As a result, economic development and industrialization are two primary growth drivers for the global steel pipes and tubes market. However, after the steel and non-ferrous pipes market witnessed a sharp decline in demand during the recession, with the global economy on a recovery mode, the demand for steel pipes and tubes is expected to grow led by increased demand from various end-user sectors, specifically from emerging markets.
Asia-Pacific and Latin America are among the fastest growing markets for steel pipes and tubes due to their high economic growth and increased activity in various end user sectors including oil, power, and refineries. Robust growth in Asian countries such as India and China is driven by large population base, and the enormous investments being made into large-scale infrastructure investments. Increasing energy needs, and intensifying activity in the construction and power plant sectors are also expected to drive the development of the steel pipe industry in the region.
Russia is among the largest steel pipe manufacturers in the world. The rise in pipe output is driven by the increase in capital expenditure by leading oil companies and the rising oil prices. Recovery of the pipe production activity in Russia, subsequent to the economic crisis, is attributed to the pent-up demand from the oil and gas sector. The demand for Electric Resistance Welded Pipes (ERW), used for drilling and distribution operations in the oil and gas sector, in Russia is forecast to grow steadily by 2016.
So far, it seems that the increasing energy security investments of global governments particularly from developing regions are likely to generate steady demand for cold rolled steel pipes. In developed countries, growth opportunities are anticipated due to the need for replacement of existing pipeline systems that are more than 25 years old. Rapidly expanding population, improving standards of living, and steady economic growth are expected to Global demand for steel pipe is projected to advance 3.5 percent per annum through 2019 to 79.7 million metric tons, with growth paced by continued strong increases in developing markets.
For example, today’s China as the world’s largest national market, with 30 percent of global demand in 2014, was a primary driver of demand growth for steel pipe between 2004 and 2014. Through the forecast period, advances in steel pipe demand in China are projected to decelerate significantly. Nevertheless, growth will remain above the global average. Meanwhile, the steel pipe price somewhat is floating in China while the whole trend is relatively stable. On the other hand, In contrast to slowing growth in the Chinese market, demand for steel pipe in several other countries in the Asia/Pacific region is forecast to accelerate through 2019. India will see a strong improvement in growth, driven by rising construction spending, and improvements in manufacturing sectors, and Indonesia will see accelerating demand supported by its manufacturing segment. South Korea will see improved growth through 2019 after slow expansion between 2009 and 2014.
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