Stainless Steel Welded Tube Market Size, Share, Growth, and Industry Analysis, By Type (Round Tubing, Square Tubing, Rectangular Tubing), By Distribution (Oil and Gas, Food Industry, Automotive, Chemical Industry, Construction, Water Treatment, Pharmaceutical, Other), Regional Insights and Forecast To 2032

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STAINLESS STEEL WELDED TUBE MARKET REPORT OVERVIEW

global stainless steel welded tube market size was USD 26.04 billion in 2023 and market is projected to touch USD 38.77 billion by 2032 at CAGR 5.1% during the forecast period.

The stainless steel weldedmarket entails the production and distribution of stainless steel tubular products using welding techniques. Because of the distinctive features of stainless steel, such as resistance to corrosion, strength, and durability, these tubes and pipes have extensive applications in a variety of industries, including oil and gas, petroleum products, construction, and automotive. The welding technique ensures the tubular products' integrity and reliability, making them appropriate for carrying fluids, gasses, and structural applications.

Key drivers are propelling the development of the market. To begin, the market is driven by the growing popularity of the oil and gas industry, since stainless steel welded tubing and pipes are vital components in research, production, and transportation activities.

The market includes a variety of stainless steel levels, such as austenitic, ferrous, and mixed stainless steels, each customized to specific industry needs. The growing need for resilient and corrosion-resistant tube products in critical uses where efficiency and longevity are crucial is driving the market.

COVID-19 IMPACT

"Weaker Spending on End-Use Sectors to Reduce Market Growth"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 outbreak had a substantial influence on the stainless steel welded tube market growth. The market had previously encountered some hurdles during the year 2019 and the worldwide outbreak has compounded these issues. Demand fellin 2020 as a result of weaker spending on final-use sectors including oil and gas, building, and automotive.

COVID-19 has caused considerable output and supply disturbance in every manufacturing sector across several areas. The pandemic has also reduced the yearly increase of stainless steel along with its derivatives, especially stainless steel welded tubes. Because of the COVID-19 outbreak, the stainless steel welding tube industry has been badly damaged by a decrease in non-essential product sales and an increase of liquidity.

LATEST TRENDS

"Employment in Construction Industry to Stimulate Market Development "

Furthermore, the construction industry benefits from the usage of these tubular goods in structural uses, where the strength and resistance to corrosion of stainless steel are crucial to preserving the integrity of the framework of structures and facilities.

STAINLESS STEEL WELDED TUBE MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into round tubing, square tubing, and rectangular tubing.

• Round Tubing: Round tubing is defined by its real outside diameter, which is equal to the size. A gauge number specifies the thickness of a tube. The OD of the tube remains constant regardless of wall thickness. In addition, tubing has a tighter manufacture tolerance compared to pipe.

• Square Tubing: Square tube has several applications in building. Square tubes are utilized as columns in bridges, structures, and towers, among other places. Aside from building, square tubes are used as bracket and platforms for rooftop solar panels and sun mounts, as well as bases for truck, trailer, and rail car production.

• Rectangular Tubing: Steel rectangular tubing serves as a strong, sturdy, rugged, and long-lasting building material with practically limitless applications. Rectangular steel tube can be used statically or dynamically due to its close tolerances, dense construction, and superior finishing abilities.

By Application

Based on application the global market can be categorized into oil and gas, food industry, automotive, chemical industry, construction, water treatment, pharmaceutical, other.

• Oil and Gas: Given their high yield strength and resistance to stress corrosion cracking, stainless steel weldedhave a wide application in the gas and oil industries.

• Food Industry: Because of its high corrosion resistance and simplicity of cleaning, stainless steel is both robust and hygienic, which are all important qualities in the industry of food preparation. Food safety begins with strict sanitation, and stainless steels containing nickel are the superior, dependable standard at all stages of the food chain.

• Automotive: Hose clamps, cylinder gaskets, pumping bodies, thermal shields, windshield wipers, airbag inflation-gas tanks, and seatbelt springs are all made of stainless steel. This is because of its resistance to corrosion, manufacturing capability (friendliness to fabrication), and robust mechanical qualities.

• Chemical Industry: Being that stainless steel can withstand attacks from extremely corrosive chemicals, it is a popular material in the chemicals and petrochemical sectors.

• Construction: Stainless steel is utilized in constructions that are resistant to explosions and impacts, such as explosion and safety walls, gates, security barriers, and bollards. Because of its outstanding ductility and strain-hardening properties, it can withstand significant impact without shattering.

• Water Treatment: The primary rationale for using stainless steels is their exceptional resistance to metal ion contamination of drinkable water. The material has been employed in over 75 installations since 1965 for big, central-control gravity filters in water treatment plants, with good performance.

• Pharmaceutical: Stainless steel serves as a highly adaptable material that offers numerous benefits to pharmaceutical companies and researchers. It is long-lasting, corrosion-resistant, and non-toxic, which makes it perfect for practically all stages of the drug's journey from the research facility to the drugstore shelf.

DRIVING FACTORS

"Increment in End User Satisfaction to Support Market Expansion "

Stainless steel welded pipes usually find use in construction, automobiles water delivery and distribution, petroleum and natural gas, petrochemical and chemical fertilizers, power generation, and other industries.

Competitive price offerings, increased end user satisfaction with regard to material qualities, and increased strength inside stainless steel welded pipes represent the end results of research and development activities.

"Expanding Research and Development Expenditures Industry Progress"

Expanding research and development expenditures through cooperation or collaborations on projects benefits manufacturers in the market. Furthermore, building sales and service operations in growing markets, in conjunction with long-term agreements with regional distributors, provides the way for channel reach to be expanded.

RESTRAINING FACTOR

"Paucity of Needed Supplies to Stop Market Evolution "

The market is challenged by a paucity of needed supplies and competent labor for producing stainless steel pipework and tubes. The cost of implementation is extremely costly when compared to other solutions on the market, which is also a key difficulty because it reduces its market appeal, resulting in a lack of revenue.

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STAINLESS STEEL WELDED TUBE MARKET REGIONAL INSIGHTS

"Asia Pacific Authority over the Marketplace Due to Increasing Demand from Growing Nations "

"The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa."

Due to infrastructure developments and increasing demand from growing nations such as India and China, Asia Pacific is expected to lead the stainless steel welded tube market share, with China becoming one of the countries with the majority of established producers within the region. The region, is expected to demonstrate profitable growth throughout the projected period due to rising consumer demand from the construction and automotive sectors in the region.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. Themarket report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market areexpected to benefit from substantial growth opportunities in the near future.

List of Top Stainless Steel Welded Tube Companies

• Marcegaglia (Italy)
• Fischer Group (Germany)
• ThyssenKrupp (Germany)
• Baosteel (China)
• ArcelorMittal (U.K.)
• Yeun Chyang Industrial (China)
• Butting (Spain)
• Froch (China)
• Arvedi (India)
• Zhejiang JIULI Hi-tech Metals (China)
• Outokumpu (Finland)
• RathGibson (PCC) (U.S.)
• Tenaris (U.K.)

INDUSTRIAL DEVELOPMENT

June 2023: Nippon Steel Corporation revealed the development of a novel method for making steel tubes that has the potential to drastically reduce carbon emissions. The new technology uses hydrogen instead of coal, which reduces emissions of carbon.

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolutiontrend, opportunities in themarket, important market drivers, and SWOTopportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.