Global stainless steel welded pipe market is expected to reach US$ 16.36 Bn in 2021 with a stable long-term projection, according to latest insights from Future Market Insights, an ESOMAR-certified research and consulting firm. The report offers analysis of 20+ high-growth markets, providing detailed insights on the stainless steel welded pipe market’s growth in the next decade.
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The stainless steel welded pipe market has been witnessing impressive growth since the past few years. This growth trend is projected to continue due to the increase in demand from the construction and automotive sectors. Stainless steel welded pipes are also used in other applications such as petrochemical & fertilizers, oil & gas, and water supply & distribution. The superior physical and chemical properties of stainless steel such as high ductility, resistance against high temperature ranges, and corrosion resistance have enabled favorable growth in the sales.
Key Takeaways
Stainless steel welded pipe market is expected to grow at 4.6% CAGR between 2021 and 2031, Investment in construction projects will remain a chief growth driver in the U.S., enabling it to account for nearly 72% sales in North America, Focus on improving public infrastructure will drive growth in the U.K. market at 5.5% CAGR between 2021 and 2031, India is expected to register increasing investment in water supply and distribution to ensure safe drinking water to all citizens and support industrialization. This will create attractive opportunities for stainless steel welded pipe sales, China will emerge as a highly lucrative market in East Asia, accounting for maximum sales of stainless steel welded pipes.“As competition continues to grow, companies operating in the market are likely to adopt strategies for strengthening their global footprint. Besides expanding operations across emerging nations, they are likely to focus on launching better quality stainless steel welded pipes to gain competitive edge” says FMI analyst.
Stainless steel welded pipe market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities to develop more in the field of construction, oil & gas and water supply and distribution, majorly focusing on the outer diameter required for the specific applications. Collaboration with local players and developing new technology in the form of advanced stainless steel welded pipes is a prime strategy expected to increase in popularity in the forecast period.
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By segmentation:
By Grade
300 Series, 304, 304L & 304H, 309 & 310S, 316, 316L, 316H, 316TI, 321/321H, 347/347H, 400 Series, 409, 410/410S, 900 Series, Nickel Alloy Grade, Duplex 2205, Duplex 2207,By Application
Construction, Automotive, Water Supply and Distribution, Oil and Gas, Petrochemical and Fertilizers, Power Generation, Others.By Outer Diameter
4 – 36mm, 36 – 60 mm, 61 – 150 mm, 151 – 500 mm, 500 – 1000 mm.By Region
North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa.The stainless steel welded pipe market is highly competitive, with the presence of a large number of players in the market. Some of the players are focusing on carving out a niche for specific consumers. The market has robust partnerships throughout the value chain, with high focus on innovations.
Manufacturers are aiming at strategic collaborations with end users and regional distributors to address the requirements of an expanding customer base. Brand consciousness and aggressive marketing make it challenging for new entrants in this market. Through these developments, companies are aiming at gaining a competitive advantage.
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Competitive Landscape
The market is fragmented, with key players accounting for approximately one fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Marcegaglia, Sosta GmbH & Co. KG, ArcelorMittal S.A., Nippon Steel, Hyundai Steel Co., Ltd, Sandvik AB, Shanghai Metal Corporation, FROCH ENTERPRISE CO., LTD., F.E.R. Fischer Edelstahlrohre GmbH, YC Inox, JFE Steel Corporation, CSM TUBE spa, Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd., Guangdong Lizz Steel Pipe Co, Ltd., Foshan Zhongde Stainless Steel Co., Ltd. & others.