Mirror of the Markets: news from the tubes & pipes industry

Following the positive reception of our inaugural issue on the wires & cables industry, Expometals.net continues its "Mirror of the Markets" column, designed to provide essential insights into significant market trends. Aimed at supporting professionals and interested readers in understanding current developments and emerging opportunities, this edition focuses on the steel tubes & pipes sector. In addition to briefly covering basic knowledge such as definitions, differences between tubes and pipes, and common manufacturing methods, we will also explore market size, key application areas, geographical trends, and technological advancements. The article concludes with an outlook on future trends and a review of the latest market reports.

The column is authored by Dipl.-Ing. Konrad Dengler, a seasoned engineer and technical journalist with a rich materials science and industrial topics background. Published every two months, "Mirror of the Markets" covers a wide range of subjects in the metalworking sector. Each edition offers a comprehensive overview, helping professionals stay informed about the latest developments and potential growth opportunities in their industries.

Definition of tubes and pipes 

Tubes and pipes are hollow cylinders made from various materials, with steel being commonly used for transporting fluids or in mechanical structures. For more details, please refer to our Metalworking Basics technical guide: Tubes - the basics.

The difference between tubes and pipes 

Although the terms "tubes" and "pipes" are often used interchangeably, they have distinct technical differences in terms of application and structure. For a detailed explanation, access our Metalworking Basics technical handout: Tubes - the basics.

Tubes and pipes: production methods

Steel pipes are manufactured using two primary methods: seamless and welded. Seamless pipes are made by punching a heated steel billet and shaping it through rolling processes. Welded pipes, on the other hand, are formed from sheet metal, bent, and sealed using methods such as Electric Resistance Welding (ERW) or Submerged Arc Welding (SAW). Tubes can also be resized through cold drawing or formed via extrusion, especially for non-ferrous materials.

For a more detailed explanation, please refer to our Tube and Pipe Manufacturing technical handout.

Steel tubes & pipes market size 

According to market research by Grand View Research, the global steel tubes and pipes market was valued at over US$133 billion in 2023 and is projected to grow from nearly US$135 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%, reaching over US$192 billion by 2030.

As for stainless steel pipes and tubes, Business Research Insights estimates the global market size was nearly US$34 billion in 2022 and is expected to reach US$52 billion by 2031, with a CAGR of 4.8%.

Application areas

Tubes and pipes made from various steel grades are widely used in the oil and gas industry across different applications. In upstream operations, they are known as Oil Country Tubular Goods (OCTG), while in midstream activities, they are employed for the transmission and distribution of oil, gas, fluids, acids, steam, and slurries. Downstream, they are essential for refining processes. Beyond the oil and gas sector, steel pipes are vital for transmission and distribution tasks in industries such as chemicals, pharmaceuticals, food, and beverages.

Utilities also rely on steel pipes and tubes for water management, distribution networks, and sewage systems. Additionally, they are important in irrigation infrastructure for agriculture, as well as in emerging fields like hydrogen (H₂) generation and CO₂ treatment.

In the energy sector, water piping systems are critical for operations and cooling processes in coal, gas, hydro, and nuclear power plants. Tubular products also play key roles in building plumbing, heating, ventilation, and air conditioning (HVAC) systems, as well as structural elements like foundations, balconies, railings, and cable protections.

The automotive industry accounts for about 15% of the global steel tube and pipe market. Tubes offer significant potential, particularly in vehicle frames, chassis, and powertrains, where their lighter and stiffer properties compared to solid rods help reduce overall vehicle weight. This is especially beneficial for electric vehicles (EVs), as it helps offset the weight of heavy batteries.

Geographic regions: market dominance and growth trends in steel tubes and pipes

Asia Pacific, led by countries such as China, South Korea, India, and Japan, dominated the steel tubes and pipes market in 2023, accounting for over 60% of global revenue. The region is expected to grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2030, with China being the fastest-growing market.

North America held the second-largest share of global market revenue in 2023. Increasing investments in pipeline network construction to support oil and gas supply are expected to drive demand for steel pipes in the coming years. As of January 2024, nearly 42,000 miles of pipeline were under construction, with over 80,000 miles in the planning stages, according to the Pipeline & Gas Journal.

Market trends

In the past, quality, delivery time, and cost were the primary business criteria for tube and pipe manufacturers. Today, additional factors such as geopolitical and logistical risks, along with current and future energy costs, have become increasingly important. In Europe, high energy prices and CO₂ levies are putting pressure on producers, while regions like China, the USA, India, and Türkiye benefit from lower energy costs.

Demand for steel pipes and tubes is being driven by increased investments in the oil, gas, and chemical industries, along with ongoing urbanization and industrialization, particularly in developing economies. Infrastructure projects across various sectors further contribute to this demand. Additionally, rising government investments worldwide aim to improve water supply, sewage systems, and replace aging pipes, fueling further growth.

Geopolitical challenges and the need for industry decarbonization are also having a lasting impact on the global pipe market. New opportunities have emerged from decarbonization efforts, such as carbon capture, utilization, and storage (CCUS), and the development of "green" hydrogen (H₂) generation and transportation networks. 

For more insights into the critical role of tubes and pipes in the hydrogen industry, you are invited to read the article "Navigating the hydrogen pipes market" where we explore hydrogen's role in Europe's roadmap to carbon neutrality and the challenges surrounding hydrogen production, storage, transportation, and distribution.

In addition to these shifts, the construction sector is becoming increasingly attractive. Innovative architectural solutions are driving the demand for tubular products, further expanding their application in modern building projects.

Technological trends

Research and development (R&D) efforts are increasingly focused on sustainable practices, advancements in coating technologies, and innovations in material composition. For steel pipes used in hydrogen transmission, studying their behavior regarding hydrogen embrittlement is essential. Additionally, innovative AI-based technologies are being explored to enhance productivity and improve customer benefits.

Boosting productivity in ERW tube welding

Engineer Jacopo Grassino, with over 20 years of experience in the steel and tube industries, has authored a series of articles on ERW tube welding lines on Expometals.net. His works covered critical topics such as revamping vs. replacing production lines, the importance of extraordinary maintenance, and strategies for boosting production volumes through shorter campaigns. 

Outlook

Considering the wide range of application areas and the ongoing investment activities, manufacturers of tubular goods and suppliers of production equipment can anticipate growing order volumes in the coming years, along with increasingly complex and demanding projects.

International professional associations in the tubes & pipes industry

Explore them all >> 

Conferences & trade fairs in the tube branch

Expometals.net provides a comprehensive listing of major conferences, trade shows, and industry events on its Events page, covering the tubes and pipes industries, among others. The search functionality allows users to filter by date range and specific sectors of interest (e.g., Tube), making it easy to find relevant events.

Upcoming key trade fairs include Tube China and Tube India in September and November 2024. However, the flagship event of the industry is Tube Düsseldorf, held every two years in Germany, with the next edition scheduled for 2026.

Latest market reports on tubes & pipes

(the following list does not claim to be exhaustive)

Steel Pipes & Tubes Market Size, Share & Trends Analysis Report By Technology (Seamless, ERW, SAW), ..., 2024 - 30.

https://www.grandviewresearch.com/industry-analysis/steel-pipes-tubes-market

Stainless Steel Pipes and Tube Market. ... From 2024 To 2031.

https://www.businessresearchinsights.com/market-reports/stainless-steel-pipes-and-tube-market-106732

Steel Pipes and Tubes Market Size, Share, Trends, Growth Outlook, and Opportunities to 2030.

https://www.usdanalytics.com/industry-reports/steel-pipes-and-tubes-market

Pipe Market Outlook from 2024 to 2034.

https://www.futuremarketinsights.com/reports/pipes-market

Stainless Steel Pipes and Tube Market Size, Share, Growth, and Industry Analysis. ... Forecast From 2024 To 2031. 

https://www.businessresearchinsights.com/market-reports/stainless-steel-pipes-and-tube-market-106732

Pipe And Tubing Tools Market Analysis North America, APAC, Europe, Middle East and Africa, South America - US, China, Germany, Japan, Russia - Size and Forecast 2024-2028.

https://www.technavio.com/report/pipe-and-tubing-tools-market-industry-analysis

Steel Pipes and Tubes Market Size, Share, Trends, Growth Outlook. 

https://www.usdanalytics.com/industry-reports/steel-pipes-and-tubes-market

Steel Pipes and Tubes Market Size, Share & Trends Analysis Report By Technology (Seamless, Electric Arc Welded (ERW), Submerged Arc Welded (SAW)), By Applications (Oil and Gas, Chemicals and Petrochemicals, Automotive and Transportation, Mechanical Engineering, Power Plant, Construction, Others) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031.

https://straitsresearch.com/report/steel-pipes-and-tubes-market

Stay tuned for the next installment of "Mirror of the Markets."

In November, we’ll dive into the Sheet Metals Industry, providing key insights into its latest trends and advancements.


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Mirror of the Markets: news from the wires & cables industry