Global Continuous Welded Pipes and Tubes Market to Reach 23.5 Million Tons by 2026

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10 Mar, 2022, 07:55 ET

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SAN FRANCISCO, March 10, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Continuous Welded Pipes and Tubes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE

What's New for 2022?

Edition: 17; Released: February 2022Executive Poll: 766Companies: 20 - Players covered include Continental Steel & Tube Company; Garth Industrial; JFE Steel Corporation; MRC Global Inc; Nippon Steel & Sumitomo Metal Corporation; Saginaw Pipe Co., Inc; TIASCO Ltd; Wheatland Tube Company; Zhejiang Jiuli Hi-Tech Metals Co., Ltd and Others.Coverage: All major geographies and key segmentsSegments: Segment (Continuous Welded Pipes and Tubes)Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; India; South Korea; Rest of Asia-Pacific; Latin America; Rest of World.

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ABSTRACT-

Global Continuous Welded Pipes and Tubes Market to Reach 23.5 Million Tons by 2026Continuous welded pipe is a pipe with a single longitudinal seam that is formed through continuous welding process. These pipes are also referred to as Electric Fusion Welding (EFW) pipes. Continuous welding is a type of butt welding technology, in which a seam is created by subjecting the skelp to heat treatment in a furnace, and subsequently pressing the skelp mechanically so as to press the formed edges. As a result, successive coils of skelp are combined or joined, ensuring continuous flow of steel for use in the welding mill. Continuous butt welded pipes are typically small-diameter pipes, which are primarily utilized for supply of water and gas at lower costs and higher productivity. While ERW line pipes are also used in fluid and gas transmission, the Continuous welding process scores over ERW pipe production method in terms of economies associated with high volume production as the process can produce pipes at a speed of 1200 feet per minute as compared to ERW method which has a production speed of 110 ft per minute. Mills involved in producing continuous butt welded pipes are generally specialists in manufacturing on a mass scale, primarily to address the needs of gas and water supply. In these applications, low cost and high productivity hold huge significance. Since continuous weld pipes are characterized by a higher degree of malleability over ERW pipes, they are a preferred choice in applications where the pipe is required to be grooved, bent, or threaded.

Growth in the global market would be mainly driven by improvement in residential construction and infrastructure spending on projects such as airport, metros, and greenhouse structures among others. The industry also stands to benefit from the requirement to replace antiquated pipelines, especially in developed economies of the US and Europe. As CW pipes are also used in fire sprinkler systems, stringent regulatory standards, and greater industrial safety requirements along with rise in infrastructure spending are expected to drive future demand. As CW pipes face strong competition from ERW pipes, there is a constant focus on improving product quality to ensure less wattage and lower frequency of replacement. Improved infrastructure spending driven by rapid urbanization, growing focus on urban water security and the ensuing expansion of water supply networks; healthy pace of industrialization and the resulting investments in pipelines for industrial water and wastewater management are also expected to boost growth prospects. Amid the COVID-19 crisis, the global market for Continuous Welded Pipes and Tubes estimated at 19.6 Million Tons in the year 2022, is projected to reach a revised size of 23.5 Million Tons by 2026, growing at a CAGR of 4.2% over the analysis period.

The U.S. Market is Estimated at 1.6 Million Tons in 2022, While China is Forecast to Reach 10.6 Million Tons by 2026The Continuous Welded Pipes and Tubes market in the U.S. is estimated at 1.6 Million Tons in the year 2022. The country currently accounts for a 8.52% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 10.6 Million Tons in the year 2026 trailing a CAGR of 5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach 11.1 Million Tons by the close of the analysis period. Asia-Pacific represents a major market, driven by rapid industrialization along with investment in infrastructure development projects. In developed countries of North America and Europe, majority of the operational systems have reached the fag end of their useful lifespan, necessitating extensive overhaul of the existing systems, which in turn involve enormous investments and driving demand for replacement. More

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Global Industry Analysts, Inc.