Report Overview

A rising demand for steel pipes and tubes from the expanding oil and gas sector, an increasing number of infrastructure development projects, and stringent environmental regulations are expected to drive United States Steel Pipes and Tubes Market during the forecast period between 2024 and 2030.

United States Steel Pipes and Tubes Market – Industry Trends & Forecast Report, 2030

United States Steel Pipes and Tubes Market size was estimated at USD 25,954.65 million in 2023. During the forecast period between 2024 and 2030, United States Steel Pipes and Tubes Market size is projected to grow at a CAGR of 2.17% reaching a value of USD 29,988.37 million by 2030. Prominent drivers of the market include the expansion of petrochemical plants, increased demand in the oil and gas industry, and wider applications across sectors like construction, mining, and water treatment. Steel pipes are essential for transporting oil, gas, propane, and other gases, where accurate measurements and pressure ratings are crucial. Their anti-corrosion properties also make steel tubes suitable for structural uses such as scaffolding, with high demand in applications requiring precise outside diameters. Notably, the growing need for steel pipes in new oil and natural gas projects is driving market growth, as are their applications in industries such as wind turbines, medical devices, and plastics production. In the automotive sector, steel tubes are used in various components, including diesel spark plugs and engine block heating. Also, increasing government investments in infrastructure development, along with rapid urbanization and industrialization, are expected to further boost market expansion during the forecast period.

Steel Pipes and Tubes – Overview

Steel pipes and tubes are hollow, cylindrical structures made of steel, primarily used for transporting fluids or providing structural support. They are distinguished by their cross-sectional shape: pipes typically have a circular shape, while tubes can be square, rectangular, or elliptical. Steel's strength, durability, and corrosion resistance make it a versatile material for applications in various industries, including oil and gas, water supply, construction, manufacturing, and automotive. Seamless and welded pipes are common types, with additional treatments like galvanizing and stainless steel providing enhanced protection. The choice of steel pipe or tube depends on factors such as the application, required properties, and cost.

United States Steel Pipes and Tubes Market

Growth Drivers

Rising Demand from Oil & Gas Sector

A spurring demand for steel pipes and tubes from the US oil & gas sector has significantly bolstered the growth of the market, particularly stainless steel, due to its vital role in ensuring the safe and efficient transport of oil, gas, and other critical liquids. Steel pipes are widely favored in the sector for their durability, corrosion resistance, and strength under high pressure, making them essential in onshore and offshore applications. The growing reliance on steel pipes for the transport of hazardous materials like crude oil and natural gas highlights their importance in the industry. Different types of steel, including stainless steel, duplex steel, and steel alloys, each offer unique benefits, such as corrosion resistance, durability in extreme environments, and the ability to withstand high temperatures and pressure. These qualities make them indispensable for flow lines, storage tanks, pressure wells, and offshore drilling operations. As technological advancements continue to improve the performance and reliability of steel, the oil and gas sector's demand for steel pipes and tubes is expected to increase. Furthermore, innovations like laser welding and new material blends are enhancing the quality and efficiency of steel products, ensuring their continued relevance in the industry's evolving landscape.

Challenges

Fluctuations in Steel Prices

As steel is the primary raw material, any volatility in its cost directly impacts production expenses, leading to higher prices for steel pipes and tubes. These price fluctuations, driven by global supply-demand imbalances, tariffs, and trade wars, create uncertainty for manufacturers and end-users alike. The unpredictability of steel costs also affects long-term contracts and projects, especially in industries like oil and gas, construction, and infrastructure, ultimately limiting the market's growth potential during the forecast period.

Impact of Escalating Geopolitical Tensions on United States Steel Pipes and Tubes Market

Escalating geopolitical tensions among countries and spreading across regions could have a significant impact on the growth of United States Steel Pipes and Tubes Market. Trade restrictions, sanctions, and disrupted supply chains resulting from geopolitical conflicts often lead to higher raw material costs, including steel, which is crucial for pipe production. Additionally, uncertainties in international relations can affect oil and gas projects, a key end user sector of steel pipes and tubes. The imposition of tariffs and changing trade policies further compound the challenges, leading to increased production costs and reduced market competitiveness, ultimately restraining growth of United States Steel Pipes and Tubes Market.

United States Steel Pipes and Tubes Market

Segmental Coverage

United States Steel Pipes and Tubes Market – By Technology

By technology, United States Steel Pipes and Tubes Market is divided into Seamless, Electric Resistance Welded, and Submerged Arc Welded segments. The seamless segment holds the largest share of United States Steel Pipes and Tubes Market by technology. Seamless steel products are manufactured from perforated and heated billets, forming tubes without seam welds. These seamless pipes and tubes are widely used across major industries, such as oil & gas, power generation, chemicals & petrochemicals, and engineering. The oil and gas sector dominates the seamless technology market due to its demand for tubular products capable of withstanding high pressure, corrosive environments, and mechanical stress. Seamless pipes are essential in upstream, midstream, and downstream oil and gas operations, making them integral to the industry's infrastructure and processes.

United States Steel Pipes and Tubes Market – By Application

Based on application, United States Steel Pipes and Tubes Market is divided into Oil & Gas, Chemicals & Petrochemicals, Automotive & Transportation, Mechanical Engineering, Power Plant, Construction, and other segments. The oil & gas segment holds the highest share in United States Steel Pipes and Tubes Market by application. The segment’s dominance is attributed to the extensive use of steel pipes in the oil and gas industry, particularly for OCTG (Oil Country Tubular Goods), transportation, and process piping for refining crude oil into petroleum products. The segment is expected to maintain its leading position throughout the forecast period due to the continued demand for these applications.

Competitive Landscape

Major players operating in United States Steel Pipes and Tubes Market include Jindal SAW Ltd, Allied Tube & Conduit Corp, Curtis Maruyasu America, Inc., Benteler Steel Tube Manufacturing Corp, DeBra-Kuempel Co, Nucor Corporation, JFE Steel America, Inc., American Piping Products Inc, and Midwest Steel Products, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In April 2024 - Zekelman Industries announced a significant investment of up to USD 120 million to enhance the manufacturing capabilities of its subsidiary, Atlas Tube in Mississippi County, Arkansas. The expansion will allow for the production of new inline steel tube galvanizing products. In collaboration with Arkansas Northeastern College, Zekelman will also support workforce training initiatives, contributing USD 250,000 over five years to assist students in the steel and aviation maintenance sectors.

Scope of the Report

By Technology

• Seamless

• Electric Resistance Welded

• Submerged Arc Welded

By Application

• Oil & Gas

• Chemicals & Petrochemicals

• Automotive & Transportation

• Mechanical Engineering

• Power Plant

• Construction