According to MarketsandMarkets™ Seamless Pipes Market by Type (Hot Finished, Cold Finished), Production Process (Continuous Mandrel Rolling, Multi-stand Plug Mill (MPM), Cross-roll Piercing & Pilger Rolling), Material, End-use Industry, and Region – Global Forecast to 2022, the worldwide seamless pipes market is expected to reach $237.11 billion by 2022.
Key findings from the report include:
- The demand for seamless pipes is being driven by the increasing demand for seamless pipes from the oil & gas sector. Based on end-use industry, the oil & gas segment is also estimated to be the largest segment of the market in 2017.
- The hot finished seamless pipes segment is estimated to be a larger segment of the market in 2017, due to the extensive use of hot finished seamless pipes across end-use industries, such as oil & gas, infrastructure & construction, and power generation, among others.
- The cross-roll piercing & pilger rolling segment is anticipated to be the largest segment of the seamless pipes market in 2017, due to the simplicity of the process as compared to the other seamless pipes manufacturing processes, such as multi-stand plug mill and continuous mandrel rolling.
- The nickel & alloys segment of the seamless pipes market is expected to witness the highest growth during the forecast period. This high growth can be attributed to the increasing use of nickel & alloys to manufacture seamless pipes, especially in the power generation, aerospace & defense, and chemicals industries.
- Asia Pacific is expected to lead the global seamless pipes market. The growth of the Asia Pacific seamless pipes market is being driven by growth in the infrastructure & construction sector.