Steel pipes have become critical aspect of civil infrastructure such as water supply, sewage, automotive and oil & gas. Steel pipes can be categorized according to material into alloy, carbon, and stainless variants.
The Americas steel pipes market is likely to reflect steady. However, the industry is likely to face challenges in terms of substitute pipe materials such as plastic and iron, as well as high production and installation costs for steel fixtures. The steel pipes market in the Americas is expected to grow steadily but moderately, with growth in niche end use sectors such as mining and automotive production.
Despite the challenges brought on by the coronavirus pandemic through the year 2020, there has been an increase in demand for steel pipes in the Americas. The oil and gas, energy, and construction sectors are seeing increased public and private investment. According to a recent report by Future Market Insights, the sector will continue to grow between 2020 and 2030.
According to analysts from FMI, the oil and gas industry applications are expected to be the main source of income, particularly with the discovery of unconventional sources and processes like shale and fracking.
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The study by FMI encompasses an overview of the sector, including prominent dynamics of the market. Some of the critical takeaways of the report include:
“The Americas have become a leading region in the production of oil and gas with unconventional resources such as shale gaining the spotlight. With a number of upcoming projects in the United States and Canada demand for steel pipes in the region is expected to surge in the near future,” said a lead analyst at FMI.
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Covid-19 Impact on Americas Steel Pipes Market
The coronavirus pandemic has been projected to be moderately impact the Americas steel pipes market. Lockdown restrictions on the manufacturing sector and the mining industry are anticipated to affect raw material supplies and logistics in the supply chain for the short term. Also, the negative effects of the outbreak on the global economy will hurt imports and exports disrupting supply chains.
End use applications, particularly in the automotive and construction sectors, owing to compulsory social distancing regulations are estimated limit market growth. Also, the drop in demand is likely to result in shut down or limited operations at conventional production facilities, in addition to widespread layoffs.
The problems are likely to be compounded by reduced demand for crude oil, restricting expansion plans in the sector. Recovery is likely to be slow owing to continuing uncertainty over the duration of the pandemic.
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Who is Winning?
In its report, Future Market Insights has given detailed analysis on the many strategies being used by manufacturers in the Americas steel pipes market. Key players are emphasizing on investments towards capacity expansions and strategic acquisitions and divestments in line with changing demand in the region.
Some of the leading players in the industry include Arcelor Mittal, Tenaris, Gerdau S/A, American Cast Iron Pipe Company, Baosteel Group Corporation, Evraz plc, Nippon & Sumitomo Steel, and JFE Holdings Corporation among others.
Key Segments
Material type:
End Use:
Design:
Country:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Americas Steel Pipes Market , Americas Steel Pipes Market Outlook , Americas Steel Pipes Market Share
Mar 12, 2023
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