The clad pipe market is anticipated to increase from US$ 2,457.4 million in 2022 to US$ 3,779.9 million in 2032.
The global clad pipe market is estimated to register a CAGR of 5.6% during 2018-2028. Middle East and Africa, Western Europe and South East Asia & Pacific clad pipe markets are estimated to account for significant value shares by the end of the forecast period.
Clad pipes are known to be special corrosion-resistant pipes that are made by bonding carbon steel pipes with corrosion resistant alloys (CRAs) to withstand highly corrosive environments. They are generally utilized in the offshore oil and gas industry in high temperature and high pressure situations as they display high corrosion resistivity. Clad pipes are mostly made by bonding a parent metal pipe, which is generally carbon steel, and a CRA metal pipe made of copper and nickel alloys.
In the clad pipe report, average volume per year has been expressed in volume (Tons). Among the clad pipe segments by type, the metallurgical bonded clad pipe segment is expected to register robust growth over the forecast period.
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Global sales of clad pipes is estimated to be valued at US$ 2,000.3 Mn by the end of 2018 and is expected to register a CAGR of 5.6% over the forecast period. Middle East and Africa, Western Europe and South East Asia & Pacific regions are expected to account for the lion’s share of the global clad pipe market by the end of 2028 and are expected to retain their positions as market leaders during the forecast period.
Global Clad Pipe Market Dynamics
Corrosion is one of the major problems affecting the efficiency of oil & gas and other petrochemical pipeline operations. According to a report by the World Corrosion Organization, corrosion costs account for an estimated US$ 2.5 Trillion worldwide, which is almost 4% of the GDP of industrialized countries. Out of which, 45% is spent in oil & gas and petrochemical sectors, which accounts to almost US$ 1 Trillion. With towering corrosion costs and interruptions caused due to leaks, maintenance and turnarounds, the clad pipe market is expected to witness great demand over the forecast period.
Recent oil & gas price trends have encouraged major oil & gas companies to increase investments in the exploration of new areas. This has led to the development of a number of oil & gas projects, especially in the offshore segment, which creates high demand for clad pipes. Western Europe and the Middle East and Africa are witnessing increased spending in the offshore oil & gas industry, owing to the new projects in the North Sea, Persian Gulf, Gulf of Guinea and Mediterranean Sea, which are expected to create high demand for the clad pipe market. Of the remaining oil & gas reserves, around 50% exist in highly corrosive environments. This is expected to drive the demand for clad pipes, given the rise in oil & gas exploration activities around the world.
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Key Segments Covered
On the basis of pipe type, the global clad pipe market has been segmented into
On the basis of grade, the global clad pipe market has been segmented into
On the basis of outer diameter, the global clad pipe market has been segmented into
On the basis of wall thickness, the global clad pipe market has been segmented into
Global Clad Pipe Market Competitive Landscape
Some of the key market participants included in this study of the global clad pipe market are The Japan Steel Works, Ltd, NobelClad, Proclad, Inox Tech, Tenaris SA, Eisenbau Krämer GmbH, EEW Group, IODS Pipe Clad Ltd, BUTTING Group, Cladtek Holdings Pte Ltd, Gieminox Tectubi Raccordi S.R.L., Canadoil Group Ltd, Jiuli Group, Precision Castparts Corp and Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd.
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Feb 03, 2023
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