PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1397409
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1397409
According to SPER Market Research, 'Stainless Steel Pipes And Tubes Market Size- By Product Type, By End-user, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Global Stainless Steel Market is predicted to reach USD 56.12 billion by 2033 with CAGR of 4.76%.
Commonly used to create stainless steel pipes, austenitic stainless steel is a non-magnetic variety of the metal. Austenitic stainless steel is the type most commonly used for pipes and tubes because of its strong corrosion resistance. Austenitic stainless steel is the type most commonly used for pipes and tubes because of its strong corrosion resistance.
The COVID-19 pandemic has had a major effect on the market for stainless steel pipes and tubes. The epidemic has made the difficulties the market was already experiencing in 2019-such as the US-China trade war-even worse. Due to decreased investment in end-use industries like oil and gas, construction, and automotive, a reduction in demand is anticipated in 2020 for the market. But as these sectors start to grow again in 2021, the market is anticipated to rebound.