PUBLISHER: The Business Research Company | PRODUCT CODE: 1664438
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664438
Iron pipes and tubes are circular tubular devices used for the distribution of fluids and gases. Steel pipes and tubes, on the other hand, are long, hollow tubes utilized for various purposes, including controlled fuel injection and car suspension systems. They offer flexibility under extreme conditions, helping prevent spills or leaks.
The main types of iron and steel pipes and tubes are seamless and welded. Seamless pipes and tubes are those without welding seams. These pipes and tubes are made from various materials, including steel and alloys, copper and alloys, aluminum and magnesium alloys, nickel and alloys, among others. They find applications in various industries, serving end-users such as oil and gas, power generation, automotive, aviation, construction, the process industry, and others.
The iron and steel pipes and tubes market research report is one of a series of new reports from The Business Research Company that provides iron and steel pipes and tubes market statistics, including iron and steel pipes and tubes industry global market size, regional shares, competitors with an iron and steel pipes and tubes market share, detailed iron and steel pipes and tubes market segments, market trends and opportunities, and any further data you may need to thrive in the iron and steel pipes and tubes industry. This iron and steel pipes and tubes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The iron and steel pipe and tube market size has grown steadily in recent years. It will grow from $208.73 billion in 2024 to $216.95 billion in 2025 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to infrastructure development projects, industrialization and economic growth, oil and gas exploration, government investments, urbanization and construction boom.
The iron and steel pipe and tube market size is expected to see steady growth in the next few years. It will grow to $243.57 billion in 2029 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to renewable energy projects, upgrades in water and wastewater systems, green building initiatives, global trade dynamics, infrastructure resilience projects. Major trends in the forecast period include technological advancements, rising demand in construction, focus on sustainable practices, advancements in coating technologies, technological innovations in material composition.
The anticipated increase in oil and gas production is set to drive the growth of the iron and steel pipes and tubes market. The oil and gas sectors encompass various activities related to hydrocarbon exploration, development, drilling, production, refining, and transportation. Iron and steel pipes and tubes play a crucial role in the oil and gas industry, ensuring the safe transport of liquids such as oil and gas due to their strength and ability to withstand extreme temperatures. As of March 2023, the Energy Information Administration (EIA) reported a rise in oil and gas production from 99.4 million barrels per day (b/d) in 2022 to 100.9 million b/d in 2023, highlighting the driving force behind the iron and steel pipes and tubes market.
The rising demand in the construction industry is expected to drive the growth of the iron and steel pipes and tubes market in the future. The construction industry involves a wide range of activities related to the planning, design, development, and construction of structures, facilities, and infrastructure. Iron and steel pipes and tubes are utilized in construction for their strength, versatility, durability, cost-effectiveness, recyclability, and their contribution to the safety, efficiency, and longevity of various structures. For example, a report published by Oxford Economics, a UK-based economic information services company, in March 2023, projected that the industry would grow from $9.7 trillion in 2022 to approximately $13.9 trillion by 2037, representing a compound annual growth rate (CAGR) of about 3.6%. Therefore, the increasing demand in construction is driving the growth of the iron and steel pipes and tubes market.
Technological advancement is a significant trend gaining traction in the iron and steel pipes and tubes market. Leading companies in this sector are concentrating on developing innovative products to solidify their market presence. For example, in October 2024, Telaris, an Italy-based global manufacturer and supplier of steel pipes, introduced Reliable hydrogen storage systems designed to enhance safety and efficiency in hydrogen applications. These state-of-the-art systems use advanced steel alloys to ensure high strength and durability while also tackling issues like hydrogen embrittlement and corrosion resistance. This launch aligns with the increasing demand for sustainable energy solutions, supporting the hydrogen economy by offering robust storage options capable of withstanding the demanding conditions of high-pressure environments.
Companies operating in the PET bottles market are prioritizing environmentally friendly initiatives, such as utilizing recycled materials, adopting sustainable production practices, and developing biodegradable alternatives to improve product sustainability and meet consumer demand for eco-friendly packaging solutions. For instance, in July 2022, Coca-Cola India, a subsidiary of The Coca-Cola Company, rolled out 100% recycled PET (rPET) bottles across the U.S. and Canada, representing a significant step toward reducing plastic waste and minimizing greenhouse gas emissions through the use of recycled materials.
In July 2022, Tenaris S.A., a Luxembourg-based producer of steel pipes, acquired Benteler Steel & Tube Manufacturing Corporation for an undisclosed sum. This acquisition has allowed Tenaris to broaden its product offerings and enhance its local manufacturing footprint in the United States. Benteler Steel & Tube Manufacturing Corporation is a U.S.-based manufacturer of seamless steel pipes.
Major companies operating in the iron and steel pipe and tube market include Nippon Steel Corporation, US Steel Tubular Products Inc., Sandvik AB, Zaffertec SL, ArcelorMittal SA, United Metallurgical Company JSC, Samuel Associated Tube Group, Tubos Reunidos SA, Sumitomo Corporation, ChelPipe Group, Wheatland Tube Company, Aaditya Stainless Pvt. Ltd., Anand Seamless Tubes Pvt. Ltd., Bhuwalka Pipes, American Cast Iron Pipe Company, Ansteel Group Corporation Limited, Baoshan Iron and Steel Co. Ltd., Baotou Iron and Steel Group Co. Ltd., Borusan Mannesmann Boru Sanayi ve Ticaret AS, China Baowu Steel Group Corp. Ltd., Choo Bee Metal Industries Berhad, Hebei Iron and Steel Group Co. Ltd., Hunan Standard Steel Co. Ltd., JFE Holdings Inc., Jiangsu Changbao Steel Tube Co. Ltd., Jindal Steel & Power Ltd., Maharashtra Seamless Limited, Mannesmann Stainless Tubes GmbH, Maruichi Steel Tube Ltd., Northwest Pipe Company, Nucor Corporation, Pohang Iron and Steel Company, Ratnamani Metals & Tubes Ltd., Shandong Iron and Steel Group Co. Ltd., Tata Steel Limited, Tenaris S.A., Tianjin Pipe (Group) Corporation, TMK Group, United States Steel Corporation, Vallourec S.A., Welspun Corp Limited
Asia-Pacific was the largest region in the iron and steel pipes and tubes market in 2024. The regions covered in the iron and steel pipe and tube market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the iron and steel pipe and tube market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The iron and steel pipe and tube market consists of sales of carbon steel, stainless steel, and alloys. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Iron And Steel Pipe And Tube Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on iron and steel pipe and tube market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for iron and steel pipe and tube ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The iron and steel pipe and tube market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.