DUBLIN, June 20, 2022 /PRNewswire/ — US Market Standards for Cold Drawn Seamless Tubing (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213), Product Type (MS Seamless Tubing), Manufacturing Processes, Applications and The End Use Industries Forecast 2029 report has been added to the ResearchAndMarkets.com offering.
The U.S. cold drawn seamless steel pipe market is projected to reach $994.3 million by 2029, with a CAGR of 7.7% during the forecast period 2022-2029. The growth of this market is associated with an increase in demand for seamless pipes in the oil and gas industry and the gas sector. Fluctuations in raw material prices and lower demand in a saturated market are expected to dampen growth in the U.S. cold drawn seamless steel pipe market.
Rising offshore spending and new oil discoveries are expected to create significant growth opportunities for players in this market. However, trade protectionism and the introduction of new alternatives create problems for market growth. According to standards, the US cold drawn seamless steel pipe market is divided into ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53 and other standards. .
By 2022, the ASTM A335 segment is expected to hold the largest share of the U.S. cold drawn seamless steel pipe market. The large market share in this segment is due to the growing demand for seamless ferritic alloy steel tubes for high temperature service, their properties include higher strength, resistance, elasticity and hardenability. However, the ASTM A213 segment is expected to register the highest CAGR during the forecast period. Based on product type, the US cold drawn seamless pipe market is classified into MS seamless pipe, MS hydraulic seamless pipe, square and rectangular hollow ERW pipe, and grounding pipe.
By 2022, the MS seamless steel pipe segment is forecast to account for the largest share of the US cold drawn seamless steel pipe market. This segment is also forecast to register the highest CAGR during the forecast period. The segment’s high growth is attributed to its growing use in the construction industry due to its high strength and pressure-carrying capacity, which are increasingly being used in the production of structural components and mechanical parts, including oil drill pipes, automotive transmission axles, bicycle frames and steel scaffolding. . Based on the manufacturing process, the U.S. cold drawn seamless steel pipe market is classified into piercing and pilger rolling mills, multi-stand ram mills and mandrel continuous rolling.
By 2022, the cross-piercing and pilger rolling segment is expected to hold the largest share of the US cold-drawn seamless steel pipe market. However, the continuous mandrel segment is expected to grow at the highest CAGR over the forecast period. Growth in this segment is driven by the growing need to reduce outside diameter and wall thickness during production, as well as a surge in demand for hydraulically positioned rolls to achieve high productivity to meet the needs of mass production lines. Based on application, the US cold drawn seamless steel pipe market is classified into precision tools, boiler tubes, heat exchanger tubes, hydraulic systems, fluid transfer lines, threaded tubes, bearing tubes, mining, automotive, and general engineering.
By 2022, the boiler tube segment is forecast to account for the largest share of the US cold drawn seamless steel pipe market. This segment is also forecast to register the highest CAGR during the forecast period. The rapid growth of this segment is due to the growing demand for boiler tubes for steam boilers, fossil fuel plants, industrial process plants and power plants. Moreover, the growing demand for boiler tubes from end-use industries is driving the growth of this segment. Depending on the end use industry, the US cold drawn seamless steel pipe market is categorized into oil and gas, infrastructure and construction, energy, automotive and other end use industries.
By 2022, the oil and gas segment is forecast to account for the largest share of the US cold drawn seamless steel pipe market. The large market share of this segment is driven by growing government initiatives and investment, as well as growing demand for upstream operations, including onshore and offshore drilling, general pipelines and oil and gas processing operations in the oil and gas industry. However, the power generation segment is expected to register the fastest CAGR during the forecast period.
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Post time: Jan-16-2023