April 27, 2022 10:00 AM ET | Source: Meticulous Market Research Pvt. Ltd. Thorough Market Research Pvt.Ltd
READING, CA, April 27, 2022 (GLOBE NEWSWIRE) — According to a new report titled “American Market Standard for Cold Drawn Seamless Steel Pipe (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213)”, Market Research Report, product type (MS seamless steel pipe), manufacturing process, application and end-use industry – projections up to 2029. The U.S. cold drawn seamless steel pipe market is forecast to grow during the forecast period from 2022-2029 to 2029. grew with an average annual growth rate of 7.7% and reached 994.3 million US dollars.
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Growing demand for seamless pipe from the oil and gas industry is a key driver of growth in the U.S. cold drawn seamless pipe market. However, volatile commodity prices and declining demand in a saturated market are expected to dampen growth in this market. In addition, rising offshore spending and new oil discoveries are expected to create significant growth opportunities for players in the US cold drawn seamless steel pipe market. Trade protectionism and the introduction of new substitutes create serious problems for the growth of this market.
During the COVID-19 outbreak, most industries have been affected by supply chain disruptions and labor shortages caused by the nationwide lockdown. Factory closures and trade restrictions have also exacerbated the problems, severely affecting many industries. The closure of manufacturing plants has affected production, resulting in a huge gap between supply and demand.
The US oil and gas industry has been hit hard, with oil consumption falling to its lowest level in decades due to travel restrictions and a slowing economy. The U.S. Energy Information Administration (EIA) forecasts crude oil production will fall to 11.7 million bpd in 2020 and further to 10.9 million bpd in 2021, from an average of 12.2 million bpd per day in 2019.
The U.S. infrastructure and construction industries have faced severe labor shortages, project suspensions and cancellations, and supply and logistics disruptions. According to a national survey conducted by United General Contractors of America in October 2020, out of 1,077 respondents, 840 (78%) contractors identified project delays or disruptions that have reduced demand for steel pipes in the construction industry.
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According to the US EIA Monthly Energy Review, total US energy consumption fell to 93 quadrillion British thermal units (sqm) in 2020, down 7% from 2019. The decrease in demand for electricity has affected the growth of the electricity industry. In addition, the nationwide lockdown has affected the U.S. auto industry due to its reliance on auto parts imports from China.
As such, the COVID-19 pandemic has negatively impacted the U.S. cold drawn seamless steel pipe market due to declining demand from end-use industries. However, supportive government policies have helped the US steel industry recover from significant economic and production losses. For example, in March 2022, the United States and Japan agreed to expand coordination covering trade remedies and customs issues, monitor bilateral trade in steel and aluminum, work together to address non-market overcapacity and carbon intensity in these industries, and review their arrangements annually. .
The US cold drawn seamless steel pipe market is segmented by standards (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A192, ASTM A209, ASTM A213, ASTM A210, ASTM A333, ASTM A335, ASTM A53, other standards), product. Type (MS seamless steel pipe, MS hydraulic seamless pipe, ERW square and rectangular pipe, honed pipe), production process (oblique roll piercing rolling, multi-stand ram mill, mandrel continuous rolling), application (precision tools, tube boiler, heat exchanger pipes, hydraulic systems, fluid transmission lines, threaded pipes, bearing pipes, mining, automotive and general engineering) and end-use industries (oil and gas, infrastructure and construction, power generation, automotive and other industries). – using industries).
By standard, the US cold drawn seamless steel pipe market is segmented 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 high growth of this segment is due to the growing demand for seamless ferritic alloy steel tubes for high temperature service, with higher strength, resistance, elasticity and hardenability properties. In addition, the ASTM A213 section is expected to witness the highest CAGR due to its increasing use in high temperature applications, especially in boilers and superheaters.
Based on product type, the US cold drawn seamless pipe market is divided into MS seamless pipe, MS hydraulic seamless pipe, square and rectangular hollow ERW pipe, and honed 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 high growth rate of this segment is due to its high strength and pressure resistance, as well as the growing use in the production of structural and mechanical parts, including drill pipes, car drive shafts, bicycle frames and steel scaffolding.
Based on the manufacturing process, the cold drawn seamless steel pipe market in the US is classified into piercing and pilger rolling mills, multi-stand ram mills and continuous mandrel 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. The high growth of this segment is due to the simplicity of the process, which includes multi-stand rolling mills and continuous mandrel rolling, as well as the need to identify the formation of cavities and areas in ductile fractures. In addition, growth in this segment is being driven by factors such as the growing demand for high performance surface finishes and their benefits, including macrostructural and microstructural uniformity in the cross section of forged parts.
Quick Buy – “US Cold Drawn Seamless Steel Pipe Market by Standards (ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213), Product Type (MS Seamless Steel Pipe), Manufacturing Process, Application and End Use Industry. 2029 Study Report: https://www.meticulousresearch.com/Checkout/43234435
The continuous mandrel segment is expected to grow at the highest CAGR over the forecast period. The high growth of this segment is due to the growing need to reduce the outer diameter and wall thickness during production, as well as the growing demand for hydraulically positioned rolls to achieve high productivity and maintenance 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 estimated to post the highest CAGR during the forecast period. The high 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. However, the power generation segment is expected to register the fastest CAGR during the forecast period. Growth in this segment is driven by growing demand for lower mechanical, tighter tolerances, cross-sectional properties and improved straightness in bearings, wind turbine components, nuclear, solar and coal-fired power plants.
The key players in the US cold drawn seamless steel pipe market are ArcelorMittal North America Holdings LLC (USA), US Steel Tubular Products Inc. (USA), Chicago Tube and Iron Company (USA), American Piping Products Inc. (USA), Bison Stainless Tube, LLC (USA), Penn Stainless Products, Inc. (USA), Bri-steel Manufacturing (Canada), Michigan Seamless Tube, LLC. (USA), US Metals, Inc. (USA) and Industrial Tube and Steel Corporation (USA).
For a deeper understanding of the market with a detailed table of contents and data, click here: https://www.meticulousresearch.com/product/US-cold-drawn-seamless-steel-pipes-market-5269
US Cold Drawn Seamless Steel Pipe Market by Standards
US Cold Drawn Seamless Steel Pipe Market by Product Type
US Cold Drawn Seamless Steel Pipe Market by Production Process
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Cold Drawn Seamless Steel Pipe Market by Standards (ASTM A179, ASTM A511, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53), product type, manufacturing process, application, end use industry, and geography – Global forecast up to 2029
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Post time: Jan-01-2023