In 2022, the global stainless steel welded pipe market was estimated to have acquired USD 2.8 billion. The superior physical and chemical properties of stainless steel such as high ductility, resistance against high temperature ranges, and corrosion resistance have enabled favorable growth in the sales.
This has resulted to an expected sum of USD 8.9 billion by 2033, garnering a CAGR of 4.7% during the forecast period, 2023 to 2033.
The stainless steel welded pipe market has been witnessing impressive growth since the past few years. This growth trend is projected to continue due to the increase in demand from the construction and automotive sectors.
Stainless steel welded pipes are also used in other applications such as petrochemical & fertilizers, oil & gas, and water supply & distribution. The superior physical and chemical properties of stainless steel such as high ductility, resistance against high temperature ranges, and corrosion resistance have enabled favorable growth in the sales.
In its new study, ESOMAR-certified market research and consulting firm, Future Market Insights (FMI) offers insights about key factors fueling the demand for stainless steel welded pipes.
The report tracks the global sales of stainless steel welded pipes in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the building and construction industry in general, and stainless steel welded pipes in particular.
| Report Attribute | Details |
|---|---|
| Estimated Market Value (2022) | USD 2.8 billion |
| Expected Market Value (2023) | USD 2.93 billion |
| Projected Forecast Value (2033) | USD 8.9 billion |
| Anticipated Growth Rate (2023 to 2033) | 4.7% CAGR |
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The construction sector and automotive sector are considered to the key end users of stainless steel welded pipes. Demand for stainless steel welded pipes is growing in the drinking water distribution industry due to their strength, corrosion resistance, ductility, and mechanical properties.
Be it less corrosive groundwater or highly corrosive seawater, stainless steel welded pipes of various grades offer strong resistance to the same.
Stainless steel welded pipes also offer smooth surfaces, which reduce particle adherence and enable easy removal of the applied coatings when they deteriorate. This factor drives the use of stainless steel welded pipes in water supply and distribution and also in other fluid-related applications.
The Commercial Potential of The Products is boosting Sales
Stainless steel welded pipes are mostly used for different applications including construction, automotive, water supply and distribution, oil and gas, petrochemical and fertilizers, power generation and others.
Competitive price offerings, increase in end user satisfaction with respect to the properties of the material and also the enhanced strength within stainless steel welded pipes are the end results of research & development activities.
Increasing research and development activities through collaboration or partnerships on projects are helping manufacturers in the market. Moreover, establishing sales and service facilities in emerging countries, coupled with long-term partnerships with regional distributors, also paves the way for the expansion of channel reach.
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The Application of these Products in Construction is likely to be the highest
The market share of construction application is higher as compared to other applications. The construction application accounts for over 27.5% of the total market share. This is followed by the automotive application, which has a share of over 25%.
300 Series Grade is anticipated to Gain Dominant Share
300 series grade is the most preferred type of stainless steel welded pipes, holding a 75.2% share in the global market. The most preferred sub-segments in the 300 series which have the highest growth and are more used are 304, 304L & 304H, which comprise more than 60.1% of the global market, and 316, 316L, 316H & 316TI, which hold over 21.2% of the global market.
36 to 60 mm and 61 to 150 mm Outer Diameter Segments will Gain Traction
36 to 60 mm and 61 to 150 mm outer diameter segments are the most preferred in the stainless steel welded pipe market due to their increasing use in water supply and distribution and also in petrochemical and fertilizer applications, which require different types of outer diameters as per the work requirement.
Demand from the Automotive Sector is likely to Boost Demand
The United States stainless steel welded pipe market is expected to rise at a 4.5% CAGR between 2023 and 2033. Growth forecast for the United States market remains positive on account of the increasing demand from the automotive industry and construction industry.
The United States automotive industry not only produces vehicles for domestic sales, but also exports vehicles, and to fulfill the demand auto industry players have to manufacture efficiently. Stainless steel welded pipes are used for making mufflers and exhausts in the automotive industry, which propels the growth of the stainless steel welded pipe market in the United States.
Aerospace Sector is Anticipated to Bring in huge Revenues
After a brief period of declining growth in 2022, the Germany market is expected to register 4.4% y-o-y growth in 2023. The Germany stainless steel welded pipe market will witness appreciable growth on account of the increasing demand from the automotive and aerospace industries.
Germany comes under the tag of top 10 steel producing countries with the market volume of 41.2 Million Tons in 2021. Stainless steel which is made in Germany is also very popular in sales due to lower carbon content, and are softer which make them more durable then American grade of Stainless Steel.
36-60 mm and 61-150 mm Segments will be Aiding the Growth
India has emerged as a key market, accounting for a little over 32% of stainless steel welded pipes sold in South Asia Pacific in 2022. In India, 36 to 60 mm and 61 to 150 mm segments are used, the former being preferable in water supply and distribution applications and the latter in the oil and gas segment. The demand from power generation applications is also expected to propel the market growth in India.
In January 2021, the Ministry of Steel, Government of India, signed a Memorandum of Cooperation (MoC) with the Ministry of Economy, Trade and Industry, Government of Japan, to boost the steel sector through joint activities under the framework of India - Japan Steel Dialogue. Such government initiatives are expected to bode well for the market.
Japan is Anticipated to Garner a Significant CAGR from 2023 to 2033
The demand in Japan is expected to accelerate at a 5.22% CAGR between 2023 and 2033. Most stainless steel welded pipe manufacturers are from East Asia, and comprise some of the key players from Japan. Japan alone accounts for USD 3,288,000 worth of exports of stainless steel welded pipes.
Japan Stainless Steel Association and AICHI Steel Corporation are coming together and making more composite for the stainless steel for other applications as well such as; reinforced concrete construction for which they provide chromium stainless steel welded pipe for concrete reinforcement.
Growing Demand for Oil will Drive Stainless Steel Welded Pipe Market in GCC Countries
The high volumes of oil and natural gas reservoirs in GCC countries, especially Saudi Arabia, the UAE, Qatar, and Kuwait, have led to the expansion of oil and gas infrastructure in the region. This has led to growing demand for stainless steel welded pipes.
As Nickel Alloy Grade Duplex 2207 and Duplex 2205 is mostly used in the oil and gas industry for the easily transportation of the fluid. Nickel Alloy Grade is mostly used due to the property of corrosion resistance from any kind of fluid.
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The stainless steel welded pipe market is highly competitive, with the presence of a large number of players in the market. Some of the players are focusing on carving out a niche for specific consumers.
The market has robust partnerships throughout the value chain, with high focus on innovations. Manufacturers are aiming at strategic collaborations with end users and regional distributors to address the requirements of an expanding customer base.
Brand consciousness and aggressive marketing make it challenging for new entrants in this market. Through these developments, companies are aiming at gaining a competitive advantage.
The key players in this market include:
Some of the products being launched by the key players are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2022 to 2032 |
| Market value in 2023 | USD 2.93 billion |
| Market value in 2033 | USD 8.9 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion for value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Grade, Application, Outer Diameter, Region |
| Regions Covered |
North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Spain, Italy, Japan, China, Singapore, Thailand, Indonesia, Israel, GCC countries, South Africa, Australia, New Zealand |
| Key Companies Profiled | Marcegaglia; Sosta GmbH & Co. KG; ArcelorMittal S.A.; Nippon Steel; Hyundai Steel Co., Ltd; Sandvik AB; Shanghai Metal Corporation; FROCH ENTERPRISE CO., LTD.; F.E.R. Fischer Edelstahlrohre GmbH; YC Inox; JFE Steel Corporation; CSM TUBE spa; Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd.; Guangdong Lizz Steel Pipe Co, Ltd.; Foshan Zhongde Stainless Steel Co., Ltd. |
| Customization & Pricing | Available on Request |
The United States, Germany, and China dominate the global stainless steel welded pipe market.
The market is forecast to register a CAGR of 4.7% through 2033.
During 2018 to 2022, the market grew at a CAGR of 1.3%.
The increasing demand for stainless steel welded pipes in the oil and gas industry is disrupting the current market trends.
The global market size to reach USD 8.9 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Grade 5.1. 300 Series 5.2. 400 Series 5.3. 900 Series 5.4. Nickel Alloy Grade 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Construction 6.2. Automotive 6.3. Water Supply and Distribution 6.4. Oil and Gas 6.5. Petrochemical and Fertilizers 6.6. Power Generation 6.7. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Outer Diameter 7.1. 4 to 36mm 7.2. 36 to 60 mm 7.3. 61 to 150 mm 7.4. 151 to 500 mm 7.5. 500 to 1000 mm 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Marcegaglia 16.2. Sosta GmbH & Co. KG 16.3. ArcelorMittal S.A. 16.4. Nippon Steel 16.5. Hyundai Steel Co., Ltd 16.6. Sandvik AB 16.7. Shanghai Metal Corporation 16.8. FROCH ENTERPRISE CO., LTD. 16.9. F.E.R. Fischer Edelstahlrohre GmbH 16.10. YC Inox 16.11. JFE Steel Corporation 16.12. CSM TUBE spa 16.13. Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd. 16.14. Guangdong Lizz Steel Pipe Co, Ltd. 16.15. Foshan Zhongde Stainless Steel Co., Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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Stainless Steel Welded Pipe Market
