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Oil and gas boom opens up too many opportunities

       DUBLIN, Sep 23, 2022 (GLOBE NEWSWIRE) — The global seamless steel pipe market is valued at $61.6 billion in 2022 and is expected to grow by 7% by 2032, according to a new analysis by market research and competitor information provider Fact .MR developed at a high compound annual growth rate.
        Seamless steel pipe systems offer many advantages over traditional welded piping, including high pressure resistance, making them ideal for a wide range of applications in pressure vessels, boilers, automotive, construction, etc. Seamless steel pipes are also used in architecture, for example in the construction of stadiums and large outdoor structures. These pipes provide stability to the roof structure and improve the design of the building.
        The use of seamless steel pipe systems in fluid transfer operations by oil and gas and chemical companies has increased significantly. Demand for OCTG increased due to expansion of exploration and production, development of proven shale reserves and increased investment from oil and gas operators. Compared with the production of welded OCTG, the production of seamless OCTG requires a large initial investment, and the right choice of OCTG can reduce risks and costs.
       Periodic repair after oil and gas exploration in Europe is a key driver of demand growth for seamless steel pipes.
       Due to the large number of refineries, nuclear power plants and the automotive industry in North America, especially in the US, the region has the highest demand for seamless steel pipes.
        Europe is one of the largest producers and consumers of seamless steel pipes. Ongoing oil and gas exploration and periodic maintenance in the region are key drivers of demand growth for seamless steel pipes.
       The market in Southeast Asia and Oceania is expected to grow during the forecast period due to increased activity related to the oil and gas industry and upcoming new projects in the medium term.
        Market participants are focusing on new industry trends such as underground hydrogen storage pipelines to increase their market share in the emerging carbon control segment. The manufacturing industry has begun to adopt Industry 4.0 as a means to produce large volumes of products, manage resources and process materials, which has been a huge challenge in the past, especially in the production of labor-intensive steel products.
        Key players are choosing to develop advanced coatings with improved properties such as preventing CO2 corrosion and providing extended service life and cost optimization for pipeline maintenance. In parallel, the market is seeing major partnerships and acquisitions. New production facilities are being built and the capacities of existing plants are being increased.
        Famous manufacturers of seamless steel pipes are ArcelorMittaland, American Piping Products Inc., Benteler, Hunan Valin Co. Ltd, JFE Steel Corp., Jindal SAW Ltd, Nippon Steel & Sumitomo Metal Corporation, Tenaris SA, TATA Steel, United States Steel and Vallourec SA. .
        Market participants are adopting new strategies to comply with stringent environmental regulations, especially in regions such as Europe and North America. Key players in the market are focused on the development of high strength alloys to improve their use in highly corrosive environments for subsea and marine applications.
       Fact.MR provides an unbiased analysis of the global seamless steel pipe market in its new offering, providing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
        The study revealed the advantages and disadvantages depending on the process (hot rolling, cold rolling), coating (3 PE coating, FBE coating, 3 PP coating), material (stainless steel, alloy steel, carbon steel, others (duplex stainless steel, etc.) d.) Basic information. )), size (<10 inches, 10-15 inches, >15 inches) and end-use industries (oil and gas, energy, construction, automotive, chemicals, etc.) by major regions of the world (North America, Latin America, Europe , East Asia, South Asia and Oceania, Middle East and Africa).
        Steel Pipe Coating Market: In 2020, the steel pipe coating market growth rate will slow down sharply, with global revenue down 1.4% year on year. Steel pipe coating revenue will grow 1.6 times from 2021 to 2031 and reach nearly $12.8 billion in 2031.
        Steel powder market: Relatively new technologies such as powder metallurgy, additive manufacturing, MIM and DeD will actively drive the steel powder market. With the development of technology in countries such as Japan and the United States, and the improvement of existing technology, the demand for steel powder continues to grow.
        Steel Bar Magnets Market: Steel bar magnets are used to separate metal particles from mining materials. Over the past five years, the mining industry has experienced positive growth due to increased demand for materials and energy. This has a permanent impact on the demand for bar magnets. Steel bar magnets will grow at a faster rate over the long-term forecast period due to the forecast growth in demand from the mining industry.
        The market for high-performance fluoropolymers. The global market for high performance fluoropolymers is driven by the growing demand for household products, especially kitchen utensils, leading to overuse of this polymer in the paint industry. Increased use of high performance fluoropolymers in the chemical industry, including pump interiors, liners, gaskets, gaskets.
        Expanded Polypropylene Market: Increasing penetration into several end-use industries such as packaging, consumer products, and furniture will drive the global Expanded Polypropylene (EPP) market by 1.7 times between 2019 and 2029. Automotive and consumer goods are driving an increased demand for expanded polypropylene products.
        Extruded Polypropylene (XPP) Market: By 2032, the global Extruded Polypropylene (XPP) market will be valued at $1.75 billion from the current $903.8 million, with a CAGR of 6.9% yoy market period (2022-2032). The Packaging End-Use segment currently has $333.9 million in revenue.
        High Temperature Epoxy Market: According to the latest Fact.MR research, the high temperature epoxy market will grow steadily during 2021-2031. Demand for these epoxy resins will grow steadily in the short term and the long term growth outlook is positive. These epoxies find applications in many industries and are used in various fields such as coatings, adhesives, etc. and the demand for these epoxies is expected to grow during the forecast period of the report.


Post time: Mar-21-2023