Industrial News

Steel is being realized as an essential material for strengthening existing installations and infrastructure. Primary application sectors for these products include nuclear, construction, automotive, oil and natural gas, steam generation, and metal processing industries. Steel products such as steel pipes & tubes, beams, rods etc., are used for a number of applications, including oil & and gas industry, petrochemical industry, construction industry, energy, transportation, automotive industry, and others. The US represents the world's largest steel pipes and tubes market and is projected to account for over 40 million tons by 2009. There is high growth potential for segments such as oil country tubular goods (OCTG) and structural tubes. Electric resistance welded pipes market is projected to cross 41 million tons by 2009, growing at a compounded annual rate of over 3.4% during the ten-year analysis period. Asia-Pacific and Latin America are among the fastest growing steel pipes and tubes markets owing to high economic growth with increased activity in sectors such as oil, power, and refineries. Asia-Pacific steel pipes and tubes market is projected to register a CAGR of over 3% over the ten-year analysis period.

With the development of infrastructure, the market for steel and other metals has also increased. Steel is the most sought after metal and is used for a number of purposes. The steel pipes and tubes market faces continuous pricing pressures. With excess capacity and increased production, pipe manufacturers slash prices in order to improve their individual positions in the market. Any fluctuation in price of steel, leads to an increase or decrease in prices of steel pipes and tubes. However, with the use of new technologies, manufacturers are able to lower production costs of steel pipes and tubes, thereby lowering the price of steel pipes and tubes.

The global seamless pipes market is expected to remain balanced for the next couple of years with supply meeting demand. However, supply is likely to exceed total demand by 2009, as a result of excessive production from China. Seamless pipes & tubes market in the oil & gas sector is expected to rise by more than 3.6 million tons by 2009 as compared to the year 2006. Construction of oil and gas pipelines fuels demand for new and replacement steel tubes, globally. Continuous welded pipes & tubes market is projected to account for more than 12.1 million tons by the year 2009.

Major players dominating the global steel pipes & tubes market include Arcelor-Mittal, Corus Group, Dofasco, Europipe, IPSCO, JFE Steel Corporation, Kobe Steel, MacSteel, Melewar Industrial Group Berhad, Nippon Steel Corporation, Northwest Pipe Company, Oregon Steel Mills, Sandvik Steel, Sumitomo Metal Industries Limited, Techint Group, Tenaris, Ternium S.A., The Timken Company, Tubacex S.A., United States Steel Corporation, Vallourec & Mannesmann Tubes, Volzhsky Pipe Plant, and Wheatland Tube Company.

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