Industrial tubes have applications ranging from the oil, energy, petrochemical, chemical, marine, infrastructure, construction to automotive industry.
The tube market has seen a rise in recent years due to its effective properties and durable characteristics. It is estimated that the US, Russia and the Middle East countries will be covering almost 70% of the global oil & gas production, resulting in positive market growth for steel tube applications.
The market is divided into carbon steel, stainless, cooper & plastic segments. Steel is the dominating segment due to its excellent corrosion and chemical resistance, high strength and durability. Excellent strength and low-temperature properties offered by steel tubes provide high utility in construction structures. These positive properties, in turn, are leading to a boost in the overall consumption of steel tubes across the globe.
Over the past years, industrial tubes have gained popularity in the oil and gas industry for transporting fluids and in the form of conveyor rollers, bearing and casings for concrete piling. In addition tubes are also used in heating, ventilation, and air conditioning (HVAC) and refrigeration equipments in the mechanical structure of heat exchangers, compressors and boiler pipelines.
The global industrial tubes market is expected to witness significant growth owing to its requirements in a broad range of structural applications and processing conditions across various industries. World green transformation and rising energy costs & loss, quality leakage concerns in various industries especially located in cooler regions of the world are affecting the operational efficiencies of the manufacturing industries. This is expected to improve on the quality of materials and application of a heat tracing systems in production plants, providing further growth of the industrial tubes market next years to come.
Seamless & coiled tubing enhances the overall integrity of various application systems reducing the leakage risks and also minimizing the maintenance costs. Steel tubes dominate the industrial tube markets owing to superior mechanical characteristics, geometric tolerance, and weldability offered by the products. Advancement in materials for the manufacturing of industrial tubes especially for the offshore structures coupled with rising global offshore exploration activities is expected to provide further growth and opportunities. Emerging economies will be witnessing substantial growth in the commercial infrastructure segments thanks to public investment projects.
Different economical areas and countries implemented number of anty-dumping duties, export/import taxes & quantitative quotas on various tube types, to be able to protect own manufacturers from low-cost imports coming from CIS, China, India and Turkey. This influence relocation of resources and growth potentials for specific manufacturers and countries.
Procurement Affiliation assist partnered companies in sourcing, pre-qualification of supply channels. We monitor on market opportunities, providing assessments, evaluations on customs implications as it comes to export / import of various commodities allowing to avoid or reduce involved risks in cross border procurement.
Industrial tubes market is expected to grow up to 536 BEUR by 2023, and be valued at 585 BEUR by 2027.
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