Analysts from FMI have showed the oil & gas sector applications are projected to be the primary revenue source, especially with the discovery of unconventional sources and processes such as shale and fracking.
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The Americas steel pipes market is likely to reflect steady, but moderate, growth, with growth in niche end-use sectors such as mining and automotive production. The industry is likely to face challenges in terms of substitute pipe materials such as plastic and iron, besides high costs associated with the production and installation of steel fixtures.
The study by FMI encompasses an overview of the sector, including prominent dynamics of the market. Some of the critical takeaways of the report include:
- The Americas steel pipes market was valued at 20.5 billion in 2019, driven largely by the demand from civil infrastructure and the oil & gas sector of the region.
- Carbon steel pipe products are major contributors to market revenue, with advantages in easier access and chemical and shock resistance over other steel pipe variants.
- Industrial applications, particularly in the oil & gas sectors, are generating greater demand than construction and mining sectors through 2030.
- The United States will remain a major market for steel pipes in the Americas, aided by a vast economy, characterized by steady growth in the past few years. Brazil is likely to reflect relatively positive prospects on the back of changes in government policy.
“The Americas have become a leading region in the production of oil and gas with unconventional resources such as shale gaining the spotlight. With several upcoming projects in the United States and Canada, demand for steel pipes in the region is expected to surge soon,” said a lead analyst at FMI.
Covid-19 Impact on American Steel Pipes Market
The coronavirus pandemic has been projected to be moderately affect the Americas steel pipes market. Lockdown restrictions on the manufacturing sector and the mining industry are expected to affect raw material supplies and logistics in the supply chain for the short term. Also, the negative effects of the outbreak on the global economy will hurt imports and exports disrupting supply chains.
End-use applications, particularly in the automotive and construction sectors, owing to compulsory social distancing regulations, are estimated to limit market growth. Also, the drop in demand is likely to result in shut down or limited operations at conventional production facilities, besides widespread layoffs.
The problems are likely to be compounded by reduced demand for crude oil, restricting expansion plans in the sector. Recovery is likely to be slow owing to continuing uncertainty over the duration of the pandemic.
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American Steel Pipes Market Key Challenges
While the Americas steel pipes market is projected to flourish, albeit at a slow rate through 2030, steel pipe manufacturers are expected to face obstacles that will restrain the potential of growth in the long term.
For instance, the high costs of installation associated with steel pipes hinder adoption rates. In addition, the Americas steel pipes market will witness strong competition from alternative pipe materials such as plastic and iron, owing to cost advantages.
Steel pipe diameters are limited owing to major cost increases for larger sizes, which limits application for offerings developed by manufacturers.
American Steel Pipes Market Key Segments
Material type
- Carbon Steel
- Alloy Steel
- Stainless Steel
End Use
- Construction
- Residential & Commercial
- Civic Infrastructure
- Mining
- Municipal Water Supply and Treatment Utilities
- Industrial
- Automotive
- Chemicals & Petrochemicals
- Oil & Gas Pipelines
- Power Generation
- Others (textile, pharmaceuticals)
Design
- Seamless
- Welded
- SAW
- ERW
Country
- Brazil
- Argentina
- Mexico
- Canada
- U.S.
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Who is winning?
In its report, Future Market Insights has given detailed analysis on the many strategies being used by manufacturers in the Americas steel pipes market. Key players are emphasizing on investments towards capacity expansions and strategic acquisitions and divestments in line with changing demand in the region.
Some of the leading players in the industry include Arcelor Mittal, Tenaris, Gerdau S/A, American Cast-Iron Pipe Company Baosteel Group Corporation, Evraz plc, Nippon & Sumitomo Steel, and JFE Holdings Corporation, among others.