The steel pipes market in the Americas is expected to grow steadily but moderately, with growth in niche sectors such as mining and automotive production. The Americas steel pipes market is likely to reflect steady. However, the industry is likely to face challenges in terms of substitute pipe materials such as plastic and iron, as well as high production and installation costs for steel fixtures.
The worldwide steel pipes market originating from America is poised for robust growth, with a projected market value reaching US$ 24.8 million by 2023 and further expanding to US$ 35.3 million by 2033. This anticipated growth trajectory is underpinned by a Compound Annual Growth Rate (CAGR) of 3.6%, signifying sustained positive momentum throughout the forecast period.
The oil and gas industry applications are anticipated to be the main source of income, especially with the discovery of unconventional sources and techniques like shale and fracking, according to analysts from FMI.
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Recent Companies Developments
ArcelorMittal: ArcelorMittal has taken strategic steps to optimize its operations, divesting its United States assets to Cleveland Cliffs Inc. for a valuation nearing 1.4 billion. This move reflects the ongoing trend among steel manufacturers to streamline operations and strengthen market presence through consolidation. Additionally, the company is poised to enhance its capabilities with the unveiling of a new electric arc furnace facility at its Calvert, Alabama operations, featuring state-of-the-art hot dip galvanizing lines.
Tenaris: In response to market dynamics, Tenaris has announced plans to rationalize operations at its melt facilities across the United States due to the significant downturn in oil prices. This decision has resulted in layoffs and equipment idling, including facilities in Koppel and Ambridge. Concurrently, Tenaris is diversifying its portfolio with the acquisition of IPSCO Tubulars, a prominent pipe manufacturer based in Houston, in a deal valued at approximately 1.1 billion.
Gerdau S/A: Gerdau S/A has embarked on a trajectory of expansion and optimization, signaling the reopening of operations at its Ouro Branco plant in South Eastern Brazil. This move is anticipated to augment the company’s production capacity by 1.5 million tons annually. Additionally, Gerdau S/A has forged a strategic partnership with SKF to enhance productivity and minimize downtime across its Brazilian facilities. However, the company is also navigating challenges, with plans for substantial downsizing at its Saint Paul plant due to the idling of operations.
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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.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.
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