The Americas steel pipes market is expected to remain stable. However, the industry is likely to face difficulties due to substitute pipe materials such as plastic and iron, as well as high production and installation costs for steel fixtures. The Americas steel pipes market is expected to grow steadily but moderately, with growth in niche end use sectors such as mining and automotive production.
Despite the challenges posed by the coronavirus pandemic through 2020, demand for steel pipes in the Americas has increased. Public and private investment is increasing in the oil and gas, energy, and construction sectors. According to a recent Future Market Insights report, the sector will continue to grow between 2020 and 2030.
According to FMI analysts, the oil and gas industry applications will be the main source of income, especially with the discovery of unconventional sources and processes such as shale and fracking.
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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 that of 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 a number of upcoming projects in the United States and Canada demand for steel pipes in the region is expected to surge in the near future,” said a lead analyst at FMI.
Covid-19 Impact on Americas Steel Pipes Market
The coronavirus pandemic has been projected to be moderately impact the Americas steel pipes market. Lockdown restrictions on the manufacturing sector and the mining industry are anticipated 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 limit market growth. Also, the drop in demand is likely to result in shut down or limited operations at conventional production facilities, in addition to 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.
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.
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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, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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