Market Insights
Industrial tube refers to a tube that is used for the transportation of solids and fluids. Solids and fluids are transported by industrial pipelines. Industrial tubes convey water, gas, sewage, and other materials, as well as provide critical services to businesses such as oil and natural gas pipelines, power plants, chemical processing facilities, refineries, steel mills, and paper mills.
The main types of industrial tubes are process pipes, mechanical tubes, heat exchanger tubes, structural tubes, and hydraulic and instrumentation tubes. Process pipes refer to piping systems that carry chemicals under pressure or vacuum. It is used to define the value of piping systems that are used in chemical processes. The industrial pipes are manufactured through the seamless and welded manufacturing process that uses several materials, such as steel and not steel. It is employed in oil and gas and petrochemical, automotive, mechanical and engineering, construction, and other end users.
The oil and gas industry has been a key driver of the industrial tube market. Exploration and production activities, demand for pipelines, and transportation infrastructure contribute to the market growth. Infrastructure development projects such as building bridges, buildings, highways, and railways require large amounts of steel pipes. The need for efficient and durable materials in construction has increased the demand for industrial tubing solutions.
The automotive industry's focus on lightweight materials and fuel efficiency is driving demand for high-strength, lightweight industrial tubes. Aluminum and composite tubes are applied in vehicle chassis, engine components, and exhaust systems, contributing to their high demand in the market. Demand for industrial tubes fell in 2021 as the COVID-19 pandemic forced industries to shut down and the construction industry, a major consumer of industrial tubes for structural purposes, experienced disruptions due to lockdowns and restrictions.
Many construction projects were temporarily halted or delayed, leading to a decrease in demand for industrial tubes used in building frameworks and infrastructure. However, demand for industrial tubes rebounded in recent months, reviving hopes for strong growth trajectory as global population growth and urbanization are increasing the demand for efficient water and wastewater management solutions. Industrial tubes are used in water distribution networks, sewage systems, and desalination plants to support the demands of the water and wastewater management sector.
The industry registered a steep recovery from 2022 onwards. The market for industrial tubes is likely to grow at a healthy 8.2% CAGR over the next five years to reach an estimated value of US$ 860 billion in 2028.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Type-Type Analysis
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Process Pipes, Mechanical, Heat Exchanger, and Structural
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Process pipes are anticipated to remain the biggest demand generator for industrial tubes in the years to come.
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Material-Type Analysis
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Steel and Non-Steel
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Steel is expected to be the most preferred material in various industries, including chemical, oil, gas, petrochemical, energy, power, and automotive.
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Manufacturing- Type Analysis
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Seamless and Welded
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Seamless tubes are expected to dominate the manufacturing segment of industrial tubes market in the years to come.
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End-use- Type Analysis
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Oil & Gas and Petrochemical, Automotive, and Chemical
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The Oil & Gas and Petrochemical segment is expected to dominate the industrial tubes market, as they demand tubing for transporting oil, gas, and petrochemical products. This demand drives a significant portion of the market.
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Regional Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific's growing population and increasing consumption drive demand for industries like construction, automotive, and energy production, making it the largest market in the next five years.
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Based on the Type
The industrial tubes market is segmented into process pipes, mechanical, heat exchangers, and structural. The process pipes segment is expected to remain the largest and fastest-growing industrial tube type in the market during the forecast period as the energy sector, including oil and gas exploration, refining, and distribution, relies heavily on process pipes for the transportation of hydrocarbons and other fluids. Despite the increasing focus on renewable energy sources, oil and gas remain significant contributors to the global energy mix, which will drive the growth of the segment in the forecast period.
Material Type
The market is segmented into steel and non-steel. Steel is anticipated to dominate the material segment during the forecast period as steel has high strength, high durability, excellent chemical and corrosion resistance, formability, and weldability due to which it has a high consumption rate and is widely used in the manufacturing of these industrial tubes used in the chemical, oil & gas and petrochemical industries.
Manufacturing Type
The market is segmented into seamless and welded. Seamless tubes are expected to dominate the manufacturing segment of the industrial tubes market in the years to come as seamless tubes are often preferred in applications that required high-pressure, high-temperature, or corrosion-resistant properties, as they tend to have fewer defects and better mechanical properties due to their manufacturing process.
End-Use Type Analysis
The market is segmented into oil & gas and petrochemical, automotive, and chemical. The oil & gas and petrochemical segment is anticipated to dominate the industrial tubes market, as the oil & gas sector is very important for industrial tube demand, as approximately 50% of all industrial tubes & pipes are used for oil & gas applications, including OCTG, topside process pipes, riser pipes, subsea flowlines, and heat exchanger tubes or instrumentation tubes among others. This has increased the consumption of steel tubes in the oil & gas and petrochemical and chemical industries.
Regional Analysis
Asia-Pacific is expected to remain the largest market for industrial tubes during the forecast period as the region's growing energy needs, coupled with its role as a major energy consumer, drive demand for industrial tubes in the oil & gas, power generation, and renewable energy sectors.
The industrial tubes market is segmented into the following categories:
By Type
- Process Pipes (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Mechanical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Heat Exchanger (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Structural (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Material Type
- Steel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Non-steel (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Manufacturing Type
- Seamless (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Welded (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By End-use Type
- Oil & Gas and Petrochemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Key Players
The following are the key players in the industrial tubes market:
- ArcelorMittal S.A.
- Nippon Steel & Sumitomo Metal Corporation
- Plymouth Tube Company, USA
- Sandvik AB
- Salzgitter AG
- Tenaris
- Tata Steel
- Vallourec S.A.
Research Methodology
This strategic assessment report from Stratview Research, provides a comprehensive analysis that reflects today’s industrial tubes market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for existing and new players
- Key success factors
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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