Global Steel Pipe Market: Overview
Increasing construction activities across the world is one factor propelling the global steel pipe market. The market is projected to grow owing to the development of oil and gas industries. Further, steel pipes are preferred in various commercial and household applicatios for their several benefits. Some of those include tensile strength, durability, fire resistance, corrosion resistance, and so forth. This is expected to drive their market too.
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An upcoming report Transparency Market Research on the global steel pipe market would help readers analyze world demand for steel pipe in near future. Further, it will help them gauge various micro and macro-economic factors associated with it. This compilation is intended to provide a comprehensive view of the opportunities and challenges witnessed the global steel pipe market. Furthermore, a detailed analysis on geographical region will offer a brief idea of the global steel pipe market.
Global Steel Pipe Market: Trends and Opportunities
The global steel pipe market is expected to grow during the upcoming years owing to the features of steel such as reliability and durability. The wide range of usability of the steel pipe has increased demand of steel pipe in the market. The growing demand of replacing ageing pipes with the steel pipes i boost the global demand of steel pipes. The increased demand of steel pipes is another factor propelling growth of the global steel pipe market. Moreover, steel pipes are ideal to carrying flammable gas owing to their non-reactive property.
On the other side, however, the availability of substitutes like iron and plastic pipes and high cost associated with the installation of the steel pipes are some factors estimated to restrain growth of the market. However, the increasing usage of steel pipes in agriculture and irrigation, building and construction, sewerage systems, fire sprinkler systems, industrial water lines, plant piping andother areas will ensure the market’s growth.
Some of the dominant players in the global steel pipe market are ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Hebei Iron & Steel Group, Baosteel, and Wuhan Iron & Steel Group. These players are increasing their product portfolio so as to stay ahead of each other and increase their shares in the global steel pipe market.