Industrial Tubes Market To Develop Rapidly And Cross $1065.5 Million By 2032

The industrial tubes market was valued at USD 636.59 Million in 2023 and is projected to hit USD 1065.5 Million by 2032, with a compound annual growth rate (CAGR) of 5.89% during the forecast period 2024-2032. development of the global chemical and petrochemical sector is the primary booster for the industrial tubes market. Moreover, the developing energy & power section is also powering the requirement for industrial tubes.

Vallourec S.A., Tata Steel, Tenaris, Sandvik AB, and Nippon Steel & Sumitomo Metal Corporation (NSSMC) are the major companies active in the global industrial tubes market.

Petrochemical And Oil & Gas Industry Segment Predicted To Clock The Maximum CAGR In The Years To Come

The oil & gas sector is the commanding end user of steel tubes, and hence the development in oil & gas manufacturing is the primary boosting factor for the global market. As per Zion Market Research, the US, the Middle East nations, and Russia are predicted to add up for more than 2/3rd of the oil production in 2040, a significant rise from 62% in 2019.

The oil & gas industry is very essential for seamless tube requirement as almost half of all seamless pipes & tubes are employed for oil & gas applications comprising topside process pipes, OCTG, subsea flowlines, riser pipes, and instrumentation tubes or heat exchanger tubes amongst others. This has elevated the usage of steel tubes in the chemical & petrochemical and oil & gas sectors.

Asia Pacific Is Expected To Be The Biggest Market During The Forecast Period In Terms Of Value

Asia Pacific has the biggest populous nations such as India and China. These nations are swiftly going via capacity extension in the chemical and petrochemical sector due to the elevated usage of the chemical goods. Moreover, automobile manufacturing is also predicted to develop considerably with the development in the disposable revenue of the middle-class populace. The global industrial tubes market is, consequently, predicted to undergo a positive developmental trend in the automotive sector. The construction sector is also predicted to witness reasonable requirement for industrial tubes with the development in key regions in the commercial infrastructure.

Browse the full “Industrial Tubes Market- by Type (Process pipes, mechanical, heat exchanger, structural), by Material (Steel, Non-steel), by Manufacturing (Seamless, Welded), by End user (Oil & gas, Petrochemical, Automotive, Chemical)- Global Industry Perspective Comprehensive Analysis and Forecast, 2024 - 2032.” Report at https://www.zionmarketresearch.com/report/industrial-tubes-market

The global industrial tubes market is segmented as follows:

By Type

• Process Pipes
• Mechanical Tubes
• Heat Exchanger Tubes
• Structural Tubes
• Hydraulic & Instrumentation Tubes
• Others (Capillary Tubes, Boiler Tubes, Precision Tubes)

By Manufacturing Method

• Seamless
• Welded

By Material

• Steel
• Non-steel

By End-use Industry

• Oil & Gas and Petrochemical
• Automotive
• Mechanical & Engineering
• Construction
• Chemical
• Others (Sanitary Systems, Water Treatment, Medical Tubes, Pharmaceutical, Food & Beverage, Aerospace, and Marine)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com