Cold Drawn Seamless Steel Pipes Market By Standard (ASTM A179, ASTM A511, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53), Product Type, Production Process, Application, End-use Industry, and Geography - Global Forecast to 2029

The Cold Drawn Seamless Steel Pipes Market is expected to reach $22.34 billion, at a CAGR of 8% during the forecast period of 2022–2029. The growing demand for seamless pipes in the oil & gas sector is the key factor driving the growth of the cold drawn seamless steel pipes market. In addition, the rise in offshore spending and new oilfield discoveries are expected to create significant growth opportunities for the players operating in this market. However, trade protectionism and the introduction of new substitutes pose challenges to the market’s growth.

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Impact of COVID-19 on the Cold Drawn Seamless Steel Pipes Market

The outbreak of the COVID-19 pandemic severely affected numerous businesses across the globe. The COVID-19 pandemic emerged in Wuhan, China, during the last quarter of 2019. By March 2020, the outbreak had spread to numerous countries worldwide, with the WHO declaring the outbreak a global pandemic. Most industries were negatively impacted due to the disruption of supply chains and workforce limitations caused by the lockdowns. Factory closures and trade restrictions also added to the existing challenges, severely impacting numerous industries. Manufacturing plants were shut down, affecting production, which led to a significant demand-supply gap. Enterprises started rethinking their business strategies to generate revenue and recover from the losses incurred during the pandemic.

The COVID-19 pandemic severely impacted most sectors, such as oil & gas, manufacturing, education, logistics & supply chain, power generation, and automotive. The oil & gas sector was severely impacted, with petroleum consumption falling to its lowest level in decades due to travel restrictions and the global economic slowdown. According to the International Energy Agency, oil & gas revenues for several key producers declined by 50 to 85% in 2020, compared with 2019, based on an oil price of $30 per barrel. The global oil demand in 2020 declined by approximately 8.1 million b/d. Travel bans and lockdowns impacted the demand for oil & gas across India, China, Japan, Russia, and Canada, lowering oil & gas prices.

Nationwide lockdowns worldwide, lower demand for non-essential goods, and factory closures across several industries impacted the demand for power globally. In 2020, the global energy demand witnessed a decline of 6% compared to 2019. This decline in demand for electricity affected the growth of the power generation industry. Additionally, the lockdowns impacted the global automotive industry as it is heavily dependent on automotive components imported from China, India, and other developing nations. Similarly, infrastructure & construction industries also witnessed acute labor shortages, suspension & cancellation of projects, and disrupted supply and logistics. The COVID-19 pandemic created a demand-supply gap resulting in delayed government approvals worldwide.

Thus, the COVID-19 pandemic negatively impacted the cold drawn seamless steel pipes market due to low demand from end-use industries. However, supportive government policies are helping the global steel industry recover from the significant economic and production losses. For instance, in March 2022, the U.S. and Japan agreed to expand coordination involving trade remedies and customs matters, monitor bilateral steel and aluminum trade, cooperate on addressing non-market excess capacity and carbon intensity in these sectors, and review their arrangement annually. In May 2020, the Government of India announced $265 billion in aid to help revive the economy. Such stimulus packages announced by various governments across the globe are expected to help end-use industries recover, generating demand for cold drawn seamless steel pipes, driving the growth of this market during the forecasted period. Other similar trade agreements and government encouragement to realign the global economy are expected to help the cold drawn seamless steel pipes to recover from the negative impacts of the COVID-19 pandemic.

Furthermore, the ongoing tensions between Russia and Ukraine have affected supply chain disruption across the globe. This ongoing conflict may impact global diplomacy, markets, and other aspects by escalating into warfare with significant monetary damages, resulting in iron & steel supplies cessation. The situation has been evolving in unpredictable ways, and organizations are on increased alert and adapting to the new reality by anticipating and planning for various scenarios.

Increasing Demand for Seamless Pipes in the Oil & Gas Sector to Drive the Growth of the Cold Drawn Seamless Steel Pipes Market

The oil & gas sector is one of the leading consumers of cold drawn seamless steel pipes. Countries such as the U.S., China, Japan, India, and Germany are the leading producers and consumers of oil & gas globally. According to data from the U.S. Energy Information Administration, as of March 2022, crude production in the U.S. stood at 11.7 million barrels/day. The country is also the largest producer of oil globally. As per data from the U.S. Energy Information Administration (2021), in 2020, the U.S. accounted for 20% of the total oil produced globally, whereas, in 2019, the country accounted for 20% of global oil consumption. This growth in the country’s oil & gas sector is expected to boost the demand for seamless steel pipes, driving the cold drawn seamless steel pipes market.

Cold drawn seamless steel pipes hold huge potential in the global manufacturing industry since they are used as line pipes to transmit fluids such as oils and chemicals across end-use industries. The growing demand for oil & gas to meet the needs of the growing population across oil & gas, infrastructure & construction, power generation, automotive industries, and rapid urbanization are supporting market expansion.

In addition, the aging pipe infrastructure requires the replacement of pipes, driving the market growth. Aged pipelines have high chances of corrosion and leaks, and therefore several operators are investing in pipeline replacement and upgrades, which presents significant opportunities for the growth of this market. For instance, in February 2022, China planned to renovate 20,000 kilometers (12,427 miles) of its aging gas pipelines after a series of fatal blasts in Chongqing, in southwestern China, in the same month. Such developments and benefits offered by cold drawn seamless steel pipes in the oil & gas sector are expected to drive the growth of this market in the coming years.

Key Findings in the Cold Drawn Seamless Steel Pipes Market Study:

ASTM A335 To Dominate the Cold Drawn Seamless Steel Pipes Market Throughout 2029

Based on standard, the cold drawn seamless steel pipes market is segmented into ASTM A179, ASTM A106, ASTM A511/A511M, ASTM A213, ASTM A192, ASTM A209, ASTM A210, ASTM A333, ASTM A335, ASTM A53, and other standards. In 2022, the ASTM A335 segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. The large market share of this segment is attributed to the increasing need for seamless ferritic alloy steel pipes in high-temperature services; its characteristics include higher strength, resistance, elasticity, and hardenability.

MS Seamless Steel Pipes To Dominate the Cold Drawn Seamless Steel Pipes Market Throughout 2029

Based on product type, the cold drawn seamless steel pipes market is segmented into MS seamless steel pipes, hydraulic MS seamless pipes, ERW square & rectangular hollow section pipes, and honed tubes. In 2022, the MS seamless steel pipes segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. The large market share of this segment is attributed to its increasing use in the construction industry due to its high strength and pressure-bearing capability and the manufacture of structural parts & mechanical parts, such as oil drill pipes, automobile transmission shafts, bicycle frames, and steel scaffolding

Cross-roll Piercing & Pilger Rolling Segment to Dominate the Cold Drawn Seamless Steel Pipes Market During Forecast Period

Based on production process, the cold drawn seamless steel pipes market is segmented into cross-roll piercing & pilger rolling, multi-stand plug mill, and continuous mandrel rolling. In 2022, the cross-roll piercing & pilger rolling segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. The large market share of this segment is attributed to the rising demand for a high-quality surface finish with maximum productivity and its advantages, such as uniform macro and microstructure in the cross-cut section of the forged part.

Boiler Tubes Segment Projected to Grow at Highest CAGR During Forecast Period

Based on application, the cold drawn seamless steel pipes market is segmented into precision instrumentation, boiler tubes, heat exchanger tubes, hydraulic applications, fluid transfer lines, rifled tubes, bearing pipes, mining applications, automotive applications, and general engineering applications. In 2022, the boiler tubes segment is slated to register the highest CAGR during the forecast period. The high growth rate of this segment is driven by the growing demand for boiler tubes from end-use industries such as oil & gas and power generation and the increasing need for boiler tubes in steam boilers, fossil fuel plants, industrial processing plants, and electric power plants.

Oil & Gas Sector to Dominate the Cold Drawn Seamless Steel Pipes Market During Forecast Period

Based on end-use industry, the cold drawn seamless steel pipes market is segmented into oil & gas, infrastructure & construction, power generation, automotive, and other end-use industries. In 2022, the oil & gas segment is estimated to account for the largest share of the cold drawn seamless steel pipes market. The large share of this segment is attributed to the increasing government initiatives and investments and the rising requirement for upstream operations, including onshore and offshore drilling, general plumbing applications, and midstream operations in the oil & gas industry.

Asia-Pacific: The Largest Regional Market

The global cold drawn seamless steel pipes market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is estimated to account for the largest share of the global cold drawn seamless steel pipes market, followed by North America, Europe, Latin America, and the Middle East & Africa. The large market share of Asia-Pacific is attributed to the presence of major players along with several emerging startups in the region, increasing industrialization, urbanization, high requirement for electricity, government initiatives & developments in the oil & gas sector, and growing demand for cold drawn seamless steel pipes by end-use industries, such as power generation and automotive.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by the leading market participants in the cold drawn seamless steel pipes market over the last few years. The key players profiled in the cold drawn seamless steel pipes market are Nippon Steel Corporation (Japan), ArcelorMittal S.A. (Luxembourg), Jindal Saw Ltd. (India), ISMT Ltd. (India), Salzgitter AG (Germany), Tenaris S.A. (Luxembourg), JFE Holdings, Inc. (Japan), American Piping Products Inc. (U.S.), Chicago Tube and Iron Company (U.S.), United Seamless Tubulaar Private Limited (India), Xiamen Landee Industries Co., Ltd. (China), Hunan Standard Steel Co.,Ltd (China), U. S. Steel Tubular Products Inc. (U.S.), Sunny Steel Enterprise Ltd. (Malaysia), and Bri-steel manufacturing (Canada).

Scope of the Report:

Cold Drawn Seamless Steel Pipes Market, by Standard                                 

• ASTM A179
• ASTM A106
  • Grade A
  • Grade B
  • Grade C
• ASTM A511/A511M
• ASTM A213
  • Grade T11
  • Grade T22
  • Grade T1
  • Other Grades
• ASTM A192
• ASTM A209
  • Grade T1
  • Grade T22
  • Grade T11
  • Other Grades
• ASTM A210
  • Grade A1
  • Grade C
• ASTM A333
  • Grade 1
  • Grade 6
• ASTM A335
  • Grade P11
  • Grade P22
  • Grade P1
  • Other Grades
• ASTM A53
• Other Standards

Cold Drawn Seamless Steel Pipes Market, by Product Type              

• MS Seamless Steel Pipes
• Hydraulic MS Seamless Pipes
• ERW Square & Rectangular Hollow Section Pipes
• Honed Tubes

Cold Drawn Seamless Steel Pipes Market, by Production Process                

• Cross-roll Piercing & Pilger Rolling
• Multi-stand Plug Mill
• Continuous Mandrel Rolling

Cold Drawn Seamless Steel Pipes Market, by Application

• Precision Instrumentation
• Boiler Tubes
• Heat Exchanger Tubes
• Hydraulic Applications
• Fluid Transfer Lines
• Rifled Tubes
• Bearing Pipes
• Mining Applications
• Automotive Applications
• General Engineering Applications

Cold Drawn Seamless Steel Pipes Market, by End-use Industry        

• Oil & Gas
• Infrastructure & Construction
• Power Generation
• Automotive
• Other End-use Industries

Cold Drawn Seamless Steel Pipes Market, by Geography:     

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Indonesia
  • Singapore
  • Malaysia
  • Rest of Asia-Pacific
• Latin America
• Middle East & Africa

Key questions answered in the report: