Dublin, Nov. 08, 2021 (GLOBE NEWSWIRE) --
The "Continuous Welded Pipes and Tubes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Continuous Welded Pipes and Tubes estimated at 18.3 Million Tons in the year 2020, is projected to reach a revised size of 23.5 Million Tons by 2026, growing at a CAGR of 4.2% over the analysis period.
Continuous welded pipe is a pipe with a single longitudinal seam that is formed through continuous welding process. These pipes are also referred to as Electric Fusion Welding (EFW) pipes.
Growth in the global market would be mainly driven by improvement in residential construction and infrastructure spending on projects such as airport, metros, and greenhouse structures among others. The industry also stands to benefit from the requirement to replace antiquated pipelines, especially in developed economies of the US and Europe.
As CW pipes are also used in fire sprinkler systems, stringent regulatory standards, and greater industrial safety requirements along with rise in infrastructure spending are expected to drive future demand. As CW pipes face strong competition from ERW pipes, there is a constant focus on improving product quality to ensure less wattage and lower frequency of replacement.
Improved infrastructure spending driven by rapid urbanization, growing focus on urban water security and the ensuing expansion of water supply networks; healthy pace of industrialization and the resulting investments in pipelines for industrial water and wastewater management are also expected to boost growth prospects.
The U.S. Market is Estimated at 1.6 Million Tons in 2021, While China is Forecast to Reach 10.6 Million Tons by 2026
The Continuous Welded Pipes and Tubes market in the U.S. is estimated at 1.6 Million Tons in the year 2021. The country currently accounts for a 8.52% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 10.6 Million Tons in the year 2026 trailing a CAGR of 5% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach 11.1 Million Tons by the year 2027.
Asia-Pacific represents a major market, driven by rapid industrialization along with investment in infrastructure development projects. In developed countries of North America and Europe, majority of the operational systems have reached the fag end of their useful lifespan, necessitating extensive overhaul of the existing systems, which in turn involve enormous investments and driving demand for replacement.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- COVID-19-Led Economic Downturn Weighs on Construction Sector, Impacting Demand for CW Pipes
- Continuous Welded Pipes: An Introduction
- End-Uses of Continuous Weld Pipes
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 20 Featured)
- Continental Steel & Tube Company
- Garth Industrial
- JFE Steel Corporation
- MRC Global Inc
- Nippon Steel & Sumitomo Metal Corporation
- Saginaw Pipe Co., Inc
- TIASCO Ltd
- Wheatland Tube Company
- Zhejiang Jiuli Hi-Tech Metals Co., Ltd
3. MARKET TRENDS & DRIVERS
- Rise in Demand for Improved Water Access to Drive Demand
- Rising Need to Upgrade Existing Water Infrastructure Opens New Opportunities
- Product Quality Gains Importance
- Aging Pipelines Drive Replacement Demand
- Global Natural Gas Demand to Support Consumption of Continuous Welded Pipes
- Natural Witnesses Notable Compression Amid COVID-19
- Growth Remains Buoyant in Pressure Applications
- Fire Sprinklers: An Important Market for CW Pipes
- Surge in Number of High Rise Buildings Boost Prospects
4. GLOBAL MARKET PERSPECTIVE
- World Current & Future Analysis for Continuous Welded Pipes and Tubes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Consumption in Thousand Tons for Years 2020 through 2027 and % CAGR
- World Historic Review for Continuous Welded Pipes and Tubes by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Consumption in Thousand Tons for Years 2012 through 2019 and % CAGR
- World 15-Year Perspective for Continuous Welded Pipes and Tubes by Geographic Region - Percentage Breakdown of Volume Consumption for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America and Rest of World Markets for Years 2012, 2020 & 2027
III. REGIONAL MARKET ANALYSIS
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