Steel Pipe Market Growth: Projected to Hit USD 154.8 Billion by 2035 Amid Rising Energy Demand | Future Market Insights, Inc.

The global steel pipe market is set for steady growth over the next decade, driven by increasing industrialization, infrastructure expansion, and rising energy demand. Steel pipes play a crucial role in industries such as oil and gas, construction, water transportation, and manufacturing, making them essential for global economic development. The market's growth is further supported by advancements in energy sectors, including hydrocarbons and renewable energy, driving demand for seamless and welded steel pipes across various regions.

/EIN News/ -- NEWARK, Del, March 04, 2025 (GLOBE NEWSWIRE) -- The global steel pipe market is set to experience steady growth over the next decade, fueled by rising industrialization, infrastructure advancements, and increasing energy demand. The market, which is projected to be valued at USD 105.6 billion in 2025, is anticipated to expand to USD 154.8 billion by 2035, reflecting a CAGR of 3.9%. Steel pipes play a crucial role across multiple industries, including oil and gas, construction, water transportation, and manufacturing, making them essential to global economic progress.

The oil and gas industry remains a primary driver of steel pipe demand, as its expansion significantly influences the market worldwide. Steel pipes are fundamental to hydrocarbon drilling, exploration, and transportation, serving as indispensable components in the energy sector. Additionally, the solar energy industry has witnessed rapid growth in recent years, leading to an increased need for seamless and welded steel pipes used in pipeline projects across North America, the Middle East, and Asia-Pacific.

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Global Steel Pipe Market Growth Forecast 2025 to 2035

The steel pipe market is anticipated to grow significantly over the next decade due to surging demand for durable and corrosion-resistant piping solutions. Expanding industrialization and urbanization are expected to contribute to a steady increase in market value. Government initiatives for infrastructure development and pipeline expansion projects further drive market momentum. Additionally, advancements in manufacturing technologies, such as seamless pipe production and eco-friendly coatings, are expected to enhance product efficiency and sustainability.

Demand for Stainless Steel Pipes in the Pharmaceutical Sector

The pharmaceutical industry increasingly relies on stainless steel pipes for their superior hygiene and resistance to corrosion. These pipes are widely used in the production and transportation of medical-grade fluids and chemicals. The sector's stringent regulatory requirements mandate the use of non-reactive and contamination-resistant materials, making stainless steel pipes the preferred choice. Additionally, the rise of biopharmaceuticals and vaccine production has further accelerated the demand for high-quality stainless steel piping solutions to ensure sterility and compliance with safety standards.

Applications of Carbon Steel Pipes in Various Industries

Carbon steel pipes are gaining traction due to their strength, affordability, and versatility. These pipes are widely used in industries such as construction, manufacturing, and power generation. Their ability to withstand high pressure and extreme temperatures makes them a preferred choice in industrial applications. In the energy sector, carbon steel pipes are used for transporting oil, gas, and steam, while in the automotive and heavy machinery industries, they serve as essential structural components. Their adaptability to different coating and lining technologies further extends their usability in harsh environments.

"The steel pipe market is witnessing consistent growth, fueled by rapid industrialization, expanding infrastructure, and the increasing need for energy solutions. As a fundamental component across multiple industries, steel pipes continue to play a pivotal role in supporting economic progress worldwide. With advancements in both traditional and renewable energy sectors, the demand for high-quality steel pipes remains strong, shaping the industry's future trajectory," - says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

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Oil and Gas Processing Steel Pipe Market Share

The oil and gas industry is one of the largest consumers of steel pipes, utilizing them in exploration, transportation, and refining processes. The market share of steel pipes in this sector continues to expand as companies invest in offshore drilling and pipeline networks to meet growing global energy demands. With the increasing shift towards liquefied natural gas (LNG) and enhanced oil recovery (EOR) techniques, the demand for specialized, high-strength steel pipes is expected to rise. Additionally, the need for corrosion-resistant materials in deep-sea and high-pressure environments is driving innovations in steel pipe coatings and alloys.

Water Treatment Facilities Using Tool Steel Pipes

Tool steel pipes are increasingly being used in water treatment facilities due to their high resistance to corrosion and mechanical strength. These pipes play a crucial role in wastewater management, desalination plants, and municipal water supply systems. Given the rising concerns over water scarcity and pollution, governments and industries are investing heavily in advanced water treatment solutions, further boosting the demand for tool steel pipes. Their durability and resistance to harsh chemicals make them ideal for long-term applications in water purification and distribution systems.

Coated and Lined Steel Pipes Adoption Trends

The adoption of coated and lined steel pipes is growing as industries seek enhanced durability and protection against corrosion. These pipes are extensively used in water distribution, oil and gas pipelines, and chemical processing plants to extend service life and improve performance. Advanced coatings such as polyethylene, epoxy, and fusion-bonded solutions provide superior resistance to environmental and chemical degradation. Furthermore, lined pipes with cement mortar, polymer, or ceramic coatings are increasingly used in industries requiring high-purity fluid transportation, such as food processing and pharmaceuticals.

Automotive Industry's Use of Steel Pipes

Steel pipes are integral to the automotive sector, being used in exhaust systems, chassis components, and fuel lines. The push for lightweight and high-strength materials in vehicle manufacturing is driving innovations in steel pipe production, ensuring safety and efficiency in modern automobiles. The increasing adoption of electric vehicles (EVs) has also influenced steel pipe demand, as manufacturers explore advanced alloy compositions to reduce weight while maintaining structural integrity. Furthermore, the growing emphasis on fuel efficiency and emission reduction has led to the development of high-performance, heat-resistant steel pipes for turbochargers and exhaust systems.

With technological advancements and increasing investments in infrastructure, the steel pipe market is expected to experience robust growth in the coming years, making it a crucial component of industrial and commercial applications worldwide.

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Regional Analysis of Steel Pipe Industry Trends

Asia-Pacific dominates the global steel pipe market, driven by rapid industrialization in China, India, and Japan. The region’s booming construction and energy sectors are major contributors to the high demand for steel pipes. North America and Europe are also key markets, with rising demand in construction and energy industries, alongside the increasing adoption of advanced pipeline technologies. Latin America and the Middle East are witnessing increased adoption due to expanding oil and gas projects, infrastructure development, and government investments in water management and transportation networks.

Key Players

• ArcelorMittal
• Nippon Steel Corporation
• Tenaris S.A.
• Vallourec S.A.
• United States Steel Corporation
• Jindal Saw Ltd
• TMK Group
• ChelPipe Group
• SeAH Steel
• Tata Steel

Market Segmentation

By Material Type:

In material type, the industry is divided into Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel

By Application:

In application, the industry is divided into Automotive industry, Construction and mining, Textile Machinery, Chemicals, Pharmaceuticals, Energy industries, Refinery Petrochemicals, Oil and Gas Processing, Water treatment facilities

By Region:

The report covers key regions, including North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and the Middle East and Africa (MEA).

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