The hollow cylindrical structures known as industrial tubes are made up of copper, aluminum, steel, nickel, and others. They are available in various types such as mechanical tubes, process pipes, hydraulic, and structural tubes. Industrial tubes find application in various industries such as chemicals, oil & gas and petrochemicals, energy & power, automotive, and construction.
Significant growth in the construction sector is expected to drive growth of the industrial tubes market during the forecast period. According to the Government of U.K., the global construction output is projected to increase from around US$ 8.5 trillion in 2012 to US$ 12 trillion in 2025, witnessing a growth of over 41%.
Asia Pacific is expected to be the largest and fastest growing market in the industrial tubes market during the forecast period. This is due to increasing investment in oil & gas exploration projects. In the oil & gas and petrochemical industry, industrial pipes are used for extraction, transportation, and processing. According to India Brand Equity Foundation, oil and gas industry of India is expected to attract US$ 25 billion investment in production by 2022 due to capacity expansion in the petrochemical & chemical industry and increase in gas exploration projects.
Key players operating in the industrial tubes market include, Tata Steel, Nippon Steel & Sumitomo Metal Corporation (NSSMC), US Steel, Sandvik AB, Aperam, Vallourec S.A, Tenaris, Tubacex, Benteler, and AK Tube LLC.
On the basis of product type, the global industrial tube market is segmented into:
On the basis of material, the global industrial tube market is segmented into:
On the basis of manufacturing process, the global industrial tube market is segmented into:
On the basis of end-use industry, the global industrial tube market is segmented into:
On the basis of region, the global industrial tube market is segmented into:
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