Gas and Water Demand Drives Requirement of Continuous Welded Pipes and Tubes

GIA declares the release of a total report in globe on the Continuous Welded Pipe and Tubes markets.

Global market for Continuous Welded Pipes and Tubes is aimed to reach 24.2 million tons by 2018, driven by the continuous need to meet the global gas and water supply requirements. Oil and gas industry generally exhibit resilience to periods of economic slump due to the fact that energy requirement continues to rise even when conventional reserves of oil and gas are shrinking rapidly. Apart from the energy sector the demand for seamless pipes and tubes also emerges from automobile, power generation and fertilizers markets, among others. 

Demand growth for seamless steel Pipe is expected from high energy-consuming countries across Middle East, Asia, Australia, and Latin America, which are intensifying oil and gas exploration activity to meet the escalating demand from respective domestic markets. Escalating demand for energy from emerging nations and the subsequent increase in the number of crude oil and gas development projects are expected to enhance the demand for SSAW Steel Pipe and tubes. 

In developed regions, significant demand for seamless pipes is expected from replacement of existing pipe systems, as most of these systems were established more than three decades ago and are thus approaching the end of their useful life. Increase in offshore drilling operations and anticipated rise in refinery and chemical plant activity levels are also expected to augur well for the seamless pipes market.