Industrial Tubes Market Size, Share, Growth Report 2030

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The Industrial Tubes Global Market Report 2023 by The Business Research Company, provides industrial tubes market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Industrial Tubes Global Market Report 2023, the market size grew from $548.43 billion in 2022 to $595.45 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global industrial tubes is expected to grow to $790.73 billion in 2027 at a CAGR of 7.3%.

The rise in the oil and gas industry is expected to propel the growth of the industrial tubes market going forward. The oil and gas sector focuses on exploration, development, drilling, production, refining, distribution, and transportation of hydrocarbons. The industrial tubes are designed to transport crude and refined petroleum, as well as fuels such as oil, natural gas, and biofuels, efficiently.

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The industrial tubes market is segmented:

1) By Type: Process Pipes, Mechanical Tubes, Heat Exchanger Tubes, Structural Tubes, Hydraulic And Instrumentation Tubes

2) By Manufacturing: Seamless, Welded

3) By Material: Steel, Non-steel

4) By End-User: Oil And Gas and Petrochemical, Automotive, Mechanical And Engineering, Construction, Other End-Users

Product advancement is the key trend gaining popularity in the industrial tube market. Major companies operating in the industrial tubes market are focused on developing technologically advanced products to strengthen their market position. For instance, in July 2021, NobelClad Europe GmbH, a Germany-based metal composite cladding company, launched DetaPipe, a high-performance clad-metal pipe product, developed for use in corrosive, high-temperature, and high-pressure industrial processing environments. A patented manufacturing process is used to combine corrosion-resistant alloys including zirconium and titanium with less expensive base metals such as carbon steel to create DetaPipe. Compared to solid titanium or zirconium pipe, the product offers better performance and fracture toughness. DetaPipe is expected to be used in the processing of monoethylene glycol, a critical component of polyester, as well as other critical chemical compounds such as epichlorohydrin (ECH), melamine, and urea.

The industrial tubes market report table of contents includes: