New Analysis from Global Industry Analysts Reveals Steady Growth for Continuous Welded Pipes and Tubes, with the Market to Reach 23.8 Million Tons Worldwide by 2026

SAN FRANCISCO, May 31, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Continuous Welded Pipes and Tubes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 18; Released: May 2022
Executive Pool: 766
Companies: 74 - Players covered include 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 and Others.
Coverage: All major geographies and key segments
Segments: Segment (Continuous Welded Pipes and Tubes)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; India; South Korea; Rest of Asia-Pacific; Latin America; Rest of World.

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ABSTRACT-

Amid the COVID-19 crisis, the global market for Continuous Welded Pipes and Tubes estimated at 19.7 Million Tons in the year 2022, is projected to reach a revised size of 23.8 Million Tons by 2026, growing at a CAGR of 4.5% over the analysis period. Growth in the Continuous welded pipe (CW) 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. Some of the recent product advancements include development of pipes with uniform grain structure and smooth surface that causes less wear and tear. Efforts also include the use of superior coating technology to prevent corrosion, extend shelf life and enhance quality. Asia-Pacific represents the largest market worldwide is bound to present lucrative growth opportunities to pipe makers as a result of rapid industrialization along with investment in infrastructure development projects. Growth in the long term is led by 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.

Rising need to upgrade existing water infrastructure is opening new opportunities for growth in the market. Water infrastructure development is an area of huge potential given the rapidly expanding population, shrinking water reserves, and relatively lower levels of investment in water infrastructure development in the recent past. Significant investments are needed for upgrading or repairing existing drinking water systems, as most of the pipeline systems are nearing their end of useful life. This is expected to boost demand for high-pressure large diameter steel pipes and tubes. Potential also lies in water transmission sector, which requires products such as in-plant pipelines systems and structural piling products. The need to upgrade existing infrastructure is also necessitated by the adoption of stringent regulations.

Demand is expected to increase further by the increasing distance between consumers and sources of potable water leading to the need for additional pipeline infrastructure for transmission and distribution. The trend is expected to be additionally supported by rapid pace of urbanization in developing countries which continues to exert pressure on water availability in cities, since strong urban concentration triggers increase in water consumption in specific areas and locations well beyond the capacity of available water tables. A key factor responsible for increased urbanization include the continuous shifting of opportunities from agricultural to industrial/tertiary sectors (which in turn fuels rural-urban migration), and superior healthcare and public infrastructure as compared to the rural areas. Growth in urban sprawl has resulted in creating wide demand-supply imbalances, thus in process severely stressing out urban water distribution and reprocessing infrastructure. In fact in developing countries, accessibility to better potable water supplies only increased marginally by about 2% over the last decade, owing to the meteoric rise in urban population levels. The scenario is expected to promote demand for pipes, employed in public infrastructure applications including sewage and storm drain projects.

In developed countries, existing infrastructure is being renewed and modernized, whereas developing countries are installing new infrastructure and related services. Local water infrastructure in the US faces a pressing need for investments for modernization of operations, addressing deferred maintenance and achieving climate resilience. The national water infrastructure requires a sizeable investment of $743 billion over the next 20 years in water & wastewater infrastructure for conforming to existing health and environmental standards. On the other side, revenue shortfall attributed to COVID-19 has complicated the situation and coerced various water utilities to reduce or delay the investment. Some of the companies suspended or delayed capital construction, while other are planning to reduce spending on repair and maintenance schedules, which is poised to create a notable backlog.

In early-2022, the US Environmental Protection Agency (EPA) released a memorandum for guiding collaborative implementation with states, territories, and tribal partners of US$50 billion funding for improving the country's water supply infrastructure through the Bipartisan Infrastructure Law. The majority of these funds would flow through the Clean Water and Drinking Water State Revolving Funds. Apart from strengthening the country's drinking water and wastewater infrastructure, the investment is also expected to create new job opportunities in the future. This investment in the water infrastructure is a major step towards improving the country's water system that is currently at an unprecedented level. Around 14-18% of the overall daily treated potable water within the US is lost due to leaks, with certain water systems even reporting water losses of more than 60%. Most of the US water infrastructure was developed in the 1970s-1980s, after which capital investment from the federal government has steadily declined. Most of the responsibility for capital funding now lies with local and state governments.

The investment under the Bipartisan Infrastructure Law is one of the largest ever made by the federal government and would help in replacing aging infrastructure for continuously providing reliable and safe service. However, water systems are also grappling with certain problems that they have not experienced before, such as emerging challenges related to water safety and the requirement for preparing for climate resiliency, addressing water scarcity, and deploying novel technology for delivering affordable and effective service. The average age of pipes used in the water network in the US is 45 years, with certain cast iron pipes being even over a century old, often resulting in leaks and breakages that lead to high water losses. The US EPA has projected the rate of water-pipe replacements to increase to 16,000-20,000 miles per year by 2035 from the current rate of 4,000-5,000 miles, bolstering the market for continuous welded pipes. In addition, in recent years, several regulatory requirements have been enforced on utilities with the aim of improving water safety. These long-standing regulatory requirements are likely to drive significant capital spending by utilities, which in turn would further propel demand for continuous welded pipes. Moreover, the recent increase in the intensity and frequency of adverse weather events, such as floods and droughts, have brought forwards the urgent requirement for having a robust emergency-response plan to ensure continuous availability of drinking water to the affected people. Investment in water conservation, water recycling, and desalination is likely to increase over the next few years, thereby fueling growth in the continuous welded pipes market. More

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