The U.S. steel tubing market is thriving on the back of the enormous benefits of steel such as its contribution in lower CO2 emissions and being 100% recyclable along with rising construction activities owing to steel’s designing flexibility, durability, quality and low corrosion. The demand for steel tubing in the U.S. is increasing as steel is cost effective and offers long term durability which lowers the replacement and improves the insurance costs.
The U.S. steel tubing market accounted for USD 5,596.0 Million in 2017 and is estimated to reach noteworthy market valuation of USD 7,018.9 Million by the end of 2025 by expanding at a CAGR of 3.0% over the forecast period 2018-2025.
In terms of market segmentation, the U.S. steel tubing market is divided by coating type into fusion bonded epoxy coating and non-coated and other coating types, out of which, the non-coated and other coated type segment dominated the U.S. steel tubing market by holding more than 65% of the total market share in 2016 and is predicted to grow with positive growth over the forecast period. Further, the fusion bonded epoxy coating segment is estimated to supplement the growth of the U.S. steel tubing market by expanding at a highest CAGR of 4.3% over the forecast period.
The U.S. steel tubing market is further segmented by type into seamless steel pipe and welded steel pipe. Among these segments, the welded steel pipe segment is estimated to grow significantly with the highest CAGR over the forecast period owing to the increasing development of the oil & gas industries in the country. Further, the seamless steel pipe segment is estimated to dominate the market on the back of rising demand for seamless steel pipes in various hydro power plants and desalination plants.
The Report titled “U.S. Steel Tubing Market Outlook: Industry Demand Analysis & Opportunity Assessment 2017–2025” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
This report also studies existing competitive scenario of some of the key players of the U.S. steel tubing market which includes profiling of U.S. Steel Tubular Products, ArcelorMittal, POSCO, Nucor Corporation, Nippon Steel & Sumitomo Metal Corporation, Zekelman Industries, TMK-Group, Victory Steel and Eagle Tubular Products.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “U.S. Steel Tubing Market Outlook 2025”, analyses the overall steel tubing industry in U.S. to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the U.S. steel tubing market market in the near future.