Global pipes, tubes market to hit 113.8M tonnes by 2018

Global market for seamless pipes and tubes is projected to reach 113.8 million tonnes by 2018, with demand growth mirroring the dynamics of the energy sector and gains led by the rise in rig count and increasing prices of oil and gas, particularly in North America, the Middle East and Latin America, reports Global Industry Analysts Inc.

The worldwide demand for steel pipes and tubes is closely intertwined with the trends in the oil and gas and construction sectors. Prevailing economic conditions, thus, play a key role in determining the pace and extent of demand for steel pipes and tubes.

Increased activity in various end-use sectors such as oil and gas, power, and refineries, and resurgent growth in automobile sector is expected to fuel demand for steel pipes and tubes in the region. In the Middle East, strong economic growth particularly in countries such as Saudi Arabia and UAE, rising oil prices and the increasing rig count are contributing to the enhanced demand for seamless pipes and tubes. In the near future, the region is expected to witness intensified demand for line pipes of smaller diameters, in view of the growth in refining operations.