- Seamless stainless steel products are products without seams. These products are generally manufactured by adopting the hot for Seamless Stainless Steel Product
- rming process through either extrusion or drawing. Seamless steel products are primarily factory-made using hot working steel.
- Seamless stainless steel products provide multiple advantages, which have contributed to the rising demand for these products. Improved ability to sustain high pressures is one of the distinct advantages of seamless stainless steel products. In case of welded products, the welded joint is the weakest point for sustaining pressure. This reduces the pressure resistance capability of products. It is much simpler to calculate pressure ratings without the need for considering the quality of the weld in case of seamless stainless steel products.
- Seamless stainless steel products are comparatively thinner and lighter than welded products. This results in reduced cost. Thus, seamless stainless steel products are cost effective.
- Seamless stainless steel products possess a perfectly round cross-section, which makes installation and addition of fittings much simpler as they are manufactured through the uninterrupted extrusion process
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Key Drivers of Global Seamless Stainless Steel Products Market
- Demand for seamless stainless steel products has been increasing owing to the rise in urbanization and industrialization across the globe. Advantages of seamless stainless steel products over welded products are also likely to boost the seamless stainless steel products market in the next few years.
- Growth in oil & gas exploration activities and food & beverage sector is anticipated to increase the demand for seamless stainless steel products during the forecast period. However, high cost of seamless stainless steel products is estimated to hamper the market in the near future.
North America Expected to Hold Major Share of Global Seamless Stainless Steel Products Market
- Based on region, the global seamless stainless steel products market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global seamless stainless steel products market in 2019, owing the expansion of the oil & gas industry in the region. The region comprises various shale gas reserves. As a result, large numbers of upstream companies are carrying out exploration and refining activities in North America.
- Europe also held vital share of the global seamless stainless steel products market in 2019. The market in the region is anticipated to expand at a moderate pace in the near future. Countries in Europe such as Russia, Norway, the U.K., and those in CIS are among the major producers of oil & gas in the region.
- Asia Pacific is anticipated to be a highly attractive region of the global seamless stainless steel products market during the forecast period. The region is investing significantly in the development of the industrial sector, especially in countries such as China, India, and Japan. Investments in automobile and oil& gas sectors are also rising in Asia Pacific.
- The market in Middle East & Africa is estimated to expand at healthy pace during the forecast period. The region is developing its industrial sector and also has well-established installed base of the oil & gas sector. This is likely to boost the demand for seamless stainless steel products in Middle East & Africa.
- The market in Latin America is likely to expand at a sluggish pace during the forecast period
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Key Players Operating in Market
Leading players operating in the global seamless stainless steel products market include:
- Sandvik AB
- ArcelorMittal S.A.
- D.P. Jindal Group
- American Piping Products Inc.
- U.S. Steel Tubular Products.
- Maxim Tubes Company Pvt. Ltd.
- Nippon Steel & Sumitomo Metal Corporation
- Ferrostaal Piping Supply GmbH
- Penn Stainless TOS
- Michigan Seamless Tube, LLC.
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