Industrial Tubes Market Stand Out As The Biggest Contributor To Global Growth 2020 | Tata Steel, Nippon Steel & Sumitomo Metal Corporation

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Industrial tubes are hollow cylindrical tubes that are made of copper, aluminum, steel, nickel, and others. Various types of industrial tubes are available, which include mechanical tubes, process pipes, hydraulic, and structural tubes. Industrial tubes find its application in chemicals, oil & gas and petrochemicals, energy & power, automotive, and construction sectors.

Market Dynamics:-

Rising growth in the construction sector is expected to drive growth of the industrial tubes market over the forecast period. For instance, according to the Government of U.K., the global construction output is expected to increase from around US$ 8.5 trillion in 2012 to US$ 12 trillion in 2025, exhibiting a CAGR of over 41%.

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Market Outlook:-

Among region, Asia Pacific is expected to be the fastest growing market in the industrial tubes market over the forecast period, owing to increasing investment in oil & gas exploration projects. In oil & gas and petrochemical industry, industrial pipes are used for extraction, transportation, and processing. For instance, according to the India Brand Equity Foundation, oil and gas industry of India is expected to gain US$ 25 billion investment by 2022 due to capacity expansion in the petrochemical & chemical industry and increasing gas exploration projects.

Key Players:-

Key players operating in the industrial tubes market include, Tata Steel, Nippon Steel & Sumitomo Metal Corporation (NSSMC), US Steel, Sandvik AB, Aperam, Vallourec S.A, Tenaris, Tubacex, Benteler, and AK Tube LLC.

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Market Taxonomy:-

On the basis of product type, the global industrial tube market is segmented into:
• Process Pipes
• Structural Tubes
• Mechanical Tubes
• Hydraulic & Instrumentation Tubes
• Heat Exchanger Tubes
• Others

On the basis of material, the global industrial tube market is segmented into:
• Stainless Steel
• Carbon Steel
• Alloy Steel
• Non-steel
• Brass

On the basis of manufacturing process, the global industrial tube market is segmented into:
• Seamless
• Welded

On the basis of end-use industry, the global industrial tube market is segmented into:
• Automotive
• Construction
• Chemical
• Oil & Gas and Petrochemicals

On the basis of region, the global industrial tube market is segmented into:
• Asia Pacific
• North America
• Europe
• South America
• Middle East and Africa

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