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Developing countries’ infrastructure needs spur demand for pipes, pipe/hose fittings
- February 5, 2015
- News Release
- Tube and Pipe Production
Global Industry Analysts Inc. (GIA), San Jose, Calif., has released a comprehensive global report on pipes and pipe/hose fittings. According to the report, the global market for these products is projected to reach $320 billion by 2020, driven by the growing focus on infrastructure development in developing countries.
The global market for pipes is influenced by economic dynamics of residential/nonresidential construction, agricultural spending, highway spending, natural gas exploration, and consumer goods manufacture. The market also is expected to receive a boost from expanding oil and natural gas exploration, drilling, and production activities. Demand for high-end seamless pipes is forecast to grow strongly because of the surge in unconventional drilling procedures, such as horizontal drilling.
The robust growth of the energy and petrochemical markets in Asia and the Middle East especially bodes well for manufacturers of steel pipes and tubes, since distribution of oil and natural gas requires steel pipelines. OCTG (oil country tubular goods) and line pipes are expected to witness strong demand in both experimental and developmental drilling projects.
The market is expected to benefit from the development of lead-free pipes as a result of the growing pressure to adopt environmentally friendly products. Ecofriendly pipes are forecast to cannibalize demand for conventional PVC pipes. The green building trend is additionally driving opportunities for ecofriendly pipes and pipe/hose fittings. Construction activity in countries such as India and China is driven by rising GDP, growing population, increasing disposable income, expanding base of middle-class population, availability of capital and natural resources, and rapid urbanization. Growth in infrastructure construction is supported by the government focus on providing connectivity and public distribution networks such as communications, power, water, and sewage.
As stated by the report, the Asia-Pacific region represents the largest and the fastest-growing market worldwide. Growth in the region is led by increased investments in high-pressure, underground transmission lines for oil and gas. Both China and India have been investing significantly in expanding their infrastructure to gain a competitive advantage and support their burgeoning economy and population. These countries are investing actively in Special Economic Zones (SEZ) for encouraging industrial activity, which in turn is driving strong industrial construction activity.
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The Tube and Pipe Journal became the first magazine dedicated to serving the metal tube and pipe industry in 1990. Today, it remains the only North American publication devoted to this industry, and it has become the most trusted source of information for tube and pipe professionals.
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