With Market Size Valued at $6.3 Billion by 2026, it`s a Healthy Outlook for the Global Helical Submerged Arc Welded (HSAW) Pipes Market

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May 31, 2022, 09:05 ET

SAN FRANCISCO , May 31, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Helical Submerged Arc Welded (HSAW) Pipes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
What's New for 2022?

With Market Size Valued at $6.3 Billion by 2026, it`s a Healthy Outlook for the Global Helical Submerged Arc Welded (HSAW) Pipes Market

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Edition: 20; Released: May 2022
Executive Pool: 536
Companies: 84 - Players covered include American Cast Iron Pipe Company; ArcelorMittal SA; Borusan Mannesmann Boru Sanayi ve Ticaret A.S.; Europipe GmbH; EVRAZ North America; JFE Steel Corporation; Jindal SAW Ltd.; Jindal Tubular USA LLC; Kuwait Pipe Industries and Oil Services Company (KSC); Liaoyang Steel Tube Co., Ltd.; Man Industries Ltd.; National Pipe Company Ltd.; Nippon Steel & Sumitomo Metal Corporation; Northwest Pipe Company; PAO TMK Group; PSL Limited; Shengli Oil & Gas Pipe Holdings Limited; Stupp Corporation; Welspun Corp Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Outer Diameter (18-24 Inches, 24-48 Inches, Over 48 Inches); End-Use (Oil & Gas, Water, Construction, Chemical, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Turkey; Rest of Europe; Asia-Pacific; India; South Korea; Rest of Asia-Pacific; Latin America; Middle East; Saudi Arabia; Rest of Middle East; Africa.

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ABSTRACT-

Amid the COVID-19 crisis, the global market for Helical Submerged Arc Welded (HSAW) Pipes estimated at US$5.5 Billion in the year 2022, is projected to reach a revised size of US$6.3 Billion by 2026, growing at a CAGR of 2.9% over the analysis period. 18-24 Inches, one of the segments analyzed in the report, is projected to grow at a 2.5% CAGR, while growth in the 24-48 Inches segment is readjusted to a revised 3.2% CAGR. HR coils and plates are the are the key raw materials used in the production of SAW pipes. HR coils/plates account for about 85-90% share of the raw material cost. With prices of HR coils/plates escalating, the cost of manufacturing pipes also registered an increase. Hot rolled coil and cold rolled coil prices continued to increase in 2021 1st half led by increased demand and high input prices, particularly in China.

The ongoing conflict between Ukraine and Russia is bound to influence global trade and demand for steel as both countries represent major exporters of steel-related products. The problem holds specific concerns for industries and countries that have been already struggling with related risk factors, including microchip shortages, slowdown in China and escalating natural resources and energy prices. The Russia-Ukraine war has exacerbated these risks and is anticipated to hold major implications for steel demand. Considering strong positions of Russia and Ukraine in the global steel market, the conflict is bound to impact steel trade. Steel prices are anticipated to continue moving upwards due to strong demand indicators coupled with the impact of ongoing conflict on the supply chain. Prices of steel have already scaled heights and are continuously moving up following the conflict. The Russia-Ukraine war is affecting flow of various raw materials along with finished goods. These factors along with robust steel demand are expected to increase prices. The conflict is also affecting local production of steel as majority of facilities in Ukraine have suspending manufacturing operations owing to safety issues. Resumption of operations would require companies to not only ensure safety, but also secure coking coal supplies. Steel is expected to be also affected by logistics challenges as rising energy prices and port-related issues are leading to high freight rates.

The market is also significantly impacted by the global oil & gas pipeline scenario. North America and Asia-Pacific regions presently dominate the global oil and gas pipeline buildout. The North American market is being driven by the need to transport the gas produced at Permian filed in west Texas and south New Mexico to consumption and export centers. On the other hand, the Asian market is being driven primarily by infrastructure investments in China and India to connect production centers with consumption centers as well as transportation of natural gas from LNG import terminals to consumption centers. Asia-Pacific region accounts for over two-fifths of planned and under construction pipelines for natural gas, while North America accounts for nearly 40% of planned and under construction pipelines for oil. The US is one of the leading regions in terms of pipeline investments. Investments in the US are being driven by the buildup of export infrastructure to importing centers in Asia and Europe. The proposed pipeline infrastructure to support exports would have propelled the US as the leading exporters of fossil fuels in the near future.

However, the pandemic resulted in significant reduction of gas prices, casting a shadow on the viability of existing as well as planned projects. Increased environmental activism is also affecting new pipeline investments in the US as new pipelines are facing increasing scrutiny from regulators and opposition from activists. Even legal hurdles are increasing as the Third Circuit Court of Appeals over ruled a FERC (Federal Energy Regulatory Commission) order, nullifying the permission for an interstate PennEast pipeline between Pennsylvania and New Jersey. With the new Biden administration increasingly gravitating towards clean energy, prospects for oil and gas pipelines seem to be decreasing significantly. Canada has long been a net exporter of energy. However, Canadian production is mostly concentrated in the north and requires significant investments to bring the produced oil and gas from production centers to consumption centers and export centers. Canadian pipelines are also facing increasing environmental oversight with even under construction projects facing regulatory reversals. For instance, the Coastal Gaslink pipeline project witnessed a "cease and remedy" order from the BCEAO (British Columbia's Environmental Assessment Office) over concerns that the under construction pipeline violated existing norms and passed very near to ecologically sensitive wetlands. As such, increasing environmental concerns are posing significant risks for construction of new pipelines in Canada, despite the country being significantly dependent on energy exports.

Mexican oil and gas pipeline buildout mostly veers towards connecting the Mexican network with production centers in Texas over the international border. The Villa de ReyesAguascalientes-Guadalajara pipeline was commissioned in mid-2020 smoothly since the pipeline was categorized as inter-state within the US and outside of the purview of the US EPA, with only the section crossing the Rio Grade river being under the purview of the EPA. Argentina is home to the second largest shale gas reserves in the world after the US. The Argentinean government is presently in the process of finalizing a 2,055-kilometer pipeline linking Argentina and Brazil. Peru is in the process of reviving a 1,050-kilometer pipeline to supply gas to southern Peru through the Southern gas pipeline at an estimated cost of about US$4.5 billion. Colombia also plans to build a new 110-kilometer Buenaventura-Yumbo gas pipeline for transporting natural gas from the Pacific LNG Terminal to Yunbo. The country is also exploring environmental feasibility of building a new pipeline to link the production in Jobo gas fields with consumption centers. Europe is presently a paradox, with strong political support for a zero-carbon economy by 2050, including an interim goal of reducing 1990 carbon emissions by 55% through 2030; while extensive pipeline infrastructure and is being built. For instance, Europe plans to add about 12,843 kilometers of pipeline and also plans to increase LNG capacity by more than half at a cost of about €64 billion. Moreover, about €25 billion of the funding is set to be realized from EU subsidies. As per EU goals, gas consumption needs to be reduced by 30% by 2030 and by 90% by 2050 to achieve zero-carbon targets. On the other hand, the pipelines planned would increase the capacity in the region. Germany, the major economy in the EU, is on target of completing a pipeline to import gas from Russia, facing stiff opposition from environmental activists and public. Thus, Europe continues to be an enigma supporting reduction of fossil fuel consumption, while increasing investments in building capacity for the same. More

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