“U.S. Steel Tubing Market Outlook: Industry Demand Analysis & Opportunity Assessment 2017–2025”
The demand for steel tubing is increasing in U.S. as steel is cost effective in comparison to other materials and offers long-term durability which lowers the replacement and improves the insurance costs. Along with that, steel is 100% recyclable and has low impact rate on the environment which is further expected to increase the growth of the steel tubing market over the forecast period in the U.S. region. The other major factors responsible for the increasing usage of steel tubing are designing flexibility, durability, quality and low corrosion combined with better efficiency.
Additionally, rising construction activities are expected to positively impact the growth of the U.S. steel tubing market with significant market valuation of USD 7,018.9 Million by the end of 2025 from USD 5,596.0 Million in 2017 by expanding at a CAGR of 3.0% over the forecast period 2018-2025. Further, the market of U.S. steel tubing is anticipated to achieve a Y-o-Y growth rate of 4.1% in 2025.
The U.S. Steel Tubing Market is segmented by diameter into 60-120 mm, 121-180 mm and 181-245 mm, out of which, the 60-120 mm segment dominated the U.S. steel tubing market with the market share of around 40.1% during 2017 and is expected to behold its positive growth by expanding at a CAGR of 3.5% over the forecast period. Further, the 121-180 mm segment is expected to hold second largest market in U.S. and is further predicted to achieve Y-o-Y growth rate of 3.6% in 2025.
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Factors behind the Escalation in the Demand for Steel Tubing in Future
The U.S. steel tubing market is thriving on the back of the enormous benefits of steel such as its contribution in lower CO2 emissions and being 100% recyclable.
Increasing Usage of Steel Tubing – Increasing usage of steel tubing owing to the factors such as durability and quality, designing flexibility and low corrosion rate are expected to positively drive the market over the forecast period.
Cost Efficiency – Lower costs per pound of steel tubing over other alternatives make steel tubing a preferable choice to the manufacturers of various industries which is estimated to propel the steel tubing market.
Low Impact Rate on the Environment – Increasing initiatives by various governments for environmental sustainability are expected to increase the growth rate of the steel tubing market.
Industry Players’ are Progressing towards Minimizing the Barriers faced by the U.S. Steel Tubing Market
Steel has very small resistance against fire as compared to concrete. Steel is incombustible material, however its strength is reduced tremendously at high temperatures due to common fires which increases the fireproofing costs associated with the use of steel tubing. These factors are predicted to hamper the growth of the U.S. Steel Tubing Market.
High Maintenance Cost – Steel structures are susceptible to corrosion when exposed to air, water and humidity for which they require periodical painting. The manufacturing or repairing processes are labor intensive that directly increase the overall cost which is predicted to limit the market growth of steel tubing in U.S.
Availability of Other Alternatives – The reason for reduced adoption of steel tubing is expected to be the presence of alternatives which might not be as durable and flexible as steel tubing but might be comparatively cheaper.
The report titled “U.S. Steel Tubing Market Outlook: Industry Demand Analysis & Opportunity Assessment 2017–2025” delivers detailed overview of the U.S. steel tubing market in terms of market segmentation by type, by diameter, by coating type and by coating usage.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the U.S. steel tubing market which includes company profiling of U.S. Steel Tubular Products, ArcelorMittal, POSCO, Nucor Corporation, Nippon Steel & Sumitomo Metal Corporation, Zekelman Industries, TMK-Group, Victory Steel and Eagle Tubular Products.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the U.S. steel tubing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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