Steel Pipes Market Size

Steel Pipes Market size was valued at USD 100.84 billion in 2024 and is expected to reach USD 161.72 billion by the end of 2037, expanding at around 3.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of steel pipes is evaluated at USD 103.82 billion. Over the course of the forecast period, an increase in the number of new petrochemical facilities being built globally is anticipated to drive up demand for steel pipes and tubes. In the chemical and petrochemical industries, steel pipes and tubes are used in heat exchangers, pressure tubes, and pipeline systems. Therefore, it is anticipated that rising investment in the building of petrochemical plants will support market expansion. One of the world's top producers of petrol and oil is the United States. The U.S. Energy Information Administration reports that as of December 2021, proven crude oil reserves have climbed by 14.8% year over year to 41.2 billion barrels. The reserves of wet natural gas increased by 32.1% to 625.4 trillion cubic feet. In 2021, the nation's proportion of the world's oil production was approximately 14.5%.

In addition to this, steel pipes are widely used for structural purposes in the building industry. They are employed in the construction of pilings, scaffolding, and frameworks. The growth of the building industry, especially in emerging nations, is expected to fuel demand for steel popes. Urbanization and population growth are expected to have a positive effect on steel pipes market expansion. Moreover, government investments in infrastructure projects such as airports, bridges, and roadways are driving the demand for steel pipes.