Steel Pipes Market Outlook:
Steel Pipes Market size was valued at USD 168.32 billion in 2025 and is likely to cross USD 315.96 billion by 2035, expanding at more than 6.5% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of steel pipes is assessed at USD 178.17 billion.
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, 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 will fuel the steel pipes market revenue. Urbanization and population growth are expected to have a positive effect on the market expansion. Moreover, government investments in infrastructure projects such as airports, bridges, and roadways are driving the demand for steel pipes.
