MEA & Australia Steel Pipe Market during 2021-2027

1. MEA & Australia Steel Pipe Market By Type, Trend Analysis, Market Share & Forecast, 2020-2027

2. Industry Trends & Forecast Report 2027 The MEA & Australia steel pipe market was USD 29,215.0 million in 2020 which is anticipated to reach the valuation of USD 38,719.4 million by 2027 growing at a CAGR of 4.5%duringthe forecast period. The growth of the MEA & Australia steel pipe market is mostly due to the increased use of seamless pipes in the oil and gas industry, where they perform immaculately at high pressures and temperatures. In the Middle East region, the seamless pipes market is expected to remain dominant due to the new developments taking place in the oil & gas industry and oil & gas drilling.

3. Growth drivers The Booming Oil and Gas Industry in MEA Steel Pipe Market The oil & gas industry is the world's largest industry in terms of revenue. Moreover, the oil & gas industry in MEA is also the world’s largest industry in terms of revenue. Most of the major players in the world have plants in the MEA. MEA's oil and gas industries contribute significantly to the country's GDP (gross domestic product). According to the Organisation of Petroleum Exporting Countries, Saudi Arabia controls approximately 17% of the world's proven petroleum reserves. Approximately 50% of the GDP comes from the oil& gas industry.

4. Restraints The Increasing Price of Stainless Steel Because steel is the most common and prominent material used globally, there are many subcategories of steel that are used globally for various purposes. Steel pipes are mainly influenced by the qualities and characteristics of the materials used to manufacture them. The type of steel to be used for a particular project should be chosen based on quality and cost. The price of stainless steel in the Kingdom of Saudi Arabia can vary from Saudi Riyal 77-770 per meter of stainless-steel pipe prices. Compared to the 5% monthly price increase seen at the end of 2020, the price hike for grade-304 stainless steel has risen by 15% since the beginning of the year, mostly due to increases in alloy surcharges and base prices.

5. Impact of COVID-19 The pandemic has caused the world an unexpected blow, and the death toll continues to rise withthe virus raising its ugly head across the globe.Construction stopped following a spike in infections in the early phases of the pandemic, which lowered the demand for steel pipes in MEA & Australia; however, once the first wave of infections had passed, governments responded by investing heavily in infrastructure to boost their economies. However, lockdowns and curfews were imposed once again, resulting in supply chain disruptions, labor shortages, financial losses, and a temporary negative impact on investments. One of the primary demand drivers for steel pipes is the oil and gas industry, which had to undergo the worst crisis ever, with oil prices plunging to USD 21.04 per barrel during the first wave of COVID-19. 

6. The MEA & Australia Steel Pipe Market- Regional InsightsBased on the regional level, the MEA & Australia steel pipe market is segmented into MEA & Australia. The MEA region held the largest market share in 2020 and is anticipated to continue its supremacy in the coming years as well. Based on countries, the MEA steel pipe market is segmented into Turkey, Egypt, Saudi Arabia, South Africa, and the rest of MEA. Saudi Arabia accounted for the largest market share in 2020, The strong presence of the oil & gas industry in Saudi Arabia is mainly responsible for the high demand for steel pipes in the country. Moreover, the presence of global leaders such as Saudi Aramco, which is mostly state-owned, has accelerated the growth of the steel pipe industry in Saudi Arabia.

7. Competitive Landscape The MEA & Australia steel pipemarket is highly competitive and fragmented and is composed of many large, small, and medium players. The key players dominating the market are ArcelorMittal, Tenaris Saudi Steel Pipes, Al Gharbia Pipe Co., Conares Metal Supply Ltd., Global Pipe Company, SeAH Steel, Steel Mains, TMK, WelspunMiddleEast, Arabian Pipes, National Pipe Company Ltd., Nippon Steel Corporation, JFE Holdings, Inc., Jindal Saw Ltd., Severstal, Vallourec, Evraz,Tata Steel, JSW Steel Limited, andother prominent players. Sample Copy of the Report :https://www.blueweaveconsulting.com/report/mea-and-australia-steel-pipe-market/report-sample

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