Metal Pipe & Tube Manufacturing in the US

Through the current period, metal pipe and tube manufacturing revenue has expanded alongside volatile commodity prices and elevated inflation. The pandemic also hindered metal pipe and tube manufacturers, creating contractions in construction and manufacturing markets. Despite these challenges, manu...

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Bibliographic Details
Format:	Market Research
Language:	eng
Subjects:	Alloy steel piping and tubing Carbon steel line pipe and OCTG Carbon steel mechanical tubing Carbon steel pressure tubing Carbon steel, structural Drill pipes and pipe casings Mechanical and structural tube and pipe products Stainless steel tubing Steel pipe products
Online Access:	Request full text
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Summary:	Through the current period, metal pipe and tube manufacturing revenue has expanded alongside volatile commodity prices and elevated inflation. The pandemic also hindered metal pipe and tube manufacturers, creating contractions in construction and manufacturing markets. Despite these challenges, manufacturers reaped strong growth in 2022 as steel prices climbed. Slight declines in revenue in recent years reflect cooling demand and price increases. Metal pipe and tube manufacturing revenue is forecast to rise at a CAGR of 0.2% to $17.1 billion through the end of 2024, including a 0.2% decline during the current year. Industry profit is expected to remain fairly steady despite faltering revenue. Manufacturers benefited from robust growth in the oil and natural gas price index in 2021 and 2022 since oil and natural gas exploration companies are key buyers. Companies have also combated rising import penetration following the pandemic. Many downstream markets have opted for inexpensive generic imports and other substitutes, like plastic and concrete pipes. The US dollar's strength helped support higher exports earlier in the period. The TWI will depreciate through the outlook period, leading to sustainable export growth. Through the current period, sustained demand from other key markets, including waterworks and commercial construction, will continue to drive growth. Even so, oil and natural gas prices will steadily contract as inflation recedes. This trend will hinder demand from the energy market; federal fracking and oil extraction policies will also pose major threats to oil and natural gas buyers. Metal pipe and tube manufacturing revenue is expected to increase at a CAGR of 0.8% to $17.8 billion through the end of 2029.