#Steel Tubes Market Growth Report

[rahulimarc]

Steel Tubes Market Growth

Big News in Sustainability & Agriculture! The global packaged wastewater treatment market reached USD21.8B in 2024, and the commercial greenhouse market skyrocketed to USD38.2B! By 2033, the greenhouse market is set to hit $84.1B with a growth rate of 8.21% CAGR.

[global-research-report]

Specialty Polyamides: Unlocking Opportunities in Advanced Materials

The global specialty polyamides market size is expected to reach USD 4.31 billion by 2030, registering a CAGR of 7.0% during the forecast period, according to a new report by Grand View Research, Inc. Rising concerns regarding automotive fuel efficiency and favorable government regulations regarding the use of polyamides in the automotive, textile, and consumer goods industries are expected to drive the global market over the forecast period. With the increasing focus on green technologies and sustainability, the use of specialty polyamide in the automotive industry is expected to increase over the forecast period.

Globalization, coupled with an increase in consumer disposable income, is projected to drive the global automotive sector, which is further expected to augment market growth. Moreover, the high strength-to-weight ratio of the product has made it popular in other transportation industries, such as aerospace & defense. It is majorly used in the components of military aircraft and helicopters to reduce their overall weight to a large extent. Based on the product segment, high-temperature polyamide demand is anticipated to advance at a significant growth rate over the forecast period. Long-chain specialty polyamides are traditionally used to produce monofilaments, which are further used in a broad range of high chemical resistance and good dimensional stability applications.

Some of the key applications of long-chain specialty polyamides include cooler hoses, fuel lines, transmission oil, corrugated tubes, sensors & solenoids, oil & gas transportation, hand-held devices, and hydraulic applications. The electrical & electronics application segment is projected to witness substantial growth during the forecast period. Polyamides are used in display technologies, home electronics, mobile electronics, smart devices, and electrical components. Electronic devices and assemblies are getting smaller and hence, dissipate high amounts of heat. In addition, the demand for thermally conductive plastics for household applications has risen sharply in recent years.

This trend is expected to continue driving product demand over the coming years. Specialty polyamide filled with electrically conductive materials provides resistance to Electrostatic Discharge (ESD), Electromagnetic Interference (EMI), and Radio-frequency Interference (RFI) shielding in electronic equipment, as well as for conveyor systems and trays used to manufacture semiconductor chips. Common fillers in this application include carbon powder, carbon fiber, stainless steel fiber, and nickel-coated carbon fiber. Other application areas include wiring & associated devices, batteries, switches, industrial connectors, and mobile parts.

Specialty Polyamides Market Report Highlights

Asia-Pacific is estimated to record the fastest growth rate during the forecast period. India is the fastest-growing country in the Asia Pacific region on account of the growing automotive industry

The long-chain specialty polyamides product segment is potentially fueling the industry growth owing to its rising demand in various end-use industries

Various strategic initiatives were recorded over the past few years that have supported industry growth

For instance, in November 2021, BASF SE launched an R&D center in Ansan, South Korea’s Engineering Plastics Innovation Center

The new building houses the integrated R&D team and capabilities of Solvay’s polyamide business, other new capabilities, and the Consumer Electronics Competence Center

In South Korea, its R&D capabilities include reinforcement materials, technical skills, innovations, and parts testing services

Moreover, materials testing, including polyoxymethylene, polyamide, and polybutylene terephthalate can be conducted in South Korea

Specialty Polyamides Market Segmentation

Grand View Research has segmented the global specialty polyamides market based on product, end-use, and region:

Specialty Polyamides Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030­)

Long Chain Specialty Polyamide

High Temperature Specialty Polyamide

MXD6/PARA

Specialty Polyamides End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Automotive & Transportation

Electrical & Electronics

Consumer Goods & Retail

Energy

Industrial Coatings

Others

Specialty Polyamides Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Mexico

Europe

Germany

France

Netherlands

Italy

Poland

Spain

Asia Pacific

China

India

Japan

Hong Kong

Taiwan

Thailand

South Korea

Central & South America

Middle East & Africa

Order a free sample PDF of the Specialty Polyamides Market Intelligence Study, published by Grand View Research.

[forblogmostly]

Hi-Tech Pipes Limited Secures Credit Rating Upgrade: A Testament to Excellence

Hi-Tech Pipes Limited, a leading name in India’s steel processing and manufacturing industry, has proudly announced a significant milestone—a credit rating upgrade from India Ratings & Research, a Fitch Group Company. This remarkable development marks yet another chapter in the company’s legacy of innovation, growth, and financial robustness.

The rating upgrade reflects Hi-Tech Pipes’ strengthened position in the steel tubes and pipes sector, driven by sustained revenue growth, operational efficiency, and strategic capacity expansion. India Ratings has upgraded the company’s Fund-Based Working Capital Limit to IND A+/Stable and its Non-Fund Based Working Capital Limit to IND A1+.

This achievement underscores Hi-Tech Pipes’ ability to navigate the dynamic challenges of the steel industry while continuing to build on its core competencies and expand its footprint in diverse markets.

A Journey of Growth and Excellence Hi-Tech Pipes has consistently showcased its commitment to operational excellence. The first half of FY2025 (1HFY25) has been particularly notable, with the company recording a 33% year-on-year growth in sales volume. This surge can be attributed to the successful commercialization of its greenfield project in Sanand, Gujarat, which became operational in March 2024.

The Sanand facility, equipped with an initial capacity of 175,000 tonnes per annum, has emerged as a cornerstone of Hi-Tech Pipes’ strategy to diversify its product portfolio. The second phase of this facility, expected to add an additional 110,000 TPA, is poised to further enhance the company’s capacity to manufacture large-diameter pipes and other high-value products.

Additionally, Hi-Tech Pipes is developing a new greenfield facility in Sikandrabad, Uttar Pradesh, with a projected capacity of 150,000 TPA, set to commence operations by the end of FY2025. These strategic investments are anticipated to drive robust growth in revenue and sales volumes over the medium term.

Strength in Profitability and Innovation Hi-Tech Pipes’ focus on value-added products and cost efficiency has translated into improved profitability. In 1HFY25, the company reported an increase in EBITDA per tonne to ₹3,462, compared to ₹2,937 in FY2024. This growth is attributed to a rising share of high-margin products, such as solar torque tubes, color-coated sheets, and galvanized pipes.

The company’s proactive measures, such as securing fixed-price orders amidst fluctuating steel prices, have also played a pivotal role in stabilizing margins. Hi-Tech Pipes further demonstrated its commitment to sustainability by increasing its captive solar power capacity to 13.5 MW and initiating green hydrogen projects. These initiatives not only enhance operational efficiency but also align with global sustainability goals.

A Diverse Portfolio with Broad Market Reach Hi-Tech Pipes boasts a well-diversified product portfolio, spanning steel tubes and pipes, galvanized sheets, cold-rolled products, and more. This diversification reduces industry-specific risks and strengthens the company’s resilience. In 1HFY25, pipes accounted for 58% of revenue, while other segments like color-coated sheets and cold-rolled products contributed significantly.

With over 500 dealers and distributors across India, the company’s expansive network ensures widespread market reach. Furthermore, a low customer concentration ratio, with the top 10 customers contributing only 24% of revenue in FY2024, underscores Hi-Tech Pipes’ robust and balanced customer base.

Leadership Perspective Ajay Kumar Bansal, Chairman of Hi-Tech Pipes Limited, expressed his pride in the rating upgrade, attributing it to the company’s strong financial management and operational capabilities. He emphasized the importance of this milestone in solidifying Hi-Tech Pipes’ position as a leader in the steel industry and reaffirmed the company’s commitment to delivering value to its stakeholders.

About Hi-Tech Pipes Limited With nearly four decades of expertise, Hi-Tech Pipes Limited has emerged as a leader in steel processing, offering innovative and world-class products. Operating six state-of-the-art facilities across India, the company is on track to achieve an installed capacity of one million tonnes by FY2025. Its product range includes steel pipes, hollow sections, solar mounting structures, and galvanized coils, catering to diverse industries and markets.

[energyandpowertrends]

Caps & Closures Market: Technological Advancements in Flip-Top and Screw Closures

The Caps & Closures Market plays a crucial role in packaging solutions for multiple industries, including food, beverages, pharmaceuticals, and cosmetics. With the growing demand for sustainable and user-friendly packaging, this market is evolving rapidly with innovations in materials and designs.

Read Complete Report Details of Caps & Closures Market: https://www.snsinsider.com/reports/caps-and-closures-market-2831

Market Segmentation

By Raw Material

Plastic

Types: Polypropylene (PP), Polyethylene (PE), Polystyrene (PS), Polyethylene Terephthalate (PET).

Growth Drivers: Lightweight, cost-effectiveness, and wide applicability.

Trends: Increasing adoption of recyclable and biodegradable plastics.

Metal

Types: Aluminum, Steel, Tin.

Growth Drivers: Demand for premium packaging in beverages and pharmaceuticals.

Trends: Development of rust-resistant and resealable metal caps.

Others

Description: Includes glass, rubber, and composite materials.

Growth Drivers: Niche applications in high-end cosmetic packaging.

Trends: Use of hybrid materials for functional and aesthetic appeal.

By Product Type

Roll-On Balls

Description: Used primarily in deodorants, roll-on perfumes, and medicinal applications.

Growth Drivers: Demand for precision and convenience in dispensing.

Trends: Customization and eco-friendly alternatives to plastic balls.

Plastic Caps

Description: Includes screw caps, flip tops, and snap closures.

Growth Drivers: High demand from the food & beverage industry for lightweight and resealable options.

Trends: Integration of tamper-evident and child-resistant features.

Closures

Description: Used to seal containers like bottles, jars, and tubes.

Growth Drivers: Growth in packaged consumer goods and beverages.

Trends: Development of resealable and spill-proof closures.

Other Caps

Description: Specialty caps such as dispensing caps, droppers, and threaded closures.

Growth Drivers: Rising demand from personal care and healthcare segments.

Trends: Use of smart caps with embedded sensors for product freshness monitoring.

By End Use

Food

Description: Caps and closures for jars, cans, and containers for sauces, spreads, and condiments.

Growth Drivers: Increasing consumption of ready-to-eat and packaged foods.

Trends: Use of vacuum-sealed caps for extended shelf life.

Pharmaceutical

Description: Closures for medicine bottles, syrups, and tablet containers.

Growth Drivers: Growing healthcare infrastructure and demand for secure packaging.

Trends: Adoption of tamper-evident and child-proof caps.

Cosmetics

Description: Caps for creams, lotions, and makeup products.

Growth Drivers: Rising demand for premium and personalized cosmetics packaging.

Trends: Use of aesthetically pleasing closures made from metal and glass.

Beverage

Description: Includes closures for bottled water, juices, and alcoholic beverages.

Growth Drivers: Growth in the consumption of beverages, especially functional drinks.

Trends: Lightweight and resealable caps for on-the-go convenience.

Automotive

Description: Used for containers of lubricants and automotive fluids.

Growth Drivers: Expansion in the automotive industry.

Trends: Development of leak-proof and durable caps.

Packaged Water Bottles

Description: Closures for PET bottles and reusable water containers.

Growth Drivers: Increasing demand for bottled water in urban areas.

Trends: Shift to biodegradable and recyclable cap materials.

Others

Description: Includes closures for industrial, chemical, and household products.

Trends: Use of multi-layered caps for improved sealing performance.

By Region

North America

Growth Drivers: High demand for convenience packaging and innovation in smart caps.

Trends: Focus on reducing plastic waste through recyclable materials.

Europe

Growth Drivers: Regulatory push for sustainable packaging and high adoption in beverages.

Trends: Use of bio-based materials in caps and closures.

Asia-Pacific

Growth Drivers: Rising consumption of packaged foods and beverages due to urbanization.

Trends: Increasing investment in manufacturing facilities for eco-friendly closures.

Latin America

Growth Drivers: Expansion in the food & beverage and personal care sectors.

Trends: Shift to lightweight caps for cost optimization.

Middle East & Africa

Growth Drivers: Growth in the pharmaceutical and bottled water industries.

Trends: Development of durable and tamper-proof closures for extreme conditions.

Market Trends and Opportunities

Sustainability: Rising demand for biodegradable and recyclable materials in caps and closures.

Customization: Increasing consumer preference for aesthetic and functional designs.

Smart Packaging: Growing adoption of caps with NFC or RFID technology for authentication and freshness tracking.

Innovation: Development of lightweight, resealable, and spill-proof designs.

Regulatory Compliance: Manufacturers focusing on food safety and tamper-proofing requirements.

Market Outlook

The Caps & Closures Market is poised for steady growth, driven by demand across diverse industries such as food, beverages, and pharmaceuticals. The transition towards sustainable and user-centric packaging solutions will define future trends, with Asia-Pacific expected to dominate in terms of production and consumption.

About Us:

SNS Insider is a global leader in market research and consulting, shaping the future of the industry. Our mission is to empower clients with the insights they need to thrive in dynamic environments. Utilizing advanced methodologies such as surveys, video interviews, and focus groups, we provide up-to-date, accurate market intelligence and consumer insights, ensuring you make confident, informed decisions.

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Akash Anand – Head of Business Development & Strategy

info@snsinsider.com

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[blueweave8]

Saudi Arabia Steel Pipes and Steel Tubes Market Trends, Insight, Forecast 2023-2030

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia Steel Pipes and Steel Tubes Market size by value at USD 435.90 million in 2023.During the forecast period between 2024 and 2030, BlueWeave expects Saudi Arabia Steel Pipes and Steel Tubes Market size to expand at a CAGR of 5.11% reaching a value of USD 587.12million by 2030. Saudi Arabia Steel Pipes and Steel Tubes Market is driven by expanding construction, oil & gas, and petrochemical sectors due to rising infrastructure projects and energy demand. Increasing investments in desalination and water distribution infrastructure boost the demand for steel pipes. Additionally, government initiatives like Vision 2030, emphasizing industrial diversification and local manufacturing, support market growth. Rising urbanization, population growth, and demand for durable materials in diverse applications could further fuel the growth of Saudi Arabia Steel Pipes and Steel Tubes.

Sample: https://www.blueweaveconsulting.com/report/saudi-arabia-steel-pipes-and-steel-tubes-market/report-sample

Opportunity – Demand from Large Infrastructure Development Projects

The growth of Saudi Arabia Steel Pipes and Tubes Market is propelled by a surge in construction and infrastructure projects under Vision 2030. Mega-projects like NEOM and the Red Sea Project are driving the demand for steel materials, including pipes and tubes, essential for utilities, transportation, and structural frameworks. Additionally, increasing investments in the oil & gas sector are fueling pipeline installations, further boosting the expansion of Saudi Arabia Steel Pipes and Steel Tubes Market.

Impact of Escalating Geopolitical Tensions on Saudi Arabia Steel Pipes and Steel Tubes Market

Escalating geopolitical tensions could impact Saudi Arabia Steel Pipes and Steel Tubes Market by increasing uncertainties in supply chains, especially for raw materials like iron ore. Rising energy costs and potential trade restrictions add to production expenses, potentially affecting export competitiveness. Additionally, heightened security concerns may lead to fluctuating demand in the oil and gas sector, which are key consumers of steel pipes and tubes in Saudi Arabia. These factors drive both market volatility and a push toward localizing production for resilience.

Oil & Gas Application Segment Holds Largest Market Share

The oil & gas sector is the largest application segment in Saudi Arabia Steel Pipes and Steel Tubes Market. The segment’s dominance is driven by the country's extensive oil and gas industry, which requires a substantial volume of steel pipes and tubes for exploration, drilling, and transportation infrastructure. The demand is further amplified by Saudi Arabia's ongoing efforts to expand its oil and gas production capacities. Additionally, government-backed initiatives and investments in energy infrastructure contribute significantly to the segment’s growth, cementing its position as the key consumer within the steel pipes and tubes market in Saudi Arabia

Competitive Landscape

Saudi Arabia Steel Pipes and Steel Tubes Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Saudi Steel Pipe Bending Factory, Alazzaz Steel and Pipes, Al-Jazera Factories for Steel Products (JASCO), Tirox Steel Pipes and Tubes, Alkafaa Limited Company, Gulf Pipe Supply and Services, Tenaris Saudi Arabia, Santok Steel Corporation, Al Ashrak Group, Victor Steel Corporation, and Metline Industries. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Saudi Arabia Steel Pipes and Steel Tubes Market.

Contact Us:

BlueWeave Consulting & Research Pvt Ltd

+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662

info@blueweaveconsulting.com

[ravinderimarc]

The global automotive stainless steel tube market size reached USD 4.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.1 Billion by 2033, exhibiting a growth rate (CAGR) of 3.24% during 2025-2033.

[rahulimarc]

Steel Tubes Market Growth

The global steel tubes market is on the rise! In 2024, the market size reached USD 83.4 Billion, and by 2033, it's expected to hit USD 93.3 Billion, growing at a CAGR of 1.24% (2025–2033). This growth is driven by urbanization, sustainable practices, and innovative manufacturing technologies. Explore more insights with IMARC Group.

[communicationblogs]

Steel Market — Forecast(2024–2030)

Steel Market — Overview

Steel Market Report Coverage

For More

The report: “Steel Industry — Forecast (2024–2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Steel Market Report.

By Type: Carbon Steel, (Low Carbon Steel, Medium Carbon Steel, High Carbon Steel), Stainless Steel (Austenitic Stainless Steels, Ferritic Stainless Steels, Martensitic Stainless Steels, Precipitation Hardening Grade Stainless Steels, Duplex Stainless Steels), Alloy Steel (Chromium Molybdenum Steel, Nickel-Chromium-Molybdenum Steel, Chromium Vanadium Steel, HSLA -Nickel-Chromium-Molybdenum Steel), Tool Steel (Water-hardening tool steels, Shock-resisting tool steels, Cold-work tool steels, Hot-work steels, High-speed tool steels, Others), Others

By Form: Bar, Rod, Tube, Pipe, Plate, Sheet, Structural, Others

By Application: Transportation (Road, Bridges, Barriers, Rail, Tracks, Rail Cars), Construction (Cool Metal (infrared reflecting) Roofing, Purlins, Beams, Pipe, Recyclable steel framing (studs), Desks/Furniture), Packaging (Canes, Bottles, Others), Water Projects (Levees/Dams/Locks), Energy (Renewable, Nuclear, Bio-fuels, Fossil, Electric Grid), Others

By Industry: Construction (Steel Skeletons, Concrete Walls, Pillars, Nails, Bolts, Screws, Others), Machinery (Bulldozers, Backhoe Leaders, Pipelayers, Others), Automotive and Transportation (Exhaust, Trim/Decorative, Engine, Chassis, Fasteners, Tubing For Fuel Lines), Kitchenware and Domestic Appliances (Small Household Appliances, Black Home Appliances, White Home Appliances), Electrical and Electronics (Motor Mount Brackets, Adapter Plates, Electronic Frames and Chassis, Brackets, Others), Healthcare (Orthopaedic Implants, Artificial Heart Valves, Bone Fixation, Catheters, Others), Energy (Scrubbers, Heat Exchangers, Others)

By Region: North America, South America, Europe, Asia-Pacific and Rest of the World

Inquiry Before Buying 

Key Takeaways

• The Asia-Pacific region, particularly China, has been a dominant force in the global steel market with a share of 63% in 2023, owing to China’s rapid industrialization and urbanization have driven substantial demand for steel in the construction, infrastructure, and manufacturing sectors.

• Government infrastructure spending, particularly in major economies, plays a significant role in driving steel demand. Large-scale infrastructure projects, such as bridges, railways, and urban development initiatives, can create substantial demand for steel products.

For More Details on This Report — Request for Sample

Steel Market Segment Analysis — By Type

In terms of type, the Steel Market is segmented into carbon steel, stainless steel, alloy steel, tool steel and others. In 2023, the Stainless-steel segment generated the greatest revenue of $361.94 billion and is projected to reach a revenue of $482.28 billion by 2030. Owing to the various benefits posed by stainless steel such as corrosion resistance, high and low temperature resistance, the ease of fabrication, strength, aesthetic appeal is one of the key factors for its adoption among various end-use industries, which in turn is boosting its market growth. The stainless-steel segment can be further classified as Austenitic stainless steels, Ferritic stainless steels, Martensitic stainless steels, Precipitation hardening grade stainless steel and Duplex stainless steels.

Steel Market Segment Analysis — By Form

By form, the steel market is segmented into bar, rod, tube, pipe, plate, sheet, structural and others. The bar segment accounted for the major market share in 2023, with a revenue of $554.58 billion, and is forecast to grow at a CAGR of 4.68% by 2030. The increasing demand for steel bar from various end-user industries such as building and construction, bridges, and many others, are driving the growth of the segment during the forecast period of 2024–2030.

Steel Market Segment Analysis — By Application

Steel Market is segmented by its application that includes transportation, construction, packaging, water projects, energy and others. The energy segment held the dominant market share, 31% of the whole market, in 2023, and is expected to maintain its dominance by 2030 with a CAGR of 4.69%. One of the major factors for the segment growth is the increasing awareness and focus towards renewable energy sources. Steel plays a crucial role in producing and distributing energy as well as improving energy efficiency. Renewable energy is further classified as Wind Towers and Foundation, Wind Turbines and Solar Parabolic Mirror Supports & Collectors.

Steel Market Segment Analysis — By Industry

The Steel finds its application across the industries such as construction, machinery, automotive and transportation, kitchenware and domestic appliance, electrical and electronics, healthcare, energy and others. Among them, the construction segment is the largest consumer of steel, as bearable structures can be manufactured easily at a low cost. The property of steel in its various forms and alloys makes it more flexible to cater the exclusive projects integrated with infrastructure. Moreover, the rapid industrialization and urbanization in various developing countries are fueling the segment growth in strengthening its dominant market position during the forecast period.

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Steel Market Segment Analysis — By Geography/Country

The report comprises of the region wise study of the global market including North America, South America, Europe, Asia-Pacific and Rest of the World. Above all, Asia-Pacific region held the biggest share in 2023, up to 63% of the whole steel market owing to the rapidly expanding defense, machinery, automotive, and shipbuilding industries in the countries such as India, China, South Korea, and Japan. Foreign direct investment in energy and infrastructure is likely to provide opportunities for the market vendors. Coupled with favorable government regulations, growing infrastructure and construction activities in developing economies of the Asia-Pacific region are boosting the demand for the market.

Steel Market — Drivers

Growing Demand for Steel Across the Various Regions

Several factors have a significant impact on the overall development of the steel market. The major growth factor driving the Steel Market is the growing demand for steel across a variety of developing regions. For instance, Global crude steel production in January-November 2023 reached 1715.12 million metric tons, marking a marginal 0.5% year-on-year growth, per provisional data from the World Steel Association. November 2023 saw a production of 145.5 million metric tons, up by 3.3% from the previous year. China led the production with 952.14 million metric tons, followed by India and Japan, USA, Russia, South Korea, and Germany.

Construction and Infrastructure Development:

Construction activities, including residential, commercial, and infrastructure projects such as roads, bridges, and railways, are major drivers of steel demand. Urbanization and industrialization also contribute to the growth of the construction sector, thereby increasing the demand for steel products. For instance, as per Green Finance & Development Center, China Belt and Road Initiative (BRI) Investment Report 2023, engagement totalled about USD88.3 billion, with USD44.6 billion from investment and USD43.7 billion from construction contracts. Also, The US Department of Transportation allocates $3.2 billion in extra funding, alongside $4.3 billion from the Bipartisan Infrastructure Law for 2023. The Budget prioritizes $4.5 billion for the Capital Investment Grant program, aiming to bolster transit infrastructure for economic growth. As a result, the steel market is anticipated to thrive, propelled by heightened construction activities and the need for durable materials, reflecting a promising outlook for the industry.

Steel Market -Challenges

Environmental Regulations and Sustainability

The steel industry is facing mounting pressure to tackle environmental issues by cutting carbon emissions and enhancing sustainability efforts. Meeting stringent environmental regulations demands substantial investments in technology and infrastructure, presenting a formidable challenge for many companies. Despite the financial hurdles, embracing these changes can pave the way for a more sustainable and eco-friendly future for the industry.

Steel Market — Competitive Landscape

The companies referred in the study include Baosteel Co., Ltd., Posco Holding Inc, Nippon Steel Corporation, JFE Holdings, Tata Steel Limited, United States Steel Corporation, Anshan Iron and Steel Group Corporation, Hyundai Steel Co., Ltd., ThyssenKrupp AG, ArcelorMittal S.A., among others. Technology launches, acquisitions, and R&D activities are key strategies adopted by the key players in the Steel Market.

Steel Market — Recent Developments

November 2022, Tata Steel launched the fourth edition of MaterialNEXT, focusing on ‘Materials to Wonder.’ This open innovation event aims to gather ideas on emerging materials and their applications. The program spans five months across Idea Selection, Development, and Evaluation stages, fostering collaboration among scientists, researchers, and startups.

May 2022, Kobe Steel introduced “Kobenable Steel,” Japan’s pioneering low CO2 blast furnace steel, aiming to curtail emissions during ironmaking. Utilizing innovative CO2 Reduction Solution technology, it plans to roll out the product this fiscal year, marking a milestone in sustainable steel production.

In June 2023, Nippon Steel introduces ZEXEED™ Checkered Sheet, a new addition to its high corrosion resistant coated steel series

[market-insider]

Shape Memory Alloys Market Overview: Extensive Evaluation of Market Size, Share, Growth Opportunities

The global shape memory alloys market is expected to reach USD 29.29 billion by 2030, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 11.3% over the forecast period. Shape memory alloy (SMA) refers to a metallic material that can be bent or stretched in its cool state. The alloy regains its original shape when heated above the transition temperature. Low temperature (martensite) and high temperature (austenite) are two stable phases of SMAs.

Nickel-titanium alloy (nitinol) is the key product type, which is largely used in medical devices. Medical devices made from nitinol include dental wires, needles, catheter tubes, guidewires, and other surgical instruments. The biomedical industry is facing many challenging applications that are testing the capability of SMAs. Recent research and development activities are aimed at improving the fatigue life of the material and producing materials with low inclusion sizes.

Shape Memory Alloys Market Report Highlights

The biomedical segment had the largest market share, over 60%, in 2023. This segment's large share is attributed to increasing R&D in medical devices and surgical instruments.

The Nickel titanium alloys (nitinol) segment is anticipated to grow at a CAGR of 11.4% during the forecast period. Increasing R&D activities for application-specific products are aiding the growth of this segment.

Asia Pacific held a revenue share of over 29.0% in 2023. The large populations in India and China, along with increasing investment in the healthcare sector, are projected to remain key drivers for the long term.

North America is anticipated to grow at a CAGR of 11.4% during the forecast period. Increasing production activities in the aerospace and automotive industries are likely to contribute to market growth.

Some of the key players in the market are SAES Group, ATI, Nippon Steel Corporation, Furukawa Electric Co., Ltd., Seabird Metal, and Johnson Matthey. M&As and investment in R&D are key growth strategies of market players.

For More Details or Sample Copy please visit link @: Shape Memory Alloys Market Report

Gradual expansion of the automotive industry is likely to play a significant role in the demand for SMAs over the forecast period. SMA actuators are gaining popularity among automobile manufacturers owing to properties such as shape memory effect (SME) and super elasticity (SE). In addition, SMA actuators do not need complex and bulky design to function. Increasing R&D investments by automobile manufacturers to find potential applications such as climate control, door locks, engine control valve, and actuators are anticipated to drive market growth.

Aerospace and defense is another promising sector for SMAs. Rising focus on multi-functionality and reliability is driving demand for advanced materials in aerospace applications such as spacecraft, rotorcraft, and fixed-wing aircraft.

Asia Pacific is projected to remain a key region for the market over the coming years. Various research institutes and organizations are focusing on the development of new industrial applications. The region is undergoing significant infrastructural development in railways, roadways, industrial, commercial, and residential sectors. Furthermore, globalization has made the region a lucrative place for investment to aid the development of the economy while catering to a larger population. Asia Pacific also boasts a large aerospace and defense industry, creating novel opportunities for SMAs to be incorporated.

The market is competitive, with various small and large participants. Mergers and acquisitions, R&D investments, and new product launches are key strategic initiatives adopted by market players. For instance, in March 2024, Montagu Private Equity LLP, a private equity firm, announced its plans to acquire Johnson Matthey Plc's Medical Device Components (MDC) business. MDC develops and manufactures specialized components for minimally invasive medical devices. It also focuses on complex and high-precision parts made from platinum group metals and nitinol.

List of major companies in the Shape Memory Alloys Market

ATI

Baoji Seabird Metal Material Co., Ltd.

Dynalloy, Inc.

Fort Wayne Metals Research Products Corp

Furukawa Electric Co., Ltd.

Johnson Matthey

Mishra Dhatu Nigam Limited (MIDHANI)

Nippon Seisen Co., Ltd.

Nippon Steel Corporation

SAES Group

For Customized reports or Special Pricing please visit @: Shape Memory Alloys Market Analysis Report

We have segmented the global shape memory alloys market on the basis of product, end-use, and region.

[forblogmostly]

SRU Steels Ltd Sees Over 10% Surge as Board Approves Rights Equity Shares Allotment

On October 15, 2024, SRU Steels Ltd, a penny stock that has drawn attention for its promising growth, experienced a significant surge in its share price. Trading on the Bombay Stock Exchange (BSE), the stock jumped over 10% to reach ₹8.75 per share, rising sharply from its previous closing of ₹8.11. This boost in performance was accompanied by a spurt in trading volume, increasing by over 1.01 times, further solidifying the stock as one of the top gainers on the BSE for the day. The company’s stock, which has a 52-week high of ₹15.20 and a low of ₹7.55, continues to attract investors with its consistent performance in the market.

A key development driving this surge was the allotment of 4,79,51,400 Rights Equity Shares by SRU Steels Ltd's Rights Issue Committee and Board of Directors. The shares were offered at a price of ₹10 per share, with the allotment finalized on September 30, 2024. This follows the Letter of Offer issued on August 27, 2024, and the finalization of the Basis of Allotment in coordination with BSE Limited. With this allotment, the company’s paid-up equity share capital has now increased to ₹47.95 crore, marking a significant milestone in the company’s financial journey.

Established in 1995, SRU Steels Ltd has built a strong reputation in the steel industry, specializing in the trading of stainless steel products. Initially, the company operated primarily as a consignment agent, facilitating transactions on behalf of larger entities. However, over time, SRU Steels expanded its business model to include direct sales, offering a wide range of steel products to customers. These products include stainless and mild steel coils, sheets, and carbon iron steel, allowing the company to tap into various market segments. SRU Steels also serves as a commission agent, selling steel products on behalf of other companies, thus maintaining its consignment business alongside its growing direct sales efforts.

The company’s strategic focus on direct sales has allowed it to carve out a niche in the competitive steel market. It boasts partnerships with major industry players like Jindal Steel & Power Limited, from whom it sources its raw materials. With operations in Delhi and Ahmedabad, SRU Steels has established a strong supply chain by working with reliable suppliers, including Jindal Steel Limited and the Steel Authority of India Limited. Its product offerings include an array of stainless steel items such as sheets, PVC-coated sheets, checkered sheets, coils, pipe fittings, rods, angles, channels, round tubes, and flat bars, all of which are in demand across various industrial sectors.

One of the standout features of SRU Steels Ltd is its debt-free status as of June 2024. With a market capitalization exceeding ₹50 crore, the company is well-positioned to continue its growth trajectory. Its financial health has attracted the interest of investors, particularly those who follow penny stocks, as it offers both stability and potential for future expansion. However, recent financial reports have shown mixed results. The company’s quarterly results for Q1FY25 and the annual results for FY24 reflect both achievements and challenges, underscoring the importance of continued monitoring by investors.

For those who follow the penny stock market, SRU Steels Ltd is a company worth watching. Its strong ties to major steel suppliers, growing presence in the direct sales market, and debt-free balance sheet make it a compelling option for investors looking for opportunities in the micro-cap space. With the recent rights issue and surge in stock price, SRU Steels Ltd is positioning itself for further growth and success in the steel trading industry.

Investors interested in SRU Steels Ltd and other similar opportunities can explore DSIJ’s ‘Penny Pick’ service, which offers research-backed recommendations for penny stocks priced below ₹100.

[energyandpowertrends]

Shell & Tube Heat Exchanger Market Overview: Key Insights and Future Growth Potential

The Shell & Tube Heat Exchanger Market size was valued at USD 9.17 billion in 2023 and is expected to grow to USD 14.84 billion by 2032 with a growing CAGR of 5.5% over the forecast period of 2024–2032.

Market Overview

Shell & tube heat exchangers are a vital component in managing thermal exchange between fluids, particularly where temperature and pressure variations are common. The design, consisting of a shell with a bundle of tubes inside, allows one fluid to flow through the tubes while another flows around them within the shell, facilitating efficient heat transfer.

Ongoing advancements, including material enhancements, improved design configurations, and automation, have expanded the heat exchanger’s role across industries requiring high-efficiency thermal management solutions. These developments are fostering growth in the market as companies seek technology that not only improves operational efficiency but also aligns with sustainability objectives by conserving energy.

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Key Market Drivers

Rising Industrialization: Rapid growth in industrial activities, especially in emerging economies, is boosting demand for heat exchangers that can handle intensive thermal applications.

Energy Efficiency Needs: Growing environmental regulations and the push for energy-efficient equipment are leading industries to adopt heat exchangers that can reduce heat loss and energy consumption.

Expansion in Oil & Gas and Chemical Industries: The oil & gas and chemical sectors, with their high processing requirements, are driving demand for durable and high-performance heat exchangers to support their operations.

Advancements in HVAC Systems: Increasing adoption of HVAC systems for both residential and commercial applications is creating demand for efficient and reliable heat exchangers.

Government Initiatives for Sustainability: Policies promoting energy conservation are further motivating industries to adopt advanced heat exchange solutions.

Market Segmentation

The Shell & Tube Heat Exchanger Market can be segmented by type, material, application, and region.

By Type

Single Pass: Fluid passes through the tubes once, typically used in applications requiring moderate heat transfer.

Multi-Pass: Fluid circulates multiple times, allowing for greater heat transfer, suitable for more intensive industrial applications.

Fixed Tube Sheet: Often used in high-temperature settings, this configuration is more durable but less flexible for maintenance.

U-Tube: Designed for applications where thermal expansion is an issue, allowing tubes to expand and contract without stress on the system.

By Material

Stainless Steel: Known for corrosion resistance, it is widely used in industries like food processing and pharmaceuticals.

Carbon Steel: Ideal for high-pressure applications, often used in the oil & gas sector.

Exotic Alloys: Materials like titanium are used in applications involving highly corrosive substances.

Others: Includes materials like copper, which is highly conductive and suitable for certain niche applications.

By Application

Oil & Gas: Critical for handling high-pressure applications in refining and gas processing.

Chemicals & Petrochemicals: Used in processes where aggressive chemicals and high temperatures are common.

Power Generation: Essential in thermal power plants for managing steam and cooling processes.

HVAC & Refrigeration: Widely used in both residential and commercial heating and cooling systems.

Others: Includes applications in food processing, marine, and pharmaceuticals.

Regional Analysis

North America: Significant market due to the well-established oil & gas industry and robust power generation infrastructure.

Europe: Emphasis on energy efficiency and stringent regulations are driving demand for advanced heat exchangers in industries such as power and chemical processing.

Asia-Pacific: Rapid industrialization, particularly in China and India, is fueling market growth as manufacturing, chemical processing, and HVAC industries expand.

Latin America: Growth in the oil & gas sector, particularly in Brazil, is contributing to market expansion.

Middle East & Africa: Investments in petrochemical and energy sectors are driving demand for heat exchangers, with a focus on high-efficiency solutions.

Current Market Trends

Use of High-Performance Materials: Increasing adoption of corrosion-resistant and high-strength materials to enhance durability and efficiency.

Focus on Compact Designs: Manufacturers are focusing on compact heat exchanger designs to reduce the space needed and improve efficiency in constrained environments.

Integration of IoT and Automation: Smart technologies enable real-time monitoring, maintenance, and control, reducing downtime and improving operational efficiency.

Shift Toward Renewable Energy Applications: Heat exchangers are being adapted for use in geothermal and solar thermal applications, aligning with the global shift toward renewable energy.

Growth in Customized Solutions: Customized heat exchanger solutions are becoming more popular as industries seek equipment that meets their specific operational requirements.

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Conclusion

The Shell & Tube Heat Exchanger Market is anticipated to experience substantial growth over the forecast period, supported by rising industrialization, increasing energy efficiency demands, and advancements in materials and design. As industries face mounting pressure to reduce operational costs and comply with environmental regulations, shell & tube heat exchangers present a robust solution for efficient thermal management.

With a focus on continuous improvement and innovation, companies in the shell & tube heat exchanger market are well-positioned to meet evolving industrial needs. By integrating advanced materials and digital technologies, manufacturers can provide more reliable and efficient solutions to support diverse applications across sectors.

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[blueweave8]

United States Steel Pipes and Tubes Market Scope, Trends, 2023-2030

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States Steel Pipes and Tubes Market size at USD 25,954.65 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects United States Steel Pipes and Tubes Market size to expand at a CAGR of 2.17% reaching a value of USD 29,988.37 million by 2030. The Steel Pipes and Tubes Market in United States is propelled by the expansion of petrochemical plants, the escalating demand within the oil and gas industry, and their widespread applications across sectors such as construction, mining, and water treatment. Steel pipes are indispensable for transporting oil, gas, propane, and other gases, where precise measurements and pressure ratings are paramount. Their exceptional anti-corrosion properties make steel tubes ideal for structural applications, including scaffolding, where high precision outside diameters are essential. The burgeoning demand for steel pipes in new oil and natural gas projects, coupled with their applications in industries like wind turbines, medical devices, and plastics production, is significantly fueling market growth. In the automotive sector, steel tubes are utilized in various components, including diesel spark plugs and engine block heating. Moreover, increasing government investments in infrastructure development, combined with rapid urbanization and industrialization, are expected to further catalyze the expansion of United States Steel Pipes and Tubes Market over the forecast period.

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Seamless Segment Holds Largest Share of US Steel Pipes & Tubes Market

The seamless segment accounts for the largest share of United States Steel Pipes and Tubes Market by technology. Seamless steel products are meticulously crafted from perforated and heated billets, resulting in tubes devoid of seam welds. These seamless pipes and tubes find widespread applications across industries such as oil & gas, power generation, chemicals & petrochemicals, and engineering. The oil and gas sector, in particular, stands as the dominant force in the seamless technology market, driven by its insatiable demand for tubular products capable of enduring high pressures, corrosive environments, and mechanical stresses. Seamless pipes are indispensable in upstream, midstream, and downstream oil and gas operations, serving as the lifeblood of the industry's infrastructure and processes.

Impact of Escalating Geopolitical Tensions on United States Steel Pipes and Tubes Market

Intensifying geopolitical tensions can have a multifaceted impact on United States Steel Pipes and Tubes Market. Tensions among countries could lead to trade restrictions, sanctions, and disrupted supply chains, ultimately affecting the availability and cost of raw materials, including steel. Additionally, uncertainties in international relations can influence oil and gas projects, a key end-user sector for steel pipes and tubes. The imposition of tariffs and changing trade policies can further compound these challenges, leading to increased production costs, reduced market competitiveness, and potentially restraining the growth of United States Steel Pipes and Tubes Market.

Competitive Landscape

United States Steel Pipes and Tubes Market is highly fragmented, with numerous players serving the market. Key players dominating United States Steel Pipes and Tubes Market include Jindal SAW Ltd, Allied Tube & Conduit Corp, Curtis Maruyasu America, Inc., Benteler Steel Tube Manufacturing Corp, DeBra-Kuempel Co, Nucor Corporation, JFE Steel America, Inc., American Piping Products Inc, and Midwest Steel Products, Inc. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

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