Carbon Steel Pipe Fittings Market (2022 - 2030) Size, Share & Trends Analysis Report, By Application (Oil & Gas, Construction & Infrastructure, Industrial), By Region, And Segment Forecasts

Report Overview

The global carbon steel pipe fittings market size was valued at USD 6.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. The rising need to transport and store the materials in oil & gas, and petrochemicals industries are expected to assist the market growth.

Source: Grand View Research, IR Documents, Primary Interviews, Paid Databases

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The ability of carbon steel pipe fittings to withstand demanding environmental conditions such as heat and steams makes them a suitable choice over other materials. In some applications, piping systems need to transport the gas at a very low temperature, wherein brittleness and cracks can create challenges. In such applications, carbon steel pipe fittings are needed to meet the demanding requirements. These fittings are also economical and are popular owing to wide applications such as sewage, municipal, and transport of water, oil, and gas in numerous industries.

In the U.S., carbon steel pipe fittings (CSFTs) are used in commercial, residential, and industrial pipe systems in construction, electric power generation, petroleum refining, chemical synthesis, and shipbuilding among others. CSFTs are used for joining the pipes or dividing the flow of water, oil, steam, and natural and other gasses. They are welded to fixed piping systems to convey the fluids in heating, plumbing, irrigation, electrical conduit systems, etc.

The aging of water infrastructure and thus heavy water losses due to leakages is likely to contribute to the market growth in the U.S. As per The US Environmental Protection Agency (EPA), the replacement of water piping systems is likely to increase over the coming years i.e., from the current replacement rate of 4,000 - 5,000 miles/year to 16,000-20,000 miles/year by 2035. This is predicted to attract the demand for piping and related materials such as fittings.

Carbon steel fittings are used in secondary pipelines in the nuclear power sector and growing investments in this sector of the U.S. is anticipated to provide lucrative opportunities for market vendors. The U.S. is one of the leading countries in this sector and accounted for a share of around 30% of global nuclear energy generation as of 2021. Additionally, in June 2021, the U.S. Department of Energy (DOE) announced an investment of USD 61 million for advanced nuclear projects. 

Application Insights

The oil & gas segment accounted for the largest revenue share of nearly 50.0% in 2021. The segment is projected to grow on account of rising investments in the oil & gas industry. For instance, China Petroleum & Chemical Corp is planning to invest USD 31.00 billion for upstream exploration in Sichuan and Mongolia regions. The company aims to expand its footprint in natural gas, refined oil, and petrochemical products.

The construction & infrastructure segment is anticipated to grow at the rate of 4.1% during the forecast period. Investment in infrastructure in different countries is likely to aid the growth of this segment. For instance, as per Investing in Canada Plan, the government of Canada aims to invest USD 180.00 billion in its infrastructure by 2028. The plan was introduced in 2016 and USD 119.00 billion has been invested in over 77,000 projects.

Chemicals & petrochemicals are likely to offer lucrative business opportunities for market vendors with growing investments in this sector. For instance, in December 2021, Abu Dhabi Chemicals Derivatives Company RSC ltd. and Reliance Industries Limited (RIL) proposed an investment of USD 2 billion for the construction of a petrochemical production facility. This venture is likely to produce polyvinyl chloride (PVC) and ethylene dichloride (EDC) in UAE.

Regional Insights

The Asia Pacific dominated the market and held the largest volume share of over 60% in 2021 owing to the rapidly expanding infrastructure industry and investments in the oil & gas sector. Recently in May 2022, the U.S. pledged to invest USD 150 million for the expansion of infrastructure, maritime activities, and others.

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Europe is also likely to remain a key market over the coming years. The oil & gas industry of the region is under pressure amidst the recent Russia-Ukraine conflict. However, the Russian government is focused on investment from other countries to expand its oil & gas sector. For instance, Russia recently asked the Indian government to invest in Russia’s oil & gas industry.

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Growing infrastructure investments in North America region is anticipated to benefit the growth of the market. For instance, under the Infrastructure Development Act passed by the U.S. government, the authorities are estimating that California is likely to receive USD 14.00 billion for rebuilding infrastructures including water supply, bridges, roads, and communication. Similar investments have been announced for other states in the U.S.

Key Companies & Market Share Insights

The market is fragmented in nature with numerous small, medium, and large companies. The companies are focused on the expansion of their businesses through organic and inorganic growth strategies. For instance, in August 2021, Vikas Ecotech Limited announced a new plant for steel pipe fittings in Uttar Pradesh, India. The company expects the project to be completed by end of 2022.

In February 2021, Tenaris has announced an investment of USD 20 million for its facility in Dalmine, Italy. This investment is likely to assist in the reduction of lead time, increase capacity and improve the sustainability of the production process. With this investment, the company can produce fittings, tubular bends, OCTG, line pipes, and gas cylinders among others. Prominent players in the carbon steel pipe fittings market include:

• AWAJI MATERIA CO., LTD.

• Bassi Luigi & C. S.p.A

• Delcorte

• Erne Fittings GmbH

• M.E.G.A. S.p.A.

• PARKER HANNIFIN CORP

• S.S.E. Pipefittings Limited

• SBC BEND CO., LTD.

• SUNGKWANG BEND CO., LTD.

• Thai Benkan Co., Ltd

Global Carbon Steel Pipe Fittings Market Segmentation

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the carbon steel pipe fittings market report based on application, and region:

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• Application Outlook (Volume, Kilotons, Revenue, USD Million, 2017 - 2030)

  • Oil & Gas

  • Chemicals & Petrochemicals

  • Construction & Infrastructure

  • Industrial

• Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • Russia

    • Turkey

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Iran