Rapid growth in the oil and gas industry is driving the growth of the clad pipe market.
Globally, the clad pipe market is expected to grow at a CAGR of more than 5.8% during the forecast period from 2019 to 2027, starting from US$2.2 Bn in 2018. Clad pipes are made by welding the pipe with clad material. This process is done mainly to increase the strength of the pipe, reduce corrosion, and achieve maximum cost benefits. Clad pipes are mostly used in the oil and gas industry to withstand high-pressure and high-temperature environments.
The primary factor associated with the increased utilization of clad pipes is concern regarding corrosion. Most of the manufacturing, oil, gas, and mining industries face corrosion problems due to the flow of heavy chemicals and gases. This has mainly driven the attention of the industries toward clad pipes.
Factors such as the growing oil and gas industry, increasing demand for petrochemical components, growing demand for corrosion-resistant materials, and changing manufacturing sectors are driving the growth of the clad pipe market across the globe. However, the high cost of these pipes and their critical manufacturing process are some of the factors hampering the growth of this market during the forecast period.
Market Synopsis
The metallic-bonded segment dominates the clad pipe market.
Based on type, the market is segmented into metallurgically bonded, mechanically lined, and weld overlay. Metal-bonded clad pipes are widely adopted across the globe, hence holding the maximum market share in the global clad pipe market. These pipes have a small wall thickness and are strong compared to all other types of clad pipes. Also, the metallurgical-bonded steel pipes are light in weight, and their manufacturing process is cost-effective and easy.
These advantages make it easy for the manufacturer to make these pipes available for the customer. Additionally, based on its properties, its adoption is also high, and it thus dominates the market by generating the largest revenue in the global clad pipe market.
Europe and the Rest of the World to witness a rapid growth in the forecast period.
In the global clad pipe market, North America held the largest market share in 2018. However, Europe and Middle Eastern countries are likely to witness the fastest growth during the forecast period.
This high growth is mainly attributed to factors such as the growth of the oil and gas industry, increasing demand for petrochemical substances, an increasing amount of offshore activities, and growing investment in the development and advancement of manufacturing processes.
Moreover, major players in the oil and gas industry are investing in some European countries and other countries such as China, South Africa, and the UAE. This increasing investment also drives the market for clad pipes in these regions. The developing countries offer lucrative growth opportunities for offshore activities and are, therefore, suitable for players to invest in.
Some of the prominent players operating in the clad pipe market include NobelClad, Japan Steel Works, Proclad, Tenaris SA, Inox Tech, Eisenbau Krämer, IODS Pipe Clad Ltd., EEW Group, BUTTING Group, Gieminox Tectubi Raccordi S.R.L., Cladtek Holdings Pte Ltd., Canada Group Ltd., Guangzhou Pearl River Petroleum Steel Pipe, Precision Castparts Corp., and Jiuli Group, among others.
Historical and Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The clad pipe market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global clad pipe market based on type, grade, outer diameter, wall thickness, and geography. Key segments covered in the report are as follows:
Key questions are answered in this report.
What was the market size of clad pipe in 2018 and the forecast up to 2027?
Which is the largest regional market for the services segment?
What are the major trends followed in the clad pipe market across different regions?
Who are the key-clad pipe companies leading the market?
What are the key strategies adopted by the leading clad pipe companies in the market?
Unique data points of this report
Statistics on clad pipe penetration and spending worldwide
Recent trends across different regions in terms of the adoption of clad pipe for various applications
Notable developments going on in the clad pipe industry
Attractive investment propositions for segments as well as geography
Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
Frequently Asked Question:
The market for Clad Pipe Market is expected to reach USD$ 2.2 Bn in 2027.
The Clad Pipe Market is expected to see significant CAGR growth over the coming years, at 5.8%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Tenaris SA, Inox Tech, Eisenbau Krämer, IODS Pipe Clad Ltd., EEW Group, BUTTING Group, Gieminox Tectubi Raccordi S.R.L. are some of the major players in the global market.
