Page 12 - ITAtube Journal 2 2024

up to 25 mm. This process is applied for large pipelines and various construction application.
and their productivity (Figure 10). Since then, the US production remains on such
Market information
A special market segment are stainless steel tubes with a wide range of applications. The
market size is only about 5 million tons per year, subdivided in welded tubes (89%) and seamless tubes (11%), but this niche market has attractive segments (Figure 7). Especially the seamless stainless steel tube market growths by about 5% per year!
12
th
ke
th
havBebtrlie.dbytovoluntary supply cuts. The USA on The USA on
Figure 7: World Stainless-Steel Tube Market 2023
incremental bending by a hydraulic sword. LSAW pipes are normally used in more demanding OCTG applications.
In case of even larger OD requirements, the continuous HSAW process is applied. The process is charged by hot strip, which is spiral weld up to 3.050 mm OD with wall thicknesses up to 25 mm. This process
is applied for large pipelines and various construction application.
A special market segment are stainless steel tubes with a wide range of appli- cations. The market size is only about 5 million tons per year, subdivided in welded tubes (89%) and seamless tubes (11%), but this niche market has attractive segments (Figure 7). Especially the seamless stainless steel tube market growths by about 5%
Figure 7: World Stainless-Steel Tube Market 2023
Source: SMR.at
Source: SMR.at
ooking at the different market segments of stainless-steel tubes, th r OCTG, chemical/petrochemical and power generation are mostly olume segments architecture, building and construction, transport a
od processing with less alloyed materials are dominated by welde
7
L
fo seamless,whereasthe
v fo
per year!
Looking at the different market segments
Figure 8: World Stainless-Steel Tube Market Segments Source: SMR.at
tubes for OCTG, chemical/petrochem- ical and power generation are mostly seamless, whereas the volume segments architecture, building and construction, transport and automotive as well as food processing with less alloyed materials are dominated by welded tubes (Figure 8).
The major driver of the tube and pipe industry is the OCTG market representing about 51% of the world tube and pipe production. The consumption of OCTG tubes directly relates with the oil price (see previous tube market reviews). OPEC+
during the past years have tried to keep
Figure 8: World Stainless-Steel Tube Market Segments Source: SMR.at
Ture9).
T o stay at 80
Utandtheother
ge h mBobrel. (Figure 9). Therefore, under normal
ge increasing
teoming
el
Figure 9: Oil price WTI development 1 year up to 14th of June
WTI oil price to stay at 80 USD/Bbl. in 2024. This projection certainly only applies if the war in middle east and the other geopolitical conflicts remain local. The oil price volatility anyhow ticks higher with more geopolitical risks simmering. Traders monitor Houthi attacks in the red sea, the increasing tension between Israel and the pro-Iranian Hezbollah militia as well as the
ITAtube Journal July 2024
Figure 9: Oil price WTI development 1 year up to 14th of June 2024 (US$/Bbl.)
2024 (US$/Bbl.)
Source: US Energy Information Administration
Source: US Energy Information Administration
The USA to soften the inflation and to sacrifice the crude oil demand enlarged its
crude oil production almost linear from 12 Mio. Bbl./day in September 2023 to
13,3 Mio. Bbl./day in February 2024 (+ 11%) by increasing the number of drilling rigs
at higher alloyed tubes
nd automotive as well as
of stainless-steel tubes, that higher alloyed
d tubes (Figure 8).
e major driver of the tube and pipe industry is the OCTG market representin
the world tube and pipe production. The consumption of OCTG tubes directl e oil price (see previous tube market reviews). OPEC+ during the past years ep the oil price at a minimum level of 90 USD/Bbl. by voluntary supply cuts.
e other hand tried to balance the possible supply shortages by additional own hese measures kept the Oil price mostly in a range of 70 to 90 USD/Bbl. (Fig herefore, under normal conditions, the World Bank projects the WTI oil price t SD/Bbl. in 2024. This projection certainly only applies if the war in middle eas
opolitical conflicts remain local. The oil price volatility anyhow ticks higher wit
opolitical risks simmering. Traders monitor Houthi attacks in the red sea, the nsion between Israel and the pro-Iranian Hezbollah militia as well as the upc ections in France and Iran with concern.
Thgabout51%
ofyrelateswith
the oil price at a minimum level of 90 USD/
the other hand tried to balance the pos-
supplies.
sible supply shortages by additional own supplies. These measures kept the Oil
price mostly in a range of 70 to 90 USD/
conditions, the World Bank projects the