Carbon Steel Piping Spools Market

Carbon steel piping spools are durable and it is made of carbon steel, a steel alloy with iron and carbon. It is strong and capable to maintain stress. Carbon steel pipe is used in a variety of heavy-duty industries like infrastructure, ship making, distillers, and chemical fertilizer equipment. The durability of carbon steel piping is high and mainly used in oil & gas industry, power plants, and others.

Carbon steel piping spools transportation can be done in high volume and made with less materials, which makes carbon steel piping a cost-effective material. It is shock-resistant and not affected by harsh environmental conditions like pressure or extreme weather and is an ideal material for structural applications.

Market Scope and Structure Analysis

The carbon steel piping spools market is projected to grow at a promising rate over the upcoming years. A low-cost and safe option and the rise in demand for chemical storage from varied application segments are estimated to safeguard the expansion of the market during the forecast period.

Some of the most common uses of carbon steel piping include building foundations, natural gases or oil transportation, boilers, and condenser tubes, transporting wastewater, processing of chemicals, high-pressure applications, and transporting sewage.

The report focused on the current market scenario which includes historical data and also projected market size in respect to regions such as North America, Europe and Asia-Pacific, South America, Middle East, and Africa.

COVID-19 Impact Analysis

• COVID-19 has shut down the production of carbon steel pipes because of the lockdown. This has hampered the growth of the market in the last few months and is likely to continue during 2021.
• At the beginning of 2020, the COVID-19 began to spread around the world, millions of people worldwide were infected with the disease, and major countries have implemented prohibitions and work stoppage orders. Except for the medical supplies and life support products companies, most industries have been greatly impacted.
• The major demand for the carbon steel pipe for spools making in the giant production and processing countries like U.S., India, and Germany are negatively affected by the pandemic, thereby declining the demand for carbon steel pipe.
• The COVID-19 has hindered the growth of the carbon steel pipe market as sectors such as energy, structure building, and fertilizers are affected significantly. The construction sector in China, Middle East, and Africa also witnessed a major decline in the number of projects as most countries across the globe have imposed lockdown restrictions and disrupted the overall supply chain.

Top Impacting Factors

Piping spools are a fabricated component for the piping system. Pipe spools can be connected with the use of valves, and flanges for better use. Carbon steel piping spools are generally used in power plants, chemical industries, and oil & gas industries. Factors driving the market growth include increase in exploration and drilling activities for oil around the globe. The rise in growth and success rate of petroleum extracting drives the growth of the market. An increase in the use of pipe and fittings in chemical industries and power plants is anticipated to foster the growth of the market.

Carbon steel pipe is the most commonly used material for process piping. It has the advantage of wide availability, high strength, and a large array of connection possibilities, for example, screwed, socket-welded, and butt-welded. Steel pipe should be selected for the required strength and durability required for the application and the ductility and machinability required for joining it and forming it into piping spools. The pipe must withstand the pressure, temperature, and corrosion conditions of the application. These requirements are met by selecting pipes made to an appropriate ASTM or API standard.

Raw material availability is the major factor that hinders the growth of the market. The transportation of carbon steel is expensive for some countries. The manufacturing of carbon steel is required to be high for the growth of the market.

Market Trends

• Most recognized market players are introducing the improved quality of finished materials which is helping the community and in their market growth. They have taken necessary steps to improve the accuracy of devices and overall functionality as well. Metal Forge India provide new technology carbon steel piping spools with grades ASTM A 234 WPB, WPBW, WPHY 42, WPHY 46, WPHY 52, WPH 60, WPHY 65 & WPHY 70.  In-house chemical and mechanical facilities are going up through this new technology. 
• Similarly, competitors in the piping industry adopted acquisition as their key developmental strategy to outrage their global market. Cogbill’s RedLine IPS Composite Wear Pad System delivers unmatched corrosion protection to industrial piping systems. The wear pads are manufactured from a specially formulated vinyl ester resin. This proprietary material is UV stable and loads tested to ensure peak performance in the most demanding environments such as marine, off-shore, and other highly corrosive environments. RedLine pads and epoxy combine to provide high shear and compressive strength.
• Pipe spools are a critical phase of the piping process in which numerous components and work steps, such as cutting, fitting, and welding, are gone through. For growth in the piping industry PEMA solutions has taken initiative for the workshop to cover the most common challenges in the pipe spools production.

Key Benefits of the Report

• This study presents the analytical depiction of the carbon steel piping spools making industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the carbon steel pipe share.
• The current market is quantitatively analyzed to highlight the carbon steel piping spools market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed carbon steel piping spools market analysis based on competitive intensity and how the competition will take shape in coming years.

 Carbon Steel Piping Spools Market Report Highlights