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The future of the global industrial seamless steel pipe market looks promising with opportunities in the power generation, petrochemical, industrial plant processing, and automotive industries. The major drivers for this market are growing demand for seamless steel pipe in power generation and automotive industries due to its superior tensile strength and high corrosion & pressure resistance.
Emerging trends, which have a direct impact on the dynamics of the industrial seamless steel pipe industry, include increasing use of premium and technically advanced pipe by dopeless technology and increasing focus on pipe strength and durability with use of cold finished seamless pipes.
The researcher forecasts that hot finished seamless pipes will remain the largest segment and it is also expected to witness the highest growth over the forecast period because of its low cost and high tolerance & crack resistance.
Within the global industrial seamless steel pipe market, the power generation will remain the largest end use industry over the forecast period due to growing hydro and nuclear power generation plants. The automotive segment is expected to witness the highest growth over the forecast period due to increasing vehicle production.