MEA & Australia Steel Pipe Market 2021

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MEA Australia Steel Pipe Market By Type,
Trend Analysis, Market Share Forecast,
2020-2027
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Industry Trends Forecast Report 2027 The MEA
Australia steel pipe market was USD 29,215.0
million in 2020 which is anticipated to reach the
valuation of USD 38,719.4 million by 2027 growing
at a CAGR of 4.5duringthe forecast period. The
growth of the MEA Australia steel pipe market
is mostly due to the increased use of seamless
pipes in the oil and gas industry, where they
perform immaculately at high pressures and
temperatures. In the Middle East region, the
seamless pipes market is expected to remain
dominant due to the new developments taking place
in the oil gas industry and oil gas
drilling.
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Growth drivers The Booming Oil and Gas Industry
in MEA Steel Pipe Market The oil gas industry
is the world's largest industry in terms of
revenue. Moreover, the oil gas industry in MEA
is also the worlds largest industry in terms of
revenue. Most of the major players in the world
have plants in the MEA. MEA's oil and gas
industries contribute significantly to the
country's GDP (gross domestic product). According
to the Organisation of Petroleum Exporting
Countries, Saudi Arabia controls approximately
17 of the world's proven petroleum reserves.
Approximately 50 of the GDP comes from the oil
gas industry.
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Restraints The Increasing Price of Stainless
Steel Because steel is the most common and
prominent material used globally, there are many
subcategories of steel that are used globally for
various purposes. Steel pipes are mainly
influenced by the qualities and characteristics
of the materials used to manufacture them. The
type of steel to be used for a particular project
should be chosen based on quality and cost. The
price of stainless steel in the Kingdom of Saudi
Arabia can vary from Saudi Riyal 77-770 per meter
of stainless-steel pipe prices. Compared to the
5 monthly price increase seen at the end of
2020, the price hike for grade-304 stainless
steel has risen by 15 since the beginning of the
year, mostly due to increases in alloy surcharges
and base prices.
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Impact of COVID-19 The pandemic has caused the
world an unexpected blow, and the death toll
continues to rise withthe virus raising its ugly
head across the globe.Construction stopped
following a spike in infections in the early
phases of the pandemic, which lowered the demand
for steel pipes in MEA Australia however, once
the first wave of infections had passed,
governments responded by investing heavily in
infrastructure to boost their economies. However,
lockdowns and curfews were imposed once again,
resulting in supply chain disruptions, labor
shortages, financial losses, and a temporary
negative impact on investments. One of the
primary demand drivers for steel pipes is the oil
and gas industry, which had to undergo the worst
crisis ever, with oil prices plunging to USD
21.04 per barrel during the first wave of
COVID-19. 
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The MEA Australia Steel Pipe Market- Regional
InsightsBased on the regional level, the MEA
Australia steel pipe market is segmented into MEA
Australia. The MEA region held the largest
market share in 2020 and is anticipated to
continue its supremacy in the coming years as
well. Based on countries, the MEA steel pipe
market is segmented into Turkey, Egypt, Saudi
Arabia, South Africa, and the rest of MEA. Saudi
Arabia accounted for the largest market share in
2020, The strong presence of the oil gas
industry in Saudi Arabia is mainly responsible
for the high demand for steel pipes in the
country. Moreover, the presence of global leaders
such as Saudi Aramco, which is mostly
state-owned, has accelerated the growth of the
steel pipe industry in Saudi Arabia.
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Competitive Landscape The MEA Australia steel
pipemarket is highly competitive and fragmented
and is composed of many large, small, and medium
players. The key players dominating the market
are ArcelorMittal, Tenaris Saudi Steel Pipes, Al
Gharbia Pipe Co., Conares Metal Supply Ltd.,
Global Pipe Company, SeAH Steel, Steel Mains,
TMK, Welspun MiddleEast, Arabian Pipes, National
Pipe Company Ltd., Nippon Steel Corporation, JFE
Holdings, Inc., Jindal Saw Ltd., Severstal,
Vallourec, Evraz,Tata Steel, JSW Steel
Limited, andother prominent players. Sample Copy
of the Report https//www.blueweaveconsulting.com
/report/mea-and-australia-steel-pipe-market/report
-sample
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