[ Tubes , Pipes And Fittings ]
[ Tubes , Pipes And Fittings ]
Introductory The low / zero-carbon energy future affects the stainless-steel industry in numerous ways . There has been a trend towards green ( decarbonized ) steel production , and the recyclability of stainless steel makes it highly suitable during the energy transition . Perhaps even more importantly , stainless steel is crucial for the new-energy sectors of hydrogen , CCUS and renewables , without however relinquishing its role in the traditional industries such as gas-fired power plants , petrochemicals , or oil & gas . The tubes , pipes , and fittings ( TPF ) sector is especially geared towards catering for both the new and the old industries .
Outlook Industry surveys predict a rosy future for the TPF sector : one survey predicts an expansion of 6.49 % per year between 2023 and 2030 ( 1 ) , driven mainly by economic growth in China and India . In 2022 a forecast predicted that the stainless TPF market would grow by an estimated 4.53 % per year between 2023 and 2030 ( 2 ) . This optimism seems to be supported by good company results . For instance , Mannesmann Stainless Tubes ( MST ) had “ a good year overall ” in 2023 , with an excellent first half , but some weakness in its distribution business in the second half . It reports strength in its aerospace , medical , gas , and nuclear sectors , and sees potential in small nuclear reactors , CCUS and ( further down the road ) hydrogen . It also noted that higher energy costs are affecting the competitiveness of European producers of both stainless-steel and other items . Tubacex improved its EBITA by 39.3 % year on year in September 2023 , with a 21.8 % increase in sales . The Spanish company has a strong commitment to sustainability , specializing in hydrogen and CCUS ( carbon capture , utilization & storage ), as well as a secure position in the oil & gas and petrochemical sectors . Alleima ’ s Q3 2023 report indicates revenue increases of 8 % and organic growth of 5 %. The company is heavily invested in products for the oil & gas and chemical & petrochemical sectors and is also active in the hydrogen field . Van Leeuwen Pipe and Tube reported record sales and profit for 2022 . ( Its figures for 2023 are not yet available .) Vallourec reported good results for 2023 , with increased in sales volumes driven by higher shipments in North America and the Eastern Hemisphere . Other companies that are expanding include Ukraine ’ s Centravis which , despite difficulties in electrical supply and other disruptions caused by the war , is forging ahead with a new , fully automated production site in Uzhgorod in the west ; and South Korea ’ s SeAH , which is building a stainless-steel seamless pipes and tubes production facility in Saudi Arabia that will start operating in 2025 .
Traditional industries
Oil & gas The world ’ s thirst for energy is such that renewable energy installation scarcely seems to dent demand for oil and gas . Gas exploration and extraction is benefitting from the decreased availability of Russian gas . Among the most dynamic regions are Iraq , Brazilian pre-salt deepwater , Angola , and many others . Orders are pouring in for OCTG tubes from Alleima , Tenaris , and Vallourec , umbilicals from Alleima and Aker Solutions , and casing and tubing from Tenaris . Some of the recently announced projects are associated with decarbonization initiatives . For instance , TotalEnergies ’ Gas Growth Integrated Project in Iraq , of which Vallourec is a supplier , involves flared gas recovery for power generation , seawater treatment and a solar power plant . Oil & gas extraction often goes hand in hand with CCUS projects .
Chemical and petrochemical In the high-growth economies of the Middle East and Far East , chemical and petrochemical products are in great demand . This is why BASF is building
The Shell Appomattox deep-water asset prepares for successful production in May 2019 Gulf of Mexico , 80 miles southeast of the Louisiana Coastline , USA , 2018 . Photo © Allison Smith .
16 Stainless Steel World March 2024 www . stainless-steel-world . net