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Demand for pipes will be stable in 2024

"Despite the global economic slowdown, strong demand for steel pipes is expected in 2024."

Demand for pipes will be stable in 2024

Despite the global economic slowdown, strong demand for steel pipes is expected in 2024. This was stated by TMK Global and Strategic Marketing Director Sergei Alekseev at the Russian Metals Market conference.

According to him, the demand for pipe products in the world and Russia will be supported by an increase in drilling penetration and investments in construction and infrastructure development. The leader of the pipe market is China, which this year increased its share from 22 to 27%, while increasing export volumes by 43%.

Speaking about the Russian pipe market, Sergey Alekseev noted increasing competition, in particular, capacity growth by 15% or 3.6 million tons by 2026 in the segments of seamless pipes, LDP and other welded pipes.

“More than 90% of market participants expect that demand for steel pipes will at least remain at a high level in 2024,” he noted.

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