I: Supply and demand trends in the domestic market
1.Trends in seamless steel pipe market:
(1) Stable demand in traditional fields:
Seamless steel pipe supply and demand trends such as oil, natural gas, chemical industry and other applications continues to grow steadily, and these industries require high quality and performance of seamless steel pipes, which drives the continuous development of the industry.
(2) Demand growth in emerging fields:
The rapid development of new energy, automotive lightweight and other emerging fields has further expanded the demand for seamless steel pipes. Especially in the field of new energy vehicles, seamless steel pipe as one of the key components of the material, its demand will increase with the increase in the production of new energy vehicles.
(3) Infrastructure and policy promotion:
With the acceleration of national infrastructure construction, especially in the field of pipe network renovation, water conservancy, electric power, etc., the demand for seamless steel pipe will remain resilient.
2, Supply and demand forecasts for seamless steel pipes:
(1) Excess capacity and shortage of high-end products co-exist: domestic seamless steel pipe production capacity is generally excessive, but the supply of high-end products is relatively tight.
The market competition for low-end and medium-end products is fierce, while the market supply of high-end seamless steel pipe products is insufficient.
(2) In 2024, market demand, production costs, and environmental protection policies have impacted seamless steel pipe production, causing it to decline to some extent.
In 2025, production capacity is expected to increase, but the room for production changes is limited. The annual production is projected to be around 30 million tonnes.
3, Market of seamless steel pipe price :
The average price of seamless steel pipe prices fell in 2024, with a significant decline in the third quarter, and the fourth quarter showed an upsurge and downsurge.
As of December 4, the national average price of seamless pipe was reported at 4706 yuan / tonne, down 166 yuan / tonne from the beginning of the year, down 292 yuan / tonne from the 2023 average price, down about 6.20%.
4, Seamless steel pipe market outlook:
(1) Demand resilience: in 2025, with the global economic recovery and domestic policy support, seamless steel pipe market demand is expected to rebound, especially in the emerging areas of the demand is still resilient.
(2) Industrial upgrading: In the future, the seamless steel pipe industry will pay more attention to sustainable development, increase environmental protection investment and achieve green production. Industry chain integration and collaborative development will become an important trend.
II: International market supply and demand trends
1,Market dynamics of seamless steel pipe:
(1) Emerging market growth: the global economic recovery and the development of emerging markets has driven the increasing market demand for seamless steel pipes, especially in Southeast Asia, Africa and other regions.
(2) Demand resilience in oil and gas: international oil and gas investment is hot, overseas demand for seamless steel pipe remains resilient, but need to be vigilant about the impact of rising trade protectionism on exports.
2, Supply-demand balance in seamless steel pipe industry:
(1) China’s export advantage: despite the fierce competition in the international market, China’s seamless steel pipe still has a price advantage in the international market, and it is expected that the export volume in 2025 will remain at about 5 million tonnes.
(2) Global capacity adjustment: the global seamless steel pipe capacity is gradually adjusting, the demand growth in some developed regions is slow, while the demand growth in emerging markets has become the main driving force.
3.Future Outlook for Seamless Steel Pipes:
(1) According to the latest market analysis, the seamless steel pipe supply and demand trends indicate strong growth potential in the coming years.
The global seamless steel pipe market is expected to reach RMB 660.123 billion (about USD 95 billion) by 2028, with an estimated compound annual growth rate (CAGR) of 5.99%.
(2) Technological innovation and application expansion: In the future, the seamless steel pipe industry will further expand its application in new energy, automotive lightweight and other emerging fields through technological innovation and industrial upgrading.