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Jun 07, 2025

Worldwide Stainless Steel Seamless Casing, Tubing, and Drill Oil or Gas Pipes Market: Expected to Reach 460K Tons in Volume and $4.1B in Value by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: World - Seamless Casing, Tubing and Drill Oil or Gas Pipes of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights.

The article discusses the projected growth of the stainless steel casing, tubing, and drill pipe market due to rising demand worldwide. With an expected CAGR of +1.3% in volume and +2.0% in value from 2024 to 2035, the market is poised for significant expansion over the next decade.

Driven by increasing demand for seamless casing, tubing and drill oil or gas pipes of stainless steel worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.3% for the period from 2024 to 2035, which is projected to bring the market volume to 460K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.0% for the period from 2024 to 2035, which is projected to bring the market value to $4.1B (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 398K tons of seamless casing, tubing and drill oil or gas pipes of stainless steel were consumed worldwide; growing by 7.1% compared with 2023. The total consumption volume increased at an average annual rate of +1.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption of attained the peak volume in 2024 and is likely to continue growth in years to come.

The size of the market for seamless casing, tubing and drill oil or gas pipes of stainless steel worldwide stood at $3.3B in 2024, increasing by 6.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a measured expansion. Over the period under review, the global market reached the peak level in 2024 and is expected to retain growth in years to come.

The countries with the highest volumes of consumption in 2024 were the UK (44K tons), Japan (35K tons) and the Netherlands (34K tons), together accounting for 28% of global consumption.

From 2013 to 2024, the biggest increases were recorded for the Netherlands (with a CAGR of +67.4%), while steel for the other global leaders experienced more modest paces of growth.

In value terms, the UK ($368M), Japan ($295M) and the Netherlands ($285M) constituted the countries with the highest levels of market value in 2024, with a combined 29% share of the global market.

The Netherlands, with a CAGR of +73.4%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while steel for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of seamless casing, tubing and drill oil or gas pipe of stainless steel per capita consumption in 2024 were Qatar (5.4 kg per person), Norway (4.1 kg per person) and the United Arab Emirates (2.2 kg per person).

From 2013 to 2024, the most notable rate of growth in terms of steel, amongst the key consuming countries, was attained by the Netherlands (with a CAGR of +66.7%), while steel for the other global leaders experienced more modest paces of growth.

After four years of growth, production of seamless casing, tubing and drill oil or gas pipes of stainless steel decreased by -4.4% to 411K tons in 2024. The total output volume increased at an average annual rate of +1.5% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 19%. Over the period under review, global production of attained the maximum volume at 430K tons in 2023, and then shrank modestly in the following year.

In value terms, production of seamless casing, tubing and drill oil or gas pipes of stainless steel rose notably to $3.8B in 2024 estimated in export price. In general, production, however, posted prominent growth. The growth pace was the most rapid in 2020 when the production volume increased by 43% against the previous year. Over the period under review, global production of reached the maximum level in 2024 and is likely to see steady growth in the near future.

Japan (209K tons) remains the largest seamless casing, tubing and drill oil or gas pipe of stainless steel producing country worldwide, accounting for 51% of total volume. Moreover, production of seamless casing, tubing and drill oil or gas pipes of stainless steel in Japan exceeded the figures recorded by the second-largest producer, the UK (39K tons), fivefold. The Netherlands (35K tons) ranked third in terms of total production with an 8.5% share.

In Japan, production of seamless casing, tubing and drill oil or gas pipes of stainless steel remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: the UK (-1.5% per year) and the Netherlands (+0.1% per year).

In 2024, approx. 284K tons of seamless casing, tubing and drill oil or gas pipes of stainless steel were imported worldwide; picking up by 13% against 2023. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 27% against the previous year. Over the period under review, global imports of attained the peak figure at 292K tons in 2020; however, from 2021 to 2024, imports failed to regain momentum.

In value terms, imports of seamless casing, tubing and drill oil or gas pipes of stainless steel expanded significantly to $2.4B in 2024. Over the period under review, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by 41% against the previous year. Over the period under review, global imports of attained the maximum in 2024 and are expected to retain growth in years to come.

The countries with the highest levels of imports of seamless casing, tubing and drill oil or gas pipes of stainless steel in 2024 were the United States (26K tons), Norway (24K tons), the United Arab Emirates (24K tons), Iraq (19K tons), Qatar (17K tons), China (16K tons), Singapore (16K tons), Saudi Arabia (13K tons) and the UK (11K tons), together amounting to 59% of total import. Azerbaijan (11K tons) took a little share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of +20.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Qatar ($298M), the United States ($288M) and Norway ($176M) appeared to be the countries with the highest levels of imports in 2024, together accounting for 32% of global imports. The United Arab Emirates, China, the UK, Iraq, Singapore, Azerbaijan and Saudi Arabia lagged somewhat behind, together accounting for a further 31%.

Iraq, with a CAGR of +26.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

In 2024, steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas (244K tons) was the key type of seamless casing, tubing and drill oil or gas pipes of stainless steel, making up 87% of total imports. It was distantly followed by steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas (37K tons), creating a 13% share of total imports.

Steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas was also the fastest-growing in terms of imports, with a CAGR of +2.6% from 2013 to 2024. steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas (-8.3%) illustrated a downward trend over the same period. From 2013 to 2024, the share of steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas increased by +21 percentage points.

In value terms, steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas ($2.2B) constitutes the largest type of seamless casing, tubing and drill oil or gas pipes of stainless steel imported worldwide, comprising 95% of global imports. The second position in the ranking was held by steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas ($126M), with a 5.3% share of global imports.

For steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas, imports expanded at an average annual rate of +7.2% over the period from 2013-2024.

The average import price for seamless casing, tubing and drill oil or gas pipes of stainless steel stood at $8,465 per ton in 2024, remaining constant against the previous year. In general, import price indicated prominent growth from 2013 to 2024: its price increased at an average annual rate of +5.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, import price for seamless casing, tubing and drill oil or gas pipes of stainless steel increased by +46.7% against 2018 indices. The pace of growth appeared the most rapid in 2023 an increase of 40%. Over the period under review, average import prices attained the maximum in 2024 and is likely to continue growth in years to come.

Prices varied noticeably by the product type; the product with the highest price was steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas ($9,152 per ton), while the price for steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas amounted to $3,353 per ton.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas (+4.5%).

In 2024, the average import price for seamless casing, tubing and drill oil or gas pipes of stainless steel amounted to $8,465 per ton, approximately mirroring the previous year. Overall, import price indicated a buoyant increase from 2013 to 2024: its price increased at an average annual rate of +5.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, import price for seamless casing, tubing and drill oil or gas pipes of stainless steel increased by +46.7% against 2018 indices. The most prominent rate of growth was recorded in 2023 an increase of 40% against the previous year. Over the period under review, average import prices reached the maximum in 2024 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Qatar ($17,989 per ton), while Saudi Arabia ($2,469 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Qatar (+18.0%), while the other global leaders experienced more modest paces of growth.

Global exports of seamless casing, tubing and drill oil or gas pipes of stainless steel shrank to 297K tons in 2024, dropping by -3.9% against 2023 figures. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of 27% against the previous year. Over the period under review, the global exports of hit record highs at 320K tons in 2014; however, from 2015 to 2024, the exports remained at a lower figure.

In value terms, exports of seamless casing, tubing and drill oil or gas pipes of stainless steel amounted to $2.5B in 2024. Overall, total exports indicated a perceptible increase from 2013 to 2024: its value increased at an average annual rate of +3.7% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +63.1% against 2021 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 41% against the previous year. Over the period under review, the global exports of attained the peak figure in 2024 and are likely to see steady growth in the near future.

Japan dominates steel structure, finishing at 174K tons, which was approx. 59% of total exports in 2024. It was distantly followed by Saudi Arabia (26K tons), constituting an 8.8% share of total exports. Singapore (12K tons), Indonesia (11K tons), China (9.1K tons), the United States (9K tons), the UK (7K tons), Sweden (5.4K tons) and Brazil (4.6K tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of exports of seamless casing, tubing and drill oil or gas pipes of stainless steel. At the same time, Sweden (+74.9%), Saudi Arabia (+60.9%), Brazil (+46.8%), China (+19.5%) and Indonesia (+3.1%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in the world, with a CAGR of +74.9% from 2013-2024. By contrast, the UK (-3.0%), the United States (-4.8%) and Singapore (-6.1%) illustrated a downward trend over the same period. Saudi Arabia (+8.8 p.p.), China (+2.6 p.p.), Sweden (+1.8 p.p.) and Brazil (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while the United States, Japan and Singapore saw its share reduced by -2.5%, -2.5% and -4.3% from 2013 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($1.5B) remains the largest seamless casing, tubing and drill oil or gas pipe of stainless steel supplier worldwide, comprising 58% of global exports. The second position in the ranking was taken by Sweden ($114M), with a 4.6% share of global exports. It was followed by the United States, with a 4.3% share.

In Japan, exports of seamless casing, tubing and drill oil or gas pipes of stainless steel increased at an average annual rate of +2.0% over the period from 2013-2024. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+83.7% per year) and the United States (+2.6% per year).

In 2024, steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas (250K tons) represented the key type of seamless casing, tubing and drill oil or gas pipes of stainless steel, making up 84% of total exports. It was distantly followed by steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas (48K tons), committing a 16% share of total exports.

Steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas experienced a relatively flat trend pattern with regard to volume of exports. Steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas experienced a relatively flat trend pattern. While the share of steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas (+1.5 p.p.) increased significantly in terms of the global exports from 2013-2024, the share of steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas (-1.5 p.p.) displayed negative dynamics.

In value terms, steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas ($2.4B) remains the largest type of seamless casing, tubing and drill oil or gas pipes of stainless steel supplied worldwide, comprising 95% of global exports. The second position in the ranking was held by steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas ($120M), with a 4.8% share of global exports.

From 2013 to 2024, the average annual rate of growth in terms of the value of steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas exports amounted to +4.3%.

In 2024, the average export price for seamless casing, tubing and drill oil or gas pipes of stainless steel amounted to $8,410 per ton, rising by 8.9% against the previous year. Over the period under review, export price indicated a temperate increase from 2013 to 2024: its price increased at an average annual rate of +3.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, export price for seamless casing, tubing and drill oil or gas pipes of stainless steel increased by +19.2% against 2020 indices. The most prominent rate of growth was recorded in 2023 when the average export price increased by 25%. Over the period under review, the average export prices hit record highs in 2024 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exported products. In 2024, the product with the highest price was steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas ($9,520 per ton), while the average price for exports of steel, stainless; seamless, drill pipe, of a kind used in drilling for oil or gas totaled $2,477 per ton.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by steel, stainless; seamless, casing and tubing, of a kind used in drilling for oil or gas (+3.6%).

In 2024, the average export price for seamless casing, tubing and drill oil or gas pipes of stainless steel amounted to $8,410 per ton, picking up by 8.9% against the previous year. Over the period under review, export price indicated a measured expansion from 2013 to 2024: its price increased at an average annual rate of +3.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, export price for seamless casing, tubing and drill oil or gas pipes of stainless steel increased by +19.2% against 2020 indices. The most prominent rate of growth was recorded in 2023 an increase of 25% against the previous year. The global export price peaked in 2024 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Sweden ($21,300 per ton), while Saudi Arabia ($37 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the UK (+11.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global market for seamless casing, tubing and drill oil or gas pipe of stainless steel. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Export

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles