Stainless Steel Plumbing Pipes & Fittings Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.93 Billion |
| Market Size (2029) | USD 5.77 Billion |
| CAGR (2024 - 2029) | 3.19 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Stainless Steel Plumbing Pipes & Fittings Market Analysis
The Stainless Steel Plumbing Pipes & Fittings Market size is estimated at USD 4.93 billion in 2024, and is expected to reach USD 5.77 billion by 2029, growing at a CAGR of 3.19% during the forecast period (2024-2029).
- Heightened demand in both residential and commercial sectors is driving the stainless-steel plumbing pipes and fittings market.
- Growing residential and nonresidential construction and rising renovation and remodeling projects are the major factors driving the demand for stainless-steel plumbing pipes and fittings.
- However, fluctuations in raw material prices and the availability of substitutes are expected to hinder the market's growth.
- Nevertheless, advancements in technology are expected to create new opportunities for the market studied.
- Asia-Pacific is expected to dominate the market, with the majority of demand coming from China and India.
Stainless Steel Plumbing Pipes & Fittings Market Trends
Nonresidential Industry to Dominate the Market
- The nonresidential sector, such as commercial spaces, requires durable and dependable materials. Stainless-steel plumbing pipes and fittings are in high demand for this purpose due to their strength, longevity, and corrosion resistance. Stainless-steel is frequently used in construction and has many other applications, including chemicals, medical, and food processing.
- Corrosive chemicals, including acids, alkalis, and solvents, are frequently transported via stainless-steel pipes in chemical processing businesses. In addition to delivering hot liquids like steam, stainless-steel plumbing pipes are also utilized to transport gases like oxygen and nitrogen. Due to their non-toxicity and non-reactivity, stainless-steel plumbing pipes are also used in the food processing industry.
- The United States holds the world's largest construction industry. According to the American Institute of Architects' (AIA) Construction Consensus Forecast Panel, the overall seasonally adjusted rate of nonresidential construction spending in 2023 showed an 18.1% increase year over year in November 2023. Driven by government policies such as the IIJA, IRA, and CHIPS legislation, US manufacturing construction spending dramatically surged with a 59.1% increase in 2023. Other markets showing robust growth included education (+16.7%), healthcare (+11.7%), and religious institutions (+31.1%).
- The Jingcheng Wafer and Integrated Circuit Packaging Plant Phase I, valued at USD 7,768 million, is underway in Beijing. This 12-inch wafer and integrated circuit packaging plant aims to cater to the region's surging demand for integrated circuit products. Construction began in Q1 2022, and completion is slated for Q4 2024.
- The Niseko Hotel project in Hokkaido, Japan, is another significant endeavor. Spanning 1.17 ha of land, the six-story hotel will feature 482 rooms across a 20,000 m² floor area. Construction commenced in Q3 2023, and it is projected to wrap up by Q4 2025.
- In India, a surge in demand for office space is evident, especially with the government's concerted efforts leading to a rise in recognized startups, tallying up to 1,17,254 as of December 2023, according to the Department for Promotion of Industry and Internal Trade (DPIIT).
- Given the rising population, the demand for new infrastructure and commercial spaces is set to grow, subsequently bolstering the stainless-steel plumbing pipes and fittings market.
Asia-Pacific Anticipated to Dominate the Market
- The stainless-steel plumbing pipes and fittings market in Asia-Pacific is poised for significant growth. This surge is primarily fueled by rising demand from both residential and commercial sectors. The growing population in the region is driving the rise in residential construction, further amplifying this demand. The heightened construction activities across the region are bolstering market expansion.
- As tourism and business travel flourish, the Asia-Pacific hotel construction market is witnessing rapid growth. The region's appetite for luxury hotels, resorts, and diverse hospitality services is driving this momentum. With an uptick in international travelers, the region's hotel development market continues to gain traction. This demand, especially for luxury accommodations and services, propels the broader construction market.
- Increased disposable incomes have led to a boom in upscale commercial spaces in Asia-Pacific, including malls and hotels. China stands out as a leader in shopping center construction, boasting nearly 4,000 existing centers and an estimated 7,000 more set to open by 2025.
- Japan is witnessing a surge in luxury apartment and residential complex constructions. For instance, Mitsubishi State is erecting the nation's tallest edifice, featuring 50 opulent apartments. Each apartment is projected to command a monthly rent of USD 43,000. Strategically located near Tokyo station, this ambitious project is slated for completion in 2027.
- According to Invest India, the availability of affordable housing in India is projected to surge by approximately 70% in 2024. Furthermore, India’s construction industry is on track to hit USD 1.4 trillion by 2025. With over 30% of the population expected to urbanize by 2030, there is a burgeoning demand for 25 million additional mid-end and affordable housing units.
- Given these dynamics, the demand for stainless-steel plumbing pipes and fittings in Asia-Pacific is set to rise during the forecast period.
Stainless Steel Plumbing Pipes & Fittings Industry Overview
The market for stainless-steel plumbing pipes and fittings is partially fragmented in nature. The major players include (not in any particular order) ArcelorMittal, Ferguson Enterprises Inc., Geberit Plumbing Technology India Private Limited, Nippon Steel Corporation, and JFE Steel Corporation.
Stainless Steel Plumbing Pipes & Fittings Market Leaders
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Nippon Steel Corporation
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JFE Steel Corporation
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Geberit Plumbing Technology India Private Limited
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ArcelorMittal
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Ferguson Enterprises, LLC
*Disclaimer: Major Players sorted in no particular order
Stainless Steel Plumbing Pipes & Fittings Market News
- February 2024: Venus Pipes & Tubes Ltd, a prominent manufacturer and exporter of stainless-steel pipes and tubes, is venturing into the fittings business. Concurrently, the company is expanding its capacity for both seamless and welded pipes and tubes. This expansion unfolds in two phases: the first phase, emphasizing value-added fittings and welded tubes, is set to wrap up by March 2025. Following that, the second phase will expand the capacity for value-added fittings and for both welded and seamless pipes or tubes, with a target completion date of December 2025.
- February 2024: The Texas Pipe Family of Companies inaugurated a new Texas Pipe & Supply branch in Tukwila, Washington. The newly established branch is in the process of stocking an extensive array of carbon and stainless-steel pipes, fittings, flanges, valves, and tubing products.
- April 2022: Jindal Stainless Limited (JSL) announced plans to expand the capacity of its steel plant to 25.2 MTPA at Angul, Odisha, by 2030. This capacity expansion is expected to increase JSPL's investment in Odisha to more than INR 1,25,000 crore (~USD 15,875 million) from INR 45,000 crore (~USD 5,715 million).
- February 2022: Maharashtra Seamless Ltd approved the acquisition of the remaining 41.82% stake of United Seamless Tubular Private Limited. This acquisition is expected to help the company consolidate its seamless pipes & tubes business.
Stainless Steel Plumbing Pipes & Fittings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Market Drivers
- 4.1.1 Growing Residential and Non-residential Industry
- 4.1.2 Rising Renovation and Remodeling Projects
- 4.1.3 Other Drivers
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4.2 Market Restraints
- 4.2.1 Fluctuations in Raw Material Prices
- 4.2.2 Availability of Substitutes
- 4.2.3 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 By Type
- 5.1.1 Seamless
- 5.1.2 Welded
- 5.1.3 Fabricated
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5.2 By Market Structure
- 5.2.1 Organized
- 5.2.2 Unorganized
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5.3 By End-user Industry
- 5.3.1 Residential
- 5.3.2 Non-residential
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5.4 By Sales Channel
- 5.4.1 Retail
- 5.4.2 E-commerce
- 5.4.3 Direct
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5.5 By Geography
- 5.5.1 Asia-Pacific
- 5.5.1.1 China
- 5.5.1.2 India
- 5.5.1.3 Japan
- 5.5.1.4 South Korea
- 5.5.1.5 Malaysia
- 5.5.1.6 Thailand
- 5.5.1.7 Indonesia
- 5.5.1.8 Vietnam
- 5.5.1.9 Rest of Asia-Pacific
- 5.5.2 North America
- 5.5.2.1 United States
- 5.5.2.2 Canada
- 5.5.2.3 Mexico
- 5.5.3 Europe
- 5.5.3.1 Germany
- 5.5.3.2 United Kingdom
- 5.5.3.3 France
- 5.5.3.4 Italy
- 5.5.3.5 Spain
- 5.5.3.6 NORDIC countries
- 5.5.3.7 Turkey
- 5.5.3.8 Russia
- 5.5.3.9 Rest of Europe
- 5.5.4 South America
- 5.5.4.1 Brazil
- 5.5.4.2 Argentina
- 5.5.4.3 Colombia
- 5.5.4.4 Rest of South America
- 5.5.5 Middle East and Africa
- 5.5.5.1 Saudi Arabia
- 5.5.5.2 Qatar
- 5.5.5.3 United Arab Emirates
- 5.5.5.4 Nigeria
- 5.5.5.5 Egypt
- 5.5.5.6 South Africa
- 5.5.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 American Stainless and Supply
- 6.4.2 APL Apollo
- 6.4.3 ArcelorMittal
- 6.4.4 Core Pipe Products Inc.
- 6.4.5 Ferguson Enterprises LLC
- 6.4.6 Geberit Plumbing Technology India Private Limited
- 6.4.7 Hengyang Valin Steel Tube Co. Ltd
- 6.4.8 JFE Steel Corporation
- 6.4.9 Jindal Stainless Ltd
- 6.4.10 Maharashtra Seamless Ltd
- 6.4.11 Merit Brass
- 6.4.12 Nippon Steel Corporation
- 6.4.13 Ratnamani Metals & Tubes Limited
- 6.4.14 Sachiya Steel International
- 6.4.15 Shaw Stainless & Alloy
- 6.4.16 Steel Tubes India
- 6.4.17 Umiya Tubes Limited
- 6.4.18 United States Fittings Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Advancements in Technology
Stainless Steel Plumbing Pipes & Fittings Industry Segmentation
Stainless-steel plumbing pipes are made of stainless steel, a metal alloy with at least 10.5% chromium that is exceptionally corrosion resistant. For various reasons, stainless-steel plumbing pipes are extensively used in home and commercial systems. They are long-lasting, corrosion-resistant, and reasonably simple to install. Furthermore, stainless-steel plumbing pipes come in a wide range of diameters and styles, making them suited for various applications. Pipe elbows, tees, stub ends, pipe bends, end caps, reducers, pipe crosses, saddles, and many other fittings are available.
The stainless-steel plumbing pipes and fittings market is segmented by type, market structure, end-user industry, sales channel, and geography. By type, the market is segmented into seamless, welded, and fabricated. By structure, the market is segmented into organized and unorganized. By end-user industry, the market is segmented into residential and nonresidential. By sales channel, the market is segmented into retail, e-commerce, and direct. The report also covers the market size and forecasts for 27 countries. For each segment, the market sizing and forecasts are provided on the basis of value (USD).
| By Type | Seamless | |
| Welded | ||
| Fabricated | ||
| By Market Structure | Organized | |
| Unorganized | ||
| By End-user Industry | Residential | |
| Non-residential | ||
| By Sales Channel | Retail | |
| E-commerce | ||
| Direct | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Malaysia | ||
| Thailand | ||
| Indonesia | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| NORDIC countries | ||
| Turkey | ||
| Russia | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| By Geography | Middle East and Africa | Saudi Arabia |
| Qatar | ||
| United Arab Emirates | ||
| Nigeria | ||
| Egypt | ||
| South Africa | ||
| Rest of Middle East and Africa |
Stainless Steel Plumbing Pipes & Fittings Market Research FAQs
How big is the Stainless Steel Plumbing Pipes & Fittings Market?
The Stainless Steel Plumbing Pipes & Fittings Market size is expected to reach USD 4.93 billion in 2024 and grow at a CAGR of 3.19% to reach USD 5.77 billion by 2029.
What is the current Stainless Steel Plumbing Pipes & Fittings Market size?
In 2024, the Stainless Steel Plumbing Pipes & Fittings Market size is expected to reach USD 4.93 billion.
Who are the key players in Stainless Steel Plumbing Pipes & Fittings Market?
Nippon Steel Corporation, JFE Steel Corporation, Geberit Plumbing Technology India Private Limited, ArcelorMittal and Ferguson Enterprises, LLC are the major companies operating in the Stainless Steel Plumbing Pipes & Fittings Market.
Which is the fastest growing region in Stainless Steel Plumbing Pipes & Fittings Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Stainless Steel Plumbing Pipes & Fittings Market?
In 2024, the North America accounts for the largest market share in Stainless Steel Plumbing Pipes & Fittings Market.
What years does this Stainless Steel Plumbing Pipes & Fittings Market cover, and what was the market size in 2023?
In 2023, the Stainless Steel Plumbing Pipes & Fittings Market size was estimated at USD 4.77 billion. The report covers the Stainless Steel Plumbing Pipes & Fittings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Stainless Steel Plumbing Pipes & Fittings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Stainless Steel Plumbing Pipes & Fittings Industry Report
Statistics for the 2024 Stainless Steel Plumbing Pipes & Fittings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Stainless Steel Plumbing Pipes & Fittings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
