The worldwide market of Global Industrial Tubes to grow at a significant CAGR from 2019 to 2025 due to the increase in the growth of pharmaceutical and chemical industry as per the report of Precision Business Insights. The growing demand for power and energy is also a driving force behind the increased demand for industrial tubes market. The rise in prices of the industrial tube is driving the market growth of the industrial tubes.
The market of global industrial tubes is segmented on the basis of Type, End-user, Manufacturing type, and Material. On the basis of material, the market is segmented into steel and non-steel type. Steel is expected to dominate the global market due to its durability, corrosion resistance, chemical resistance, strength, and other properties. Steel is extensively used in the in manufacturing industrial tubes which are used in different industries. The steel segment is expected to see the highest growth rate among all the types of industrial tubes.
The market is segmented on the base of end-users and type of industrial tubes. The market is expected to be dominated by automotive, chemical, oil & gas and petrochemical industries. North America is the largest consumer of Industrial tubes which is flowed closely by the Asia Pacific. Various regions are covered in the report along with factors affecting the market of Industrial Tubes.