Global Corrugated Stainless Steel Tube Market Size By Product Type (304 SS, 316 SS), By Application (Residential, Commercial), By Geographic Scope And Forecast
Published on: 2024-08-07 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Corrugated Stainless Steel Tube Market Size By Product Type (304 SS, 316 SS), By Application (Residential, Commercial), By Geographic Scope And Forecast
Corrugated Stainless Steel Tube Market Size And Forecast
Corrugated Stainless Steel Tube Market size was valued at USD 239.80 Million in 2023 and is projected to reach USD 350.15 Million by 2031, growing at a CAGR of 4.84% from 2024 to 2031.
The growing demand for CSST is particularly notable in areas experiencing urbanization. Positioned as a flexible and cost-effective solution, CSST is increasingly sought after for gas piping systems, driven by the surge in construction projects spanning residential and commercial structures. CSST, a stainless steel piping system, is adept at delivering natural gas and propane in various structures. Typically, standard CSST comes with a yellow plastic coating on its exterior. The global corrugated stainless steel tubing market is evolving due to ongoing advancements in material technology and manufacturing processes. Innovations in CSST production aim to enhance corrosion resistance, flexibility, and safety features. The adoption of advanced materials and improved manufacturing techniques is contributing to market growth. As industries prioritize high-quality and reliable gas distribution systems, the market for corrugated stainless steel tubing continues to expand, driven by the adoption of state-of-the-art CSST production methods.
Global Corrugated Stainless Steel Tube Market Definition
A corrugated stainless steel tube is a multi-layered hollow cylindrical object that is utilized as an alternative to typical steel piping as a medium for transporting gasses. This type of tubing, frequently abbreviated CSST, is primarily used in gas distribution businesses as well as residential and industrial commercial applications where gas heating, gas transport, and appliances are commonly used. Stainless Steel Corrugated Tube is usually used in heat exchange equipment. Compared with ordinary seamless steel pipes, stainless steel corrugated tube has a larger heat exchange area, smaller tube walls thermal resistance, and excellent heat transfer coefficient, so it is not stainless steel corrugated tube for heat exchanger is a new type of high-efficiency heat exchange tube that replaces the tube and has been widely used in heat exchange equipment.
Corrugated stainless steel tubes are becoming increasingly popular due to the numerous advantages it provides over other gas flow systems. Because stainless steel tubing is very corrosion resistant, it can be utilized for both volatile gasses and under pressure. The dual-layered tubing enables easy shaping and bending, reducing the requirement for stainless steel pipe fittings and other costly connectors while also lowering the risk of costly and potentially catastrophic gas leaks. CSST’s flexibility, lightweight, and smaller size also enable for easier installation, lowering labour expenses in addition to savings from reduced material utilization. The plastic outside coating is available in black or yellow to meet aesthetic requirements, although the rest of the tubing is located inside walls and thus is not visible.
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Global Corrugated Stainless Steel Tube Market Overview
The increasing demand for natural gas is expected to propel the growth of the stainless steel corrugated tubing market going forward. Natural gas is a naturally occurring mixture of gaseous hydrocarbons that mostly consist of methane with minor amounts of other higher alkanes. Natural gas distribution involves the transportation of natural gas through pipelines to end-users for various industrial, commercial, and residential applications, primarily for heating and power generation.
For instance, in March 2023, according to a report shared by the Energy Information Administration (EIA), a US-based government agency, the average daily consumption of natural gas in the US reached a historic high of 88.5 billion cubic feet per day in 2022. This marked a 5% increase compared to 2021, with natural gas usage totaling 4.5 billion cubic feet per day (Bcf/d). Furthermore, in 2022, U.S. end-user sectors accounted for 38% of the total natural gas consumption.
Also, natural gas consumption increased significantly, reaching 4037.5 billion cubic meters (bcm) in 2021, owing to the increasing demand for natural gas in multiple industries, including power generation and transportation. Therefore, the increasing demand for natural gas is driving the growth of the stainless steel corrugated tubing market going forward.
Stainless Steel is expensive to manufacture and the processes used to make the tubing and piping are also costly. Compared with other metals and alloys, stainless steel parts are more expensive. This could be a limiting factor. The assemblage of stainless steel parts may also be problematic. Wear and tear should be avoided when stainless steel nuts and bolts are assembled. When the fine chromium oxide protective coating is scraped away, a grunt is produced.
Another disadvantage of stainless steel pipes is their weight. Stainless steel pipes are much heavier than other types of pipes, such as those made from copper or plastic. This can make them difficult to transport and install. Stainless steel pipes are also susceptible to corrosion. This is because they are made from a metal that can rust or corrode when exposed to water or other liquids. If not properly cared for, corrosion can cause the pipe to leak or even burst.
Global Corrugated Stainless Steel Tube MarketSegmentation Analysis
The Global Corrugated Stainless Steel Tube Market is segmented based on Product Type, Application, and Geography.
Corrugated Stainless Steel Tube Market, By Type
- 304 SS
- 316 SS
Based on Type, the market is segmented into 304 SS and 316 SS. The 304 SS segment will have the highest market share. 304 stainless steel, also known as 18-8 stainless steel, is a versatile and widely used austenitic stainless steel alloy. Originally known as 18/8 stainless steel due to its nominal composition of 18% chromium and 8% nickel, the elemental content of 304 stainless steel is changeable. The 304 SS pipes are high in strength, with a minimum yield strength of 205 MPa, and provide sustainability with a basic tensile strength of 515 MPa. Type 304-grade stainless steel pipe is built in various shapes, such as round, square, and rectangular, and in various forms, including seamless and welded.
Stainless steel 304 seamless pipes are used in various fields, especially food processing, as they are not prone to acid corrosion found in common foods. Therefore, 304 steel is suitable for products such as dishwashers, food shop equipment, sinks, and refrigerators. Moreover, 304 stainless steel tubing can be used in heat exchangers, chemical tanks, and piping in the brewing industry. It can be used as a production material in places where high-temperature petroleum gases or vapors are stored, such as pressure vessels.
Corrugated Stainless Steel Tube Market, By Application
- Residential
- Commercial
- Industrial
Based on Application, the market is segmented into Residential, Commercial, and Industrial. The residential segment accounted the highest market share in the year 2023. Corrugated stainless steel tubing is a material being employed in place of traditional solid steel gas pipe to route gas from a main gas line in a home to a gas appliance, including a stove, clothes dryer, or gas fireplace. The flexibility of CSST allows for simpler routing through walls, ceilings, and around obstacles, reducing the need for extensive joints and fittings, facilitating faster installation, and minimizing the risk of leaks.
Corrugated stainless steel tubing is flexible tubing used to supply natural gas or propane in a home. CSST’s adaptability is particularly beneficial in retrofitting existing homes, where navigating tight spaces and existing structures can be challenging. Its flexibility allows for more straightforward integration into older buildings without major modifications. The corrosion-resistant properties of stainless steel enhance the longevity of corrugated stainless steel tubing, ensuring durability and longevity in residential gas distribution systems, which is crucial for maintaining the safety and integrity of the gas supply over an extended period. The reduced labor and time associated with CSST installation contribute to its cost-effectiveness, making it an attractive option for homeowners.
Corrugated Stainless Steel Tube Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East And Africa
Based on Geography, the Global Corrugated Stainless Steel Tube Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North American corrugated stainless steel tubing market is at the forefront of innovation and growth, propelled by a dynamic landscape. This growth is being driven by evolving construction practices, safety standards, and the rapid production of natural gas and propane. According to the Energy Information Administration (EIA), the United States now produces nearly all of the natural gas that it uses.
In 2022, U.S. dry natural gas production was about 36.35 trillion cubic feet (Tcf), an average of about 96.60 billion cubic feet per day and an annual record high. Moreover, most of the propane consumed in the United States is produced in North America. The United States propane exports averaged 1.5 million b/d in the first half of 2023, marking an 8% increase (119,000 b/d) compared with the first half of 2022 and playing a pivotal role in driving the export surge. The increased production of natural gas and propane raised the usage of corrugated stainless steel tubing, as these tubes are the standard for natural gas delivery within residential and commercial areas throughout the United States.
Key Players
The “Global Corrugated Stainless Steel Tube Market” study report will provide valuable insight with an emphasis on the global market including some of the major players of the industry are Gastite, Omega Flex, Inc., VPC Global, BRUGG Group, Pro-Flex, LLC, Parker Hannifin Corp, Shanghai Metal Corporation, Ward Manufacturing, LLC, Eurotis, and SST Group among others.
Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis. The competitive landscape section also includes market share analysis, key development strategies, recent developments, and market ranking analysis of the above-mentioned players globally.
Recent Development
In January 2023, Omega Flex, Inc. announced the launch of OMEGAFLEX COMMERCIAL SOLUTIONS, a website created to educate members of the plumbing, medical gas, and HVAC communities.
Report Scope
Report Attributes | Details |
---|---|
Study Period | 2020-2031 |
Base Year | 2023 |
Forecast Period | 2024-2031 |
Historical Period | 2020-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Gastite, Omega Flex, Inc., VPC Global, BRUGG Group, Pro-Flex, LLC, Parker Hannifin Corp, Shanghai Metal Corporation, Ward Manufacturing, LLC, Eurotis, and SST Group. |
Segments Covered |
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Customization scope | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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