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India: Steel pipes market to grow at 7-8% CAGR

India is among one of the key producers and consumers of steel pipes and tubes in the Asia-Pacific region. India’s steel production crossed 110 million tonnes in fiscal 2020 and steel pipes contribution stood at around 8% of India’s steel consumption.
According to an estimate by rating agency CRISIL, steel pipes industry is expected to grow at a CAGR of 7-8% for the next five fiscals. It also estimated that structural pipe demand is expected to grow at 8-10% whereas SAW (Submerged Arc Welded) and Seamless pipes are likely to witness

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