Page 8 - ITAtube Journal 3 2025

Market information
Dr. Gunther Voswinckel, VOSCO GmbH
World Tube & Pipe Market: Factors
influencing the current situation
Dr. Gunther Voswinckel – Update as per December 2025
Welcome to ITA’s and VOSCO´s regular
presentation of the main worldwide
economic factors influencing the tube
and pipe industry.
The US government intends to con-
tinue expanding oil and gas production,
sustaining demand for OCTG tubes
and pipelines in the US. OPEC+ has
increased oil production this year. The
Middle East conflict has eased, reducing
fears of regional oil and gas shortages.
Consequently, oil and gas prices have
declined. Ongoing global demand for oil
and gas, its transmission via pipelines,
and demand for cars, machinery, and
construction - especially in regions with
high GDP growth - will support demand
for tubular products.
New market segments such as CCUS
(carbon capture and storage) and
hydrogen pipelines will generate addi-
tional demand for tubular products,
requiring larger quantities of high-
er-alloyed and stainless-steel tubes.
The shift toward customer-centred
production will continue to influence
the landscape for tube manufacturers.
Raw material prices for steel and pipe
markets appear to have stabilized, but
markets remain nervous with potential
for volatility.
A potential risk arises if climate-change
policies are not implemented with
balance, potentially shifting energy-in-
tensive industries to regions with lower
energy costs. Nevertheless, supply-de-
mand balance in the pipe industry
has largely been restored, resulting in
calmer price volatility.
The shift to environmentally friendly
pipe production with a low carbon
footprint has gained importance. Pipe
manufacturers are converting facilities
from gas to electricity. Geopolitical and
logistical risks, as well as current and
future energy costs, are central consid-
erations.
Regions such as the USA, India, Turkey,
the Middle East, and China benefit from
lower energy costs. Political interven-
tions and regulations increasingly influ-
ence industry strategies. The dynamic
nature of developments makes timely
responses challenging. Some manu-
facturers are reducing involvement
in high-cost regions like Europe due
to high costs, while seeking political
countermeasures to offset cost disad-
vantages.
All supply sources are under scrutiny;
there is hope that international trade
will not be adversely affected.
Disruptive times also create opportuni-
ties: beyond oil and gas, new markets
such as electromobility, produc-
tion-site productivity improvements,
and enhanced customer service tied
to environmentally friendly practices
offer opportunities. Skilled personnel
8 ITAtube Journal December 2025
Figure 1: Selected spot prices of industrial electrical
energy until November 2025 in €/MWh
Source: Kallanish.com, Statista.com