$6.3bn
$XXX.Xm
6,566
212
$XXX.Xm
The Canadian Metal Pipe and Tube Manufacturing industry has experienced fluctuations but, overall, has experienced moderately greater demand over the past five years. Factors such as volatile hydrocarbon prices and unstable demand from the energy sector has negatively impacted the industry performance. Unpredictable steel prices also disrupted operations as companies found it challenging to transfer costs to customers; consequently, the industry's profit margin varied during this period. However, since the onset of economic recovery post-COVID, profit has started to rise. Despite the challenges amplified by the pandemic, industry revenue has grown at a CAGR of 1.3%, reaching $6.3 billion by 2023, including an increase of 5.8% in 2023 alone despite a significant dip in global steel prices.The industry's reliance on imports has remained significant and is expected to account for more than one-quarter of domestic demand in 2023. Canadian reliance on metal pipe and tube imports, mainly from China, the United States, and South Korea, has decreased due to increased domestic production and pandemic-led trade disruptions. Despite a dip in 2020 due to supply chain issues, Canadian exports, primarily to the US, surged in 2021 as global economies recovered despite a strengthening Canadian dollar.In the next five years, demand will likely remain in line with the current period, despite the Canadian economy projected to recover post-pandemic. High anticipated Canadian oil prices may encourage domestic and foreign petroleum companies to invest in new drilling machinery and equipment; this could potentially rejuvenate demand for tubular goods and other high-margin seamless pipe products. Nevertheless, global steel prices are anticipated to fall, which may curb growth and necessitate manufacturers to cut prices. Despite these headwinds, industry revenue is expected to grow at a CAGR of 1.4% to $6.8 billion by 2028.
Industry revenue has grown at a CAGR of 1.3 % over the past five years, to reach an estimated $6.3bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Tenaris SA | 1,321.4 | 363.3 | 27.5 | |
Fischer Canada Stainless Steel Tubing Inc. | 66.2 | N/A | N/A |
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Metal Pipe & Tube Manufacturing in Canada
Industry revenue is measured across several distinct product and services lines, including Nonseamless tubes and pipes with square or rectangular cross-section, Nonseamless tubes and pipes with circular cross-section and Nonseamless casing and tubing used in drilling for oil and gas. Nonseamless tubes and pipes with square or rectangular cross-section is the largest segment of the Metal Pipe & Tube Manufacturing in Canada.
Expanding applications for nonseamless, tubes and pipes with square or rectangular cross-section
The Metal Pipe and Tube Manufacturing industry in Canada includes standalone manufacturers of welded, riveted or seamless pipes or tubes made from iron or steel. Steel is purchased as an input material for the manufacturing process, generally in coil or billet form.
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NAICS 331210 - Metal Pipe & Tube Manufacturing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Canadian metal pipe and tube manufacturers have experienced greater demand over the past five years, despite fluctuations. Unstable hydrocarbon prices and inconsistent demand...
Learn about an industry's products and services, markets and trends in international trade.
The energy sector’s rising demand for nonseamless casing and tubing has aided recovery and growth of metal pipe and tube manufacturers post-COVID. With the global economy reo...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Ontario is the central hub for Canada's metal pipe and tube manufacturing due to its strategic location. The province's advantageous positioning due to its diverse manufactur...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition significantly hinges on price and product quality. The ability to predict raw steel price fluctuations and producing high-quality products, especially high-pressu...
Learn about the performance of the top companies in the industry.
The Canadian Metal Pipe and Tube Manufacturing industry is characterized by small businesses. This is partly due to high levels of capital intensity, revenue volatility and i...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers, importers and dealers are contending with more stringent regulations. Canada is ramping up its energy efficiency regulations and businesses must adhere to all ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Industry profit is expected to increase, despite numerous global challenges. This indicates that the industry's resilience has enabled it to effectively navigate through the ...
Including values and annual change:
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Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Metal Pipe & Tube Manufacturing industry in Canada is $6.3bn in 2024.
There are 212 businesses in the Metal Pipe & Tube Manufacturing industry in Canada, which has grown at a CAGR of 3.8 % between 2018 and 2023.
The market size of the Metal Pipe & Tube Manufacturing industry in Canada has been growing at a CAGR of 1.3 % between 2018 and 2023.
Over the next five years, the Metal Pipe & Tube Manufacturing industry in Canada is expected to grow.
The biggest companies operating in the Metal Pipe & Tube Manufacturing market in Canada are Tenaris SA and Fischer Canada Stainless Steel Tubing Inc.
Manufacturing drill pipes and pipe casings and Manufacturing steel pipe products are part of the Metal Pipe & Tube Manufacturing industry.
The company holding the most market share in Canada is Tenaris SA.
The level of competition is high and steady in the Metal Pipe & Tube Manufacturing industry in Canada.