Executive Summary. The GCC Stainless Steel Pipes and Tubes market was valued at USD 1671.32 Million in 2021 and is expected to grow at a CAGR of 5.38% during the forecast period of 2023-2028.

New York, March 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GCC Stainless Steel Pipes and Tubes Market - Analysis By Value and Volume, Product Type, Application, By Country : Market Size, Insights, Competition, Covid-19 Impact and Forecast" - https://www.reportlinker.com/p06426547/?utm_source=GNW The market for stainless steel pipes and tubes is driven by its properties, rising infrastructural spending backed by increasing GDP, and a high number of oil reserves in the region. As per OPEC analysis, GCC countries account for 25% of crude oil production. GCC countries have combined proven reserves of 497 billion barrels of crude oil, representing approximately 34% of the world’s estimated proven crude oil reserves. The increasing demand and production of oil and gas in the region in recent years gave rise to several seamless pipeline projects and reducing carbon footprint by up to 40%. Seamless stainless steel pipes are finished to dimensional and wall thickness specifications in sizes from 1/8 inch to 26 inch OD, suitable for high pressure applications in the oil and gas sector, hydrocarbon industries and refineries. There are currently more than USD 2.3 trillion of known planned and un-awarded projects in the pipeline in the GCC. With the construction sector in the GCC markets booming due to the ever-increasing investments into mega projects in Saudi and UAE, the demand for stainless steel pipes and tubes is expected to grow consistently, post Covid pandemic period. Among GCC countries, Saudi Arabia is the leader in steel production. In the Kingdom, Neom (the Kingdom’s flagship project), the Red Sea Project, and Qiddiya (the capital of entertainment) are some of the key mega projects shaping the infrastructure and construction roadmap. For instance, Saudi Vision 2030 is a government plan to reduce the country’s dependence on oil and diversify its economy via large investments providing steel companies such as Al-Jazera, Rezayat Group, with high demand for stainless steel pipes and tubes. Moreover, Qatar, Kuwait, and Bahrain have a large pipeline of projects that include expansions to oil and gas sector production capacity, new residential and commercial real estate, upgrades to transport, power, and water systems and major industrial developments. For instance, MAN Industries (India) Limited has been awarded an order worth USD 209 million from Kuwait that will supply 170,000 Tons of HSAW and LSAW pipes to the Gulf state. As a result, manufacturers can meet a wide range of distinct demands by using various alloy mix proportions and offering a variety of shapes for various purposes. Scope of the Report • The report analyses the GCC Stainless Steel Pipes and Tubes Market by Value (USD Million) and Volume (Million Tonnes). • The report presents the GCC Stainless Steel Pipes and Tubes market analysis for the historical period of 2018-2021, the base year 2022 and the forecast period of 2023-2028. • The report analyses the Stainless Steel Pipes and Tubes Market by Product Type (Seamless, ERW, HSAW, LSAW). • The report analyses the Stainless Steel Pipes and Tubes Market By Application (Oil & Gas, Automotive, Building and Infrastructure, Energy, Chemicals and Petrochemicals, Others. • The GCC Stainless Steel Pipes and Tubes Market has been analysed by Countries (Saudi Arabia, UAE, Kuwait, Qatar, Oman, Bahrain). • The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. • Also, the major opportunities, trends, drivers, and challenges of the industry have been analyzed in the report. • The companies profiled in the report include TSI Metal Industries, JFE Steel Corporation, Arabian Pipes Co., ADPICO, EEW Group, ARCELOR MITTAL, TMK Group, AL Jazeera Steel, Gerab National Enterprises, Welspun Corp Limited. Key Target Audience • Stainless Steel Pipes and Tubes manufacturers • Construction Industry • Consulting and Advisory Firms • Research and Development Organizations • Government and Regulatory Authorities Read the full report: https://www.reportlinker.com/p06426547/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________

As the Fed raises interest rates, here are the biggest winners and losers from its latest decision.

Based on the average brokerage recommendation (ABR), NIO Inc. (NIO) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric. So, is the stock worth buying?

The market's bubble has now "burst," and will impact "everything everywhere all at once" in the U.S. economy, economists Stephanie Pomboy and Art Laffer argue.

The legendary investor published a chart which quantifies the uninsured clients and unrealized capital losses for major regional banks.

US semiconductor company Marvell Technology is laying off its entire research and development team in mainland China, about five months after the firm initiated job cuts to scale down its operations in the world's largest chip market. Santa Clara, California-based Marvell said it is eliminating about 320 jobs, or 4 per cent of its global workforce, in response to what the company described as an industry slowdown, according to a statement from the firm on Wednesday. "We are streamlining our orga

U.S. motorists face a repeat of last summer's high gasoline prices, analysts warned on Wednesday, with fuel stockpiles heading towards multi-year lows ahead of the peak summer driving season that begins in two months. Retail gasoline prices, now averaging $3.44 a gallon nationwide, hit a record $5.02 a gallon last June as crude oil prices jumped on Russia's invasion of Ukraine and the waning of COVID-19 travel curbs unleashed pent up travel demand. Vehicle travel in the U.S. started the year 5.6% higher than last year, leading to a drop in gasoline stockpiles for five straight weeks.

Wolfe Research analyst Nigel Coe took a look at what GE Aerospace and GE Vernova will be worth on a stand-alone basis. GE Vernova, GE's power generation businesses, are due to be spun out in early 2024.

Nvidia ‘s latest rally has the stock less than $10 billion away from passing Berkshire Hathaway to become the fifth largest by market capitalization. At that point Nvidia stock had fallen 62% from the start of 2022 through its low on Oct. 14, leaving it with a market cap of just $279.6 billion, as worries about the chip sector and valuation weighed on the shares. Berkshire, on the other hand, dropped 12% through its own low on Oct. 12, when it was valued at $588.5 billion.

Being profitable on paper belies the tough situation for GameStop.

Abel, who heads the non-insurance operations of Berkshire (ticker: BRK.A, BRK.B), purchased 55 class A shares at a price of $447,259 on Friday, lifting his stake in the A shares to 228 shares. Berkshire shares rose 1% Tuesday to $460,515, and the B shares gained 0.9% to $303.85. The purchases were made on behalf of the Gregory Abel Revocable Trust on behalf of his wife, children, and other family members.

(Bloomberg) -- A recession is certain and so are rate cuts this year. That’s the message from the bond market metric Federal Reserve Chairman Jerome Powell highlighted a year ago as the best guide to tip-off economic troubles in the US.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionBomb Threat Called In to New York Court Where Trump Hearing HeldA New Chapter of Capitalism Emerges From the Banking Cri

Before this sale, ARK Invest owned 9.9 million shares of the crypto exchange worth $575 million.

Chinese stocks have rebounded with Covid curbs over, but U.S.-China tensions are a concern. Several stocks are showing promising action.

A "bull case" scenario for the shares of beleaguered First Republic Bank as it considers its options became more difficult on Wednesday after Treasury Secretary Janet Yellen said there is no discussion on insurance for all bank deposits without approval from the U.S. Congress. First Republic, whose shares have lost much of their value since the banking crisis started in the U.S. on March 8, is among banks speaking to peers and investment firms about potential deals in the wake of U.S. regulators' taking over Silicon Valley Bank and Signature Bank following bank runs. Morgan Stanley analyst Manan Gosalia, in a report earlier this week, set a target price of $54 for First Republic shares in a best-case scenario.

Work at home? Work at the office? It makes no difference, according to a Gallup poll.

Elon Musk on late Monday offered his opinion on what the Federal Reserve should do with its benchmark interest rate. The Fed's FOMC is meeting for two days this week.

(Bloomberg) -- European stocks fell as investors awaited key rates decisions in the region. US equity futures climbed, signaling a recovery following a tumultuous day of losses on Wall Street Wednesday.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionBomb Threat Called In to New York Court Where Trump Hearing HeldA New Chapter of Capitalism Emerges From the Banking CrisisStocks Roiled by Fed Day’s Nerv

Regional bank stocks are on edge right now, and Treasury Secretary Janet Yellen's comments about deposits were enough to fray investors' nerves a little more.

The same dynamics that have left some banks reeling have handed taxpayers a windfall. The Fed will have to navigate them, David Beckworth writes.

(Bloomberg) -- Tencent Holdings Ltd. jumped its most in three weeks after the Chinese social media leader reported a resumption in revenue growth, fueling hopes of a Chinese economic recovery and looser regulatory environment in 2023.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionBomb Threat Called In to New York Court Where Trump Hearing HeldA New Chapter of Capitalism Emerges From the Banking Crisi