According to the Economic and Steel Market Outlook 2025-2026/Q1 2025 Report from the Economic Committee of the European Steel Association (EUROFER), in the third quarter of the last year the output of the EU steel tube industry declined by 3.3 percent year on year, after a 3.4 percent decrease in the previous quarter.
According to the EUROFER report, in the longer term, demand for large welded tubes from the oil and gas sector is not expected to improve substantially as the EU has accelerated its transition towards LNG shipping for its energy needs, thereby reducing its reliance on gas transported via pipelines. Oil demand is expected to keep declining throughout the rest of 2024 in the EU, aligning with low economic growth expectations.
EUROFER stated that production in the EU steel tube sector is expected to decrease by three percent in 2024. As for 2025, tube output is forecast to grow by 0.3 percent year on year.