Metal Pipe & Tube Manufacturing in Canada - Market Research Report (2013-2028)
New York, United States
Last Updated: August 2023
NAICS 33121CARevenue
$6.3bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
6,566
Businesses
212
Wages
$XXX.Xm
Metal Pipe & Tube Manufacturing in Canada industry analysis
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.
Trends and Insights
- Canadian metal pipe and tube manufacturers have experienced greater demand over the past five years, despite fluctuations. Unstable hydrocarbon prices and inconsistent demand from the energy sector have negatively impacted the industry, but subsequent recovery post-COVID has started to rejuvenate profit and increase revenue.
- 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 reopening, oil and gas producers are ramping up production, increasing the need for these critical components used in drilling processes, subsequently bolstering their production rates.
- 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 manufacturing sectors and proximity to key downstream markets aids in reducing transportation costs and increases operational efficiency, thus fostering industry growth.
- Competition significantly hinges on price and product quality. The ability to predict raw steel price fluctuations and producing high-quality products, especially high-pressure steel pipes, provides players with a competitive advantage.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 1.3 % over the past five years, to reach an estimated $6.3bn in 2023.
Trends and Insights
Struggling through the pandemic — challenges faced by metal pipe and tube manufacturers
- COVID-19 significantly impacted this industry, with falling oil prices and decreased drilling activity causing reduced demand from the energy sector.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Economic recovery boosts pipe manufacturing
- The recovering economy is projected to propel demand for Canadian metal pipe and tube manufacturers over the next five years.
Biggest companies in the Metal Pipe & Tube Manufacturing in Canada
| Company | Market Share (%)
2023 | Revenue ($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 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
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.
Trends and Insights
Expanding applications for nonseamless, tubes and pipes with square or rectangular cross-section
- Nonseamless tubes and pipes with square or rectangular cross-section, made of iron or steel, are hollow structures produced using welding processes. These products are integral in numerous industries such as construction, infrastructure, furniture and automotive manufacturing.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Plastic Pipe & Parts Manufacturing in Canada
Complementors
- Iron & Steel Manufacturing in Canada
- Steel Rolling & Drawing in Canada
- Aluminum Manufacturing in Canada
International industries
- Metal Pipe & Tube Manufacturing in the US
- Steel Pipe and Tube Manufacturing in Australia
- Steel Tube, Pipe & Related Fitting Manufacturing in the UK
- Iron & Steel Casting in China
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Manufacturing drill pipes and pipe casingsManufacturing steel pipe productsManufacturing mechanical and structural tube and pipe productsCompanies
Tenaris SAFischer Canada Stainless Steel Tubing Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
TUBEPIPEGALVANIZINGPENSTOCKFERROUSIndustry Code
NAICS 331210 - Metal Pipe & Tube Manufacturing in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Canadian metal pipe and tube manufacturers have experienced greater demand over the past five years, despite fluctuations. Unstable hydrocarbon prices and inconsistent demand...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
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...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each province in 2023
- Number and share of revenue each province accounts for in 2023
- Number and share of wages each province accounts for in 2023
- Number and share of employees in each province in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Competition significantly hinges on price and product quality. The ability to predict raw steel price fluctuations and producing high-quality products, especially high-pressu...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
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...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Tenaris SA's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Fischer Canada Stainless Steel Tubing Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Tenaris SA, and factors influencing its performance in the industry
- Description and key data for Fischer Canada Stainless Steel Tubing Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturers, importers and dealers are contending with more stringent regulations. Canada is ramping up its energy efficiency regulations and businesses must adhere to all ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
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 ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Assets (2016-2021)
- Liabilities (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
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:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Metal Pipe & Tube Manufacturing industry in Canada in 2024?
The market size of the Metal Pipe & Tube Manufacturing industry in Canada is $6.3bn in 2024.
How many businesses are there in the Metal Pipe & Tube Manufacturing in Canada industry in 2023?
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.
Has the Metal Pipe & Tube Manufacturing industry in Canada grown or declined over the past 5 years?
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.
What is the forecast growth of the Metal Pipe & Tube Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Metal Pipe & Tube Manufacturing industry in Canada is expected to grow.
What are the biggest companies in the Metal Pipe & Tube Manufacturing market in Canada?
The biggest companies operating in the Metal Pipe & Tube Manufacturing market in Canada are Tenaris SA and Fischer Canada Stainless Steel Tubing Inc.
What does the Metal Pipe & Tube Manufacturing in Canada include?
Manufacturing drill pipes and pipe casings and Manufacturing steel pipe products are part of the Metal Pipe & Tube Manufacturing industry.
Which companies have the highest market share in the Metal Pipe & Tube Manufacturing in Canada?
The company holding the most market share in Canada is Tenaris SA.
How competitive is the Metal Pipe & Tube Manufacturing industry in Canada?
The level of competition is high and steady in the Metal Pipe & Tube Manufacturing industry in Canada.
