Amid the global trend toward carbon neutrality and energy transition, the Donald Trump administration's second-term policy to expand liquefied natural gas (LNG) exports is accelerating the pace of LNG carrier orders by global shipping companies. The demand is rapidly increasing due to the decarbonization strategies of major countries such as China, India, and Europe, the expansion of long-term contracts by JERA, Japan's largest electric power company, and efforts to avoid Russian natural gas. In addition, the Trump administration's announcement of the full-scale promotion of the Alaska LNG project is expected to further boost demand for related equipment, including stainless steel pipes (STS pipes).
According to market research firm Global Information (GI), the cumulative market size for LNG carriers from 2023 to 2038 is projected to reach approximately $3.6 trillion (5,000 trillion won).
As carbon neutrality and energy transition accelerate worldwide, STS pipe manufacturer Irem is ramping up its supply of highly corrosion-resistant STS pipes and accelerating its entry into the global market.
Irem plans to begin full-scale delivery in the third quarter after securing orders for STS pipes that meet the American Society for Testing and Materials (ASTM) standards through domestic clients. A representative from Irem explained, "Since the beginning of this year, we have been actively negotiating not only with domestic clients but also with major U.S. distributors, resulting in actual export sales from the second quarter."
This delivery of ASTM-standard products is regarded as a significant turning point for Irem's global market expansion. High-performance STS pipes are essential core materials in advanced infrastructure sectors such as hydrogen pipelines and offshore plants, as well as LNG carriers, due to the high corrosion resistance and structural stability required in cryogenic and high-pressure environments.
Based on its supply experience with Korea's top three shipbuilders, Irem plans to expand its cooperation with global engineering, procurement, and construction (EPC) companies and shipowners, including those in the United States. In particular, the company is strengthening its 'Spec-in strategy' by incorporating its products from the initial design stage to secure stable demand. In addition, Irem is enhancing its international competitiveness by holding major quality certifications such as KC, KS, JIS, CSIS, PED, ISO9001, as well as seven major global classification society certifications: KR, LR, BV, DNV-GL, RINA, RS, and NK.
A representative from Irem stated, "We plan to strengthen our strategic approach, focusing on logistics and energy infrastructure projects on the U.S. East and West Coasts," and added, "By additionally acquiring North American certifications such as UL, we will expand our foundation for supplying large-scale local projects."
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