Europe Considered to be a Lucrative Market for Pipes

For the forecast period 2022-2032, the global pipe market is expected to grow at a CAGR of 4.6% to reach a valuation of US$225.5 billion by the end of 2032 ), sewerage, water pipes, water supply pipes, irrigation , pipelines and various industrial plants.

The significant demand for tubes in various industries as well as the development of infrastructure in emerging countries are expected to boost the global demand for tubes. Sanitary pipes are primarily used in residential applications to transport potable water and sewage.

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Increasing application of metal tubing in commercial sector to increase sales by 5,553 million by 2032

Commercial buildings such as hospitals, schools, office buildings and retail stores often have specialized piping systems for different types of fluids. Industrial plants also have their own specific piping requirements depending on the type of manufacturing process taking place.

The increasing population indirectly shapes the infrastructure around the world. New construction and further construction require piping systems, which in turn should boost demand for pipes in the years to come.

The market is growing due to increasing demand for new build extensions and project investments in developing countries. The commercial segment is expected to hold the largest share and expand at the highest CAGR during the forecast period.

Important insights from the market study

• By material type, the metals segment is expected to grow at a CAGR of 8% during the forecast period.

• In terms of diameter, the metal segment is expected to dominate the tube market and continue to account for around 4% of the market share.

• Through end use, the commercial segment is projected to create an absolute dollar opportunity valued at $67 billion over the forecast period.

• In terms of region, tube sales in Europe are estimated to grow at a CAGR of 7% over the forecast period (2022-2032).

“Increasing development of residential and commercial infrastructure combined with growing construction activity, particularly in developing countries like India and China, will create worthwhile growth opportunities for pipe manufacturers.” says an analyst from Future Market Insights.

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Global competitive landscape in the Pipes market

Major industry players include Orbia Advance Corp, ASTRAL POLYTECHNIK Ltd., Geberit AG, Finolex Industries Ltd., Formosa Plastic Corporation, Nan Ya Plastics Corp., Advanced Drainage Systems Incorporated, Polypipe Group Plc, AGRU Kunststofftechnik Gesellschaft MBH, FRANK GmbH , Contech Engineered Solutions LLC, Wienerberger AG, Mexichem SAB de CV and others.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR-certified market research firm and member of the Greater New York Chamber of Commerce) provides in-depth insights into the determinants driving demand in the market. It reveals opportunities that will favor market growth in various segments based on source, application, distribution channel and end-use over the next 10 years.

This version was published on openPR.

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