Global Copper Pipes And Tubes Market To Be Driven By The Rising Demand In Plumbing Applications In The Forecast Period Of 2021-2026
Expert Market Research’s new report titled Global Copper Pipes and Tubes Market Report and Forecast 2021-2026 provides an in-depth analysis of the global Copper Pipes and Tubes market and ranks the market based on its surface type, outside diameter, end use and major regions . The report tracks the latest trends in the industry and examines their impact on the overall market. It also assesses the market dynamics, covers the main demand and price indicators and analyzes the market based on the SWOT and Porter Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 5%
The growth in the global copper pipe and tube market is driven by the increasing demand in plumbing applications due to its superior cost effectiveness, reliability, recyclability and dependability over alternatives such as plastic and lead tubing. The growing demand for sustainable and environmentally friendly copper tubes and pipes, combined with demand from various application areas, has prompted manufacturers to focus on product technologies and the development of compact sizes and customization options. Additionally, their increasing use in air conditioning and refrigeration equipment, as well as other industrial equipment, has prompted manufacturers to offer custom solutions that allow them to produce bespoke copper tubing and tubing to meet specific customer specifications.
Industry definition and main segments
Copper is a metal that bends easily and has high resistance to corrosion. Copper pipes and tubes for industrial use have many advantages over the other metals. Copper’s corrosion resistance, intrinsic superiority in thermal conductivity, and strength have made it popular in a variety of industries.
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Based on surface type, the market is segmented into:
- LWC grooved
- straight length
- LWC level
Based on Outside Diameter the industry is segmented into:
- 3/8 inch
- ½ inch
- 5/8 inch
- ¾ inch
- 7/8 inch
- 1 inch
- over 1 inch
Based on end use, the market is segmented into:
- Industrial heat exchanger
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The main factor driving the expansion of the market is the increasing acceptance of copper tubing and tubing in the HVAC segment. Copper tubing and tubing is primarily used in HVAC due to advantages such as ease of handling, non-pyrogenic properties, and recyclability. The growing demand for e-vehicles and hybrid vehicles would also boost the market in the coming years. Electric vehicles and hybrid vehicles use more copper than regular cars. Due to numerous public works projects and subsidies, there appears to be an upward trend in electric vehicle purchases that will fuel the growth of copper tubes and pipes in the years to come.
Important market participants
The major players in the market include Furukawa Electric Co., Ltd, KME, Kobe Steel, Ltd., Luvata, MetTube, Mueller Industry, KMCT, among others. The report covers the market shares, capacities, asset turnover, expansions, investments and mergers and acquisitions among other latest developments of these market players.
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