Southeast Asia Pipes Market Size, Share & Trends Analysis Report By Product, By Application, By End-use, By Country And Segment Forecasts, 2020
Southeast Asia Pipes market size, share and trend analysis report by product, by application (plumber, drainage / plumbing, HVAC), by end use (residential, commercial), by country and segment forecasts, 2020-2028
New York, September 06, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Southeast Asian Pipe Market Size, Share and Trend Analysis by Product, by Application, by End Use, by Country and Segment. known forecasts, 2020-2028 “- https://www.reportlinker.com/p06134863/?utm_source=GNW
Southeast Asia Pipe Market Growth and Trends
The Southeast Asia pipe market is projected to reach $ 24.8 billion by 2028. The market is expected to grow at a CAGR of 3.3% from 2020 to 2028. Growing investments in infrastructure development and the use of the product in building renovation are expected to drive industry growth in the forecast period.
Factors such as changes in commodity prices, strict government regulations on industrial processes, environmental policies, and product sustainability are likely to affect product manufacturers’ profit margins. Investors are exposed to a high degree of long-term risks due to possible disruptions in the demand for raw materials and fluctuations in oil prices on the world market.
The COVID-19 pandemic has severely affected the growth of the market in the region. Lockdown measures to contain the spread of the virus in multiple countries, as well as disrupting the global supply chain, have impacted most industries such as construction, food and chemicals.
In addition, complexities in the supply chain also led to a shortage of raw material supplies for the manufacture of pipes.
Southeast Asian Tubes Market Report Highlights
• The polypropylene tubing segment accounted for $ 4.5 billion of sales in 2020 due to its superior chemical resistance and lower thermal conductivity, which encourages its use in HVAC and drainage systems
• The Sanitary Applications segment is expected to generate sales of $ 5.6 billion by 2028 due to the growth of residential and commercial construction in the region due to the increasing adoption of the “China plus One” strategy by the major industry players
• The commercial sector accounted for 72.8% of sales in 2020 due to the high consumption of the product in water supply infrastructure, hospitals and industrial plants
• In Vietnam, a CAGR of 4.0% is expected from 2020 to 2028 due to increasing investments in the development of drainage and sewage systems in the country, driven by plans such as the rehabilitation of trenchless sewer pipes
• Manufacturers focus on the production of new products in order to strengthen their market position. For example, in March 2021, Wavin launched its advanced low-noise piping system Wavin AS + in Indonesia, which is currently experiencing significant urbanization and infrastructure development
Read the full report: https://www.reportlinker.com/p06134863/?utm_source=GNW
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