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Size of the plastic pipe market
Global sales of plastic pipe surpassed $30 billion in 2018, according to a new PMR study
NEW YORK CITY, NEW YORK, UNITED STATES, June 23, 2022 /EINPresswire.com / — Persistence Market Research (PMR) has released a new market study on “Plastic Pipes Market” that includes 2014-2018 Global Industry Analysis and Forecast for 2019-2029. The report looks specifically at plastic pipes used in the construction industry, particularly in residential and non-industrial commercial applications. Generally, tubing is used for plumbing, heating and cooling, floor and waste, HVAC (ventilation, air conditioning), and other systems. Other industries such as oil and gas, agriculture and chemical also make prominent use of plastic tubing.
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In addition, the report offers an in-depth analysis of the plastic pipe market for the coming decade. The Plastic Pipes report summarizes macroeconomic factors that could support and influence the growth of the market as well as forecast factors. The market size approximated ~US$30 billion in revenue in 2018 and is expected to grow at a moderate CAGR of ~5% during the assessment period, largely driven by the cyclical trend of the construction industry and new product launches.
Construction and oil and gas exploration projects – a strong impetus
Countries like USA, India and China are major contributors to the growth of the construction industry including residential, commercial and industrial sectors and it is estimated that they will contribute more than 50% to the growth of the global construction industry in the near future. In turn, increasing onshore exploration activity and pipeline transport are expected to boost demand for pipes over the forecast period.
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More than 130 ongoing natural gas and transportation pipeline exploration projects in the United States are expected to be completed in the near future. The expansion of electronics and telecommunications has led to an increased demand for pipelines to protect underground cables. This global expansion of the electronics and telecommunications industry is expected to boost the demand for plastic tubing over the forecast period.
More than 50% of the world’s population lives in urban areas. According to the United Nations DESA website, this percentage is projected to rise to 66% by 2050, mostly in China and India. The growing urbanization is expected to increase the demand for the production of plastic pipes for various applications such as sewage drainage systems, gas pipelines and water pipelines, among others.
With increasing activity around municipal and industrial wastewater treatment, there is a growing global demand for a strong network of collection systems for combined sewers, separate sanitary sewers and industrial wastewater. The significant increase in urbanization is expected to further fuel the demand for plastic pipe in the near future.
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The plastic pipe market in Asia Pacific is thriving at a rapid pace
As water is an essential convenience, governments are taking initiatives to meet the increasing demand for water for household and agricultural purposes by installing new water supply networks. Hence, growing water management activities supported by government initiatives are expected to propel the growth of the plastic pipe market over the forecast period.
Increasing construction activity, particularly in the residential and commercial segments of the North America region, is expected to boost demand for plastic tubing for applications such as sewage, exhaust, plumbing and water piping. This is primarily due to the companies’ efforts to meet the increasing demand for tubes and gain access to the high-growth markets in the Asia-Pacific region. It is estimated that Asia-Pacific will hold a significant share of the global plastic pipe market in the forecast years, followed by North America.
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Plastic Pipes Market: Competitive Landscape
Some prominent market players involved in plastic pipe manufacturing are Aliaxis Group SA, Sekisui Chemical Co., Ltd., Wienerberger AG, JM Eagle, Inc., ASTRAL POLYTECHNIK LIMITED, China Lesso Group Holdings Ltd., Geberit AG, Nan Ya Plastics Corp., Finolex Industries Ltd., Chevron Phillips Chemical Company, Formosa Plastics Corporation, Georg Fischer Ltd., Advanced Drainage Systems Incorporated, Supreme Industries Ltd., Polypipe Group Plc, Prince Pipes & Fittings India Private Limited and AGRU Kunststofftechnik Gesellschaft MBH .
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