Investors are preparing for investing in the global plastic pipes market since the aftermath of the long-term impact of COVID-19. Market Research Future finds that how pandemic can change the market’s growth stream. The research came to the point that a 5% CAGR of rate is recorded at which the market will regain its position and would achieve a valuation of ~ USD 40 billion in the years 2018–2023 (forecasted period).
Notable Developments
Around the world, huge amounts of money are currently being invested in the expansion of the pipes for multiple uses, from protecting the expensive cables against harmful environmental influences to many. In this case, cable protection pipes are used that are made of plastics. This is one example of how current megatrends plastic pipes are going round the world. In the present study, MRFR analyzes the entire world market for plastic pipes and its growth points.
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The global economic growth, escalating awareness of the benefits of plastic pipes, expansion in the construction industry, and growing maintenance and replacement of aging pipeline infrastructure will drive growth in the forecasted period. In fact, advances in plastic pipe and its soaring demand in Eastern and Western Europe are likely to accelerate throughout the year of 2023 as it is supported by recovering construction expenditure. The energy, agriculture, and industrial sectors lean to be less intensive users of plastic pipe than is construction. However, advancements in technology and plastic materials have helped plastic pipe amplify its share in many of these markets.
Case of a point: In oil and gas applications, plastic accounts a small share of the total pipe market, but escalating the use of some materials, such as fiberglass in oil pipelines and HDPE in natural gas distribution. This will support plastic pipe demand going forward.
On the contrary, the factors that could hinder the growth of the plastic pipes market in the future include reductions in free trade and rising environmental concerns regarding the use of plastics.
Segmentation of Market
In terms of the material segment, the market has included PE (HDPE and LDPE), PVC, PP, and others. The PVC segment might witness a noteworthy growth rate during the assessment period. PVC pipes have a extensive variety of applications in wastewater, drinking water, and oil & gas owing to properties such as cost-effectiveness, safety, durability, and recyclability.
In terms of end-use segment, the market has included irrigation, oil, and gas, as well as water and wastewater. The construction segment might display high growth during the assessment period. The construction industry in residential and non-residential is growing at a steady pace, and this has resulted in surged demand for raw materials in the construction industry. Here, pipes form a necessary part of the building and construction industry and find applications in HVAC systems, water & waste pipelines, gas pipelines, and others.
Regional Analysis
Growth in the global plastic pipe market and its demand will be robust in the developing countries of Africa, Asia, and South America owing to hard work to expand access for potable water and sewage systems. The market prospect for water and sewer systems is hefty, as an extensive share of the population in these regions does not have dependable access to drinking water supply or improved sanitation. The moderately low cost and ease of installation of the plastic pipe give it advantages over other pipe materials in these regions, resulting in grasping high market shares in the future as well.
Advances in plastic pipe demand in the developed regions of Eastern and Western Europe are likely to accelerate through 2019, supported by recovering construction expenditure. Also, the demand in both regions contracted following the global economic recession but began to recover in 2013.
Industry Players
The leading industry players include Wienerberger AG (Austria), Aliaxis Group S.A. (Belgium), JM Eagle, Inc. (US), Mexichem SAB de CV (Mexico), China Lesso Group Holdings Ltd. (China), Georg Fischer Ltd. (Switzerland), ASTRAL POLYTECHNIK LIMITED (India), Finolex Industries Ltd. (India), Geberit AG (Switzerland), and Hilliard, OH (US).
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