Global Plastic Pipes Market to Post 5% CAGR Between 2019 and 2023
Demand for plastic pipes continue to growth due to the expansion of end-use industries. As per the report published by Market Research Future (MRFR), the global plastic pipes market is expected to surge at a CAGR of 5% during the forecast period (2018–2023). The market is expected to touch a valuation of USD 40 Bn by the year 2023.
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Plastic pipes are a popular all over the world. They are used in a broad spectrum of industries. The corrosion resistance characteristics of plastic pipes makes them a sough-after material. Moreover, they are pocket-friendly, lightweight and durably which makes them an apt piping solution. Such pipes also come of impressive insulation qualities hence are used for transportation of various types of liquids include water and oil.
Industries such as chemical, water wastewater, agriculture and oil gas post tremendous demand for plastic pipes. Especially, the oil gas industry and the construction industry have emerged as the major contributor to the market in terms of revenue. As new oil gas pipelines are being laid and water supply system infrastructures are upgraded, the global plastic pipes market is witness further growth.
Global Plastic Pipes Market: Competition Analysis
- Wienerberger AG (Austria)
- JM Eagle, Inc. (US)
- China Lesso Group Holdings Ltd. (China)
- Finolex Industries Ltd. (India)
- Aliaxis Group S.A. (Belgium)
- Hilliard, OH (US)
- Mexichem SAB de CV (Mexico)
- Geberit AG (Switzerland)
- ASTRAL POLYTECHNIK LIMITED (India)
- Georg Fischer Ltd. (Switzerland)
Global Plastic Pipes Market: Segmental Analysis
The segmental analysis of the market has been conducted on the basis of end-use and material.
Based on end-use, the market has been segmented into water and wastewater, construction, chemicals, irrigation and oil and gas. The construction segment is anticipated to remain highly profitable during the assessment period. The construction segment covers non-residential and residential construction. The construction industry has continued to grow at a steady pace over the years. Countries such as India and China are undergoing tremendous infrastructural expansion which has bolstered the construction sector in these countries. Pipes are a common construction material in gas pipelines, HVAC systems, water waste pipelines, etc.
Based on material, the market has been segmented into PP, PE (HDPE, and LDPE), PVC and others. The PVC segment is expected to exhibit a healthy growth during the projection period. PVC pipe are widely used in waste water system, drinking water system and oil gas. Attributes such as durability, cost-effectiveness, safety and recyclability make them a preferred option for applications aforementioned. Plastic pipes find a host of applications where non-corrosive characteristic is a mush-have.
Global Plastic Pipes Market: Regional Analysis
On the basis of region, the market has been segmented into Asia Pacific (APAC), Europe, North America, rest of the world (RoW). North America represents one of the largest markets for plastic pipes globally. North America currently hold the top position in the global plastic pipes market and is likely to maintain its position throughout the assessment period. The US continues to be the prime destination for market players operating in the region. In terms of revenue, the US makes a significant contribution to the market in North America.
Asia Pacific in second the pecking order. The market in APAC is expected to capture an impressive growth rate over 2023. Factors such as increased agricultural activities and tremendous industrial growth are propelling the market in APAC. Increased efforts towards oil and gas exploration in many APAC countries is also viewed as an important driver of the APAC plastic pipes. Demand for plastic pipes is expected to grow further in APAC over the next several years.
Get More Information on Plastic Pipes Market Research Report – Global Forecast till 2023 @
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