The copper pipe and tubing market size is estimated to reach US$32.0 billion by 2027, growing at a CAGR of around 4.2% from 2022 to 2027.
HYDERABAD, TELANGANA, INDIA, September 12, 2022 /EINPresswire.com/ — copper pipes and tubes market size is estimated to reach US$32.0 billion by 2027, growing at a CAGR of approximately 4.2% from 2022 to 2027. Copper pipes and tubes are strong, corrosion resistant, antibacterial , durable and good electrical conductor, thus used for various -use industries. Copper pipes and tubes are used in HVAC units, plumbing, heat exchange equipment and others. In addition, the increasing application of copper pipe and tubing in medical, construction, electronics and other industries due to its superior strength, thermal conductivity and other characteristics will provide significant growth in the industry. copper pipe and tubing industry over the forecast period.
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Key points to remember:
1. The market size of copper pipe and tubing will increase due to high demand in heat exchange systems, oil and gas transmission, plumbing, medical gas and other applications focused on the construction during the forecast period.
2. Asia-Pacific held the largest market share in the copper pipe and tubing industry due to increase in residential construction projects, development of energy-efficient air conditioning, and growth in automobile production in this region.
3. The demand for HVAC and refrigeration systems is high in both commercial and residential sectors, thereby driving the growth of the copper pipes and tubes market.
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1. The demand for copper pipe and tubing is high for HVAC and refrigerant applications due to its superior properties such as thermal conductivity, corrosion resistance, rapid heat transfer and machinability in the construction activities. It offers antibacterial and antimicrobial characteristics for use in HVAC units and refrigeration systems. Thus, with high demand for energy efficient HVAC and refrigeration systems, the market for copper pipes and tubes will rise during the forecast period.
2. By geography, Asia-Pacific segment is the fastest growing region in the copper tubing and pipe market and will grow by more than 4.9% during the forecast period. Growth in automobile production is expected to drive demand from the copper pipe and tube industry. According to the Society of Indian Automobile Manufactures (SIAM), the total vehicle production for 2020-2021 was 22.65 million vehicles in India.
3. Copper pipes and tubes have increasing applications in HVAC units in various buildings, fire sprinkler systems, offices and commercial sectors due to its malleability, non-pyrogenic characteristics, recyclability and others. Copper piping and tubing for water pipe system in buildings, vacuum systems, home water supply and others influence the demand for copper pipe and tubing in the construction industry.
The top 5 players in the copper tubing and pipe industry are:
1.Global Brass and Copper Holdings, Inc.
2. Mueller Industries, Inc.
3. Aurubis SA
4. Farukawa Electric Co.Ltd.
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