NEW YORK CITY, USA, April 28, 2022 /EINPresswire.com/ — Persistence Market Research (PMR) has published a new market study on the plastic pipe market which includes the global industry analysis for 2014-2018 and forecast for 2019-2029. The report specifically examines plastic pipes used in the construction industry, particularly in residential and commercial applications (excluding industrial plant construction). Typically, pipes are used for plumbing, heating and cooling, ground and waste, HVAC (ventilation, air conditioning), and other systems. Other industries such as oil and gas, agriculture and chemicals also use plastic pipes.
In addition, the report offers an in-depth analysis of the plastic pipe market for the next ten years. The Plastic Pipes report summarizes the macroeconomic factors that could aid and influence market growth and forecasting factors. The market size was roughly equivalent to revenues of around US$30 billion in 2018 and is expected to grow at a moderate CAGR of around 5% over the assessment period, largely influenced by the cyclical trend of l construction industry and new product launches.
Construction and Oil and Gas Exploration Projects – A Strong Push
Countries like the United States, India and China are major contributors to the growth of the construction industry, including the residential, commercial and industrial sectors, and are estimated to contribute more than 50 % to the growth of the global construction industry in the near future. The increase in land exploration activity and pipeline transportation is in turn expected to boost the demand for pipes during the forecast period.
More than 130 ongoing natural gas exploration and transmission pipeline projects in the United States will 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 in the electronics and telecommunications industry is expected to fuel the demand for plastic pipes during the forecast period.
More than 50% of the world’s population resides in urban areas. This percentage is expected to increase, particularly in China and India, to reach 66% by 2050, according to the United Nations DESA website. Growing urbanization is expected to increase the demand for plastic pipe manufacturing for various applications, such as sewage drainage systems, gas pipes, and water pipes, among others.
With the increase in activities around municipal and industrial wastewater treatment, the demand for a robust network of collection systems for combined sewers, separate sanitary sewers and industrial wastewater is increasing across the world. A significant increase in urbanization is expected to further fuel the demand for plastic pipes in the near future.
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Asia-Pacific plastic pipe market is growing at a rapid pace
Since water is an essential commodity, governments are taking initiatives to meet the growing demand for water for domestic and agricultural purposes through the installation of new water pipeline networks. Thus, increasing water management activities supported by government initiatives are expected to drive the growth of the plastic pipe market over the forecast period.
Rising construction activities, especially in the residential and commercial segment of the North America region, is expected to drive the demand for plastic pipes for applications such as sewers and exhaust pipes, plumbing and conduits of water. This can mainly be attributed to the efforts made by the companies to meet the growing demand for pipes and to access the high growth markets of Asia-Pacific. Asia-Pacific is estimated to hold a major share of the global plastic pipe market followed by North America over the forecast years.
Plastic Pipes Market: Competitive Landscape
Few significant 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, among others.
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