Growing demand for high-speed industrial, commercial and
residential construction is anticipated to boost the growth in the
global pipes market. Also, need for wastewater management in
industrial and municipal sectors is surging. This is resulting in
governments spending hefty amounts on new pipeline installations as
well as operation and maintenance of water and wastewater
management.
NEWARK, Del., July 8, 2024 /PRNewswire/ -- The pipe market is
anticipated to be valued at USD 146.38
billion by 2024. The market valuation is estimated to be
USD 238.67 billion by 2034, projected
at a CAGR of 5.01%.
Rising urbanization, population growth, and industrialization
necessitate the construction of new residential, commercial, and
industrial facilities, fueling demand for pipes across various
sectors. Infrastructure initiatives such as road construction,
water supply networks, sewage systems, and oil and gas pipelines
contribute significantly to the market growth.
The residential infrastructure sector largely remains supported
by low lending rates, strong demand for bigger homes, and low
housing inventory. As the infrastructure and oil and gas industry
continues to grow, the demand for piping system will continue to
rise. This has also led to an increase in online sales of
pipes.
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One key threat facing the pipe market is the volatility of raw
material prices. Fluctuations in the prices of metals, plastics,
and other materials used in pipe manufacturing can impact
manufacturers production costs and profit margins. Geopolitical
tensions, trade disputes, and disruptions in the global supply
chain can exacerbate price volatility, posing challenges for market
players in managing costs and maintaining competitiveness.
An opportunity for the pipe market lies in adopting
sustainable and eco-friendly piping materials. With increasing
environmental concerns and regulatory pressures to reduce carbon
emissions and promote sustainability, a growing demand for pipes
made from recycled materials, composite materials, and other
eco-friendly alternatives is growing. Companies investing in
research and development to innovate sustainable piping solutions
stand to capitalize on this trend and gain a competitive advantage
in the market.
The integration of advanced technologies such as IoT (Internet
of Things) and AI (Artificial Intelligence) in pipe manufacturing
and monitoring processes presents opportunities for market players
to enhance product performance, efficiency, and safety, thus
meeting the evolving needs of customers and industry.
Which are the Key Opportunities for the Global Pipes
Manufacturers?
Governments across emerging regions are launching multiple
infrastructure projects in order to strengthen commercial
infrastructure. This in turn is expected to provide opportunities
for public-private partnership infrastructure projects in the
region which will thereby boost the sales of the pipes.
Moreover, GCC countries are gradually shifting their focus
towards developing into services driven economies. This shift in
focus is expected to promote commercial infrastructure activities
in the region and create opportunities for infrastructure -related
investments giving opportunity to increase sale of pipes.
Key Takeaways from the Market Study
- Under material, the metal segment is accounted to hold a market
share of 67.73% in 2024.
- The United Kingdom is
estimated to register at a CAGR of 5.79% by 2034.
- China experiences significant
growth, projected at a CAGR of 7.78% by 2034.
- Based on diameter, the metals of 100 to 200 mm segment is
accounted to hold a market share of 14.56% in 2024.
"The increasing demand for urbanization,
population growth, and industrialization continue, the need for
pipes to facilitate the transportation of fluids and gases remains
essential, thereby propelling market growth,"
Says Nikhil Kaitwade (Associate Vice
President at Future Market Insights, Inc.)
Competitive Landscape
In the competitive landscape of the pipe market, numerous
manufacturers, distributors, and suppliers compete based on factors
such as product quality, pricing, geographical reach, and customer
service.
Key players continuously innovate to enhance their product
portfolios, production efficiency, and market presence. Adherence
to regulatory standards and sustainability initiatives also
influence competitiveness in the market.
Some of the key developments are:
- In December 2021, North American
Pipe Corporation, under Westlake Chemical Corporation, introduced
advanced molecularly oriented polyvinyl chloride (PVC) pipes with
reduced carbon footprint, offering eco-friendly water main
solutions.
- In July 2022, Pipelife Austria
Gmbh & Co KG collaborated with raw material supplier Inovyn to
produce PVC sewage pipes entirely devoid of fossil fuels. These
pipes were intended for a sustainable construction initiative in
Gothenburg, Sweden, reflecting a
commitment to eco-friendly practices and reducing environmental
impact.
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Why is Italy Considered to be a Lucrative Market for Pipes
Manufacturers?
Italy pipes industry is set to
register 6.44% CAGR by the end of the forecast period. In the
context of deteriorating residential and commercial infrastructure
demand, the growth in crude oil and petroleum industry and rising
infrastructure spending is expected to boost infrastructure
industry.
As part of corona-recovery packages, Western European countries
are planning significant investment in infrastructure developments,
alongside some regulatory adjustment for quicker and more flexible
infrastructure planning systems. This is expected to positively
impact the pipes market in Europe.
Top Key Players in the Pipe Market
- Aliaxis Group
- Sekisui Chemical Co. Ltd
- Orbia Advance Corp
- Astral Polytechnik Ltd
- Geberit AG
- Finolex Industries Ltd.
- Formosa Plastic Corporation
- Nan Ya Plastics Corp.
- Advanced Drainage Systems Incorporated
- Polypipe Group Plc
- AGRU Kunststofftechnik Gesellschaft M.B.H
More Valuable Insights Available
Future Market Insights offers an unbiased global pipes market
analysis, providing historical data from 2019 to 2023 and forecast
statistics from 2024 to 2034
To understand market opportunities, the pipes market is
segmented based on Material Type [Plastic (PVC, CPVC, HDPE,
LDPE, PP, ABS, Fiberglass), Metal, Composite], Diameter [Plastic
(Up to 50mm, 50-100mm, 100-200mm, 200-400mm, 400-700mm, Above
700mm), Metal (Up to 50mm, 50-100mm, 100-200mm, 200-400mm,
400-700mm, Above 700mm), Composite (Up to 50mm, 50-100mm,
100-200mm, 200-400mm)], and Region (North
America, Latin America,
Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
Report
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About the Industrial Automation Division at Future Market
Insights
The industrial automation team at Future Market Insights
offers expert analysis, time-efficient research, and strategic
recommendations to provide authentic insights and accurate results
to help clients worldwide. With over 100+ reports and one million+
data points, the team has analyzed the industry lucidly in 50+
countries for over a decade. The team briefly analyzes key trends,
including competitive landscape, profit margin, and research
development efforts.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
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