Plastic Pipes Market Expected to Reach USD 40 Billion by 2030 Attaining a 5% CAGR Between 2022 and 2030 – Report by Market Research Future (MRFR)
Market Research Future
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Market Research Future
Plastic Pipes Market Research Report, Information: by Material (PVC, PE (HDPE, and LDPE), PP, others), End-use (Construction (Residential and Non-residential), Oil & Gas, Water & wasterwater, Agriculture, Chemicals), and Region — Global Forecast till 2030
New York, US, March 08, 2023 (GLOBE NEWSWIRE) -- Plastic Pipes Market Overview:
The MRFR analysis reports predict that the “Plastic Pipes MarketResearch Report, by Material, Region, and End-Use - Forecast Till 2030”, the global market for plastic pipes is predicted to showcase considerable development over the assessment timeframe from 2022 to 2030 with a strong development rate of approximately 5%. The reports further anticipate the market to acquire a valuation of around USD 40 billion by the end of 2030.
Plastic Pipes Market Scope:
Polyvinyl chloride (PVC) pipe refers to the white plastic pipe utilized for drainage and plumbing. PVC has become a leading substitute for metal piping. It is highly utilized plastic globally, given its ease of installation, low cost, durability, and strength. It is a thermoplastic polymer that forms valves, fittings, pipes, and other liquid-handling equipment. The global market for plastic pipes has grown immensely in recent times. The main aspect causing a rise in the market's development is the growing construction activities across the globe, especially across developing economies. The oil & gas and construction segments will occupy a prominent share by the end of the market over the coming years.
Competitive Analysis
The list of the leading participants across the global market for plastic pipes includes players such as:
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Material, By End-use & Region
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers
Rising demand for oil and gas, across industrial and domestic applications and the growing number of pipeline projects
Market USP Covered
Market Drivers
The global market for plastic pipes has grown immensely in recent times. The main aspect causing a rise in the market's development is the growing construction activities across the globe, especially across developing economies. The oil & gas and construction segments will occupy a prominent share by the end of the market over the coming years. In addition, factors such as rise in demand for the pipeline projects, rise in the setup of various end-user industries, several advantageous properties, and increase in demand in irrigation sectors are also projected to boost the market's expansion over the coming years.
Market Restraints
On the other hand, factors such as the availability of substitutes, a rise in toxicity, and government focus on rural water management are projected to restrict the market performance over the review era.
Global industrial activities and business operations experienced a major setback given to the rise of the global health crisis in the form of COVID-19. Along with all the industry operations, the pandemic affected public health across nearly 225 countries worldwide. All these situations led to the imposition of full or partial lockdowns across a majority of regions worldwide. Subsequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for construction activities during the pandemic and the halt of the majority of industrial operations, the plastic pipes market experienced a bunch of sudden & unexpected issues throughout the pandemic. On the contrary, now that the majority of the globe is being rapidly vaccinated and industrial operations are returning to normal, the market is predicted to witness a considerable expansion and recovery in revenue generation over the assessment period.
Segment Analysis
Among all the types, the PVS segment is anticipated to secure the top spot across the global market for plastic pipes over the assessment era. PVC pipes have some applications, such as using them as wastewater, and drinking water, which has been used in the oil and gas sector.
Among all the end-use sectors, the construction segment is projected to ensure the top spot across the global market for plastic pipes over the review era. The construction segment across the global market implies substantially high development, comprising non-residential and residential construction. Given the escalating usage of raw materials in construction sectors, it has been signified that the plastic pipes market will grow steadily over the coming years. Plastic pipes are a crucial aspect of building and construction sectors, where they have been utilized in water and wastewater pipelines, gas pipelines, HVAC systems, and many more.
The global market for plastic pipes is studied across five major geographies: Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The MRFR research documents imply that the North American region will lead the global market for plastic pipes over the review era. The region is known to have Canada and the U.S. as the leading growth contributors.
The Asia-Pacific regional market for plastic pipes is guaranteed to display substantial development over the review era. Some of the nations across the region extend towards the region of North America to carry out some of the industrial and agricultural activities, which is considered the prime parameter supporting the development of the regional market. The region is also known to perform the exploration works of both oil and gas, which in turn is also predicted to boost the regional market's performance for plastic pipes over the review era. Furthermore, the rising construction activities across the region and the rise in maintenance and repair activities are also predicted to catalyze the development of the market over the review timeframe. In addition, the regional governments are also taking initiatives to boost maintenance activities, which is also likely to impact regional market development over the coming years positively.
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