PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1490253
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1490253
Plastic Pipe Market size was valued at USD 55,789.67 million in 2023, expanding at a CAGR of 7.0% from 2024 to 2032.
The plastic pipe market is a dynamic sector that plays a crucial role in various industries such as construction, water supply, agriculture, and more. The growing need for plastic pipes in a variety of applications, such as irrigation, drainage, sewage systems, and water supply, is a result of the quick industrialization and urbanization of many nations. Plastic pipes are preferred for their lightweight nature, corrosion resistance, durability, and ease of installation, making them a popular choice in various applications.
Plastic Pipe Market- Market Dynamics
Increasing demand and innovation in manufacturing processes, and design enhance durability, efficiency, and performance
Adoption in various sectors and applications is fueled by innovations in pipe materials, manufacturing techniques, and design that improve durability, efficiency, and performance. This increased demand encourages manufacturers to invest in research and development to improve the quality and performance of their products. For example, Finolex Industries unveiled a new range of CPVC pipes in March 2023. Chlorinated polyvinyl chloride, a modified form of PVC that is more resistant to heat and chemicals, is used to make CPVC pipes. The new line of CPVC pipes from Finolex Industries is meant to be used in industrial settings like food and chemical processing, as well as hot and cold water applications.
Plastic Pipe Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.0% over the forecast period (2024-2032)
Based on material segmentation, PVC was predicted to show maximum market share in the year 2023
Based on application segmentation, Water supply was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Plastic Pipe Market is segmented based on Material, Application, End-Use, and Region.
The market is divided into two categories based on Materials: PVC and PP. One of the most popular materials in the plastic pipe business is polyvinyl chloride or PVC. Due to its affordability, strength, ease of installation, and longevity, this plastic is frequently used worldwide. Its low cost, great durability, and chemical resistance make it an excellent option for a variety of applications, including irrigation, sewage systems, and water supply and distribution.
The market is divided into two categories based on application: irrigation and water supply. In terms of application, the water supply segment led the market, As sewage application is used extensively in the building and construction as well as industrial sectors, it is anticipated to develop at a substantial compound annual growth rate (CAGR) over the forecast period. Throughout the projection period, the growing need for recyclable and reasonably priced goods in the building industry is anticipated to fuel the segment's expansion.
Plastic Pipe Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Due to the availability of advanced production facilities and the expansion of construction activities in the region, the plastic pipe market in North America is anticipated to develop at a substantial compound annual growth rate (CAGR) during the projected period. Furthermore, the increasing amount of money that the government is spending on infrastructure is probably going to increase demand for drinking water and sewage systems, as well as for plastic pipes that are required to sustain the structural integrity of bridges and other big buildings, which will expand the market.
Depending on variables including application, plastic pipe type, and geographic location, the competitive environment in the plastic pipe market might change. In general, it consists of both major international firms and minor regional participants. Key companies such as Mexichem SAB de CV, Chevron Phillips Chemical Company, Pipe Corporation, Netafim, and Finolex Industries Ltd. leverage innovative technologies to convert plastic waste into valuable products. For instance, A definite deal was struck in 2021 by Netafim, a leading global provider of precision irrigation technologies, to purchase Gakon Horticultural Projects, a turn-key greenhouse provider based in the Netherlands. This calculated action is in line with Netafim's expansion strategy in agricultural projects as it seeks to increase revenue and production capacity.
In December 2023, ISCO announced an agreement to acquire substantially all of the assets of Infinity Plastics, a leading manufacturer of finished high-density polyethylene tubular products. The acquisition of Infinity Plastics was an expansion of ISCO's presence and capacity and was part of the company's overall strategy to support evolving customer needs, backed by quality standards and excellent customer service.
In 2021, CEMEX declared that it would supply Vertua, an inventive lower-carbon concrete, for the P180 office skyscraper in Warsaw. In this sustainable project, the health and welfare of the occupants were given top priority. By launching carbon-neutral concrete, CEMEX strengthened its environmental commitment and entered new markets.
GLOBAL PLASTIC PIPE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Mexichem SAB de CV
Chevron Phillips Chemical Company
Pipe Corporation
Finolex Industries Ltd
Aliaxis Group S.A.
Wienerberger AG
Astral Polytechnik Limited
Tommur Industry (Shanghai) CO., LTD
Kubota ChemiX Co., Ltd
Kotec Corporation
Cemex
Others