PUBLISHER: The Business Research Company | PRODUCT CODE: 1426240
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426240
Plastic pipes and fittings, crafted from plastic materials, serve the purpose of transporting fluids and regulating their movement across plumbing, heating, and industrial settings. Renowned for their lightweight build, durability, and corrosion resistance, they play a vital role in these applications.
The primary variants of plastic pipes and fittings encompass polyvinyl chloride (PVC) pipes, polyethylene (PE) pipes, polypropylene (PP) pipes, among others. PVC pipes, a specific type of plastic pipe, find widespread use in plumbing and assorted applications. They are integrated into structured and unstructured setups, serving diverse needs such as residential fixtures, water distribution, sewage systems, oil and gas conveyance, HVAC systems, manufacturing processes, agricultural functions, and more.
The plastic pipes and pipe fittings market research report is one of a series of new reports from The Business Research Company that provides plastic pipes and pipe fittings market statistics, including plastic pipes and pipe fittings industry global market size, regional shares, competitors with a plastic pipes and pipe fittings market share, detailed plastic pipes and pipe fittings market segments, market trends, and opportunities, and any further data you may need to thrive in the plastic pipes and pipe fittings industry. This plastic pipes and pipe fittings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The plastic pipes and pipe fittings market size has grown rapidly in recent years. It will grow from $80.27 billion in 2023 to $88.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. Historical growth can be traced back to several factors, including rapid urbanization and infrastructure expansion, the substitution of conventional materials, advancements in water and wastewater management, the burgeoning construction sector, and continuous progress in plastic technologies. These elements collectively contributed to the growth observed in the past period.
The plastic pipes and pipe fittings market size is expected to see rapidly grown in the next few years. It will grow to $127.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. Anticipated growth in the upcoming period can be linked to the increase in smart city projects, a heightened emphasis on sustainable and environmentally friendly solutions, the expansion of agricultural practices, innovations in materials technology, and the growing demand for HDPE pipes.
The surge in demand for housing facilities within the construction sector is anticipated to drive growth in the plastic pipes and pipe fitting market. These materials, known for their durability, easy installation, and cost-effectiveness compared to traditional metals, find extensive use in plumbing, drainage, and HVAC systems in construction projects. Notably, the Office for National Statistics reported a 1.7% increase in construction output in the UK in March 2022, driven by a rise in repair and maintenance (3.0%) and new work (1.0%). This upward trend in construction activities signifies a heightened demand for housing, thereby fueling the growth of plastic pipes and fittings.
The escalating need for water supply infrastructure is poised to propel the plastic pipes and pipe fitting market further. As global water consumption soared to 2002 trillion cubic meters in 2022, with projections estimating a 20% to 30% surge in demand by 2050, the role of pipes and fittings in efficient water conveyance becomes pivotal. Pipes facilitate the effective transportation of water, vital for individuals, businesses, and community projects. A report by Lawnstarter highlighted a significant increase in water consumption globally, emphasizing the growing necessity for water supply systems. This surge in demand substantiates the driving force behind the growth of plastic pipes and fittings.
Product innovation remains a dominant trend shaping the plastic pipes and pipe fitting market landscape. Leading companies in this sector are focused on developing innovative solutions to maintain their market position. An exemplary instance is GF Piping Systems' introduction of bio-attributed materials to their PVC-U metric pressure pipes, fittings, and valves in November 2021. Utilizing sustainable PVC resin made from tall oil waste, this innovation offers up to 90% reduction in CO2 emissions during production while ensuring top quality, durability, and recyclability.
Technological advancements, particularly in pipe technology, are becoming integral for companies seeking a competitive edge in the plastic pipes and pipe fitting market. Saudi Basic Industries Corporation's launch of BiAx Pipe technology in September 2021 is a testament to this focus on innovation. This revolutionary technology boasts enhanced resistance to internal pressure, enabling a 30% reduction in material usage. Its resistance to slow-crack growth streamlines trenchless pipe installation, while the remarkably smooth inner surface reduces energy requirements for pumping, marking a significant leap in pipe design, manufacturing, and installation for fluid and gas transportation.
In September 2022, Wavin B.V., a leading PVC pipe and fittings manufacturer headquartered in the Netherlands, successfully completed the acquisition of Bow Plumbing Group Inc. The financial details of this acquisition were not disclosed. This strategic move allows Wavin to broaden its product range significantly. Bow Plumbing Group, a respected Canada-based company specializing in plastic pipes and fittings for both residential and commercial applications, brings a strong reputation for excellence in this sector. Wavin aims to leverage Bow's expertise to complement its existing lineup of solutions, specifically enhancing offerings related to drinking water, wastewater management, and rainwater systems. This acquisition marks a significant expansion for Wavin, enabling the company to cater more comprehensively to various construction and infrastructure needs.
Major companies operating in the plastic pipes and pipe fittings market report are Available Plastics Inc., Inline Plastics LLC, Kimplas Piping System Limited, WL Plastics Inc., Applied Plastics Co. Inc., Lincoln Plastics Inc., NewAge Industries Inc., Ductile Iron Pipe Manufacturers, Omega Plastics Inc., Contech Engineered Solutions LLC, W.P. Law Inc., Interstate Pipe & Supply Co. Inc., Continental Steel & Tube Co. Inc., Compressed Air Systems Inc., Emco Industrial Plastics LLC, Aliaxis Group SA, ArcelorMittal SA, BASF SE, Charlotte Pipe and Foundry Co., Victaulic Co., Caylor Industrial Sales Inc., Colonial Teltek, Guenther Supply Inc., JM Eagle Inc., Wavin B.V., Pipelife International GmbH, China Lesso Group Holdings Limited, IPEX Inc., Chevron Phillips Chemical Company LP, GPS PE Pipe Systems, Georg Fischer Harvel LLC, Astral Poly Technik Limited, Advanced Drainage Systems Inc., Sekisui America Corporation, Polygon Company Limited, Rifeng Enterprise Group Co. Ltd., Weixing New Material Co. Ltd., Kubota ChemiX Corporation, Dutron Polymers Limited, Aquatherm GmbH, Nanxin Pipeline Piping Co. Ltd., Hsiung Yeu Enterprise Co. Ltd., Pestan Plastics LLC, Charter Plastics Inc., Advanced Plastic Industries Inc., Alphacan SpA, Borealis AG, Georg Fischer LLC .
Asia-Pacific was the largest region in the plastic pipes and pipe fitting market in 2023. North America is expected to be the fastest-growing region in the plastic pipes and pipe fitting market report during the forecast period. The regions covered in the plastic pipes and pipe fittings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the plastic pipes and pipe fittings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The plastic pipes and pipe fittings market consist of sales of acrylic pipes, and polycarbonate tubes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Plastic Pipes And Pipe Fittings Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on plastic pipes and pipe fittings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for plastic pipes and pipe fittings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The plastic pipes and pipe fittings market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.