PlasticPipes Industry Insight:
Investors are preparing forinvesting in the global plastic pipes market since the aftermath of thelong-term impact of COVID-19. Market Research Future finds that how pandemiccan change the market’s growth stream. The research came to the point that a 5%CAGR of rate is recorded at which the market will regain its position and wouldachieve a valuation of ~ USD 40 billion in the years 2018–2023 (forecastedperiod).
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NotableDevelopments
Around the world, hugeamounts of money are currently being invested in the expansion of the pipes formultiple uses, from protecting the expensive cables against harmfulenvironmental influences to many. In this case, cable protection pipes are usedthat are made of plastics. This is one example of how current megatrendsplastic pipes are going round the world. In the present study, MRFR analyzesthe entire world market for plastic pipes markettrend and its growth points.
The global economic growth,escalating awareness of the benefits of plastic pipes, expansion in theconstruction industry, and growing maintenance and replacement of agingpipeline infrastructure will drive growth in the forecasted period. In fact,advances in plastic pipe and its soaring demand in Eastern and Western Europeare likely to accelerate throughout the year of 2023 as it is supported byrecovering construction expenditure. The energy, agriculture, and industrialsectors lean to be less intensive users of plastic pipe than is construction.However, advancements in technology and plastic materials have helped plasticpipe amplify its share in many of these markets.
Case of a point: In oil andgas applications, plastic accounts a small share of the total pipe market, butescalating the use of some materials, such as fiberglass in oil pipelines andHDPE in natural gas distribution. This will support plastic pipe demand goingforward.
On the contrary, the factorsthat could hinder the growth of the plastic pipes market in the future includereductions in free trade and rising environmental concerns regarding the use ofplastics.
Segmentationof Market
The worldwide plastic pipesmarket has been segmented on material andend-use.
In terms of the materialsegment, the market has included PE (HDPE and LDPE), PVC, PP, and others. ThePVC segment might witness a noteworthy growth rate during the assessmentperiod. PVC pipes have a extensive variety of applications in wastewater,drinking water, and oil & gas owing to properties such ascost-effectiveness, safety, durability, and recyclability.
In terms of end-use segment,the market has included irrigation, oil, and gas, as well as water andwastewater. The construction segment might display high growth during theassessment period. The construction industry in residential and non-residentialis growing at a steady pace, and this has resulted in surged demand for rawmaterials in the construction industry. Here, pipes form a necessary part ofthe building and construction industry and find applications in HVAC systems,water & waste pipelines, gas pipelines, and others.
RegionalFront
The global plastic pipe market growth andits demand will be robust in the developing countries of Africa, Asia, andSouth America owing to hard work to expand access for potable water and sewagesystems. The market prospect for water and sewer systems is hefty, as anextensive share of the population in these regions does not have dependableaccess to drinking water supply or improved sanitation. The moderately low costand ease of installation of the plastic pipe give it advantages over other pipematerials in these regions, resulting in grasping high market shares in thefuture as well.
Advances in plastic pipedemand in the developed regions of Eastern and Western Europe are likely toaccelerate through 2019, supported by recovering construction expenditure.Also, the demand in both regions contracted following the global economicrecession but began to recover in 2013.
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IndustryPlayers
The leading industry playersinclude Wienerberger AG (Austria), Aliaxis Group S.A. (Belgium), JM Eagle, Inc.(US), Mexichem SAB de CV (Mexico), China Lesso Group Holdings Ltd. (China),Georg Fischer Ltd. (Switzerland), ASTRAL POLYTECHNIK LIMITED (India), FinolexIndustries Ltd. (India), Geberit AG (Switzerland), and Hilliard, OH (US).
About MarketResearch Future:
Market Research Future (MRFR)is a global market research firm that takes great pleasure in its services,providing a detailed and reliable study of diverse industries and consumersworldwide. MRFR's methodology integrates proprietary information with differentdata sources to provide the client with a comprehensive understanding of thecurrent key trends, upcoming events, and the steps to be taken based on thoseaspects.
Our rapidly expanding marketresearch company is assisted by a competent team of research analysts whoprovide useful analytics and data on technological and economic developments.Our deemed analysts make industrial visits and collect valuable informationfrom influential market players. Our main goal is to keep our clients informedof new opportunities and challenges in various markets. We offer step-by-stepassistance to our valued clients through strategic and consulting services toreach managerial and actionable decisions.
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