Global Pipe Market is set to expand at a 5.01% CAGR from 2024 to 2034, attaining a Valuation of US$ 238.67 billion | Future Market Insights, Inc.
The future of the global pipe market looks promising with opportunities in power generation, petrochemical, automotive, and industrial processing. The major growth drivers for this market are increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.
NEWARK, Del, March 27, 2024 (GLOBE NEWSWIRE) -- The pipe market is anticipated to be valued at *US$ 146.38 billion* by 2024. The market valuation is estimated to be *US$ 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.
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 a manufacturer's 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.
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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
*Key Takeaways from the Pipe Market Report:*
· Under material, the metal segment holds 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 accounted for a market share of 14.56% in 2024.
*"The Pipe Market continues to exhibit robust growth, driven by increasing infrastructure development activities globally, key factors such as urbanization, industrialization, and the expansion of oil and gas exploration contribute to the market's expansion. The demand for advanced materials and technologies in pipe manufacturing remains high, reflecting the market's dynamic nature."* - says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
*Scope of Report:*
*Attributes* Details
*Estimated Market Size in 2024* US$ 146.38 billion
*Projected Market Valuation in 2034* US$ 238.67 billion
*Value-based CAGR 2024 to 2034* 5.01%
*Forecast Period* 2024 to 2034
*Historical Data Available for* 2019 to 2023
*Market Analysis* Value in US$ billion
*Key Regions Covered* · North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and Pacific
· East Asia
· The Middle East and Africa
*Key Market Segments Covered* · Material Type
· Diameter
· Region
*Key Countries Profiled* · The United States
· Canada
· Brazil
· Mexico
· Germany
· The United Kingdom
· France
· Spain
· Italy
· Russia
· Poland
· Czech Republic
· Romania
· India
· Bangladesh
· Australia
· New Zealand
· China
· Japan
· South Korea
· GCC countries
· South Africa
· Israel
*Key Companies Profiled* · 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
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*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.
*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).
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*Pipe Market Segmentation:*
*By Material Type:*
· Plastic
· PVC
· CPVC
· HDPE
· LDPE
· PP
· ABS
· Fiberglass
· Metal
· Composite
*By Diameter:*
· Plastic
· Up to 50 mm
· 50-100 mm
· 100-200 mm
· 200-400 mm
· 400-700 mm
· Above 700 mm
· Metal
· Up to 50 mm
· 50-100 mm
· 100-200 mm
· 200-400 mm
· 400-700 mm
· Above 700 mm
· Composite
· Up to 50 mm
· 50-100 mm
· 100-200 mm
· 200-400 mm*By Region:*
· North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and the Pacific
· East Asia
· The Middle East and Africa*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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