HYDERABAD, India, March 16, 2022 /PRNewswire/ -- The global plastic pipes market was valued at USD 53.5 billion in the year 2021 and is projected to reach USD 83.3 billion by the year 2028, registering a CAGR of 6.5%. Increasing urban population, particularly in the Asia Pacific and Africa, growth in the irrigation sector, and high demand for non-residential commercial buildings are expected to be the leading drivers of the global plastics market.
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Growth in urban infrastructure is the primary driving force for the plastic pipes market, while environmental concerns associated with it may hamper growth
About 55% (~4.2 billion inhabitants) of the world's population were living in urban areas and this is expected to increase to 68% by 2050, according to United Nations (UN). This combined with the overall growth of the world's population could add another 2.5 billion people to urban areas by 2050. Plastic pipes are used for various applications such as water supply, cables, window profiles, flooring, and roofing. According to a report from ReAnIn, Building and construction accounted for about 40% of the global plastic pipes market share in 2021. Furthermore, increasing investment in infrastructure from the government as well as private players is expected to lead to growth in the global plastic pipes market.
Plastics are non-biodegradable and contribute to the world's growing solid waste crisis. Moreover, plastic pipes can generate benzene and other harmful chemicals upon heating. Polyvinyl chloride (PVC) pipes are corrosion-free and therefore, last longer than metal or cement pipes. Hence, it's being used widely for water supply. Lead stabilizers improve the durability of PVC pipes but it has the potential to poison water. These environmental and health concerns may promote the use of alternatives such as metal pipes.
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North America accounts for the majority of the market share owing to a significantly high urbanization rate
North America has the highest percentage (more than 82%) of the population living in urban areas, followed by Latin America (~81%) and Europe (74%). According to an estimate, municipal bodies in the US are expected to invest USD 300 billion in water infrastructure over the next decade. The plastic pipes market is expected to get a boost from this investment as the majority of the water supplies are through plastic pipes.
Currently, the Asia Pacific and Africa have lower urbanization rate but is expected to witness a steep rise in urban population. With the rise of the urban population, demand for plastic pipes is expected to grow highest in the Asia Pacific. Moreover, net irrigated area has increased significantly in recent years in developing countries such as India which has resulted in growth in the plastic pipes market.
Key Highlights of the Report
- In 2021, PVC accounted for more than 36% of the global plastic pipes market. However, there is a rising acceptance of CPVC pipes over galvanized or PVC pipes because CPVC can withstand water up to 200F.
- In developed economies such as the US, demand for plastic pipes is driven by repair/re-build of water infrastructure while plastic pipes are majorly used in new water infrastructure in developing economies such as India.
- Due to better durability plastic pipes are generally preferred over metal or cement pipes. However, environmental and health concerns associated with plastic pipes may limit their usage.
Market Segmentation:
ReAnIn has segmented the global plastic pipes market by:
- Product Type
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polypropylene (PP)
- Others
- Application
- Oil & Gas
- Building and Construction
- Residential
- Non-residential
- Water & Wastewater
- Agriculture
- Chemical Industry
- Others
- Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
Key players in the global plastic pipes market include Orbia Advance Corp, WL Plastics Corporation, JM Eagle, Finolex Industries Limited, Wienerberger AG, Aliaxis Group, Beetle Plastics, Georg Fischer Ltd, Asahi Yukizai Corporation, Tessenderlo Group, Genuit Group, Geberit Group, Sekisui Chemical, Charlotte Pipe and Future Pipe Industries.
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About ReAnIn
ReAnIn provides end-to-end market research services which span across different support areas such as syndicated market research reports, custom market research reports, consulting, long-term engagement, and flash delivery. We are proud to have more than 100 Fortune 500 companies in our clientele. We are a client-first organization and we are known not just for meeting our client expectations but for exceeding them.
Media Contact:
Name: Deepak Kumar
Email: press@reanin.com
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