PUBLISHER: Allied Market Research | PRODUCT CODE: 1344491
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344491
According to a new report published by Allied Market Research, titled, "Pipes Market," The pipes market was valued at $119.5 billion in 2020, and is estimated to reach $209.1 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032. Pipes are hollow cylindrical structures, designed to transport liquids, gases, and slurries. They come in various materials, including plastic, metal, concrete, and composites. Plastic pipes are commonly made from Polyvinyl Chloride (PVC), high-density polyethylene (HDPE), and other composite plastics. Metal pipes are constructed using materials such as stainless steel, carbon steel, alloy steel, copper, aluminum, and others.
Pipes of different diameters, shapes, and materials are used in buildings for various applications such as plumbing, sewage, electrical conduits, and HVAC systems. Thus, rise in the number of buildings is a major driver for the growth of the pipes market. Moreover, rise in the number of wastewater treatment plants, community water pumps, sewage, gas pipelines, stormwater drainage systems, and various others are also positively impacting the market. In addition, growth in the industrial sector globally, where pipes are widely used to supply chemicals, water, air, steam, and others, is also a major factor driving the pipes market growth. However, high and fluctuating cost of raw materials are major restraints in the growth of the market. Furthermore, advancements in composite material technology and advancements in the manufacturing process of composite materials are anticipated to provide lucrative opportunities for the growth of the pipes market.
Furthermore, the price of oil & gas and the price of raw materials are experiencing increased volatility globally, due to rise in inflation mainly driven by Ukraine-Russia war. This has led to slow-paced growth of the pipes market and its related industries.
The pipes market is segmented on the basis of material, diameter, application, and region. By material, the market is bifurcated into metal, thermoplastic, concrete, and thermoset & composite. Depending on diameter, the market is categorized into DN up to 50 mm, DN 50 to 150 mm, DN 150 to 300 mm, DN 300 to 500 mm, and DN above 500 mm. Depending on application, it is divided into water & wastewater, industrial, oil & gas, and others. Region-wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition Analysis
Key companies profiled in the pipes market report include ASTRAL LIMITED, Prince Pipes And Fittings Ltd, ArcelorMittal, JM EAGLE, INC., Nippon Steel Corporation, Tata Steel Limited, Tenaris SA., United States Steel Corporation, Sumitomo Corporation, and Nucor Corporation (Nucor Tubular Products). The major players that operate in the global market have adopted key strategies such as acquisition, business expansion, product launch, and other strategies to strengthen their market outreach and sustain the stiff competition in the market.