Market Research Report
Copper Pipes and Tubes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||864980|
|Published||Content info||108 Pages
Delivery time: 2-3 business days
|Copper Pipes and Tubes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: June 10, 2019||Content info: 108 Pages||
The global copper pipes and tubes market reached a volume of 4.2 Million Metric Tons in 2018. Copper pipes and tubes are widely used in the construction sector owing to the electrical and thermally conductive properties of copper. Although an overall copper plumbing is expensive as compared to its plastic counterpart, it still is a convenient option in terms of cost-benefits because of its long-term reliability. Furthermore, copper pipes have extensive industrial utilization owing to their non-corrosive and non-reactive nature. These pipes and tubes are also used for the transportation of gases since copper is non-permeable to air and gas and offers reduced chances of leakage and contamination caused by oxygen, ultraviolet (UV) rays and temperature from the external environment.
With the growing population and rapid urbanization, there has been a significant increase in construction expenditures. This has resulted in an increasing demand for heating, ventilation and air conditioning (HVAC), where copper pipes and tubes find extensive applications owing to ease in handling, malleability, recyclability and non-pyrogenic properties. Furthermore, these pipes and tubes have a high yield, tensile and fatigue strength along with antibacterial properties that play a crucial role in the transportation of medical gases and water distribution systems. Moreover, rapidly growing oil and gas industry, which requires copper pipes and tubes for various operations, is contributing positively to the sales of these pipes and tubes. Other factors such as demand from the solar thermal energy and waste heat recovery systems and product innovations such as polyvinyl chloride (PVC) coated copper tubes are further catalyzing the market growth. Looking forward, IMARC Group expects the market to reach a volume of 5.1 Million Metric Tons by 2024, registering a CAGR of around 3% during 2019-2024.