Portland, OR, Nov. 23, 2021 (GLOBE NEWSWIRE) – The global stainless steel plumbing pipe market was $ 4.92 billion in 2020 and is projected to be $ 8.17 billion by 2030, according to the report released by Allied Market Research -Dollars will reach CAGR of 4.8% by 2021-2030.
The surge in the construction of shopping malls and offices, the surge in housing remodeling and bathroom and toilet renovation renovations for residential and non-residential buildings are driving the global stainless steel plumbing pipe market. However, fluctuations in raw material prices and declining new construction activity in African countries are hampering market growth. On the contrary, the expansion of infrastructure in developing countries should open up new opportunities for market participants in the future.
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Covid-19 scenario:
- The Covid-19 pandemic hampered the market due to the closure of stainless steel plumbing pipe manufacturing facilities. In addition, the decline in new building construction slowed the demand for stainless steel plumbing pipes.
- In addition, the pandemic disrupted the supply chain and increased raw material prices.
The report segments the global Stainless Steel Sanitary Pipe Market by application, type, end-user and region.
Based on the application, the bathtub segment is expected to have the highest CAGR of 5.7% over the forecast period. In 2020, however, the fittings segment had the largest share, which made up more than a fifth of the market.
Get a detailed COVID-19 Impact Analysis on Stainless Steel Plumbing Pipe Market Inquiry here
Based on the construction type, the renovation segment will have the highest CAGR from 2021 to 2030 with 5.2%. Additionally, in 2020 the segment dominated the market in terms of sales, contributing nearly three-fifths of the market. The research also analyzes the new construction segment.
The global stainless steel sanitary pipe market is analyzed in several regions such as North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific market had the largest share in 2020, accounting for nearly three-fifths of the market. However, it is estimated that the market in LAMEA will experience the highest CAGR of 5.9% during the forecast period.
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Top Manufacturers:
Global Stainless Steel Sanitary Pipes market report includes an in-depth analysis of key market players such as Geberit AG, Jindal Stainless Limited., Steelmor Industries, Central States Industrial, Mueller Industries Inc., Reliance Worldwide Corporation Limited, Turnkey Industrial Pipe & Supply Inc., Uponor Corporation , Bradley Corporation and Globe Union Industrial Corp.
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Allied Market Research (AMR) is a full-service market research and management consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as medium and small businesses. AMR provides targeted business insights and advice to help clients make strategic business decisions and achieve sustainable growth in their respective market areas.
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