New York, October 9, 2019 (GLOBE NEWSWIRE) – Persistence Market Research (PMR) has published a new market study on the plastic pipe market, which is the global industry analysis for 2014-2018 and forecast for 2019-2029. The report specifically addresses plastic pipes used in the construction industry, particularly residential and commercial applications (excluding industrial plant construction). Generally, pipes are used for plumbing, heating and cooling systems, floor and waste, HVAC (ventilation, air conditioning) and other systems. Other industries like oil and gas, agriculture, and chemicals also use prominent plastic pipes.
Additionally, the report offers a thorough analysis of the Plastic Pipes market for the next decade. The report on Plastic Pipes summarizes macroeconomic factors that may support and affect the growth of the market and forecast factors. The market size was roughly equivalent to revenue of ~US $ 30 billion in 2018, and is expected to grow at a moderate CAGR of ~ 5% strongly influenced by the economic development of the construction industry and new product launches during the observation period.
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Construction and oil and gas exploration projects – a big boost
Countries such as the United States, India and China are major contributors to the growth of the construction industry, including the residential, commercial and industrial sectors, and are estimated to contribute more than 50% to the growth of the global construction industry in the near future. It is expected that increasing exploration activity on land and transport via pipelines will in turn stimulate demand for pipes over the forecast period.
In the US, more than 130 ongoing projects for exploration and transportation of natural gas in the US are expected to be completed in the near future. The expansion of the electronics and telecommunications industries has led to increased demand for pipelines to protect underground cables. This global expansion in the electronics and telecommunications industries is expected to fuel demand for plastic pipes over the forecast period.
More than 50% of the world’s population lives in urban areas. This percentage is said to be based mainly on China and India 66% by 2050 according to the United Nations DESA website. Growing urbanization is expected to increase the demand for the manufacture of plastic pipes for various applications, such as sewage drainage systems, gas pipelines, and water pipes, among others.
Plastic Pipes Market Preview Analysis Based on the Key Players – JM Eagle, Inc., ASTRAL POLYTECHNIK LIMITED, China Lesso Group Holdings Ltd., Geberit AG, Nan Ya Plastics Corp .: https://www.persistencemarketresearch.com/market -research /plastic-pipes-market.asp
With increasing activities related to municipal and industrial wastewater treatment, the demand for a strong network of collection systems for mixed sewers and sewers as well as industrial wastewater is increasing worldwide. It is expected that a significant increase in urbanization will further fuel the demand for plastic pipes in the near future.
The plastic pipe market in the Asia-Pacific region is booming at a rapid pace
Since water is an indispensable commodity, governments are taking initiatives to meet the growing household and agricultural needs by installing new water supply networks. Hence, growing water management activities supported by government initiatives are expected to drive the growth of the plastic pipe market over the forecast period.
Rising construction activity, particularly in the residential and commercial sector in North America, should increase the demand for plastic pipes for applications such as sewer and exhaust pipes, plumbing and water pipes. This is largely due to efforts by companies to meet growing demand for tubes and gain access to the high-growth markets in the Asia-Pacific region. The Asia-Pacific region is estimated to hold a prominent share of the global plastic pipe market, followed by North America in the forecast years.
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Plastic Pipes Market: Competitive Landscape
There are only a few prominent market players involved in the manufacture of plastic pipes Aliaxis Group SA, Sekisui Chemical Co., Ltd., Wienerberger AG, JM Eagle, Inc., ASTRAL POLYTECHNIK LIMITED, China Lesso Group Holdings Ltd., Geberit AG, Nan Ya Plastics Corp., Finolex Industries Ltd., Chevron Phillips Chemical Company , Formosa Plastics Corporation, Georg Fischer Ltd., Advanced Drainage Systems Incorporated, Supreme Industries Ltd, Polypipe Group Plc, Prince Pipes & Fittings India Private Limited and AGRU Kunststofftechnik Gesellschaft MBH.
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