In addition, the global Plastic pipes market is expected to boost at a CAGR of 5% with a value of USD 40 billion over the estimated the forecasting year of 2022-2030.
Pipes, pipe fittings, and plastic profiles such as rods and tubes are sold and manufactured in the plastic pipe sector. A plastic pipe is a plastic hollow cylindrical structure or tubular piece. Other pipe fittings, too, are produced of plastic following the specified shape and size. The plastic pipe market is divided into raw material and end-user applications. Polyvinylchloride, Polypropylene, and Polyethylene are the raw ingredients used to make plastic pipes. The plastic pipes marketend users include potable water supply, electrical and telecommunication cable protection pipes, agriculture, wastewater supply, and the oil and gas industry.
The primary driving driver in the market is aware of the benefits offered by plastic pipes, such as flexibility, low cost, and convenience of installation. Because plastic pipes are corrosion-resistant, they require extremely little upkeep. Furthermore, plastic pipes have an insulating quality that helps prevent condensation while transporting cold water, reducing heat loss. These causes contribute to an increase in the global demand for plastic pipes. The plastic pipe industry is predicted to benefit from an increase in rapid development and industrialization. Environmental concerns and government-imposed health and environmental regulations can be a barrier to expanding the plastic pipes market.
Due to their advantageous qualities such as lightweight, cost-effectiveness, ease of installation, and durability, PVC pipes have achieved worldwide popularity. Their outstanding heat and electrical insulation capabilities have also led to their use in electrical fittings. These pipes don’t decay, wear out, or rust over time, and they can tolerate a lot of motion movement in earthquake-prone areas. Due to these considerations, PVC pipes are gradually replacing other piping materials worldwide.
The global market has been divided into material, end-use and regional basis. The market is further divided into the material section: PVC, PE, HDPE, LDPE, PP, and others. The market is divided into construction, residential and on-residential, oil & gas, water & wastewater, agriculture, and chemicals with the end-use section. According to a regional basis, the plastic pipes market is classified into Asia-Pacific, North America, and South America. Europe and Middle East & Africa.
The growth rate of China, as well as the Asian region, is still high. Still, it is slowing as the population ages and the economy shifts from investment to consumption, manufacturing to services, and external to internal demand.
Due to the central government’s demand for infrastructure investment to sustain economic growth, China’s construction industry has quickly risen since 2017. Despite the real estate market’s volatility, the Chinese government’s massive rail and road infrastructure development to support the increasing industrial and service sectors has resulted in significant growth of the Chinese construction industry in recent years. Increased government investment is helping the construction industry in the country, which state-owned firms dominate.
Due to the central government’s demand for infrastructure investment to sustain economic growth, China’s construction industry grew quickly. The country has the world’s largest manufacturing economy, and as a result, the country’s packaging needs are enormous.
During the projection period, demand for plastic pipes market is driven by increased demand for pipes in the building, construction, and irrigation industries. The increased use of PVC pipes in the construction industry as a superior alternative to metal and concrete pipes is projected to be a major driver for PVC pipe market growth in the future.
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