DUBLIN--(BUSINESS WIRE )--The "Plastic Pipes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Plastic Pipes Market to Reach $38.1 Billion by 2026

The global market for Plastic Pipes estimated at US$29.9 Billion in the year 2022, is projected to reach a revised size of US$38.1 Billion by 2026, growing at a CAGR of 5.6% over the analysis period. PVC, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$14.2 Billion by the end of the analysis period.

The pipe material has gained significance over traditional piping materials such as steel, copper, iron, concrete and aluminum, led by its superior engineering properties such as light weight and resistance to chemicals and corrosion as well as easy handling. Plastics are regarded as an enduring and durable product that provides service for a long period.

Plastics are also inert and are not expected to react to moist and damp conditions. Furthermore, plastics are highly resistant to chemicals and corrosions and offer long life, as a result is ideal for pipes applications. Today plastic pipes find encouraging preference in several application areas including potable water, sewage, cable protection, agriculture and gas distribution, among others.

A combination of greater government emphasis on irrigation, strong private sector participation in water supply projects, and improved multi-lateral lending for water-related sectors presents significant potential for growth. Growing adoption of pipes in construction, in electric conduit and in the natural gas sector and for crop irrigation, among other applications is expected to fuel demand through the forthcoming years.

While the oil and gas sector is not a key consumer of plastic pipes, advancements in resin formulation have facilitated a significant expansion in usage in this sector in the last few years. Companies are streamlining efforts towards production of flexible, reinforced, pre-insulated plastic pipes designed for high temperature and high pressure networks.

After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the cPVC segment is readjusted to a revised 6.2% CAGR for the next 7-year period. Growth in the plastic pipes market after COVID-19 crisis is buoyed by the resurgence in construction and infrastructure development activity and the resulting opening up of opportunities in water transmission and distribution; sewage and storm drain outlets; and pipeline transportation of natural gas.

In North America and Europe, resurgence in construction markets and release of pent-up demand coupled with the growing need to replace antiquated sewer and utility pipe networks is expected to drive gains. In Europe, demand for plastic pipes is expected to mainly stem from Eastern Europe primarily led by Increase in EU-subsidised infrastructure projects.

The U.S. Market is Estimated at $3.3 Billion in 2022, While China is Forecast to Reach $13 Billion by 2026

The Plastic Pipes market in the U.S. is estimated at US$3.3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$13 Billion by the year 2026 trailing a CAGR of 6.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.

Plastic pipes market in Asia-Pacific, Africa and Middle East regions is expected to exhibit rapid growth in the coming years due to increasing usage of pipes by local municipalities, industrial and construction segments. Moreover, growth in these markets is expected to outpace global growth on account of growing demand for the products in natural gas distribution systems, construction and telecommunications sectors.

Western Europe, North America and Eastern Europe are also likely to contribute to growth, albeit at levels lower than developing regions, mainly on the back of on-going recovery of these regions from various economic pressures. Other major demand drivers include planned laying of natural gas distribution pipelines in several countries as well as advances in drainage and sewage systems and drinking water transfer systems and recovering manufacturing activity in various countries.

PE Segment to Reach $6.8 Billion by 2026

Demand for PE pipes is projected to grow significantly driven by expansion in sewerage, oil & gas, electrical, drainage, and telecommunication industries. PE pipes represent the second largest market for pipes worldwide. Demand by application is dominated by building and construction sector, drainage and sewage sector, and oil & gas.

One of the advantages of polyethylene for use in pipes and fittings is that the material is lighter by 6 to 8 times than the traditionally used galvanized iron or cast-iron pipes. Additionally, polyethylene pipes and fittings are by nature non-corrosive, and hence more suitable for transportation of water. In the global PE segment, USA, Canada, Japan, China and Europe will drive the 6.3% CAGR estimated for this segment.

These regional markets accounting for a combined market size of US$2.9 Billion will reach a projected size of US$4.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.4 Billion by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period.

2. FOCUS ON SELECT PLAYERS (Total 365 Featured)

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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900