Plastic Pipes Market Anticipated to Reach US$ 44 Billion By 2024

Global Plastic Pipes Market Poised to Surpass US$ 44 Bn Value by
Wastewater treatment and civic water supply facilities from all parts of the world are
improving with technological advancements, but plastic pipes will continue to be
essential tools for laying down an effective piping network. Properties and
functioning advantages of plastic pipes over metal or mortar pipes continues to drive
its adoption. Persistence Market Research’s recent report predicts that the global
market for plastic pipes will grow steadily and rake in more than US$ 44 Bn in
revenues by the end of 2024. Increasing demand for HDPE pipes across multiple
applications and purposes is expected to boost the demand for plastic pipes, as the
global market closes in on US$ 30 Bn value by the end of 2017.
The report offers forecast on the global plastic pipes market for the assessment
period, 2016-2024. During this period, the global market for plastic pipes will soar
steadily at 5.5% CAGR. Gaining stability across real estate sectors & housing
markets in developed and developing countries, lowering cost of procuring raw
plastic, and higher presence of piping operations with greater replacement &
maintenance rate are collectively observed as the driving force for growth of global
plastic pipes market.
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Recovery of Oil & Gas Industry – Lucrative Growth Opportunity
The report reveals that recovering stance of oil & gas business from the recent
economic slowdown is benefitting the sales of plastic pipes. In 2017, increasing shale
drilling activity in the U.S. and Canada is fuelling the demand for plastic pipes. In
addition to this, increasing exploration of shale gas, which constitutes onshore
exploration activities, is expected to result in an increase in demand for plastic pipes.
The aforementioned practices are primarily directed to cope up with the economic
slowdown of oil & gas industry, but they are incidentally increasing the demand for
plastic pipes across the globe during the forecast period.
Along with oil & gas businesses, the global electronics & telecommunication sector
is also expected to influence the growth of global plastic pipes market. The expansion
of electronics & telecommunication infrastructure in different parts of the world has
necessitated the use of plastic pipelines to protect underground cables and exposed
components. Urbanization across the globe has catapulted the rise in infrastructural
developments and water supply facilities which has subsequently resulted in an
increase in demand for HDPE pipes. According to the report, plastic pipes made from
PVC and PE materials are accounting for nearly 80% of global market value
throughout the forecast period. The report also reveals that end-use of plastic pipes in
water supply and oil & gas piping is gaining traction, revenues from which are
anticipated to reflect CAGRs above 5.5%. By 2024, the report anticipates that over
70% of global plastic pipe revenues will be attributed by liquid conduits as opposed
to gas conduits or other applications.
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While North America and Europe will collectively contribute to nearly 45% of global
market revenues throughout the forecast period, the plastic pipes market in AsiaPacific will be solely contributing with more than 40% of market revenues through
2024. The report also profiles key players in the global plastic pipes market, which
include Aliaxis Group S.A., Sekisui Chemical Co., Ltd., Wienerberger AG,
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., Contech Engineered
Solutions LLC, Supreme Industries Ltd., Prince Pipes & Fittings India Private
Limited., AGRU Kunststofftechnik Gesellschaft M.B.H., Polypipe Group Plc., and
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