New York, USA, Nov. 14, 2022 (GLOBE NEWSWIRE) -- HDPE Pipes Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “HDPE Pipes Market Information by Type, by Application, and Region - Forecast till 2030”, the market is estimated to grow at a 5.80% CAGR to reach USD 19,907 Million by 2030.
Market Scope:
For almost 50 years, piping systems made of high density polyethylene (HDPE) have been employed in municipal and industrial water applications. HDPE pipes are employed by PPI's Building & Construction Division in ground source geothermal applications, sometimes referred to as earth energy or geoexchange systems.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 19,907 Million |
| CAGR | 5.80% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, by Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The usage of HDPE pipes in the industries like the agricultural industry to control water irrigation |
| The increase in the usage of HDPE Pipes in various industries like the manufacturing of plastic bottles, chemical industries. |
Competitive Dynamics:
These days, significant players have emerged to meet the rising demand for HDPE pipes. To meet the rising demand in the HDPE Pipes Market, several manufacturers are making plans to distribute their wares in more locations. In addition, numerous businesses are emphasizing the use of organic and inorganic materials in HDPE pipe production. Moreover, they intend to join with other market participants in order to achieve steady expansion and maintain reliable product delivery.
Key players of the market are:
- Orbia SAB
- China Lesso Group
- Advanced drainage systems
- Sekisui chemical
- Formosa plastics group
- Supreme industries
- Jain irrigation
- Chevron Philips chemicals
- JM eagle
- Astral pipes
Market USP:
Market Drivers
The need for HDPE pipes in a variety of industries, including the oil and gas, chemical, and even agricultural industries, has increased, contributing to the expansion of the HDPE Pipes Market. Additionally, the HDPE pipes are constructed from a synthetic polymer that is extracted from petroleum and is also used to make water pipes, corrosion-resistant piping solutions, and plastic bottles.
The primary factor that is favorably affecting the market value growth is due to the characteristics of HDPE pipes. Because HDPE pipes are strong, durable, and resistant to damage from external stresses and vibration, they can withstand even high-pressure water flow. The growing use of HDPE pipes in a variety of industries, including the production of plastic bottles, the chemical, and the oil and gas industries, is also having a beneficial impact on the market share for HDPE pipes.
The government attempts to purify the drinking water and enhance the quality of wastewater in several nations are increasing the use opportunities for HDPE pipes, which is fueling the market's expansion. The advantages of employing HDPE pipes, which have a greater level of corrosion resistance and long-term durability, are also expanding the market's potential for growth.
Market Restraints
The primary restraint that has a detrimental effect on the market for HDPE pipes is the fluctuation in raw material prices. Due to the fact that HDPE pipes are used in the production of plastics, which harms the environment. Plastic usage has decreased recently as more people become aware of the dangers of using them. This also had a limiting effect on the market's expansion. The manufacturing businesses are up against numerous obstacles in their efforts to expand the use of HDPE pipes in the industrial and construction sectors. The cost of raw materials has increased as a result of the pandemic's expansion, which is also difficult for the development of HDPE pipes.
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COVID-19 Analysis:
Numerous industries were severely impacted in 2020 as a result of the pandemic's effects. When compared to other businesses, the construction industry is suffering a significant loss in this. The construction industry has been severely impacted by challenges such a lack of resources, delivery delays, and management risks brought on by a surge of positive instances.
Even if there has been a significant decline in the pandemic's spread, the installation of the lockdown has slowed the virus's transmission and decreased the number of positive cases in many areas. Many governments have taken preventive measures to stop the pandemic from spreading over the world, including instituting lockdowns and giving the vaccine away for free in many nations.
Market Segmentation:
By Type
Over the course of the review period, there should be strong demand for the PE 80 category.
By application
All application types in the market for HDPE pipes are expected to be dominated by the revenue share of the water and wastewater sector. Manufacturers are increasing their production rates to improve the supply of pipes in this industry. Applications for pipelines in the gas and water industries are giving manufacturers reliable sources of income.
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Regional Analysis:
North America is keeping the dominating position in the HDPE Pipes Market because of the gradual utilization of the HDPE pipes to increase the quality of the wastewater, and also to purify the water in several nations like the US. Given the ongoing renovation of outdated irrigation and water systems on the continent, the market in Europe has enormous prospects for HDPE pipes.
Due to the progressive increase in the use of HDPE pipes in sectors like the construction industry as well as government initiatives to employ HDPE pipes, the Asia Pacific region is anticipated to dominate the market over the forecast period. Due to the large demand from the irrigation and water & wastewater sectors, the Asia-Pacific region also accounts for a sizeable portion of the global market for HDPE pipes. Many of the region's fast-growing economies have expanded their industrial, agricultural, and oil & gas exploration activities. Countries like India and Southeast Asian nations are anticipated to be the main drivers of HDPE pipe demand in the Asia-Pacific region.
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