Dublin, Feb. 15, 2024 (GLOBE NEWSWIRE) -- The "Plastic Pipes and Pipe Fittings Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The latest comprehensive market research on plastic pipes and pipe fittings offers an in-depth analysis of the industry's current state and future outlook. The report examines the market's various segments, including polyvinyl chloride (PVC) pipes, polyethylene (PE) pipes, polypropylene (PP) pipes, and more, providing stakeholders with a robust understanding of the market's dynamics.
The analysis reveals how the plastic pipes and pipe fittings market has experienced substantial growth, expanding from $80.27 billion in 2023 to a projected $88.52 billion in 2024, at a CAGR of 10.3%.
This surge is attributed to factors such as rapid urbanization, advances in technology, and the rise of the construction sector. Looking ahead, the market is predicted to grow further to $127.6 billion by 2028, demonstrating an impressive CAGR of 9.6%.
The research points out key drivers influencing the market. Among them, the demand for housing facilities within the construction sector plays a significant role. The preference for plastic piping solutions, noted for their durability, cost-effectiveness, and ease of installation over traditional materials, is driving their adoption in a variety of construction applications.
The increasing need for efficient water supply infrastructure to meet the soaring global water consumption, which reached 2002 trillion cubic meters in 2022, has been emphasized as another crucial driving factor. The market's role in supporting effective water conveyance for personal, commercial, and communal needs cannot be understated.
Innovations and Technological Advancements
- Market leaders are innovating, introducing products like bio-attributed PVC piping systems to reduce environmental impact and CO2 emissions significantly.
- Technological enhancements such as improved resistance to internal pressure and slow-crack growth resistance are enabling innovations like BiAx Pipe technology, which promises a reduction in material usage and energy costs.
Acquisitions have also impacted the market landscape, with prominent companies such as Wavin B.V. successfully integrating Bow Plumbing Group Inc. into their operations, seeking to expand product offerings and expertise in the sector.
Regional Insights
The report covers global geographic market trends with a focus on high-growth regions. Asia-Pacific emerged as the largest market in 2023, with North America projected to be the fastest-growing region during the forecast period. The study also encompasses detailed analyses of other key regions including Western Europe, Eastern Europe, South America, the Middle East, and Africa.
The report includes a comprehensive list of major players in the plastic pipes and pipe fittings sector. Each company's strategic positioning and contribution to the market have been assessed, providing stakeholders with valuable insights for decision-making.
Companies Profiled
- Available Plastics
- Inline Plastics
- Kimplas Piping System Limited
- WL Plastics Inc.
- Applied Plastics Co. Inc.
- Lincoln Plastics Inc.
- NewAge Industries Inc.
- Ductile Iron Pipe Manufacturers
- Omega Plastics Inc.
- Contech Engineered Solutions
- W.P. Law Inc.
- Interstate Pipe & Supply Co. Inc.
- Continental Steel & Tube Co. Inc.
- Compressed Air Systems Inc.
- Emco Industrial Plastics
- Aliaxis Group
- ArcelorMittal
- BASF
- Charlotte Pipe and Foundry Co.
- Victaulic Co.
- Caylor Industrial Sales Inc.
- Colonial Teltek
- Guenther Supply Inc.
- JM Eagle Inc.
- Wavin B.V.
- Pipelife International GmbH
- China Lesso Group Holdings Limited
- IPEX Inc.
- Chevron Phillips Chemical Company LP
- GPS PE Pipe Systems
- Georg Fischer Harvel LLC
- Astral Poly Technik Limited
- Advanced Drainage Systems Inc.
- Sekisui America Corporation
- Polygon Company Limited
- Rifeng Enterprise Group Co. Ltd.
- Weixing New Material Co. Ltd.
- Kubota ChemiX Corporation
- Dutron Polymers Limited
- Aquatherm GmbH
- Nanxin Pipeline Piping Co. Ltd.
- Hsiung Yeu Enterprise Co. Ltd.
- Pestan Plastics LLC
- Charter Plastics Inc.
- Advanced Plastic Industries Inc.
- Alphacan SpA
- Borealis AG
- Georg Fischer LLC
For more information about this report visit https://www.researchandmarkets.com/r/czvwfv
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