Wellesley, Mass., July 31, 2017 (GLOBE NEWSWIRE) --
In the global market for plastic pipe, plastics are increasingly being used due to their corrosion resistance, low weight, low cost and endurance. In its new report, BCC Research anticipates these materials will continue to take market share from other piping materials, although at a slower rate than in the past.
According to Plastic Pipe: Global Markets, the global market should gain $15.5 billion from 2016 to 2021 to reach a projected $72.3 billion by the end year, demonstrating a 5.1% CAGR. Major applications for plastic piping and tubing include building and construction (water transmission, plumbing service, DWV, sewers and culverts), petroleum service (both upstream and downstream), machinery and process equipment, electrical and telecommunications, mechanical and structural and specialty/other (irrigation piping being the largest).
Because of the increasing use of plastic pipe in the United States, foreign companies, notably Asian firms, are increasing their acquisitions of U.S. pipe manufacturers, especially producers of PVC pipe. Plastic pipe companies with foreign ownership include Asahi/America Inc., Harvel Plastics, JM Eagle, Prime Conduit, Uponor, and Viega. The report profiles more than 15 foreign-owned companies, which represent about one-fourth of the total number of supplier companies reviewed.
Research Highlights
- Cross-linked PE (called PEX or XPE) pipe is receiving more attention and increased use.
- China and India are expected to achieve strong growth with CAGRs of 7.4% and 9.5%, respectively.
- Newer technology continues to focus on the trenchless method.
"Polyvinyl chloride continues to command the pipe market, with more PVC pipe shipped each year than all other plastics combined. In fact, as BCC Research estimates in its market analysis, PVC pipe still accounts for nearly two-thirds of all the plastic pipe poundage shipped worldwide," says Jason Chen, BCC Research analyst and author of the report.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.