DALLAS, Oct. 11, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global industrial pipe market looks promising with opportunities in power generation, petrochemical, automotive, and industrial processing. The global industrial pipe market is expected to reach an estimated $21.7 billion by 2023 with a CAGR of 2.5% from 2018 to 2023. The major growth drivers for this market are increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.
Browse 109 market data tables and 158 figures spread through 245 pages and in-depth TOC on “Global Industrial Pipe Market" at https://www.lucintel.com/industrial-pipe-market.aspx
In this market, steel, ductile iron, plastic, and fiberglass reinforced plastics (FRP) materials are used for pipe manufacturing for various end use industries. On the basis of comprehensive research, Lucintel forecasts that the steel pipe is expected to remain the largest material segment over the forecast period due to increasing demand for steel pipes in power generation and petrochemical industries. Lucintel predicts that the plastic pipe material segment will witness the highest growth during the forecast period.
Download Free PDF Brochure @ https://www.lucintel.com/industrial-pipe-market.aspx#/
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing infrastructure development, urbanization and government economic stimulus measures in this region.
Pre-Purchase Query click https://www.lucintel.com/industrial-pipe-market.aspx#/
Emerging trends which have a direct impact on the dynamics of the industry include increasing use of dopeless technology in pipe manufacturing to reduce operational risk and development of multilayer pipe to increase strength and durability. Vallourec, TMK, Tenaris, China Lesso, ArcelorMittal, Mexichem, Sekisui Chemicals, Advanced Drainage System, Amiantit, and Future Pipe are among the major suppliers of industrial pipes.
Lucintel, a leading global market research firm has analyzed growth opportunities in the global industrial pipe market by end use industry, material, diameter, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Industrial Pipe Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global industrial pipe market by end use industry, material, diameter, and region.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.