Dublin, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The "Copper Pipes and Tubes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Copper Pipes and Tubes Market to Reach 4.9 Million Tons by the Year 2026
The demand for copper pipes and tubes fell in 2020 due to stoppage of all non-critical construction projects, reduced residential construction, reduced focus on smart cities, poor automotive demand, and contraction of the manufacturing sector, among other factors.
In the post COVID-19 period, the global market for copper tubes as well as pipes will grow led by the importance of copper`s corrosion resistance, non-combustible property, and lightweight features in various end-use applications.
Market growth will also be driven by the revival in demand for corrosion-resistant and durable copper piping and tubing for use in fuel oil systems, medical gas systems, underground gas and water supply systems, heat exchange systems, and HVAC&R as well as from renovation and construction activities.
Amid the COVID-19 crisis, the global market for Copper Pipes and Tubes estimated at 4.1 Million Tons in the year 2022, is projected to reach a revised size of 4.9 Million Tons by 2026, growing at a CAGR of 4.2% over the analysis period.
The U.S. Market is Estimated at 440.2 Thousand Tons in 2022, While China is Forecast to Reach 1.8 Million Tons by 2026
The Copper Pipes and Tubes market in the U.S. is estimated at 440.2 Thousand Tons in the year 2022. The country currently accounts for a 10.89% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 1.8 Million Tons in the year 2026 trailing a CAGR of 4.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach 1.9 Million Tons by the end of the analysis period.
Plumbing Segment to Reach 549.4 Thousand Tons by 2026
Copper tubes are being used in heating and plumbing systems, due to the material`s ability to endure extreme heat conditions without any degradation; ability to resistant to corrosion and high water-pressure; and ability to retain shape, and strength at high temperatures. In the global Plumbing segment, USA, Canada, Japan, China and Europe will drive the 2.7% CAGR estimated for this segment.
Select Competitors (Total 137 Featured):
- Cerro Flow Products LLC
- Cambridge-Lee Industries LLC
- Fabrika bakarnih cevi Majdanpek
- Foshan Huahong Copper Tube Co., Ltd.
- Furukawa Electric Co., Ltd.
- Golden Dragon Precise Copper Tube Group, Inc.
- Grupo IUSA, S.A. de C.V.
- H& H Tube
- Hailiang Group Co., Ltd.
- KME Germany GmbH
- Kobelco & Materials Copper Tube, Ltd.
- Luvata Oy
- MM Kembla
- Mueller Industries, Inc.
- Ningbo Jintian Copper (Group) Co., Ltd.
- Poongsan Corporation
- Qingdao Hongtai Copper Co., Ltd.
- Shanghai Metal Corporation
- Wieland-Werke AG
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- HVAC&R Systems Emerge as the Major Application Market for Copper Pipes and Tubes
- Market Poised to Benefit from the Use of Copper Pipes & Tubes in Industrial Heat Exchangers
- Improving Tube Designs Drive Performance Improvements for Industrial Heat Exchangers
- Copper Pipes & Tubes Continue Find Demand in Water Distribution Applications
- Bactericidal Property Support Use of Copper Tubes in Water Distribution Systems
- Despite Emergence of Alternate Materials, Plumbing Remains a Major End-Use Market for Copper Pipes & Tubes
- Rising Prominence of Copper Tubes in Heating Systems
- Direct-Exchange Geothermal Climate Control Systems
- Condensing Tank-less Gas Water Heaters
- Solar Thermal Systems
- Waste Heat Recovery Systems
- Medical Copper Tubing Market: A Promising Market
- Manufacture of Medical Copper Tubing
- Demand Surges for Copper Pipes & Tubes in Medical Gas Systems
- Copper Tubes Face Threat from PEX in Medical Applications
- Automotive Industry Presents Significant Potential for Copper Pipes & Tubes
- Copper Pipes Emerge as Suitable Options for Fire Sprinkler Systems
- Plastic-Coated Copper Tubes Address the Needs of Aggressive Environments
- Press-Connect and Push-Connect Fittings Gain Prominence
- Use of Cupronickel Tubes Gains Traction
- Rise in Volumes of Pipes & Tubes Made from Recycled Copper
- Rise in Demand for Special Types of Tubes
- Copper Holds Potential to Combat Viruses
- Threat of Substitution Looms Large on Copper Pipes & Tubes Market
- Volatile Copper Prices: A Major Challenge for the Market
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/uoy4w2
