The global pipes market reached a valuation of US$ 127.2 Bn in 2021 and is estimated grow at a CAGR of 5.4%, surpassing US$ 225.5 Bn by 2032. Rising application in industrial sector is underpinning the growth, with the segment projected to account for more than 25.6% of the market share by the end of the forecast period (2022-2032).
Significant demand for pipes in various industries, as well as infrastructure development in emerging economies, are expected to drive global demand for pipes. Plumbing pipes are primarily used in residential applications to transport potable water and wastewater.
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Rising Application of Metal Pipes in Commerical Sector to Push the Sales by 5,553 Mn by 2032
Commercial buildings such as hospitals, schools, office buildings, and retail stores often have specialized piping systems for different types of fluids. Industrial plants also have their own specific piping needs depending on the type of manufacturing process taking place.
Rising population is indirectly shaping the infrastructure across the globe. New and ongoing construction requires piping system, which in turn is expected to boost the demand for pipes over the coming years.
The market is witnessing growth due to the increasing demand for new build extensions and project investment in developing countries. The commercial segment is expected to hold the largest share and poised to expand at the highest CAGR during the forecast period.
Key Takeaways from Market Study
- By material type, the metal segment is expected to grow at a CAGR of 8% during the forecast period.
- By diameter, the metal segment is anticipated to dominate the market of pipes and is further expected to account for about 4% of the market share.
- By end-use, the commercial segment is projected create an absolute dollar opportunity worth US$ 67 Bn in between the forecast period.
- In terms of region, pipes sales in Europe are estimated to exhibit a CAGR of 7% over the forecast period (2022-2032).
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“Increasing residential and commercial infrastructure development coupled with growing construction activities, particularly in developing economies such as India and China will create remunerative growth opportunities for pipes manufacturers.” says a Future Market Insights analyst.
Global Pipes Market Competitive Landscape
Among the industry’s key players are Orbia Advance Corp, ASTRAL POLYTECHNIK Ltd., Geberit AG, Finolex Industries Ltd., Formosa Plastic Corporation, Nan Ya Plastics Corp., Advanced Drainage Systems Incorporated, Polypipe Group Plc, AGRU Kunststofftechnik Gesellschaft M.B.H, FRANK GmbH, Contech Engineered Solutions LLC, Wienerberger AG, Mexichem SAB de CV and others.