Global Plastic Pipe Market - 2022-2029
Plastic pipe market reached US$ XX million in 2021 and is expected to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 4.80% during the forecast period (2022-2029).
A plastic pipe is a hollow cylinder or tubular piece made of plastic. It has a circular cross-section and is mostly used to transport things that can flow, such as liquids and gases (fluids), slurries, powders and masses of tiny solids. Hollow pipes are significantly stiffer per unit weight than solid parts; hence they can be employed in structural applications.
Plastic pipe systems are suitable for a wide range of applications. The CEN/TC155 standards group develops product standards for plastic pipe systems. These requirements, as well as their characteristics, are detailed in a set of European Product Standards for each application which includes, Conveyance of drinking water: Hygienic requirements, Conveyance of gas: Highest Safety requirements, Plastic pipes for radiant heating and floor heating: Temperature resistance over decades and Sewer applications: High chemical resistance
Plastic pipes are capable of meeting each application's requirements. They do so consistently and safely over a lengthy period. Maintaining continuously high-quality standards is a critical success component. The multiple standards establish these levels for plastic pipe products. Plastic pipes' performance is primarily determined by flexibility and long lifespan.
Growing demand for plastic pipes in the wastewater management sector has boosted the market share for the product.
Growing demand for plastic pipes in the wastewater management sector has boosted the market share for the product
According to USAID, more than 780 million people do not have safe drinking water and 2.5 billion do not have access to basic sanitation facilities. The growing population and rising food demand have resulted in a greater demand for fresh water. Rapid urbanization in developing countries like China, India, Indonesia and others has increased infrastructure spending, including water, power and transportation.
Furthermore, Nations have established stringent regulations to prevent pollution of naturally occurring water bodies and illegal wastewater disposal. Special rules have been enacted in nations like China, which have been severely hit by air pollution, to protect them from the negative effects of wastewater discharge. Developed countries, such as U.S., have strong legislation for drinking water, potable water and wastewater, showing that wastewater treatment is strictly enforced. With such strict legal policies at the international level, it is clear that countries have adopted strong restrictions to combat global warming and safeguard biodiversity. As a result, improper discharge of wastewater effluents is strictly enforced, potentially rendering factories non-compliant.
Since water is an important human amenity, governments are taking steps to meet the growing demand for water for home and agricultural uses by building new water pipeline networks. As a result, rising water management operations, backed by government initiatives, will likely propel the global plastic pipes market forward over the forecast period.
Thus growing investments in wastewater management have encouraged companies to invest in the plastic pipe business. For instance, in 2021, Wavin, a growing company in building and infrastructure solutions, announced the debut of the Wavin Tigris K5/M5 pipe and fittings system. Wavin Tigris K5/M5 is a brand-new press-fitting series with an acoustic leak alert feature that sets new water management standards for metal-plastic pipe connections.
Growing environmental concerns related to plastic have severely challenged the growth of plastic pipes
Plastics are non-biodegradable and contribute to the growing solid waste crisis worldwide. Furthermore, plastic pipes can produce benzene and other hazardous compounds when heated. Plastic's environmental impact will include its carbon footprint, any pollution it causes and nonrenewable resource depletion due to raw material extraction, manufacturing, transportation, installation, maintenance and disposal at the end of its useful life.
PVC pipes are corrosion-resistant and, as a result, survive longer than metal or cement pipes. As a result, it's widely employed for water delivery. Lead stabilizers make PVC pipes last longer, but they also have the potential to harm water.
PVC manufacture is the largest and fastest-growing use of chlorine in U.S., accounting for roughly 40% of all chlorine utilized. CFCs, which damaged the ozone layer, dioxin contamination at Love Canal and Times Beach, Agent Orange, PCBs and DDT pesticides, are examples of chlorine as a basic building component. Hundreds of chlorine-based poisons accumulate in the atmosphere, water and food supply. Many of these chemicals, known as organochlorines, are resistant to decomposition and will last for decades in the environment. According to scientific studies, infertility, immune system damage, decreased childhood development, hormone disruption, cancer and other adverse effects have all been connected to these substances.
These environmental and health considerations have encouraged the adoption of metal pipes as an alternative that has hurdled the growth of plastic pipes and is expected to challenge further in the forecast period due to growing government policies towards reducing plastics in various applications.
COVID-19 Impact Analysis
The COVID-19 pandemic had a severe impact on several economies worldwide. Thus, to prevent the spread of the pandemic and its impacts, governments worldwide have enforced partial or entire lockdowns, affecting a wide range of plastic pipe end-users, including water and wastewater treatment.
In the first two quarters of 2020, COVID-19 only impacted the wastewater treatment service in industrial applications. According to an article, the pandemic has damaged wastewater treatment services for industrial uses since industries were shut down due to lockdown limitations and no production, which lowered wastewater production and reduced the demand for plastic pipes.
In addition, in the December 2021 quarter (Q3), performance and near-term demand worry due to the spread of the Omicron variant of the coronavirus that has put pressure on the stocks of the major plastic pipe makers. PVC prices have corrected by almost 20% since their October 2021 price peak. PVC manufacturers reduced prices in November following an October price rise. Distributors have been reducing inventories due to the downward price trend. Volumes are anticipated to suffer, harming the companies in the forecast period.
The global plastic pipe market is segmented on material, application, end-user and region.
Due to PVC chemical resistance, durability, low cost, recyclability and other characteristics, it can be used to replace wood, metal, concrete and clay in various applications.
The global plastic pipe market is segmented into PVC, cPVC, PE, PP, ABS and Fiber Glass. PVC is expected to show the highest market share globally among the mentioned materials. After polyethylene and polypropylene, polyvinyl chloride (PVC) is the third most popular material. Because of its chemical resistance, durability, low cost, recyclability and other characteristics, it can be used to replace wood, metal, concrete and clay in various applications. PVC resin is majorly used in piping and piping systems. These are corrosion-resistant, cost-effective, flame-resistant, simple to install and handle, environmentally friendly and have a long service life.
Furthermore, Water supply, irrigation, plumbing and other applications follow sewer and drain as the most profitable applications for PVC pipes. The demand for PVC pipes in the global market is driven by significant demand in various sectors and infrastructure development in emerging economies. Furthermore, to control and protect consumers' interests, the EPA, REACH and other regulatory authorities have issued specific recommendations for using PVC material in diverse industries. Due to an expansion in the building and irrigation sectors, Asia-Pacific is the key region driving demand for PVC pipe products.
However, high-density polyethylene (HDPE) and acrylonitrile-butadiene-styrene (ABS) are two polymers that can replace PVC pipes, which hurdles the market growth for the segment. These materials have several advantages over PVC, including lower cost, greater environmental friendliness, less weight and greater flexibility.
Furthermore, compared to PVC pipes, ABS & HDPE pipes are highly suited for the oil & gas and chemical industries, ground & underground installations and indoor plumbing applications. Unlike PVC pipes, these pipes do not require plasticizers or stabilizers and they can be adjusted to have certain PVC pipe qualities. The above issues could limit the PVC pipe market during the projected period.
Growing wastewater treatment services and expanding residential cities in North America have created huge market growth potential for the plastic pipe products
North America has the biggest proportion of residents living in cities, followed by Latin America and Europe. According to estimates, municipalities in U. S. are set to invest USD 300 billion in water infrastructure over the next decade. Because plastic pipes carry most water supplies, this investment is expected to strengthen the plastic pipe market.
Furthermore, North America is the world's largest market for wastewater treatment services. U.S., Canada and Mexico are all important countries in the region. Because the North American market is mature, it is expected to grow slower during the next five years. In addition, the government is also investing in the wastewater treatment sector, creating opportunities for the plastic pipe to grow in the region. For instance, in 2021, the House Transportation and Infrastructure Committee confirmed a US$50 billion investment in the next five years for wastewater management, flood control and other water-related infrastructure.
The global plastic pipe market is highly competitive with local and global key players. Key players contributing to the market's growth are Aliaxis Group S.A., Sekisui Chemical Co., Ltd., Wienerberger AG, JM Eagle, Inc., ASTRAL POLYTECHNIK LIMITED, China Lesso Group Holdings Ltd., Geberit AG, Nan Ya Plastics Corp., Finolex Industries Ltd., Chevron Phillips Chemical Company, Formosa Plastics Corporation among others.
The major companies are adopting several growth strategies such as product launches, acquisitions and collaborations, contributing to the global growth of the plastic pipe market.
• On July 6, 2021, North American Pipe Corporation (NAPCO), a subsidiary of Westlake Chemical Corporation, announced the news of purchasing LASCO Fittings, Inc., a premier designer, engineer and manufacturer of injected-molded PVC fittings situated in Brownsville, Tennessee, from Aalberts, Nevada. By adding LASCO Fittings to the product mix, NAPCO will be able to develop into new areas, particularly since LASCO specializes in half-inch to four-inch fittings and serves the plumbing, pool and spa, industrial, irrigation and retail markets in U.S. LASCO's product mix complements THE existing range of pipe and fittings products, typically with sizes of four inches or greater and will expand NAPCO's fittings portfolio.
Finolex Industries Ltd
Overview: FinOlex Industries Limited, based in Pune, is the market leader in providing PVC pipes and fittings for agriculture and non-agricultural applications such as housing, industry and construction. FinOlex Industries Limited, with a production capacity of 2,80,000 MT per year, is India's largest backward integrated PVC pipe and fittings producer. They have cutting-edge manufacturing operations in Maharashtra's Pune and Ratnagiri and Gujarat's Masar, enabling them to give significant resources to serve consumers better.
Product Portfolio: CPVC PIPES: CPVC Pipes are premium products with high-quality raw materials and cutting-edge technology suitable for hot and cold water applications. Compared to traditional plastic piping systems, these pipes can sustain higher temperatures. Finolex CPVC pipes are a fantastic substitute for GI and ordinary pipes since they are lightweight, non-corrosive and long-lasting. These pipes are made out of lead-free materials. As a result, they are secure, healthy and environmentally friendly.
• In 2017, The Lubrizol Corporation and FinOlex Industries Limited, India's largest PVC pipes and fittings manufacturer, signed a FlowGuard Processor agreement for manufacturing and selling FinOlex FlowGuard Plus CPVC pipes and fittings in India. FinOlex Industries will introduce the product in April 2017 and target the housing and real estate sectors.
• In 2021, The company launched a new variant of Conduits Pipe
Why Purchase the Report?
• Visualize the global plastic pipe market segmentation by material, application, end-user and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the plastic pipe market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global plastic pipe market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players
The global Plastic Pipe market report would provide approximately 61 market data tables, 58 figures and 215 pages.
Target Audience 2022
• Service Providers/ Buyers
• Research Laboratory
• Restaurant Business
• Energy & Utilities Companies
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