Growth Opportunities in Global Plastic Pipe Market 2015-2020: Trend, Forecast, and Market Analysis
According to a new market report published by Lucintel, the future of the plastic pipe market looks goodwith opportunities in the potable water, wastewater supply, electrical and telecommunication,agriculture, chemical, and oil and gas sectors. The global plastic pipe market is forecast to grow at aCAGR of 6.8% from 2015 to 2020. The major growth drivers for this market are infrastructuredevelopment, rise in construction activities, replacement of aging pipelines made of traditionalmaterials, growing population, and growing urbanization rate.
In this market, polyvinyl chloride, polyethylene, polypropylene, and other resins are used tomanufacture plastic pipes. Lucintel predicts that the demand for PE (polyethylene) plastic pipes willexperience the highest growth in the forecast period, supported by growing demand in the chemicalsector and sewage applications. On the basis of its comprehensive research, Lucintel forecasts that thewastewater supply, agriculture, and chemical sectors are expected to show above average growthduring the forecast period.
Within the plastic pipe market, potable water supply is expected to remain the largest market afterwastewater supply applications. The growth of residential and commercial construction and the boom ininfrastructure development are expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to the growth in the construction and industrialsectors.
Asia Pacific and North America are expected to grow significantly by virtue of growing drainage,sewage, storm, and other wastewater supply applications, especially in China and India, due toincreasing urban population and high growth in construction and infrastructure development. Thegrowth rate of the North American plastic pipe market is driven by the growth in residential constructionand replacement of traditional and aging pipelines with plastic pipes.
For market expansion, the report suggests new product development, where the unique characteristicsof plastic pipes can be capitalized. Emerging trends, which have a direct impact on the dynamics of theindustry, are the usage of anti-microbial plastic pipes to improve hygiene and replacement of traditionalmaterial pipes with eco-friendly ABS and PE plastic pipes. Mexichem SAB de CV, China LESSO GroupHoldings Limited, Sekisui Chemical Co., Ltd, Formosa Plastics Group, and Advanced DrainageSystems Inc. are among the major manufacturers of plastic pipes.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global plasticpipe market by application, material type, and region and has come up with a comprehensive researchreport, “Growth Opportunities in Global Plastic Pipe Market 2015-2020: Trend, Forecast, andMarket Analysis.” The Lucintel report serves as a springboard for growth strategy, as it providescomprehensive data and an analysis on trends, key drivers, and directions. The study includes theforecast for the global packaging coating industry through 2020, segmented by application, materialtype, and region as follows:
By application [$ billion shipment from 2009 to 2020]: