Plastic Pipes Market is expected to reach US$ 103.51 Billion by 2031

Growing Residential and Commercial Construction Activities to Bolster Plastic Pipes Market Growth  

According to our latest market study on "Plastic Pipes Market Size and Forecast to 2031 – Global Analysis – by Type, Material Type, Application, and End-Use Industry," the market was valued at US$ 65.41 billion in 2023 and is projected to reach US$ 103.51 billion by 2031; it is anticipated to record a CAGR of 5.9% from 2023 to 2031. The report includes growth prospects along with the plastic pipes market trends and their foreseeable impact during the forecast period.

The plastic pipes market report emphasizes the key factors driving the market. In February 2023, China launched an inbound investment program called the Qualified Foreign Limited Partnership (QFLP), which involved at least US$ 4.37 million of fundraising in its first round. The scheme is aimed at investing in residential and commercial housing projects. During the 14th Five-Year Plan (2021–2025) period, China announced its plans to allocate 6.5 million government-subsidized rental homes in 40 key cities to assist an estimated 13 million people in need of affordable housing. Nearly 219,000 old residential communities constructed in urban areas before the end of 2000 are likely to be renovated by 2025 to provide more housing. Further, according to a report released by the US Census Bureau, the value of total construction (private and public) investment in 2023 was US$ 1,978.7 billion, a 7% increase from investments of US$ 1,848.7 billion in 2022. Plastic pipes are extensively used in construction applications due to their versatility, durability, and cost-effectiveness. PVC, PEX, and HDPE are preferred materials due to their ease of installation and long lifespan. In commercial construction, plastic pipes are used in water supply, plumbing, HVAC systems, and fire suppression systems. Plastic pipes are used in residential plumbing for both hot and cold water lines. Thus, the rise in residential and commercial construction activities drives the plastic pipes market growth.

Global Plastic Pipes Market Breakdown – by Region

Major end-use industries of plastic pipes include construction, water and wastewater management, and oil and gas. Plastic pipes are used for plumbing, drainage, and sewage systems in residential, commercial, and industrial buildings. In agriculture, plastic pipes play a crucial role in irrigation systems and water management. Plastic pipes are used to transport oil, gas, and other fluids in exploration and production activities. Urbanization and infrastructure development have resulted in a growing need for efficient water management systems, thereby creating a demand for plastic pipes. The products are supplied to end users directly via business-to-business sales or the network of independent dealers operating across different regions. End users maintain long-term relationships with plastic pipe manufacturers to ensure a proper and steady supply of high-quality products.

Europe accounted for the second-largest plastic pipes market share in 2023. The increasing utilization of plastic pipes from various industries, including oil & gas, chemicals, and water & wastewater treatment, is propelling the market growth in Europe. According to the European Commission, crude oil and petroleum products account for the largest share of gross inland energy consumption in the EU. Despite decreasing production and fluctuating consumption through the years, crude oil and its derived products still play a significant role in Europe's economy. Oil production in Norway, which is a key European non-EU crude oil producer, increased from a record low of 70.0 Mt in 2019 to 87.4 Mt in 2021. Thus, the increasing consumption of oil and gas in Europe is further advancing the demand for transport mediums. In Germany, 260,200 apartments were approved in 2023, as per the Federal Statistical Office. The Federal Water Act stipulates that pollutants in drainage water must be reduced in line with the best available technology. In March 2023, Germany adopted the national water strategy, which included the development of water infrastructure. In October 2023, Hydro invested ~US$ 3 million in a new water treatment plant at the Schwandorf legacy site in Germany. Therefore, such developments are expected to boost the demand for plastic pipes in the country during the forecast period.

Global Plastic Pipes Market: Trends

In response to growing environmental concerns, PVC pipe manufacturers are exploring innovative formulations integrating bio-based plasticizers and stabilizers, such as Bio-PVC, aiming to decrease reliance on conventional additives. For instance, in June 2024, Hanwha designed a bio-attributed PVC by integrating biomaterials into its PVC production. This development highlights the commitment of market players to reduce ecological impact and foster an eco-friendly and socially responsible approach to PVC pipe production. In addition, the key market players are adopting closed-loop recycling technologies to recycle PVC and PE. This strategic closed-loop recycling technology addresses environmental concerns associated with plastic disposal and determines a commitment to circular economy principles. Thus, the use of sustainable materials in plastic pipe manufacturing is expected to become a significant trend in the plastic pipes market during the forecast period.

Based on end-use industry, the plastic pipes market is segmented into construction and infrastructure, water and wastewater management, oil and gas, and others. The construction and infrastructure segment accounted for the largest plastic pipes market share in 2023. The demand for plastic pipes in the construction and infrastructure industry is driven by the construction boom in emerging economies and the development of innovative plastic pipes. PVC, PP-R, and HDPE are favored pipes due to their properties, such as corrosion resistance and cost-effectiveness over conventional materials such as steel or copper. The longevity and low maintenance of plastic pipes make them an attractive option for infrastructure projects, including water supply, sewage systems, and gas distribution networks. The urbanization trend has significantly fueled the development of water supply and appropriate drainage systems. The shift toward smart city projects and modernizing existing infrastructure also plays a major role in driving the demand for plastic pipes.

The key players in the plastic pipes market include JM Eagle Inc, Uponor Corp, Georg Fischer Ltd, Sekisui Chemical Co Ltd, China Lesso Group Holdings Ltd, Astral Poly Technik Limited, Finolex Industries Ltd, Genuit Group Plc, Formosa Plastics Corp, Vasen Europe, Luna Plast, Orbia, Aliaxis Holdings SA, and Advanced Drainage Systems Inc. The market players offer innovative products at affordable prices that attract a large number of consumers, which would open new opportunities for them in the coming years. The plastic pipes market forecast can help stakeholders plan their growth strategies.

The plastic pipes market involves the segmentation of the market based on:

The plastic pipes market analysis is based on type, material type, application, and end-use industry. By type, the market is segmented into corrugated and smoothwall. The corrugated segment is further divided into single-wall and multi-wall. By material type, the market is segmented into polyvinyl chloride, high-density polyethylene, polypropylene, and others. By application, the market is segmented into water supply, sewage and drainage, irrigation, gas distribution, and others. By end-use industry, the market is segmented into construction and infrastructure, water and wastewater management, oil and gas, and others. The scope of the plastic pipes market report focuses on North America (US, Canada, and Mexico), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Asia Pacific (Australia, China, India, Japan, South Korea, and Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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