CLEVELAND, February 17, 2021 / PRNewswire / – Plastic pipe has entered most construction applications with small diameter due to its light weight, low cost and ease of installation. Going forward, plastic pipe is also expected to gain traction in applications with larger diameters, such as water and sewer, oil and gas, and industrial processing.
The intensity of plastic pipe use varies according to market. In the global construction market, plastic is the main pipe material, and in oil and gas applications, plastics make up only a small proportion of the total wear of the pipe.
Although plastic pipe is well suited for construction applications, it has been used in industrial and oil and gas situations so often due to its high temperature, corrosive chemicals and high pressure. However, innovations and improvements in resin molding have added to the tensile and chemical strength and other performance benefits of plastic pipe, which makes it possible to use it in a wider range of markets.
Demand for plastic pipe is expected to expand at an annual rate of 2.9% through 2024 to 25.7 billion meters:
- Construction will remain the largest market for long plastic pipe. Developments in the construction market will be driven by infrastructure investment in developing countries, in particular China and India. In higher-income countries, advances will be largely limited to repair and replacement activities, as the average growth in new construction is limited by the pandemic economic impact of COVID-19.
- Demand for plastic pipe in the energy market, the second largest plastic pipe market by length, is seeing relatively healthy advances in increasing routes with HDPE pipe over steel in gas circulation applications.
- Agriculture will see the slowest growth of any type of plastic pipe take place due to the lack of significant expansion in the area of global irrigation land.
- The industrial / structural / mechanical market for plastic pipe, which accounts for 6% of pipe demand, is expected to see a solid rise, driven by growth in process manufacturing activity in the Asia / Pacific area.
These trends and more are presented in the new study Global plastic pipe from the Freedonia Group.
About Freedonia Group – Freedonia Group, a division of MarketResearch.com, a leading international business research company publishes more than 100 surveys each year. Since 1985 we have researched growing customers from global collections to one-to-one consulting firms. More than 90% of the business companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyzes and forecasts, in-depth discussions of key industry trends, and market segment information. Surveys can be purchased at www.freedoniagroup.com and are also available at www.marketresearch.com and www.profound.com.
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SOURCE Freedonia Group
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