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Plastic Pipes and Shapes Manufacturing Market By End Users Analysis - Oil and Gas, Sewage, Irrigation, Industrial Use & Others

10-28-2019 12:16 PM CET | Health & Medicine

Press release from: The Business research company

Global Plastic Pipes and Shapes Manufacturing Market

Global Plastic Pipes and Shapes Manufacturing Market

The global plastic pipes and shapes market reached a value of nearly $106.5 billion in 2018, having grown at a compound annual growth rate (CAGR) of 5.3% since 2014, and is expected to grow at a CAGR of 6.5% to nearly $137.1 billion by 2022.

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Major Competitors are Mexichem, S.A.B. de C.V., Aliaxis Group S.A. / N.V., China Lesso Group Holdings Limited, Chevron Phillips Chemical Company LLC, Sekisui Chemical Co., Ltd.

Growth in the historic period resulted from the rise in demand from the irrigation industries, sanitation programs in underdeveloped and developing companies, government investments for infrastructural development, economic growth in emerging countries, and low oil prices. Factors that negatively affected growth in the historic period were labor safety concerns, health concerns related to PVC pipes for the supply of drinking water, and government regulations on stabilizers used in plastic pipes manufacturing.

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The plastic pipes and shapes market is expected to benefit from the rising awareness of advantages of plastic pipes and fittings over their substitutes. Plastic pipes and fittings are lighter in weight and cheaper than traditionally used metal pipes, and they do not rust or corrode. Plastic pipes also have insulative properties, which prevent the forming of condensation on pipes carrying cold water and decrease the heat loss in pipes carrying hot water.

The top opportunities in the global plastic pipes and shapes market will arise in the plastic pipes and pipe fittings segment which will gain $21.49 billion of global annual sales by 2022. The plastic pipes and shapes market size will gain the most in China at $10.71 billion. Market-trend-based strategies for the plastic pipes and shapes market include adoption of 3D technologies, investments in the development of antimicrobial additives, and development of multilayer plastic pipes. Player-adopted strategies in the plastic pipes and shapes industry include reinforcing M&A strategies, developing innovative products through collaborations, and enhancing operations through sustainable investments.

Asia-Pacific was the largest region in the plastic pipes and shapes market, accounting for 45.6% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest growing regions in the plastic pipes and shapes market will be Asia-Pacific and the Middle East.

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