Polyethylene Pipes & Fittings Market Trends, Forecast 2030
In terms of value, the global polyethylene pipes & fittings market is expected to reach ~US$ 20 Bn by 2030, expanding at a CAGR of ~6% during the forecast period. Rise in demand for polyethylene pipes and fittings in various applications such as water supply, oil & gas supply, and agricultural water supply is a key factor driving the global polyethylene pipes & fittings market. Additionally, growth of the global building & construction industry is anticipated to fuel the global polyethylene pipes & fittings market during the forecast period.
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Key Drivers of Polyethylene Pipes & Fittings Market
The global polyethylene pipes & fittings market is primarily driven by the increase in usage of polyethylene pipes and fittings for water distribution in the water and wastewater treatment industry. Rise in investment in housing, infrastructure, and agriculture activities is estimated to boost the demand for polyethylene pipes and fittings across the globe. Water supply is the major requirement in construction and agricultural activities. This is projected to propel the demand for pipes and fittings. In turn, this is likely to augment the polyethylene pipes & fittings market. Over the last few years, demand for water distribution and service pipes has increased significantly in the building & construction sector, led by the rise in new housing construction and non-residential building activities. This has boosted the polyethylene pipes & fittings market.
High Density Polyethylene Pipes and Fittings to Witness High Demand
The high density polyethylene segment accounted for a significant share of the global polyethylene pipes & fittings market in 2019, as HDPE is highly moldable and relatively inexpensive material. HDPE pipes sustain high-pressure water flows. These pipes are used in underground water systems; plumbing, drainage, and sewage infrastructure; and farm irrigation systems. The demand for LDPE material in pipes and fittings is projected to rise at a significant pace during the forecast period, owing to the property of the material to withstand higher temperatures vis-à-vis HDPE. LDPE offers various advantages such as safety of potable water; long-term reliability; and resistance to corrosion, tuberculation, and deposits.
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Rise in Demand for Polyethylene Pipes and Fittings for Use in Water Distribution Application
Low cost and easy installation of polyethylene pipes is a major factor driving the demand for polyethylene pipes in residential, commercial, and agriculture sectors. Demand for polyethylene pipes has been rising significantly since the last few years, owing to the replacement of traditional metal pipes with polyethylene pipes. Increase in demand for pipes in irrigation and the building & construction sectors is a major factor driving the demand for pipes and fittings for water distribution. Rise in governmental focus on rural water management is also boosting the demand for polyethylene pipes. Suitability of polyethylene pipes & fittings in industrial applications is expected to propel the demand for gas distribution. Polyethylene pipes and fittings are extensively used in new medium- and low-pressure natural gas distribution systems and repairing of older steel and cast iron systems.
Asia Pacific Holds Prominent Share of Polyethylene Pipes & Fittings Market
In terms of volume, Asia Pacific accounted for a leading share of the global polyethylene pipes & fittings market in 2019, led by the rise in investments by governments of China, India, and Thailand in the construction sector. High production costs and intense competitiveness are anticipated to compel companies in Europe to continue to shift their manufacturing bases to Asia Pacific. The polyethylene pipes & fittings market in North America is estimated to expand at a significant pace during the forecast period. The presence of a large number of domestic manufacturers in the U.S. and Canada and rise in demand for polyethylene pipes and fittings in the industrial sector are projected to propel the polyethylene pipes & fittings market in the region during the forecast period.
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Key Players in Polyethylene Pipes & Fittings Market
The global polyethylene pipes & fittings market is fragmented, with the presence of several domestic players that operate at regional or country level. Companies functioning in the global polyethylene pipes & fittings market are investing significantly in research and development activities to produce application specific pipes and fittings. Major players operating in the global polyethylene pipes & fittings market include Dow Chemical Company, Advanced Drainage Systems, Inc., BLUE DIAMOND INDUSTRIES, LLC, Apollo Pipes, Supreme Pipes, Watts Water Technologies, Inc., Uponor, and Quick Fitting Inc.
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