Press release
Stainless Steel Plumbing Pipes Market Demands Drive Exponentialy at a CAGR of 4.8% by 2030
Stainless Steel Plumbing Pipes Market
The long-lasting nature of stainless steel pipes makes them a preferred choice, ensuring a reliable and extended service life. Their corrosion resistance is a crucial factor, especially in environments where exposure to moisture or harsh substances is common. This attribute helps prevent degradation over time, contributing to the overall longevity of plumbing systems. the global stainless steel plumbing pipes market generated $4.92 billion in 2020, and is expected to reach $8.17 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.
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Rise in construction of malls and offices, surge in spending on home remodeling, and renovation of residential and non-residential bathrooms & toilets drive the global stainless steel plumbing pipes market. However, fluctuation in raw material prices and decrease in new construction activities in African nations hinder the market growth. On the contrary, infrastructural development in developing nations is expected to open new opportunities for the market players in the future.
Stainless steel pipe is used in residential, commercial, and industrial areas for plumbing applications, owing to features such as long durable, corrosion resistant, rigid, robust, and flexible. It is highly effective pipe used for plumbing application and sanitary works. Stainless steel plumbing pipes are used in plumbing applications such as bathtubs, faucets, showerheads, and toilets.
Regional Analysis:
Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific dominated the market in 2020.
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Key Segments:
By Construction Type
Renovation
New Construction
By End User
Residential
Non-residential
By Application
Bathtubs
Faucets
Showerheads
Others
The global stainless steel plumbing pipes market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held the largest share in 2020, accounting for nearly three-fifths of the market. However, the market across LAMEA is estimated to register the highest CAGR of 5.9% during the forecast period.
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Top Manufacturers:
The global stainless steel plumbing pipes market report includes an in-depth analysis of the prime market players such as Geberit AG, Jindal Stainless Limited., Steelmor Industries, Central States Industrial, Mueller Industries Inc., Reliance Worldwide Corporation Limited, Turnkey Industrial Pipe & Supply Inc., Uponor Corporation, Bradley Corporation, and Globe Union Industrial Corp.
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