Pipes Market By Leading Key Players Projected to Reach $209.1 billion by 2032

Materials commonly utilized for pipe manufacturing include metal, thermoplastic, concrete, and thermoset & composite materials. In 2022, the metal pipes segment dominated the market in revenue terms, driven by their widespread adoption in industrial and large-scale applications within the water & wastewater, and oil & gas sectors. However, the thermoplastic pipes segment is anticipated to exhibit a higher compound annual growth rate (CAGR) during the forecast period due to increased demand for specialized pipes catering to advanced applications.

Global Pipes Market size was valued at $119.5 billion in 2020, and is projected to reach $209.1 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.

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Additionally, in terms of volume, the market was valued at 151.7 million tons in 2020 and is projected to reach 248.1 million tons by 2032, registering a CAGR of 3.9% during the same period.

The market analysis encompasses various pipe applications across industrial and non-industrial verticals such as water & wastewater, industrial, oil & gas, among others. The water & wastewater segment held a significant market share in revenue terms in 2022, primarily attributed to increased construction activities necessitating pipes for water supply and sewage disposal. However, the industrial segment is expected to witness the highest CAGR during the forecast period, driven by rapid industrialization in developing nations.

Market growth is predominantly fueled by the surge in residential and commercial construction activities, which rely on pipes for plumbing and firefighting installations. Additionally, the expanding industrial sector, utilizing pipes of both large and smaller diameters for fluid transmission purposes, notably water, oil, gas, and slurries, constitutes another significant driver for the pipes market.

Moreover, the construction of water and other pipelines, including oil and gas pipelines, in both developed and developing countries positively impacts the industry. Nonetheless, fluctuations in raw material costs utilized in pipe manufacturing are anticipated to hamper market growth in the forthcoming years.

Various businesses within the pipes market are expected to experience a subdued growth rate in the near future, attributed to the impending recession in major countries triggered by the Ukraine-Russia conflict. Inflation has already resulted in increased material prices across various industrial sectors, which are key end-users of pipes and related products.

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Leading Market Players: -

ASTRAL LIMITED
Prince Pipes and Fittings Ltd.
ArcelorMittal
JM EAGLE, INC.
Nippon Steel Corporation
Tata Steel Limited
Tenaris SA.
United States Steel Corporation
Sumitomo Corporation
Nucor Corporation (Nucor Tubular Products)

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