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Plastic Pipes & Fittings Market: Navigating Industry Trends, Market Segmentation & Competitive Landscape
Plastic Pipes And Pipe Fittings Market
As per the report, the plastic pipes and pipe fittings market size has grown rapidly in recent years. It will grow from $80.27 billion in 2023 to $88.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The plastic pipes and pipe fittings market size is expected to see rapidly grown in the next few years. It will grow to $127.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
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Surging Construction Demand Propels Growth In Plastic Pipes And Pipe Fittings Market
The increased construction demand for housing facilities is expected to propel the growth of the plastic pipes and pipe fitting market. Construction is the process of building physical structures or infrastructure using tools, materials, and techniques to meet certain specifications or requirements. Plastic pipes and pipe fittings are used in construction for plumbing, drainage, and HVAC (heating, ventilation, and air conditioning) systems in houses due to their durability, ease of installation, and cost-effectiveness compared to traditional metal alternatives. For instance, according to data by the Office for National Statistics, a UK-based independent producer of official statistics and the recognized national statistical institute, construction output increased by 1.7% in volume terms in March 2022 in comparison with February data in the UK. The rise in repair and maintenance (3.0%) and new work (1.0%) activity drove the increase in monthly construction production in March 2022. Therefore, the increased construction demand for housing facilities is driving the growth of the plastic pipes and pipe fitting market.
Innovation Drives Evolution In The Plastic Pipes And Pipe Fitting Market
Product innovation is a key trend gaining popularity in the plastic pipes and pipe fitting market. Major companies operating in the plastic pipes and pipe fitting market are developing innovative products to sustain their position in the market. For instance, in November 2021, GF Piping Systems, a Switzerland-based piping company, introduced bio-attributed materials to all its market-leading polyvinyl chloride (PVC-U) metric pressure pipes, fittings, and valves produced in Europe. The sustainable PVC resin made using tall oil, a waste product from paper production will see up to 90% reduction in the CO2 emission during production versus conventional PVC while still maintaining the highest quality, durability, and recyclability.
The plastic pipes and pipe fittings market covered in this report is segmented -
1) By Type: Polyvinyl Chloride (PVC) Pipes, Polyethylene (PE) Pipes, Polypropylene (PP) Pipes, Other Types
2) By Structure: Organized, Un-Organized
3) By Application: Residential Fitting, Water Supply, Sewage Systems, Oil and Gas, Heating, Ventilation And Air-Conditioning Systems (HVAC), Manufacturing, Agricultural Applications, Other Applications
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Major companies operating in the plastic pipes and pipe fittings market report are Available Plastics Inc., Inline Plastics LLC, Kimplas Piping System Limited, WL Plastics Inc., Applied Plastics Co. Inc., Lincoln Plastics Inc., NewAge Industries Inc., Ductile Iron Pipe Manufacturers, Omega Plastics Inc., Contech Engineered Solutions LLC, W.P. Law Inc., Interstate Pipe & Supply Co. Inc., Continental Steel & Tube Co. Inc., Compressed Air Systems Inc., Emco Industrial Plastics LLC, Aliaxis Group SA, ArcelorMittal SA, BASF SE, Charlotte Pipe and Foundry Co., Victaulic Co., Caylor Industrial Sales Inc., Colonial Teltek, Guenther Supply Inc., JM Eagle Inc., Wavin B.V., Pipelife International GmbH, China Lesso Group Holdings Limited, IPEX Inc., Chevron Phillips Chemical Company LP, GPS PE Pipe Systems, Georg Fischer Harvel LLC, Astral Poly Technik Limited, Advanced Drainage Systems Inc., Sekisui America Corporation, Polygon Company Limited, Rifeng Enterprise Group Co. Ltd., Weixing New Material Co. Ltd., Kubota ChemiX Corporation, Dutron Polymers Limited, Aquatherm GmbH, Nanxin Pipeline Piping Co. Ltd., Hsiung Yeu Enterprise Co. Ltd., Pestan Plastics LLC, Charter Plastics Inc., Advanced Plastic Industries Inc., Alphacan SpA, Borealis AG, Georg Fischer LLC .
Contents of the report:
1. Executive Summary
2. Plastic Pipes And Pipe Fittings Market Report Structure
3. Plastic Pipes And Pipe Fittings Market Trends And Strategies
4. Plastic Pipes And Pipe Fittings Market - Macro Economic Scenario
5. Plastic Pipes And Pipe Fittings Market Size And Growth
…..
27. Plastic Pipes And Pipe Fittings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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