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Polyolefin Pipes Market Trends, Top Companies, Share, Growth And Forecast 2033
Polyolefin Pipes Market Trends
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According to The Business Research Company's, The polyolefin pipes market size has grown strongly in recent years. It will grow from $19.11 billion in 2023 to $20.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to infrastructure development, replacement of aging pipelines, chemical industry usage, oil and gas sector demand, sustainable solutions.
The polyolefin pipes market size is expected to see strong growth in the next few years. It will grow to $25.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to global economic factors, infrastructure investments, water management initiative, urban development, pipeline rehabilitation. Major trends in the forecast period include global economic trends, material advantages, market competition and innovation, quality and standards compliance, government initiatives.
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Market Drivers and Trends:
The increasing focus on renewable energy is expected to propel the polyolefin pipes market going forward. Renewable energy refers to energy derived from natural resources that are replenished on a human timescale. Unlike fossil fuels, which are finite and non-renewable, renewable energy sources are sustainable and can be naturally replenished over time. Polyolefin pipes play a vital role in the field of renewable energy, particularly in applications like geothermal heating systems and solar thermal installations. These pipes, often made from materials such as high-density polyethylene (HDPE), exhibit excellent chemical resistance, durability, and thermal stability. In geothermal heating systems, polyolefin pipes efficiently transfer heat from the Earth's interior to buildings for space heating or cooling. Moreover, they are used in solar thermal systems to transport heated fluids, contributing to the generation of clean and sustainable energy. For instance, in December 2021, the International Energy Agency, a France-based intergovernmental organization published an article according to which by 2026, global renewable electricity capacity is forecast to rise more than 60% from the year 2020 levels to over 4 800 GW which is equivalent to the current total global power capacity of fossil fuels and nuclear combined. Renewables are set to account for almost 95% of the increase in global power capacity through 2026. Therefore, the increasing focus on renewable energy is driving the polyolefin pipes market.
Technological advancement is a key trend gaining popularity in the polyolefin pipes market. Major players operating in the market are focusing on developing polyolefin pipes with advanced technologies that provide next-generation features such as lightweight, high strength, energy efficiency, and cost-effectiveness to gain a competitive edge in the polyolefin pipes market. For instance, in September 2021, Saudi Basic Industries Corporation (SABIC), a Saudi-based chemical manufacturing company, launched BiAx Pipe technology along with dedicated polyethylene (PE) and polypropylene (PP) resins. The development of new technology and a variety of specialized polyethylene (PE) and polypropylene (PP) resins represent a substantial advancement in the performance profile of polyolefin pressure pipes. BiAx pipe technology outperforms existing polyolefin pipes across the board in every performance characteristic. The technique makes the pipes more abrasion-resistant and increases their lifespan.
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Major Key Players of the Market:
Agru Kunststofftechnik Gesellschaft GmbH, Advanced Drainage Systems Inc., Aliaxis Group SA, Aquatherm GmbH, Blue Diamond Industries LLC, Chevron Phillips Chemical Company LLC, FPI Industries Pvt. Ltd., Georg Fischer Piping Systems Ltd., JM Eagle Inc., Nan Ya Plastics Corporation, POLYPLASTIC Group Ltd., Prinsco Inc., Radius Systems Pvt. Ltd., Thai-Asia PE, United Poly Systems LLC, WL Plastics Corp., Armtec Inc., Charter Plastics Inc., Infra Pipe Solutions Pvt. Ltd., Pars Ethylene Kish Co., Pipeline Plastics LLC, TeraPlast SA, Vesbo Piping Systems, Borealis AG, Abu Dhabi Polymers Co. Ltd., China Lesso Group Holdings Ltd., Chinaust Group, Egeplast AS, Enaplast International Ltd., Finolex Industries Ltd., Foshan Rifeng Enterprise Co. Ltd., HakaGerodur AG, Hurner-Funken GmbH, IPEX Inc., KWH Pipe Ltd., Nupi Industrie Italiane S.p.A., Sekisui Chemical Co. Ltd.
Polyolefin Pipes Market 2024 Key Insights:
• The polyolefin pipes market size is expected to see strong growth in the next few years. It will grow to $25.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Polyolefin Pipes Market Soars With The Surge In Sprinkler And Drip Irrigation
• Technological Marvels Transforming The Polyolefin Pipes Market
• North America was the largest region in the polyolefin pipes market in 2023
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