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Polyethylene Pipes Market Statistics, Size, Strategies, Growth 2033
Polyethylene Pipes Market Size
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According to The Business Research Company's, The polyethylene pipes market size has grown strongly in recent years. It will grow from $9.31 billion in 2023 to $9.9 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to infrastructure development projects, growing construction activities, replacement of aging pipelines, water conservation initiatives, cost-effective material.
The polyethylene pipes market size is expected to see strong growth in the next few years. It will grow to $12.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to expansion of gas distribution networks, renewable energy projects, urbanization and infrastructure needs, water and wastewater management, global push for plastic pipe usage. Major trends in the forecast period include renewable energy projects, focus on leak detection and prevention, investments in research and development, technological integration.
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Market Drivers and Trends:
Rising wastewater treatment and water foundation are driving the demand in the polyethylene pipes market going forward. Wastewater treatment and water foundation refer to the process of transforming wastewater into water that can be released back into the environment. Due to their high manufacturing capacity, smooth surface wall, flexible connection, minimal leakage, portability, simple construction, and low-price, polyethylene pipes are a great option for drainage pipes used in residential sewage treatment projects. For instance, in July 2022, according to the report published by The International Trade Administration (ITA), a US-based Department of Commerce agency that promotes the export of non-agricultural goods and services, Australia's water and wastewater treatment sector exhibited growth, with the total market size reaching an estimated $1,410 million in 2022, reflecting an ongoing commitment to addressing water challenges. The government's allocation of funding for new and augmented projects, coupled with the establishment of the $2.5 billion National Water Grid Fund, underscores the nation's focus on securing future water supply as a key long-term priority. Therefore, the rising wastewater treatment and water foundation will drive the growth of the polyethylene pipes market.
Technological innovation is a key trend gaining popularity in the polyethylene pipes market. Major players in the polyethylene pipes sector are focused on technological innovations to sustain their marketplace. For an instance, in September 2021, SABIC, a Saudi Arabia-based chemical manufacturing company introduced new technology along with polyethylene (PE) and polypropylene (PP). A new generation of lightweight, stronger, and more energy- and money-efficient pipe systems will be made possible by the BiAx stretching technology. SABIC's revolutionary BiAx Pipe technology offers significant increases in every performance criterion of polyethylene pipes.
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Major Key Players of the Market:
Kubota ChemiX Co Ltd., Flying W Plastics Inc., Applied Plastics Co, Inc., Furukawa Electric Co Ltd., Wavin B.V., Contech Engineered Solutions, Polyplastics Co Ltd., Jain Irrigation Systems Ltd., Genuit Group, Pipelife International GmbH, COSMOIND Co Ltd., Cangzhou Mingzhu Plastic Co Ltd., NewAge Industries, WL Plastics Corp, Olayan Group, Asahi/America Inc, Blue Diamond Industries, Pacific Corrugated Pipe Ltd., Chemtrol Industries Private Limited, Nandi Group, Compressed Air Systems, Inc., Speed Field Services, Lane Enterprises Inc., Dura-Line India Pvt Ltd., Tianjin Junxing Pipe Group Co Ltd., Ginde Pipe, Maanshan Goody Plastic Co Ltd., Kazanorgsintez PJSC, IPEX USA LLC, CertainTeed Corporation
Polyethylene Pipes Market 2024 Key Insights:
• The polyethylene pipes market size is expected to see strong growth in the next few years. It will grow to $12.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Demand Surge In Polyethylene Pipes Market Driven By Water Foundation Expansion
• Rising Popularity Of Technological Innovation In Polyethylene Pipes Market
• North America was the largest region in the polyethylene pipes market share in 2023
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