Plastic Pipes Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The plastic pipes market size is projected to reach US$ 103.51 billion by 2031 from US$ 65.41 billion in 2023; the market is expected to register a CAGR of 5.9% during 2023–2031. The use of sustainable materials in plastic pipe manufacturing is expected to be a key trend in the market.

Plastic Pipes Market Analysis

The growing residential and commercial construction activities are driving the plastic pipes market growth. The housing market growth is attributed to factors such as population increase, urbanization, and favorable economic conditions. According to Redfin, the number of houses sold in January 2024 was 284,121; 1.8% higher than the number sold in January 2023 in the US. Residential construction is a crucial component of the private sector. It witnessed a noteworthy increase to a seasonally adjusted annual rate of US$ 856.3 billion in June 2023, marking a 0.9% rise from the revised May estimate of US$ 848.6 billion. In March 2023, the government launched the Housing Accelerator Fund worth US$ 2.96 billion to aid in the building of at least 100,000 homes across Canada. In construction, plastic pipes are used in water supply, plumbing, HVAC systems, and fire suppression systems. Plastic pipes are used in residential plumbing for both hot and cold water lines.

Plastic Pipes Market Overview

The global plastic pipes market has been experiencing significant growth, driven by the growing construction industry and rising water and wastewater management initiatives worldwide. The market growth is attributed to rapid industrialization and urbanization, particularly in emerging economies. In addition, the global transition toward sustainability initiatives has influenced the plastic pipes market, with manufacturers increasingly focused on incorporating eco-friendly formulations.

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Plastic Pipes Market: Strategic Insights

Plastic Pipes Market

• 
  CAGR (2023 - 2031)

  5.9%
• Market Size 2023
  US$ 65.41 Billion
• Market Size 2031
  US$ 103.51 Billion

Market Dynamics

GROWTH DRIVERS

• Growing Residential and Commercial Construction Activities
• Surging Water and Wastewater Infrastructure Development

FUTURE TRENDS

• Innovations in Plastic Pipe Formulation and Production Processes

OPPORTUNITIES

• Use of Sustainable Materials in Plastic Pipe Manufacturing

Key Players

• JM Eagle Inc
• Georg Fischer Ltd
• Sekisui Chemical Co Ltd
• China Lesso Group Holdings Ltd
• Finolex Industries Ltd
• Genuit Group Plc
• Vasen Europe
• Luna Plast
• Orbia
• Aliaxis Holdings SA

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Corrugated
• Smoothwall

Material Type

• Polyvinyl Chloride
• High-Density Polyethylene
• Polypropylene

Application

• Water Supply
• Sewage and Drainage
• Irrigation
• Gas Distribution

End-Use Industry

• Construction and Infrastructure
• Water and Wastewater Management
• Oil and Gas

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Plastic Pipes Market Drivers and Opportunities

Surging Water and Wastewater Infrastructure Development

Urban wastewater treatment plants that integrate resource recovery and energy production processes with clean water production contribute significantly to the sustainable development of any country. Over the past two decades, the demand for wastewater treatment has increased due to the trend of recovering water from energy generation processes. A report published by the United Nations Department of Economic and Social Affairs in 2022 highlights the rising interdependency of water and energy generation, with the increasing demand for each of these resources in many regions. According to the current policy scenario of the International Energy Agency, energy consumption is projected to increase by 50% by 2035, boosting water consumption of the energy sector by 85%.

Stringent government regulations regarding wastewater management, such as the treatment of industrial effluents prior to releasing them in waterbodies, have prompted the development of wastewater infrastructure. The Environmental Protection Agency (EPA), US, issued the National Pollutant Discharge Elimination System memorandum in December 2022. This memorandum involves the authorization of states and municipalities to administer the National Pollutant Discharge Elimination System and pretreatment programs. This extended version aimed to improve the older version of the system (rolled out in April 2022) to incorporate supplemental permitting mechanisms and recommendations and accelerate efforts to reduce PFAS discharges to water bodies. Thus, the surge in water and wastewater infrastructure development fuels the plastic pipes market growth.

Innovations in Plastic Pipe Formulation and Production Processes

The plastic pipes market is witnessing several innovations in plastic formulations and production processes. These advancements are aimed at improving the performance, sustainability, and cost-efficiency of plastic pipes. The recent developments in technology and material science have paved the way for nanotechnology, integration of smart sensors, and additive manufacturing in the plastic pipes market. The integration of nanotechnology in plastic pipe manufacturing involves the utilization of nanocomposites for the improvement of the mechanical properties of materials. Researches are aimed at exploring the potential for incorporating nanomaterials in PVC pipes to improve their properties while preserving their inherent characteristics. This application of nanotechnology represents an advancement as it addresses critical performance aspects of plastic pipes and diversifies their applications.

Plastic Pipes Market Report Segmentation Analysis

Key segments that contributed to the derivation of the plastic pipes market analysis are type, material type, application, and end-use industry.

• By type, the market is segmented into corrugated and smoothwall. The corrugated segment is further categorized into single-wall and multi-wall. The smoothwall segment dominated the market in 2023.
• By material type, the market is segmented into polyvinyl chloride, high-density polyethylene, polypropylene, and others. The polyvinyl chloride segment dominated the market in 2023.
• By application, the market is segmented into water supply, sewage and drainage, irrigation, gas distribution, and others. The water supply segment dominated the market in 2023.
• By end-use industry, the market is segmented into construction and infrastructure, water and wastewater management, oil and gas, and others. The construction and infrastructure segment dominated the market in 2023.

Plastic Pipes Market Share Analysis by Geography

The geographic scope of the plastic pipes market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Asia Pacific held the largest market share in 2023 and is expected to register the highest CAGR during the forecast period. Europe held the second-largest plastic pipes market share in 2023. Asia Pacific is a prominent market for plastic pipes owing to growth in the construction industry, wastewater treatment facilities, and oil & gas sector. The rise in foreign direct investments in emerging economies also leads to regional economic growth, further bolstering industrialization in the region. The demand for oil and gas is increasing in Asia Pacific. According to the International Energy Agency, the global oil demand rebounded in 2021, and Asia is expected to account for 77% of oil demand by 2025. Asian oil import requirements are expected to surpass 31 million barrels per day by 2025. All major Asian economies heavily depend on oil imports from the Middle East & Africa. Various countries in the region have initiated projects to cater to the growing demand for oil and gas. For instance, in April 2023, Asia's largest underwater hydro-carbon pipeline, below the river Brahmaputra connecting Jorhat and Majuli in Assam, India, was completed by the Indradhanush Gas Grid Limited (IGGL). Further, the growing investment in infrastructure projects in Asia Pacific is expected to bolster the plastic pipes market during the forecast period.

Plastic Pipes Market Report Scope

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Plastic Pipes Market News and Recent Developments

The plastic pipes market is evaluated by gathering qualitative and quantitative data post-post-primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the plastic pipes market are listed below:

• Advanced Drainage Systems (ADS) announced its plans to build a new manufacturing facility in Lake Wales, Florida. ADS produces large quantities of corrugated plastic pipe. The project is expected to break ground in 2024 on a 100-acre site. (Plastics Technology, Company website/ News/ 2023)
• Uponor has produced the world's first circular Uponor PEX pipe based on 100% chemically recycled raw material derived from the company's own PEX pipe production waste, using an ISCC PLUS-certified mass-balancing approach. This groundbreaking solution was enabled by cooperation between Uponor, Wastewise, Neste, and Borealis, which have successfully managed to chemically recycle PEX pipe manufacturing waste on an industrial scale back to plastic raw material. (Uponor Corporation, Company website/ 2023)

Plastic Pipes Market Report Coverage and Deliverables

The "Plastic Pipes Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Plastic pipes market size and forecast for all the key market segments covered under the scope
• Plastic pipes market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter's Five Forces and SWOT analysis
• Plastic pipes market analysis covering key market trends, country framework, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the plastic pipes market
• Detailed company profiles