Global Plastic Pipes Market is expected to growth at a robust CAGR in next 5 years, says a report by Ken Research.
1. Trend of using antimicrobial additives for plastic pipes to prevent diseases is catching attention in PVC market globally.
To improve hygiene, construction companies are increasingly using antimicrobial additives in plastic pipes. Concerns are growing about the consumption of drinking water delivered via PVC and PEX pipes used in residential and commercial buildings. The main concerns are the leaching of chemicals, which can give water a plastic taste, as well as the leaching of bacteria, which can inhibit the growth of waterborne diseases. Antimicrobial additives prevent chemical leakage into the drinking water supply and inhibit the growth of major waterborne disease sources such as harmful bacteria, fungi, mould, and algae. Polypipe, Parx Plastics N.V., and Polyone are among the major manufacturers of antimicrobial additives for plastic products.
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2. In contrast to China, which is expected to grow at a 6.3% CAGR, the U.S. market is estimated to be worth around USD 5-10 Bn.
According to estimates, the American market for plastic pipes was worth around USD 5-10 Bn in 2020. China, the second-largest economy in the world, is anticipated to reach a projected market size of more than USD 20 Bn by the year 2027, growing at a CAGR of 6.3% from 2020 to 2027. Japan and Canada are two more important geographic markets, with growth rates of 4% and 4.7%, respectively, expected between 2020 and 2027. Germany is anticipated to expand within Europe at a CAGR of roughly 4.8%.
3. More than one-third of pipe market sales are expected to come from the commercial sector.
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Throughout the anticipated period, the pipes market will be dominated by the commercial sector in terms of end use. By 2032, the commercial sector will have a value-based share of more than 33.3%. The growth of the pipes market will be facilitated by the expansion of commercial infrastructure across developing nations like India, China, and Japan. Additionally, the use of pipes to upgrade the infrastructure will be accelerated by increased expansion in the residential and commercial sectors across the U.S., the U.K., and other industrialized nations.
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