Global plastic pipe demand to grow with opportunities in water and waste water, agriculture, chemical, oil and gas
The future of the plastic pipe market looks attractive with opportunities in the potable water, waste water supply, electrical and telecommunication, agriculture, chemical, and oil and gas sectors.
As per Lucintel, the global plastic pipe market is forecast to grow at a CAGR of 6.8% from 2015 to 2020. The major growth drivers for this market are infrastructure development, rise in construction activities, replacement of aging pipelines made of traditional materials, growing population, and growing urbanization rate.
In this market, polyvinyl chloride, polyethylene, and polypropylene are the major raw materials used to manufacture plastic pipes. Lucintel predicts that the demand for PE (polyethylene) plastic pipes will experience the highest growth in the forecast period, supported by growing demand in the chemical sector and sewage applications. It is forecast that the waste water supply, agriculture, and chemical sectors are expected to show above average growth during the forecast period.
Within the plastic pipe market, waste water supply is expected to remain the largest application followed by potable water supply applications. The growth of residential and commercial construction and the boom in infrastructure development are expected to spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market as well as have the highest growth over the forecast period due to growth in drainage, sewage, storm, and other waste water supply applications, especially in China and India, with increasing urbanization and high growth in construction and infrastructure development.
For market expansion, the report suggests new product development, where the unique characteristics of plastic pipes can be capitalized. Emerging trends, which have a direct impact on the dynamics of the industry, are the usage of anti-microbial plastic pipes to improve hygiene and replacement of traditional material pipes with eco-friendly ABS and PE plastic pipe Mexicali SAB de CV, China LESSO Group Holdings Limited, Sekisui Chemical Co., Ltd, Formosa Plastics Group, and Advanced Drainage Systems Inc. are among the major manufacturers of plastic pipes.