News | November 16, 2016

Plastic And Competitive Pipe Market Explores New Growth Opportunities By 2020

Plastic and competitive pipe is used for the conveyance of potable water, wastewater, heating and cooling fluids, foodstuffs, chemicals, gases, compressed air and vacuum system applications. Use of plastic and competitive pipe offers a broad range of advantages such as moderate cost, corrosion resistance, ease of handling and installation and long service life. These advantages further helps in the growth of plastics and competitive market. PVC, HDPE, fiberglass, ABS and CPVC are types of plastic pipe. Other pipe materials include steel, copper, concrete, aluminum, ductile iron and clay. PVC contributes the largest market share in plastics pipe.

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The application of plastics and competitive pipes are used in building and construction industry, electrical and electronics industry, chemical and petroleum industry. The growing expenditure on building construction further increases the demand of plastics and competitive pipe. Increasing construction of residential market, increasing housing completions and growing construction of kitchen and bathroom leads to boost the demand for drain, waste, and vent pipe. To conduct proper electrical and telecommunication wiring, use of plastics pipe is growing in non-residential building. Building and construction industry contributed the largest share in global market of plastics and competitive pipe.

Due to its low cost, high durability and compression the use of steel pipe is growing in oil and gas industry. Activities such as drilling and distribution of gas pipeline further increase the demand of steel pipes. Among all material, steel pipes accounted the largest share in global competitive pipe market. Various government projects regarding investment on gas pipeline distribution further boost the market of plastics and competitive pipe.

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In North America, plastics and competitive pipe market is growing due to various government investment over gas exploration and municipal infrastructure in wastewater pipeline distribution. The huge investment on residential and commercial building construction in developing countries of Asia Pacific further boosts the plastics and competitive pipe market.

SOURCE: Persistence Market Research (PMR)