Plastic Hot & Cold Pipe Market to Grow with a CAGR of 5.60% through 2028
Increasing
demand for plastic pipes in the construction industry and technological
advancements in the manufacturing of plastic pipes are likely to drive the market
in the forecast period.
According to
TechSci Research report, “Plastic Hot & Cold Pipe Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Plastic Hot & Cold Pipe Market stood at USD 7.08 billion in 2022
and is anticipated to grow with a CAGR of 5.60% in the forecast period.
One
of the primary drivers fueling the growth of the global Plastic Hot & Cold
Pipe market is the ongoing process of urbanization and infrastructure
development across the world. As urban populations continue to surge, there's
an escalating demand for modern plumbing systems, including hot and cold water
distribution networks. Urbanization entails the construction of residential,
commercial, and industrial buildings, all of which necessitate efficient
plumbing solutions. Plastic pipes have gained prominence in urban construction
due to their flexibility, ease of installation, and resistance to corrosion.
Moreover, in many emerging economies, especially in Asia and Africa, rapid
urbanization is driving the construction of housing and commercial spaces, all of
which rely heavily on plastic hot and cold water pipes for their plumbing
systems. Even in developed nations, aging infrastructure necessitates
replacements and upgrades, offering a consistent market for plastic pipes. In
this context, the Plastic Hot & Cold Pipe market benefits from the global
trend towards urbanization and the resulting infrastructure development.
The
global emphasis on sustainable building practices and heightened environmental
concerns serve as another significant driver of the Plastic Hot & Cold Pipe
market. There is an increasing recognition of the importance of reducing the
carbon footprint in construction, which includes the choice of materials for
plumbing systems. Plastic pipes, particularly those made from recyclable
materials, align with these sustainability goals. They are lightweight,
durable, and possess a lower carbon footprint compared to traditional materials
such as copper or iron. Additionally, plastic pipes are resistant to corrosion
and offer a longer lifespan, which reduces the need for frequent replacements
and repairs, thereby minimizing resource consumption and waste generation. As
governments and organizations globally push for eco-friendly construction, the
demand for plastic hot and cold pipes, known for their sustainability
attributes, continues to rise. These pipes are favored choices for builders and
contractors aiming to align with green building certifications and
energy-efficient construction projects. The ongoing shift towards sustainable
building practices and heightened environmental consciousness plays a crucial
role in driving the growth of the Plastic Hot & Cold Pipe market.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on
"Global Plastic Hot & Cold Pipe Market.”
The Global Plastic
Hot & Cold Pipe Market is segmented into raw material, application, end
user and region.
Based on application,
The Water Plumbing Pipes segment
had the largest market share in 2022 & expected to maintain it in the
forecast period. Plastic pipes, especially variants like PVC and PEX, are
significantly more cost-effective than traditional materials like copper or
steel. This cost advantage makes them an attractive choice for plumbing
projects, whether in residential, commercial, or industrial settings. Builders
and contractors are keen to reduce construction expenses, and plastic pipes
offer a cost-efficient solution. Plastic hot and cold water plumbing pipes are
known for their ease of installation. They are lightweight, flexible, and
require fewer connections, reducing installation time and labor costs. This
efficiency is especially valuable in large construction projects where time and
labor savings translate into substantial benefits. Plastic pipes do not
corrode, unlike metal pipes. This corrosion resistance ensures the longevity of
the plumbing system, reducing the need for frequent maintenance and
replacements. This is particularly appealing in regions with aggressive water
conditions. Plastic pipes can be used for a wide range of plumbing
applications, from potable water distribution to heating and cooling systems.
Their versatility and adaptability to different conditions make them a
preferred choice for various building types and purposes. Plastic pipes are
excellent insulators, helping to maintain water temperature, whether hot or
cold. This energy-efficient characteristic aligns with the growing emphasis on
sustainability and reduced energy consumption in construction.
Based on raw
material, The Cross-Linked
Polyethylene segment had the largest market share in 2022 and is projected to
experience rapid growth during the forecast period. PEX pipes are renowned for their exceptional
durability and longevity. They are highly resistant to corrosion, scaling, and
pitting, which are common issues with metal pipes. This durability ensures that
PEX pipes have a longer service life, reducing the need for replacements and
maintenance. PEX pipes are incredibly flexible, which simplifies the
installation process. They can bend and curve to navigate obstacles and tight
spaces without the need for as many joints and connectors as traditional rigid
pipes. This flexibility saves time and labor costs during installation. PEX pipes have excellent freeze resistance.
They can expand and contract without cracking when exposed to freezing
temperatures. This property makes PEX pipes particularly suitable for cold
water applications and regions with harsh winters. PEX pipes are excellent
insulators, helping to maintain water temperature in both hot and cold water
applications. This energy-efficient characteristic reduces heat loss in hot
water distribution systems and prevents cold water from warming up as it
travels through the pipes, ultimately contributing to energy savings. PEX pipes
exhibit a unique flexibility that absorbs water hammer noise, the sudden
pressure surge that occurs when water flow is abruptly halted. This property
results in quieter plumbing systems, enhancing overall user experience.
Major companies
operating in the Global Plastic Hot & Cold Pipe Market are:
- Georg Fischer
Ltd
- Wienerberger
AG
- Aliaxis Group
SA
- Uponor Oyj
- Genuit Group
- Chevron
Phillips Chemical Company LLC
- Wavin
- Supreme
Industries Ltd.
- Astral Limited
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“The Global Plastic
Hot & Cold Pipe market is expected to rise in the upcoming years and
register a significant CAGR during the forecast period. The construction industry is the largest
consumer of plastic hot & cold pipes. The increasing demand for new homes
and infrastructure projects is expected to drive the demand for plastic pipes
in the coming years. The water treatment industry is another major consumer of
plastic hot & cold pipes. The increasing demand for water treatment
solutions to improve water quality is expected to drive the demand for plastic
pipes in this industry. Additionally, The irrigation industry is also a major
consumer of plastic hot & cold pipes. The increasing demand for irrigation
to meet the growing demand for food is expected to drive the demand for plastic
pipes in this industry. Also, There are a number of technological advancements
that are taking place in the plastic hot & cold pipe industry. These
advancements are expected to improve the performance and durability of plastic
pipes, which will further drive the demand for these pipes in the coming years.Therefore,
the market of Plastic Hot & Cold Pipe is expected to boost in the upcoming
years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Plastic Hot & Cold Pipe Market By
Application (Radiator Connection Pipes, Water Plumbing Pipes, and Underfloor
Surface Heating & Cooling), By Raw Material (Polyethylene - Raised
Temperatures (PE-RT), Polybutylene (PB), Polypropylene Random Copolymer (PPR),
Cross-Linked Polyethylene (PEX), and Chlorinated Polyvinyl Chloride (C-PVC)),
By End-User (Commercial, Residential, and Industrial), By
Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Plastic Hot & Cold Pipe
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Plastic Hot & Cold
Pipe Market.
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