Global Pipe Market Report and Forecast 2024-2032

Global Pipe Market Size

The global pipe market reached approximately USD 137.50 billion in 2023. The market is projected to grow at a CAGR of 4.8% between 2024 and 2032, reaching a value of around USD 208.78 billion by 2032.

Global Pipe Market Outlook

• The global pipe production saw a 15% rise in 2023 as opposed to 2022, reaching approximately 170 million tons, as indicated by the figures from the International Pipe Producers Association (ITA).

• It is estimated that India needs to invest USD 840 billion in the next 15 years in urban infrastructure to meet demands of its rapidly growing population.

• Tubos Reunidos, a Spanish tube supplier, aims to be the first seamless pipe producer in the world to operate with zero CO2 emissions. The company will begin producing the O-Next pipe in the final quarter of 2024 with an initial capacity of 2,000 tonnes.

Global Pipe Market Growth

Rapid urbanisation in developing regions is driving an increase in residential and commercial construction activities, leading to a higher demand for pipes in plumbing, heating, and cooling systems. The global construction and engineering market is projected to exceed US$4.2 trillion in growth over the next 15 years, increasing from US$9.7 trillion in 2022 to US$13.9 trillion by 2037. By that time, China, the US, and India are expected to contribute to half of all construction work globally, highlighting their significant role in the economic development of these countries, which collectively represent more than a third of the world's population and economic productivity. The development of large-scale infrastructure, such as roads, bridges, and public buildings, is expected to boost the use of various types of pipes for water supply, sewage, and drainage systems.

Piping systems are essential for agricultural irrigation, enabling the efficient distribution of water to crops. The Indian plastic pipe sector demonstrates strong and resilient growth, largely influenced by a thriving agricultural sector and widely utilised in irrigation applications. Plastic pipes are widely used in irrigation, residential/commercial real estate construction, and WSS infra development. The demand for pipes in irrigation and WSS sectors, as well as the replacement of metal pipes in residential real estate, drive this growth. Pipes are cost-effective for water transportation and are anticipated to be essential for infra-development.

The adoption of environmentally conscious building standards and certifications such as the LEED (Leadership in Energy and Environmental Design) certification supports the utilisation of sustainable pipe materials, including recycled plastics and composites. In addition to promoting low-carbon emission green buildings, such certifications also guarantee that the buildings offer healthy and cost-effective spaces, leading to an increased demand for sustainable pipe materials.

Global Pipe Industry Segmentation

“Global Pipe Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Material Type

• Plastic
  • PVC
  • CPVC
  • HDPE
  • LDPE
  • ABS
  • PP
  • Fibreglass
• Metal

• Composite

Market Breakup by Diameter

• Up To 50 mm

• 50 – 100 mm

• 100 – 200 mm

• 200 – 400 mm

• Above 400 mm

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Pipe Market Share

Based on material type, the market is segmented into plastic, metal, and composite. The composite segment is projected to grow at a CAGR of 5.3% during the forecast period of 2024-2032. Composite pipes provide numerous advantages over conventional metal or plastic pipes. They exhibit exceptional resistance to corrosion caused by chemicals, moisture, and external elements. These benefits render them a desirable choice across a range of sectors such as aerospace, defence, oil and gas, chemical processing, water treatment, and construction.

Leading Companies in the Global Pipe Market

Major players are focusing on the application of sustainable materials in production methods to gain a competitive edge in the market.

• Aliaxis Group S.A./N.V.

• Sekisui Chemical Co. Ltd.

• Orbia Advance Corporation SAB de CV

• Astral Ltd.

• Geberit AG

• Finolex Industries Ltd.

• Formosa Plastics Corp.

• Nan Ya Plastics Corp.

• Genuit Group Plc

• Advanced Drainage Systems Inc.

• Others

Key Highlights of the Report