Pipes Market will Reach $209.1 Bn with Companies Offerings And By End-User Segments 2032

Pipes Market Expected to Reach $209.1 Billion by 2032

PORTLAND, OR, UNITED STATES, September 26, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Pipes Market," The pipes market size was valued at $119.5 billion in 2020, and is estimated to reach $209.1 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032. Furthermore, in terms of volume, the global pipes market was valued at 151.7 million tons in 2020, and is projected to reach 248.1 million tons by 2032, registering a CAGR of 3.9% from 2023 to 2032.

The materials commonly used for making pipes are metal, thermoplastic, concrete, and thermoset & composite. The metal pipes segment dominated the market in 2022 in terms of revenue, owing to high adoption rate of metal pipes in industrial and large-scale applications in water & wastewater, and oil & gas sectors. However, the thermoplastic pipes segment is expected to grow with a higher CAGR during the forecast period, owing to rise in demand for specialized pipes for advanced applications.

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The market is mainly driven by rise in residential and commercial buildings that make use of pipes for plumbing, as well as firefighting piping installation. In addition, the rapidly growing industrial sector, which uses large and smaller diameter pipes for transmission of water, oil, gas, slurries, and other fluids, is also a major factor driving the pipes market. Furthermore, the construction of water and other pipelines such as oil and gas pipelines in developed and developing countries also positively affects the industry.

In 2022, Asia-Pacific dominated the pipes market, in terms of revenue, followed by Europe and North America. Moreover, the pipes market in LAMEA is anticipated to grow with a higher CAGR during the forecast period. Growth in construction and industrial sectors in countries, such as China, India, Malaysia, and Indonesia has been an instrumental factor for the large market size in Asia-Pacific.

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Top Players:
Competitive analysis and profiles of the major players in the pipes market are provided in the report. Major companies in the report include ASTRAL LIMITED, Prince Pipes And Fittings Ltd., ArcelorMittal, JM EAGLE, INC., Nippon Steel Corporation, Tata Steel Limited, Tenaris SA., United States Steel Corporation, Sumitomo Corporation, and Nucor Corporation (Nucor Tubular Products).

Key Segments:

By Material
Concrete
Thermoset and composite
Metal
Thermoplastic

By Application
Water and wastewater
Industrial
Oil and gas
Other

By Region
North America (U.S., Canada, Mexico)
Europe (Germany, France, Italy, UK, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

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David Correa
Allied Analytics LLP
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