The Plastic Pipe Market is Predict to reach USD 86.9 Billion by 2031, at a CAGR of 6.5%

17-Apr-2024 | Report Format: Electronic (PDF)

Plastic Pipe Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Plastic Pipe Market size is expected to reach $86.9 billion by 2031, rising at a market growth of 6.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 43,602.60 kilo tonnes, experiencing a growth of 11.4% (2020-2023).

Plastic Pipe Market Size - By Region

The Water Supply segment is registering a CAGR of 5.6 % during the forecast period. Plastic pipes have a smooth interior surface that minimizes friction losses and prevents the buildup of scale, sediment, or biofilm. This smooth bore enhances hydraulic performance, reduces energy consumption, and maintains consistent water flow rates in the distribution network.

The Building & Construction segment is generating the maximum revenue in the Global Plastic Pipe Market by End-use in 2023; thereby, achieving a market value of $34.5 billion by 2031. Plastic pipes offer versatility in meeting the diverse needs of building and construction projects. They are available in various sizes and configurations to accommodate plumbing, drainage, HVAC systems, and electrical conduit networks. Also, their flexibility and elasticity allow them to withstand ground movement and building vibrations without rupturing or collapsing, ensuring the integrity and functionality of building systems during seismic events.

The Polyvinyl Chloride segment is growing at a CAGR of 5.9 % during the forecast period. PVC pipes are known for their durability and long service life. They resist corrosion, chemical degradation, and biological growth, ensuring reliable performance even in harsh environments. PVC pipes are appropriate for above ground and underground installations because they can tolerate high temperatures, pressure changes, and external forces.

Full Report: https://www.kbvresearch.com/plastic-pipe-market/

The Asia Pacific region dominated the Global Plastic Pipe Market by Region in 2023; thereby, achieving a market value of $39.8 billion by 2031. The North America market is anticipated to grow at a CAGR of 6% during (2024 - 2031). Additionally, The Europe market would witness a CAGR of 6.2% during (2024 - 2031).