Polyolefin Pipe Market is Expected to Soar to US$ 39.5 Billion by 2034, with a Steady CAGR of 5.9% from 2024 | Future Market Insights, Inc.
The increasing adoption of polyolefin pipes by farmers for irrigation systems, alongside their use in urban cable safety, is driving market growth. In South Korea, governmental focus on water preservation and availability in remote areas is boosting demand, particularly in wastewater treatment projects where polyolefin pipes play a crucial role. This dual demand from agricultural and infrastructure sectors is propelling the market's expansion.
NEWARK, Del, March 21, 2024 (GLOBE NEWSWIRE) -- The polyolefin pipe market is estimated to be valued at *US$ 22.3 billion* in 2024. The market is anticipated to progress at a *CAGR of 5.9%* from 2024 to 2034. The valuation of the market is forecasted to reach *US$ 39.5 billion* by 2034.With governments focusing on providing water for all, there has been a widespread increase in piping systems. These piping systems are making use of polyolefin pipes for their lightweight but still tough nature. Thus, the polyolefin pipe market is making excursions into remote areas.
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Farmers are making use of polyolefin pipes at an increasing rate, with the pipes finding a prominent place in sprinkler and drip systems. The rise of agricultural activities is thus propelling the market. On the other hand, the pipes are also integral to the working of the urban space, providing safety to the cables that connect the modern world.
The environmentally-conscious crowd has made the sale of products that prominently use plastic more difficult. Polyolefin pipes are no exception, as regulatory authorities have imposed measures on the sale of products made from plastic. Another restraint for the market is the tough environmental conditions that have the potential to disrupt the working of the pipes, even with their solid structure.
*“With a focus on sustainability and energy-saving, natural gas use is proliferating. The enhanced demand for equipment that helps in the distribution of natural gas and polyolefin pipes is propelling the market forward,” **- *Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
*Key Takeaways from the Polyolefin Pipe Market Report *
· The polyolefin pipe market is expected to be valued at US$ 22.3 billion in 2024.
· Polypropylene pipes (PP) are the top type of pipes in the market. Sales of polypropylene pipes (PP) are expected to progress at a rate of 5.7% over the forecast period.
· Polyolefin pipes are most commonly used for power and communication. Over the forecast period, the power and communication segment by application is predicted to progress at a CAGR of 5.5%
· South Korea is expected to be a promising country in terms of progress in the market. The country is forecasted to have a CAGR of 7.9% from 2024 to 2034.
· The market in Japan is predicted to rise at a 6.2% CAGR over the forecast period.
· The market in the United Kingdom is expected to progress at a CAGR of 7.0% through 2034.
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*Competition Analysis of the Polyolefin Pipe Market *
Product differentiation is a key concern for the market players. On the collaborative front, companies are establishing partnerships with companies in end-user industries.
*Key Companies*
1. FURUKAWA ELECTRIC CO., LTD
2. Halcor
3. Mueller Streamline Co.
4. Aurubis AG
5. Cerro Flow Products LLC
6. Cambridge-Lee Industries LLC
7. H & H Tube
8. Hailiang Group Reserves
9. KMCT
10. MM Kembla
*Recent Developments in the Polyolefin Pipe Market *
· In March 2021, Prinsco Inc. and Momentum Engineering established a partnership.
· In January 2021, FGS Brazil Industries was taken over by GF Piping Systems.
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*Key Segments*
*By Type:*
· Polypropylene Pipes (PP)
· Polyethylene Pipes (PE)
· Plastomer*By Application:*
· Power And Communication
· Waste Water Drainage
· Irrigation
· Others
*By End User:*
· Agriculture
· Industrial
· Others*By Region:*
· North America
· Latin America
· Europe
· South Asia
· East Asia
· Oceania
· Middle East and Africa (MEA)*Authored by:*
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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