HDPE Pipes Market Anticipated to Grow at an Impressive Rate during the Forecast Period
Portland, OR -- (SBWIRE) -- 05/07/2019 -- The global high-density polyethylene pipe (HDPE) market is valued at $ 17,907 million in 2017 and is expected to grow at a CAGR of 5% between 2018 and 2025, to $ 26,518 million by 2025.
High-density polyethylene pipes are made from graded materials such as PE 63, PE 80 and PE 100 and are considered one of the best media for transporting and transporting chemicals, water and gases. One of the main advantages of using HDPE pipes is that they are 6 to 8 times lighter than conventional cast iron and galvanized iron pipes. It is also suitable for water transportation because it is inherently non-corrosive.
The market for HDPE pipe is expected to witness substantial growth due to the increase in application of HDPE pipes in various end-use industries. The rise in demand from water irrigation systems in agricultural industry drives the growth of the HDPE pipe market. Rapid urbanization leads to increase in demand for water supply, which in turn increases the requirement of HDPE pipes. This in turn contributes toward the growth of the global HDPE pipe market. Furthermore, growing sewage disposal infrastructure will increase the demand for HDPE pipes. However, fluctuating prices of raw material due to volatility in crude oil are expected to hamper the market growth. Conversely, innovation and advancement in PE pipes are the factors anticipated to provide growth opportunities to the HDPE pipes market.
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The key players profiled in the report include JM Eagle Inc., WL Plastics, Lane Enterprises, Inc., Prinsco, Inc., Uponor, Poly plastic group, Mexichem S.A.B. de C.V, United Poly systems, Radius system, and Blue Diamond Industries, LLC. These market players are adopting different strategies such as acquisition, product launch, and merger to stay competitive in the global HDPE pipes market. The other key players of the industry include Canada Culvert, Inc. (WGI Westman Group, Inc.), Dura-Line Corp., IPEX Inc., Reliance Industries Limited, and Kanaflex Corporation Co., Ltd.
The global HDPE pipes market is segmented into type, application, and region. Based on type, the global HDPE pipes market is divided into PE 63, PE 80, and PE 100. The PE 63 segment is projected to be the most lucrative segment during the forecast owing to increase in use of PE 63 pipes in water transportation, agriculture, and drinking water applications.
Based on application, the market is segmented into oil & gas pipe, agricultural irrigation pipe, water supply pipe, sewage system pipe, and others. The water supply pipe segment is estimated to grow at the highest CAGR during the forecast period. The growth of the segment is attributed to rise in demand for water infrastructure due to growing population.
Based on region, the global HDPE pipes market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is anticipated to witness high growth rate during the forecast period owing to the increase in investment in the polyethylene industry.
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Key Finding of the HDPE Pipes Market:
- The PE 100 segment nearly occupied three-fourth share of the global HDPE pipes market in 2017.
- The PE 63 segment is projected to grow at the highest CAGR during the forecast period.
- The water supply pipe application nearly occupied one-seventh share in 2017.
- North America accounted for one-fifth share of the global market in 2017.
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