July 27, 2022 07:35 ET |Source: GreyViews GreyViews
Pune India, July 27, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the HDPE Pipes and Fittings market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the HDPE Pipes and Fittings market is present across various countries in the above-mentioned regions. Water Pipe Connector Plastic
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as product, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global HDPE Pipes and Fittings market are Dow Chemical Company, Advanced Drainage Systems, Inc., BLUE DIAMOND INDUSTRIES, LLC, Apollo Pipes, Supreme Pipes, Watts Water Technologies, Inc., Uponor, Quick Fitting Inc., Orbia SAB, and China Lesso Group among others. To achieve a substantial market share in the worldwide HDPE Pipes and Fittings market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Dow Chemical Company is one of the most significant manufacturers and distributors present in the global HDPE Pipes and Fittings market.
HDPE Pipes and Fittings are rapidly being used for replacement of ageing steel mains or concrete pipelines. These pipes are also known as thermoplastics pipes as it is made of thermoplastic polymer HDPE which is highly water resistant. Due to this, such pipes are rapidly being used for different applications including irrigation, water mains, gas mains, drainage system pipelines, slurry transfer lines, and electrical and communication system conduits.
Pipe selection is one of the prominent factor in water infrastructure development. HDPE pipes and fitting is mainly prepared in water infrastructure due to its long-term durability. The features of HDPE pipes including high strength-to-density ratio, chemical stability, and flexibility makes it a perfect option for water infrastructure applications. In addition, these pipes provides cost savings by preventing or decreasing two types of leaks including burst failures and background leakage. Moreover, HDPE pipes offers enhanced reliability when buried and left in operation for decades with considerably lower maintenance. Hence, rising demand across the globe to improve economics of wastewater treatment has boosted growth of the HDPE pipes and fitting market.
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Scope of HDPE Pipes and Fittings Market Report
PE 80 segment is expected to be the fastest growing segment in 2021.
The product segment includes PE 80, PE 100, and Others. PE 80 segment is expected to witness highest growth rate during the forecast period. These type of pipes are heavier and thicker. The rapid usage of such pipes in water, gas, and industrial applications has mainly contributed to growth of this segment. For instance, these pipes are mainly preferred as a gas pipe in natural gas distribution network with pressure rate of about 4 bars and water pipe with pressure rate of about 16 bar.
Oil & gas pipeline segment is expected to be the fastest growing segment in 2021.
The application segment includes agriculture, water network, oil & gas pipeline, sewage/drainage, chemical processing, ducting, and other. Oil & gas pipeline segment is expected to witness highest growth rate during the forecast period. Use of HDPE piping and fittings in oil and gas sector is in its emerging state; however, this application has grown considerably in recent years. This is mainly attributed to ability of HDPE piping to withstand challenging service conditions for an extended period of times. In addition, such pipes and fittings offers non-corrosive, highly durable, and leak-free operation.
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the HDPE Pipes and Fittings include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Asia-Pacific region witnessed a major share. Upsurge in demand for HDPE pipes and fittings from irrigation and water & wastewater sectors in the region. However, North America is expected to witness considerable growth rate during the forecast period. Growth of this region is mainly driven by ongoing municipal and industrial projects along with the rapidly expanding building & construction industry.
Germany HDPE Pipes and Fittings market size was valued at USD 1.82 billion in 2021 and is expected to reach USD 2.76 billion by 2029, at a CAGR of 5.6% from 2022 to 2029. Germany is one of the leading nations in the mechanical engineering, manufacturing, automotive, and electrical industries. In addition, flourishing potable water, oil & gas, wastewater, and irrigation sectors around the globe is boosting growth of HDPE pipes and fittings market. Also, replacement of aging pipelines in the country has further driven growth of the HDPE pipes and fittings market. Moreover, the country is the biggest construction market in Europe. This significance of construction sector in the country has also driven demand for HDPE Pipes and Fittings.
China HDPE Pipes and Fittings market size was valued at USD 3.30 billion in 2021 and is expected to reach USD 4.90 billion by 2029, at a CAGR of 5.3% from 2022 to 2029. Rising disposable income in China has favored demand for HDPE Pipes and Fittings. In addition, this country is both the largest producer and consumer of agricultural products around the globe. This has significantly boosted growth of HDPE Pipes and Fittings sector in the country.
Moreover, according to the National Bureau of Statistics of China, construction sector output accounted for about 25.7% of country’s GDP in 2021. Hence, increasing construction activities in the country is boosting demand for HDPE Pipes and Fittings.
India HDPE Pipes and Fittings market size was valued at USD 0.66 billion in 2021 and is expected to reach USD 1.05 billion by 2029, at a CAGR of 6.2% from 2022 to 2029. India is one of the strongest growing economies in Asia. The factors including expansion of energy generation infrastructure, increasing number of gas pipelines, and growing output capacity of local manufacturers in the country has driven growth of the HDPE Pipes and Fittings market.
In addition, the construction industry in this country contributes more than 5% of nation's GDP. Moreover, the country is observing growth in urbanization at an unprecedented pace. This has led to the increased construction activities in residential and commercial buildings along with infrastructure development, creating a lucrative growth opportunities for the market.
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. The demand for HDPE Pipes and Fittings has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of HDPE Pipes and Fittings were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for HDPE Pipes and Fittings significantly decreased.
Moreover, factors such as delay in delivery, unavailability of resources, and the risks of the health and management of employees has hampered growth of the market during the pandemic.
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