June 21, 2023 13:19 ET | Source: ReportLinker ReportLinker
New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plastic Pipes And Pipe Fittings Global Market Report 2023" - https://www.reportlinker.com/p06464041/?utm_source=GNW P. Law Inc., Interstate Pipe & Supply Co., Continental Steel & Tube Co., Compressed Air Systems Inc., and Emco Industrial Plastics LLC. The global plastic pipes and pipe fitting market is expected to grow from $72.52 billion in 2022 to $80.16 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The plastic pipes and pipe fitting market is expected to reach $115.23 billion in 2027 at a CAGR of 9.5%. The plastic pipes and pipe fittings market consists of sales of acrylic pipes, and polycarbonate tubes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Plastic pipes and pipe fittings are components made of plastic materials used for transporting fluids and controlling their flow in plumbing, heating, and industrial applications. They are light in weight, tough, and resistant to corrosion. Asia-Pacific was the largest region in the plastic pipes and pipe fitting market in 2022.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic pipes and pipe fitting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main types of plastic pipes and pipe fittings are polyvinyl chloride (PVC) pipes, polyethylene (PE) pipes, polypropylene (PP) pipes, and others.Polyvinyl chloride (PVC) pipes refer to a type of plastic pipe commonly used in plumbing and other applications. These are fitted in organized and unorganized structures for various applications including residential fitting, water supply, sewage systems, oil and gas, heating, ventilation and air-conditioning systems (HVAC), manufacturing, agricultural applications, and others. The increased construction demand for housing facilities is expected to propel the growth of the plastic pipes and pipe fitting market.Construction is the process of building physical structures or infrastructure using tools, materials, and techniques to meet certain specifications or requirements. Plastic pipes and pipe fittings are used in construction for plumbing, drainage, and HVAC (heating, ventilation, and air conditioning) systems in houses due to their durability, ease of installation, and cost-effectiveness compared to traditional metal alternatives. For instance, according to data by the Office for National Statistics, a UK-based independent producer of official statistics and the recognized national statistical institute, construction output increased by 1.7% in volume terms in March 2022 in comparison with February data in the UK. The rise in repair and maintenance (3.0%) and new work (1.0%) activity drove the increase in monthly construction production in March 2022. Therefore, the increased construction demand for housing facilities is driving the growth of the plastic pipes and pipe fitting market. Product innovation is a key trend gaining popularity in the plastic pipes and pipe fitting market.Major companies operating in the plastic pipes and pipe fitting market are developing innovative products to sustain their position in the market. For instance, in November 2021, GF Piping Systems, a Switzerland-based piping company, introduced bio-attributed materials to all of its market-leading polyvinyl chloride (PVC-U) metric pressure pipes, fittings, and valves produced in Europe. The sustainable PVC resin, made using tall oil, a waste product from paper production will see up to 90% reduction in the CO2 emission during production versus conventional PVC while still maintaining the highest quality, durability, and recyclability. In September 2022, Wavin B.V., a Netherlands-based PVC pipe and fittings manufacturing company acquired Bow Plumbing Group Inc. for an undisclosed amount. With this acquisition Wavin expands its product portfolio, and Bow’s reputation for excellence in plastic pipes and fittings will complement Wavin’s full spectrum of offerings for drinking water, wastewater and rainwater management. Bow Plumbing Group is a Canada-based manufacturer of plastic pipe and fittings for the residential and commercial purposes. The countries covered in the plastic pipes and pipe fitting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The plastic pipes and pipe fittings market research report is one of a series of new reports that provides plastic pipes and pipe fittings market statistics, including plastic pipes and pipe fittings industry global market size, regional shares, competitors with a plastic pipes and pipe fittings market share, detailed plastic pipes and pipe fittings market segments, market trends, and opportunities, and any further data you may need to thrive in the plastic pipes and pipe fittings industry. This plastic pipes and pipe fittings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. Read the full report: https://www.reportlinker.com/p06464041/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Gas Block
