Global plastic pipe market is expected to reach $87 billion by 2023

DALLAS, Oct. 17, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the global plastic pipe market looks promising with opportunities in water and wastewater, agriculture, chemical, and electrical & telecommunication cable protection. The global plastic pipe market is expected to reach an estimated $87 billion by 2023 and is forecast to grow at a CAGR of 6.2% from 2018 to 2023. The major growth drivers for this market are growing residential and non-residential construction activities, replacement of aging pipelines, and increasing awareness of the attractive properties of plastic pipes.

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In this market, PVC pipes, PE pipes, PP pipes, and others are used for plastic pipe manufacturing for polymer/plastic type. On the basis of comprehensive research, Lucintel forecasts that PE pipes are expected to witness significant growth over the forecast period because of their heat resistance, low cost, durability, minimal maintenance requirements, and superior energy efficiency.

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APAC is expected to remain the largest market and witness the highest growth rate over the forecast period due to the increasing urbanization, infrastructure development, and the continuous growth of the residential construction and industrial sectors.

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Emerging trends, which have a direct impact on the dynamics of the plastic pipe industry, include the usage of anti-microbial plastic pipes to improve hygiene, replacement of traditional material pipes with eco-friendly ABS (Acrylonitrile Butadiene Styrene) and PE plastic pipes, and increasing consumption of multilayer plastic pipes in gas distribution. Mexichem SAB, China Lesso Group, Sekisui Chemical, Formosa Plastics Group, and Advanced Drainage Systems and others are among the major suppliers of plastic pipe.

Lucintel, a leading global market research firm has analyzed growth opportunities in the global plastic pipe market by polymer/plastic type, diameter, application, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global plastic pipe Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions.For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.