Trends, opportunities and forecast in industrial pipe market to 2023 by end use industry (power generation, petrochemical, automotive, industrial processing plant, and others), material (steel, ductile iron, plastic, fiberglass reinforced (FRP), and others), diameter (small diameter pipes up to 15 inches, medium diameter pipes from 15 to 30 inches, and large diameter pipes of 30 inches and above), and region (North America, Europe, Asia Pacific, and the Rest of the World)
According to a new market report published by Lucintel, the future of the global industrial pipe market looks promising with opportunities in power generation, petrochemical, automotive, and industrial processing. The global industrial pipe market is expected to reach an estimated $21.7 billion by 2023 with a CAGR of 2.5% from 2018 to 2023.
The major growth drivers for this market are increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.
Browse 109 market data tables and 158 figures spread through 245 pages and in-depth TOC on “Global Industrial Pipe Market"
In this market, steel, ductile iron, plastic, and fiberglass reinforced plastics (FRP) materials are used for pipe manufacturing for various end use industries.
On the basis of comprehensive research, Lucintel forecasts that the steel pipe is expected to remain the largest material segment over the forecast period due to increasing demand for steel pipes in power generation and petrochemical industries. Lucintel predicts that the plastic pipe material segment will witness the highest growth during the forecast period because of low cost, light weight and corrosion resistant.
Within the global industrial pipe market, petrochemical will remain the largest end use industry during the forecast period due to increasing investments in new ventures and up-gradation of petrochemical facilities.
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Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing infrastructure development, urbanization and government economic stimulus measures in this region.
Emerging trends which have a direct impact on the dynamics of the industry include increasing use of dopeless technology in pipe manufacturing to reduce operational risk and development of multilayer pipe to increase strength and durability. Vallourec, TMK, Tenaris, China Lesso, ArcelorMittal, Mexichem, Sekisui Chemicals, Advanced Drainage System, Amiantit, and Future Pipe are among the major suppliers of industrial pipes.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global industrial pipe market by end use industry, material, diameter, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Industrial 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. The study includes a forecast for the global industrial pipe market by end use industry, material, diameter, and region, as follows:
By End Use Industry [Value ($M) from 2012 to 2023]:
- Power Generation
- Industrial Processing
By Material [Value ($ Million) and Volume (Thousand Tons) from 2012 to 2023]:
- Steel Pipes
- Ductile Iron Pipes
- Plastic Pipes
- FRP Pipes
- Other Pipes
By Diameter [Value ($ Million) from 2012 to 2023]:
- Small Diameter Pipes
- Medium Diameter Pipes
- Large Diameter Pipes
By Region [Value ($ Million) from 2012 to 2023]:
- North America
- United Kingdom
- Middle East
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