HDPE pipes offer excellent chemical resistance, ensuring the safe & efficient conveyance of sludge. Water supply pipe is set to register 5.7% CAGR by 2032.
WILMINGTON, DELAWARE, UNITED STATES, February 13, 2024 /EINPresswire.com/ — As per the new research report by Allied Market Research, Global HDPE pipes market size was valued at $21.7 billion in 2022 and is anticipated to reach $35.4 billion by 2032, exhibiting a CAGR of 5.1% from 2023 to 2032. The surge in application of HDPE pipes in various end use industries, the market for HDPE pipe is expected to witness substantial growth. The rise in demand from water irrigation systems in agricultural industry is expected to drive the growth of the HDPE pipe market. Rapid urbanization is anticipated to increase the demand for water supply, leading to an increase in the requirement of HDPE pipes. However, volatile raw material prices attributed to fluctuation in prices of crude oil are expected to hamper the market growth. This factor hinders the growth of the HDPE pipes market.
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Based on type, the HDPE 100 segment accounted for the largest share in 2022, contributing to more than three-fourths of the global HDPE pipes market revenue. Many countries are facing the challenge of aging infrastructure systems, including water and gas pipelines. HDPE 100 pipes are often chosen as a replacement for deteriorating infrastructure due to their long service life, durability, and resistance to corrosion. As a result, the replacement and rehabilitation of aging infrastructure contributes to the surge in demand for HDPE 100 pipes. This factor is expected to enhance market growth during the forecast period. HDPE 63 is projected to register the fastest CAGR of 5.4% during the forecast period.
Based on application, the sewage system pipe accounted for the largest share in 2022, contributing to nearly half of the global HDPE pipes market revenue. There is a growing awareness of the environmental impact of untreated or poorly treated sewage water. Governments and regulatory bodies implement stricter regulations and standards to protect water bodies, ecosystems, and public health. The need to comply with these regulations drives the demand for HDPE pies. It is mainly used to transport sludge from different treatment units, such as settling tanks, clarifiers, and digesters, to the sludge treatment or disposal facilities. HDPE pipes offer excellent chemical resistance, ensuring the safe and efficient conveyance of sludge. Water supply pipe is projected to register the fastest CAGR of 5.7% during the forecast period.
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Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global HDPE pipes market and is projected to register the highest CAGR of 5.8% during the forecast period. The Asia-Pacific HDPE pipes market is anticipated to expand during the forecast period. India, China, and Japan are anticipated to contribute to the Asia-Pacific HDPE pipes market.
The rapid urbanization in China has led to increased demand for housing, commercial buildings, and infrastructure. HDPE pipes are used in construction projects for water supply, drainage, and gas distribution. Furthermore, India has witnessed significant industrial growth, particularly in sectors such as manufacturing, chemicals, and pharmaceuticals. HDPE pipes are used in industrial applications for fluid transportation, process pipelines, and wastewater management. These factors are driving the potential sales of HDPE pipes market in the Asia-Pacific region.
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Leading Market Players: –
LANE ENTERPRISES, INC
JM EAGLE, INC.
BLUE DIAMOND INDUSTRIES
VECTUS
POLY PLASTIC GROUP
WL PLASTICS
PRINSCO, INC.
SCG CHEMICALS PUBLIC COMPANY LIMITED
UNITED POLY SYSTEMS
RADIUS SYSTEM
The report provides a detailed analysis of these key players in the global HDPE pipes market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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