May 18, 2022 07:46 ET | Source: Market Research Future Market Research Future
New York, New York, UNITED STATES
New York, US, May 18, 2022 (GLOBE NEWSWIRE) -- Water and Wastewater Pipe Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Water and Wastewater Pipe Market Information by Material Type, Application, and Region - Forecast till 2030”, the market is estimated to grow at a CAGR of 6.5% CAGR to reach USD 46457.7 Million by 2030.
Piping is one of the most critical aspects of water and wastewater treatment systems. Piping helps in carrying water and wastewater from one point to another. PVC pipes are the most extensively used pipe materials.
Demand for non-metallic piping materials, especially high-density polyethylene (HDPE) and polyvinyl chloride (PVC) is increasing among the utilities as well as the engineering companies. Other than cost savings, part of this high demand is related to the developments in the materials, 100-year life expectancy, along with the advantages pertaining to the installation processes.
The affluent firms in the water and wastewater pipe market are:
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In April 2022, GF Piping Systems introduced HEAT-FIT, which is a corrosion-free, efficient and lightweight thermoplastic piping system. HEAT-FIT has numerous industrial applications and can be used in water and wastewater treatment. The pipe jacket system comprises two primary layers of thermoplastic polyurethane that encloses a high-temperature fiberglass fabric as well as an intumescent coating.
The water and wastewater pipes market benefits from the booming sales of numerous real-time devices including pressure measurement pumps and meters. The success of governments and administrative authorities is most defined by how well they ensure a proper supply of clean, potable water to the commercial and household units. Additionally, water consumption within the industrial sector raises the need for proper pipelines. Henceforth, the key need of every sector is suggestive of the requirement for better water and wastewater pipes. The rising availability of higher quality materials to manufacture pipes aid in the market growth.
Governments, as well as municipal bodies, are giving efforts to enhance sanitation and drainage across commercial, industrial and residential units. Numerous regional authorities are approving high-investment projects that aim to develop an extensive network of underground pipes for water supply. These networks also contain separate pipes for wastewater disposal to the premises. The huge spending by the government authorities will favor the global water and wastewater pipes market. Besides, the surging deployment of sensor technologies in pipe networks will provide further thrust to business growth.
The market is facing a number of challenges including volatile prices and uneven supply of chief raw materials. In addition, significant investments needed to establish a pipe production plant and a wastewater treatment unit can be challenging for the companies.
The coronavirus pandemic has brought on an unprecedented drop in the sales of water and wastewater pipes, in line with the declining plastic sector revenues. The prices for a variety of plastics have reduced in the past couple of years, which will be highly unfavorable for the water and wastewater pipe industry.
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The COVID-19 outbreak presented a series of issues for the water and wastewater pipe market. The pandemic brought along various challenges associated with urban densification, including a shortage of safe drinking water as well as sanitation.
Furthermore, industry participants are facing issues ranging from getting major raw materials to delivering efficient end products. The market has witnessed volatile pricing, unexpected outages, and disrupted demand and supply ratio. However, the worldwide market is touted to remain resilient as the lockdown measures are now more relaxed.
The material type segment can be divided into metal pipe, plastic pine, clay pipe, and concrete pipe. Between these, the leading spot has been procured by the plastic pipe segment owing to this material type’s flexibility, lightweight, versatility, and durability. The segment was worth USD 48,810.8 million in 2018 and will soar to USD 72,848.1 million by 2027. Meanwhile, the metal segment can expect to clock a 6.91% CAGR over the appraisal period.
The application segment has been considered for industrial, municipal, agricultural, construction, and more. Out of these, the municipal segment occupies the maximum share in the worldwide market. In 2018, the municipal segment reached USD 48,586.2 million and will touch USD 72,112.0 million by 2027. The municipal segment can also achieve a growth rate of 6.81% over the forecast period.
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APAC has a colossal share in the global market for water and wastewater pipe, given the region’s emphasis on infrastructure development, and improving economic conditions. The rapid expansion rate of the construction industry in the region has resulted in exponential market growth. Besides this, the surging industrialization and urbanization rates work in favor of the water and wastewater pipe market in the region.
North America comes in second in the worldwide market, on account of the extensive awareness levels and the vast demand for clean water. The rapid surge in the number of renovation and construction activities and the strong base of notable players that offer high-quality solutions drive the revenue share as well. The early adoption of innovative waste management solutions, especially in the United States and Canada, enhances the water and wastewater pipe market share.
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