Growth Opportunities in global plastic pipe market until end of decade

The future of the plastic pipe market looks good with opportunities in the potable water, wastewater supply, electrical and telecommunication, agriculture, chemical, and oil and gas sectors. The global plastic pipe market is forecast to grow at a CAGR of 6.8% from 2015 to 2020, according to a new market report published by Lucintel. The major growth drivers for this market are infrastructure development, rise in construction activities, replacement of aging pipelines made of traditional materials, growing population, and growing urbanization rate. In this market, polyvinyl chloride, polyethylene, polypropylene, and other resins are used to manufacture plastic pipes. Lucintel predicts that the demand for PE (polyethylene) plastic pipes will experience the highest growth in the forecast period, supported by growing demand in the chemical sector and sewage applications. On the basis of its comprehensive research, it is forecast that the wastewater supply, agriculture, and chemical sectors are expected to show above average growth during the forecast period. Within the plastic pipe market, potable water supply is expected to remain the largest market after wastewater supply applications. The growth of residential and commercial construction and the boom in infrastructure development are expected to spur growth for this segment over the forecast period. Asia Pacific is expected to remain the largest market due to the growth in the construction and industrial sectors. Asia Pacific and North America are expected to grow significantly by virtue of growing drainage, sewage, storm, and other wastewater supply applications, especially in China and India, due to increasing urban population and high growth in construction and infrastructure development. The growth rate of the North American plastic pipe market is driven by the growth in residential construction and replacement of traditional and aging pipelines with plastic pipes. For market expansion, the report suggests new product development, where the unique characteristics of plastic pipes can be capitalized. Emerging trends, which have a direct impact on the dynamics of the industry, are the usage of anti-microbial plastic pipes to improve hygiene and replacement of traditional material pipes with eco-friendly ABS and PE plastic pipes. Mexichem SAB de CV, China LESSO Group Holdings Limited, Sekisui Chemical Co., Ltd, Formosa Plastics Group, and Advanced Drainage Systems Inc. are among the major manufacturers of plastic pipes.