HDPE Pipes Market to Reach $35.4 Billion, Globally, by 2032 at 5.1% CAGR: Allied Market Research

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19 Jul, 2023, 10:03 ET

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The construction and development of infrastructure, such as water supply networks, wastewater treatment systems, and transportation infrastructure drive the demand for HDPE pipes, thereby driving the growth of the market

PORTLAND, Ore., July 19, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "HDPE pipes Market By type, application, and region. On the basis of type, the market is categorized into HDPE 63, HDPE 83, and HDPE 100. On the basis of application, it is divided into oil & gas pipe, agriculture irrigation pipe, water supply, sewerage system pipe, and others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the HDPE pipes market valued for $21.7 billion in 2022 and is estimated to reach $35.4 billion by 2032, exhibiting a CAGR of 5.1% from 2023 to 2032.

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Prime determinants of growth

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.

Report Coverage & Details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$21.7 billion

Market Size in 2032

$35.4 billion

CAGR

5.1 %

No. of Pages in Report

401

Segments covered

Type, application, and region

Drivers

Robust demand for water supply

Increase in the demand from agriculture industry

Opportunities

Development of construction and infrastructure industries

Restraints

Temperature limitation and maintenance is expected to hinder the market growth

HDPE 100 based HDPE pipes to maintain its lead position during the forecast period

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.

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The sewage system pipe industry maintained its lead position 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.

Asia-Pacific to maintain its dominance by 2032

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.

Leading Market Players: -

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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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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SOURCE Allied Market Research