Corrugated Tube Market Size, Share, Growth, And Industry Analysis By Type (Single Wall Corrugated (SWC), and Double Wall Corrugated (DWC)) By Application (Power Cable Conduit & Telecom Cable Duct, Drainage & Sewerage Lines and Building & Construction), Regional Insights, and Forecast To 2031

Corrugated Tube Market Report Overview

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The global corrugated tube market size is anticipated to be USD 3975.3 million in 2021 and is projected to touch USD 5521.21 million by 2031, at a CAGR of 3.3% during the forecast period. 

A corrugated tube is predominantly made up of plastic or steel and made up of a series of ridges and grooves that run parallel to each other. They are known for durability, flexibility, and strength.  

The construction sector has witnessed a healthy growth over the years and as globalization increases the urgency of the infrastructure has been the need of the hour for all the major countries. The telecommunication industry has been the point of innovation and has been the internet era in recent years. All these factors will leverage the corrugated tube market share in the forecasting years.

 COVID-19 Impact: Disruption in Supply Chain to Boost the Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with the alpha-olefin sulfonate market experiencing lower -than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over. 

COVID-19 and the sudden rise in infections worldwide have made the governments of all regions realise the importance of public hygiene. The waste management and the development of proper drainage systems in hospital and commercial spaces have boosted the corrugated tube market demands. However, in the initial phase of the pandemic, the market was affected due to the issue in the supply chain and the shutdown of manufacturing units. The unavailability of human resources and raw materials further dampens the growth of the product.    

LATEST TRENDS

"Expansion of the Application Base to Boost the Market Demand"

Recent years has witnessed the extensive use of plastic corrugated tube in the medical field. The medical corrugated tube is anticipated to see a healthy surge in market demands. The tubes are used as medical equipment. Besides that, the corrugated tube's key players in the market are focusing on innovations as the primary motive to improve the efficiency of the product. The diverse application would boost the corrugated tube market demand in the upcoming years as the supply increases from various sectors.  

Corrugated Tube Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into single wall corrugated (SWC), and double wall corrugated (DWC). Single-wall corrugated is expected to lead this segment in the forecasted year.

• By Application Analysis

Based on application, the market can be divided into power cable conduit & telecom cable duct, drainage & sewerage lines and building & construction. Power cable conduit & telecom cable duct is anticipated to lead this segment.

DRIVING FACTORS

"Increase in Infrastructure to Accelerate the Product Sale"

The major nations are focusing on restructuring the existing infrastructure and laying the foundation of a well-planned futuristic society. The emerging economies are striving towards improvement and providing a quality of life to the citizens. One of the foremost upgrades in the establishment of a structured city is to ensure a proper drainage system. The surge in construction activities and the increasing number of commercial spaces have influenced the corrugated tube market. The pandemic has ensured the proper waste management system to support quality healthcare and hygienic practices.

The utilization of corrugate tubes has been doubled in the drainage system because of many factors such as the tubes giving a long–lasting performance with minimum abrasion in the inner walls. In addition to these, the corrugated tubes are lightweight and strong which is advantageous in a hassle-free installation even in constrained areas. The flexibility of the corrugated tubes allows them to be used as stormwater drainage as well as subsurface drainage. However, it is predominantly used in the drainage system owing to its durability, high performance and availability of an extensive range of pipe sizes. Furthermore, the decreased cost of installation, a smaller number of skilled people and low operational cost make sit an ideal product to be used in the establishment of drainage and sewage system. The government's efforts to develop the infrastructure are driving the corrugated tube market in the forecasted year.

"Booming Telecommunication Industry to Propel the Corrugated Tube Market Demand"

The era of the internet has intensified the growth of the telecommunication industry. The internet has become a crucial part of everyday life.  The commercial hubs and residential places are permanently installed underground. This requires high voltage power transfer. There was a dearth of energy resources and this sector needed a less complex implementation process. The surge in the usage of electric appliances and the power supply has boosted the electric cable industry.

The double wall corrugated is used as it is resistant against high voltage, durability and sturdiness provide the best solution to electrical and power cables. The penetration of the telecom industry would provide ample opportunity for the corrugated tube market growth.

RESTRAINING FACTORS

"Disruption in Production to Hamper the Market Growth"

The disruption in production during COVID-19 has hampered the corrugated tube market. The disruption in the supply chain has restricted the market supply and demands. Moreover, the fluctuations in the price of the raw materials have affected production. Furthermore, the construction curbs among the major nations during the pandemic times have impeded the corrugated tube market share. 

Corrugated Tube Market Regional Insights

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"Asia Pacific to Dominate the Market due to the Emerging End-User Market"

Asia Pacific has seen unprecedented market demands in the past decades owing to a strong emerging economy. The population expansion has paved a way for a ready-made market. Moreover, the infrastructure restructures in the region and consistent construction activities have amplified the corrugated market size. The presence of the key players and the establishment of manufacturing units has boosted the market size.  The region has anticipated a boom in the telecom industry as government initiatives and public organization has uplifted the lifestyle standard of the people.

KEY INDUSTRY PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP CORRUGATED TUBE COMPANIES

• JM Eagle (U.S.)
• ADS (Senegal)
• Adaptaflex (U.K.)
• Bina Plastic (Malaysia)
• Fränkische (Germany)
• PMA (Switzerland)
• Schlemmer (Germany)
• Flexa (U.S.)
• Murrplastik (U.S.)
• Corma (Canada)
• Pars Ethylene Kish (Africa)
• Teaflex (U.S.)
• Jain Irrigation (India)
• Junxing Pipe (China)
• TIJARIA (India)
• Reiku (Canada)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.