PEX Pipe Market Report Overview
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The global PEX pipe market size was USD 1456 million in 2021, as per our research, the market is expected to reach USD 2,627.74 million in 2031, exhibiting a CAGR of 6.1% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with digital notes experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
PEX stands for cross-linked polyethylene (PE), which is regarded as an environmentally beneficial substance since, unlike other plastic materials like PVC, it does not contain chlorine or sulphur dioxides during its production. The nature of polyethylene, commonly known as PEX, is changed from thermoplastic to thermoset through cross-linking (Crossed-Linked Polyethylene). Chains were joined together through covalent bonds during the cross-linking process, which can be carried out chemically or physically. This further creates a three-dimensional cross-linked infusible. The PEX is available in the form of high-density polyethylene and low-density polyethylene. Cross-linked polyethylene also has higher mechanical strength and is temperature and abrasion resistant.
These characteristics increase the need for PEX in a number of industries, including plumbing, wires and cables, automotive, medical, and chemical. PEX is frequently used as electrical insulation in energy wires of all voltage ranges, albeit it is better appropriate for low- and medium-voltage applications. The most widely used polymer insulation material that is resistant to heat, moisture, and the elements is PEX. It provides improved protection for copper cables, allowing for the secure and efficient transport of energy. Therefore, it is projected that the PEX (cross-linked polyethylene) industry would be driven by the rising demand from these applications over the projection period.
COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth
The COVID-19 epidemic has had a severe negative impact on society and the economy. Nearly every business has been impacted by the unmatched worldwide public health emergency known as COVID-19, and the long-term impacts are expected to have an influence on industry growth throughout the course of the forecast period. Numerous organizations’ supply chains and value chains have been impacted by the pandemic. The PEX pipe market is typical. Since transportation was banned the supply from the construction and automotive industries was affected which had an impact on PEX pipe.
LATEST TRENDS
"Introduction of Materials with Better Durability to Boost Market Growth"
The primary market trend driving the expansion of the PEX pipe market is the introduction of weather, heat, and moisture-resistant materials with better durability. In a variety of products, including packaging, medicinal, consumer, and insulation ones, polyethylene is frequently employed. This thermoplastic has been treated. The operation of polyethylene at high temperatures is constrained because, like all thermoplastics, it begins to flow above its melting point and loses its desired mechanical properties. Thus, it undergoes cross-linking to change from a thermoplastic to a thermoset material, resulting in a stronger, more temperature-resistant plastic.
PEX Pipe Market Segmentation
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- By Type Analysis
As per the type, the market is classified as follows: PEX-A, PEX-B, and PEX-C. PEX- A type is anticipated to dominate the PEX pipe market share.
- By Application Analysis
Based on application, the market is segmented as follows: Residential and Commercial. The commercial segment is where PEX is being used at the quickest rate of growth.
DRIVING FACTORS
"High Insulation Qualities to Facilitate Market Development"
Increased demand from applications like plumbing and radiant heating, along with the expanding global construction market, high insulation qualities, and affordable installation costs compared to other conventional materials, are some of the factors that are likely to propel the growth of the PEX pipe market over the coming years. The demand for energy efficiency and conservation is also anticipated to provide new market prospects for PEX pipes globally. PEX pipe is frequently used as electrical insulation in energy wires of all voltage ranges, albeit it is better appropriate for low- and medium-voltage applications. Therefore, it is projected that the PEX pipe market would be driven by the rising demand from these applications over the projection period.
"Demand from Construction and Automotive Industries to Promote Industry Progress"
The main industry drivers, including rising consumer demand for products from the construction and automotive industries, rising demand for low-cost polyethylene, rising urbanization, rising population, and rising product utilization for tubing and piping applications, are anticipated to support market growth. The expanding automotive sector and the rising need for plastic pipes in the solar industry are the two key factors driving the growth of the PEX pipe market. The use of PEX pipes in demanding and dynamic applications in the power industry also drives the PEX pipe market. Due to its flexibility, PEX pipe has also emerged as a popular choice for use in water plumbing applications. Furthermore, installing PEX pipes requires far less effort than installing traditional pipes since PEX installations require fewer connections and fittings.
RESTRAINING FACTORS
"Unclear Durability and Longevity to Hinder Market Growth"
The maximum bend radius for PEX piping might result in stress on the pipe from poor installation. Furthermore, the wall of the pipe is subjected to extremely high local stresses as a result of significant bends and kinks, which increases the risk of oxidative degradation. The major drawback of PEX is that its durability and longevity are unclear. Although PEX plumbing has a 25-year warranty, it is unknown what can happen to the piping over time. It is difficult to predict what water will do to plastic over a 30-year period because it is so new. The above-mentioned drawbacks would hinder the PEX pipe market growth.
PEX Pipe Market Regional Insights
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"Increase in Demand to Propel Market Progress in North America"
Due to the numerous projects that infrastructure businesses in nations like the U.S., Canada, and others have taken on, North America is anticipated to hold the greatest PEX pipe market share in terms of revenue throughout the projected period. Because of this, there is now a higher need for PEX pipes, which will spur expansion over the next years. Due to its expanding construction sector and developing water distribution network installations throughout numerous cities as a result of an increasing population base, this region has a strong potential for the PEX pipe type, with growth prospects until 2030.
KEY MARKET PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Williams (U.K)
- Pipelife (Austria)
- Viega (Germany)
- NIBCO (U.S.)
- LK Pex (Sweden)
- Industrial Blansol (Spain)
- Uponor (Finland)
- SharkBite (U.S.)
- Pexgol (Israel)
- GF Piping System (Switzerland)
REPORT COVERAGE
The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1456 Million in 2021 |
Market Size Value By |
US$ 2627.74 Million by 2031 |
Growth Rate |
CAGR of 6.1% from 2021 to 2031 |
Forecast Period |
2023-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the PEX pipe market expected to touch by 2031?
Based on our research, the PEX pipe market is projected to touch USD 2,627.74 million in 2031.
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What CAGR is the PEX pipe market expected to exhibit by 2031?
The PEX pipe market is expected to exhibit a CAGR of 6.1% by 2031.
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What are the driving factors of the PEX pipe market?
The high insulation qualities and demand from the construction and automotive industries are the driving factors of the PEX pipe market.
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Which are the top companies operating in the PEX pipe market?
Williams, Pipelife, Viega, NIBCO, LK Pex, Industrial Blansol, Uponor, SharkBite, Pexgol, and GF Piping System are the top companies operating in the PEX pipe market.
