Pipe Joints Market Report Overview
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The Pipe Joints Market size is expected to grow USD 10900 Million in 2022 to USD 16055.67 Million by 2031 at a Compound Annual Growth (CAGR) of 4.4% from 2022 to 2031.
Pipe fittings are utilized to join pipes and tubes of various materials and sizes. They can also be used to end a pipe or change its course. Typically, pipe fittings are composed of brass, plastic, or metal. Large scale interregional oil and gas projects have fueled the demand for high performance corrosion resistant steel and plastic pipes. The market will experience significant growth during the forecast period as a result of the adoption of steel pipes and fittings by numerous industries, including Chemicals & Petrochemicals, Mining, and others. Steel pipes and fittings are corrosion resistant. In recent years, new manufacturing techniques for Oriented Poly Vinyl Chloride (OPVC) pipes have emerged in an effort to enhance the traditional mechanical properties of plastic pipes. OPVC pipes are intended for use in high pressure water conveyance and have a pressure handling capacity comparable to metal pipes up to PN 25 bars.
China is the market leader in pipe manufacture in the Asia-Pacific region. Significant investment in the upstream, middle, and downstream oil and gas industries is causing an increase in demand for pipes and fittings. The growth in investment in the power producing sector, which employs renewable energy sources, is the sector of the pipes and fittings market that is expanding at the highest rate. For instance, BASF started work on its USD 10 billion integrated petrochemicals complex in Guangdong, a province in southern China, in November 2019. As a consequence of both these expected chemical and oil and gas facilities, it is anticipated that the demand for PVDF pipes will increase dramatically. This in turn promotes market growth.
COVID-19 Impact: COVID-19 Pandemic Has Disrupted The Supply Chain Hence Hindered The Market Growth
Due to the worldwide lockdown brought on by the COVID-19 pandemic, many goods in the threaded pipe fittings industry are no longer being produced. This has slowed the market's expansion for threaded pipe fittings over the past several months and is probably going to do so through 2021. The sales of threaded pipe fittings were already impacted by COVID-19 in the first quarter of 2021, and it is projected that this would have a negative effect on market growth throughout the year. The U.S., Germany, Italy, the United Kingdom, and China, which are adversely impacted by the spread of the coronavirus and consequently see a decline in demand for threaded pipe fittings, once accounted for the majority of the world's production. Furthermore, the lockdown's potential effects are now unknown, and a company's ability to recover financially depends entirely on its cash reserves. Manufacturers of threaded pipe fittings can only sustain a complete lockdown for a limited period of time before the players must change their investment strategies. For instance, in order to save costs, a number of market participants temporarily stopped their output. A small number of players also implemented personnel layoffs to survive the COVID-19 health issue.
Latest Trends
"Increase In Water Consumption Propel The Market"
The market for pipes and fittings is expanding due to an increase in water consumption across several industries. The expansion of the worldwide water and wastewater pipes sector is also aided by the rising sales of several real-time devices including pressure monitoring metres and pumps. For administrative organisations and governments to succeed, they must be committed to delivering drinkable water to homes and businesses on a regular basis. In addition, the manufacturing sector's demand of water needs the development of suitable pipes. As a result, the fundamental demands of all the key sectors indicate to the necessity of upgraded water and wastewater pipelines. The expansion of the global market has been boosted by the accessibility of superior pipe producing materials. The construction of a 106-MGD water treatment plant (WTP) in India was permitted by the Delhi Jal Board in 2019, helping to fulfil the city's demand for drinking water. During the anticipated period of 2021–2030, these initiatives are anticipated to accelerate the market's growth rate.
Pipe Joints Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Metal Pipe Joints, Plastic Pipe Joints, and Other Pipe Joints. Metal Pipe Joints is anticipated to be the leading segment.
- By Application Analysis
Based on application, the market can be divided into Construction Industry, Petrochemical Industry, Electronic and Electrical Industry, Water Treatment Industry, Other. Construction Industry will be the dominating segment.
Driving Factors
"Modernization And Government Investment Will Fuel The Market"
Pipes and fittings are being used for adequate water distribution systems and other applications as urban infrastructure development expands quickly as a result of expanding government infrastructure projects and a spike in urbanisation. As the infrastructure sector has grown to be the main area of attention, the Indian government intends to spend $1.4 trillion on infrastructure from 2019 to 2023 in order to ensure the sustainable growth of the nation. Additionally, the government has recommended spending $750 billion on train infrastructure between 2018 and 2030. All of these expenditures are expected to fuel market expansion. The U.S. government launched its infrastructure programme to update the country's infrastructure in February 2019 with the goal of improving procurement procedures and project delivery. A $200 billion investment was made for it with the goal of generating $1.5 trillion in state funding for municipal and commercial infrastructure projects. The Conference Board reports that the Fiscal Year 2021 budget proposal included a roughly $200 billion funding initiative for infrastructure that was raised in 2021 along with a $810 billion reauthorization of existing surface transportation programmes, which is equivalent to an increase in nominal funding levels of about 4% annually in the United States and will help the market grow.
"Concentrate On Wastewater Treatment To Fulfil Global Water Demand"
36% of the world's population, according to the World Bank, resides in areas with a lack of water. Approximately 30–40% of the population in the United States is connected to a sewage system, and this wastewater is collected and processed for future use. The market is expanding due to factors such as increased public health concerns over water quality and public health, rising industrial demand, and strict regulatory restrictions on wastewater treatment. Urban sewage treatment is required in China due to the country's rapidly rising consumer demand as well as the country's increasing water shortage. The most recent methods, such as biological treatment, suspended material removal, and disinfection/oxidation, are utilised to treat municipal water and wastewater. Following the sewage collection, measurements of liquid in all stages, including sludge by-products and huge quantities of fluid containing suspended particles, are made for the treatment process, which is carried out by the piping system. Sewage treatment is what is causing the market to grow thanks to significant investments in research and development of water treatment technology and the development of new technologies with the aim of preventing the extinction of natural resources. Germany has a very efficient wastewater management system that is built to effectively recycle all forms of discarded water, from water from homes to water from industry. Due to its cutting-edge machinery and pipe infrastructure for the water treatment process, this nation is a global environmental leader in wastewater management.
Restraining Factors
"Intensive Maintenance Needs will Restrict The Market Growth"
The high maintenance needs resulting from pipe leakages are one of the primary factors holding back the growth of the pipes and fittings market. Given that pipes are used extensively in plumbing, sewage distribution, and other applications, leaks in pipes result in expensive end-user investments and high maintenance costs. In comparison to pipes made of other materials like copper, plastic, and others, galvanised steel pipes have a fairly limited lifespan. Additionally, rust can accumulate within pipes over time, particularly those with tiny diameters, as well as break away from the inside walls of pipes and mix with the water as it passes through, discolouring the water as a result. Lead may damage pipes made of metal because it can leak into the water and make it dangerous to drink. Additionally, when the outside galvanization of galvanised pipes is weakened, the pipes quickly become susceptible to corrosion.
Pipe Joints Market Regional Insights
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"Asia-Pacific will Dominate The Market During Forecast Period"
The Asia-Pacific pipe production market is dominated by China. A rise in demand for pipes and fittings is being driven by significant investment in the upstream, midstream, and downstream oil and gas industries. The pipes and fittings market's fastest-growing industry is the increase in investment in the power generating sector, which uses renewable energy sources. For instance, in Guangdong, a state in southern China, BASF began construction on its USD 10 billion integrated petrochemicals complex in November 2019. Therefore, it is anticipated that the demand for PVDF pipes would expand significantly as a result of both of these anticipated chemical and oil and gas facilities. In turn, this helps the market's expansion.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
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 Market Players Profiled
- Victaulic (U.S.)
- LESSO (China)
- Mueller Water Products (U.S.)
- Mueller Industries (U.S.)
- Hitachi Metals (Japan)
- Uponor (Finland)
- McWane (U.S.)
- Pipelife (U.S.)
- Zhejiang Hailiang (China)
- Yonggao (China)
- Kangtai Pipe (China)
- RWC (U.S.)
- Asahi Yukizai (Japan)
- Rehau (Switzerland)
- Charlotte Pipe (U.S.)
- Pennsylvania Machine (U.S.)
- JFE Pipe Fitting Mfg. Co., Ltd. (Japan)
- Kazanorgsintez (Russia)
- Jain Irrigation Systems (India)
- Prince Pipes and Fittings (India)
- Uni-Joint (India)
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.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 10900 Million in 2022 |
Market Size Value By |
US$ 16055.67 Million by 2031 |
Growth Rate |
CAGR of 4.4% from 2022 to 2031 |
Forecast Period |
2024-2031 |
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 global Pipe Joints Market expected to touch by 2031?
The global Pipe Joints Market is expected to touch USD 16055.67 million by 2031.
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What CAGR is the Pipe Joints market expected to exhibit during 2023-2031?
The Pipe Joints market is expected to exhibit a CAGR of 4.4% over 2023-2031.
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Which are the driving factors of the Pipe Joints market?
Pipes and fittings are being used for adequate water distribution systems and other applications as urban infrastructure development are the driving factors of the Pipe Joints market.
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Which are the top companies operating in the Pipe Joints market?
Victaulic, LESSO, Mueller Water Products, Mueller Industries, Hitachi Metals, Uponor, McWane, Pipelife, Zhejiang Hailiang, Yonggao, Kangtai Pipe, RWC, Asahi Yukizai, Rehau, Charlotte Pipe, Pennsylvania Machine, JFE Pipe Fitting Mfg. Co., Ltd., Kazanorgsintez, Jain Irrigation Systems, Prince Pipes and Fittings, Uni-Joint are the top companies operating in the Pipe Joints market.