Polymeric Flexible Tubing Market Report Overview
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The global polymeric flexible tubing market size is USD 80.62 billion in 2022 and is expected to reach USD 99.102 billion in 2028, exhibiting a CAGR of 3.5% during the forecast period.
Polymeric flexible tubing consisting of polymers is known as polymeric tubing. Long chains of molecules known as polymers can be created either naturally or artificially. Extrusion is a procedure that shapes polymer by melting it and forcing it through a die to produce flexible tubing in the desired shape. Polyethylene, a polymer created by polymerizing ethylene, is used to create poly tubing, a highly flexible, lightweight, and resilient tube.
It is a kind of tube with exceptionally flexible walls that is also resistant to breaking and cracking. The hose for pneumatic tools is frequently composed of flexible tubing. A flexible hose, sometimes referred to as a hose for short, is a sort of piping that may carry different liquids and gases to other places. The garden hose, often known as a hosepipe, is the hose that homeowners use the most frequently.
COVID-19 Impact: Financial Imbalance Causes Market Distortion
The global COVID-19 pandemic has been unprecedented and staggering, with polymeric flexible tubing experiencing higher-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.
The COVID-19 outbreak caused unstable markets, a drop in consumer confidence, and problems with import and export commerce for producers of chemicals and advanced materials. Markets were shuttered as a result of the lockdown, and many people stayed inside. Supply chain breaches, stock market inefficiencies, and vendor instability are results of this evolution. The market as a whole was impacted by the shutdown of the chemicals and advanced materials industry. Because there was no longer a market for the product, polymeric flexible tubing became obsolete as those markets closed. In order to maintain stability amidst the disruptions, organizations were forced to redesign their entire operational structures as a result of the pandemic. The financial imbalance brought on by the closure of numerous stores and significant sectors was the primary factor that distorted the entire market. In addition, the outbreak has a negative impact on the business operations of the enterprises, which affects the chemicals and advanced materials market as a whole. The polymeric flexible tubing market has been somewhat impacted by this.
LATEST TRENDS
"Industrial Sector to Boost the Market Growth"
A type of polymeric materials known as thermosetting elastomers combines elastic and thermosetting characteristics. High temperatures cause these materials to cross-link, and after cooling, they harden and become rigid. Applications for it in automobiles include power steering return hoses, vacuum hoses, and fuel lines. It is acting as a main grebe fir the market that provides far better resistance to weathering, chemicals, and abrasion. It may also be easily routed around obstructions and tight turns. Polymeric flexible tubing is frequently used to transport hot or corrosive substances. Electrical wire protection from chemical or abrasion attack is another application for it. To fulfil the requirements of any application, polymeric flexible tubing is offered in a variety of diameters, shapes, and colors. Thus, a key trend that is opening up potential for the industry to grow is industrial sector. These new developments are mostly to blame for the market's overall growth.
Polymeric Flexible Tubing Market Segmentation
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- By Types
Based on type, the market is classified into Rubber Flexible Tubing, PVC Flexible Tubing, Polyethylene Flexible Tubing, Nylon Flexible Tubing, Polyurethane Flexible Tubing & Others.
- By Application
Based on application, the market is categorized into Automobile, Medical/Pharma, Food & Beverage, Agricultural, Oil & Gas, Chemicals & Others.
DRIVING FACTORS
"Electronic Industry Gives the Market Extra Boost "
According to estimates, rising demand from the electronic industry will hasten market expansion. The device's flexibility and small weight make it perfect for electronics applications. Additionally, it provides outstanding chemical resistance and thermal stability. Such material characteristics are anticipated to accelerate market growth. Because of the product's strong resistance to solvents like acetone and ethers, the market is expected to rise. It is projected that the growing demand for high-performance stability during the semiconductor production process will hasten market expansion. During the forecast period, rapid urbanization and industrialization are expected to fuel market expansion. As a result, the growth and the industrial development to boost the market will contribute to the expansion of the chemicals an advanced materials industry and it will improve the overall Global and United States polymeric flexible tubing market growth.
"Multiple Benefits of Product to Encourage Market Expansion "
Excellent thermal stability makes the product more likely to be used in medical applications. Its heat resistance and light weight are expected to drive market expansion. Additionally, the product has a high mechanical strength, which is anticipated to fuel market expansion over the course of the projection year. The material transmits torque, which is expected to support market growth. Additionally, the fact that the material comes in a variety of colors is anticipated to stimulate business growth for polymeric flexible tubing. Market expansion is anticipated to be fueled by rising demand for kink resistance and chemical inertia. As a result, during the projected period, the market for services is anticipated to rise rapidly.
RESTRAINING FACTORS
"Lack of Chemical to Impede Market Expansion"
Market expansion is predicted to be hampered by the product's lack of chemical components. The product's low water resistance is another factor that is expected to limit demand during the projected period. Political unrest and high product costs, which are acting as a barrier, are anticipated to limit polymeric flexible tubing market expansion. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.
Polymeric Flexible Tubing Market Regional Insights
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"North America Dominating the Market Across the Globe"
The market for polymeric flexible tubing in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the Global and United States polymeric flexible tubing market share is the growing demand of product in Automobile, Medical/Pharma, Food & Beverage, Agricultural, Oil & Gas, Chemicals industry is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.
KEY INDUSTRY PLAYERS
"Leading Manufacturers to Boost Product Demand"
The research provides details on the list of market participants and their activity in the sector. Acquisitions, mergers, technical advancements, collaborations, and increasing production facilities are used to gather and report the information. The companies that produce and introduce new products, the areas where they operate, automation, technology adoption, creating the greatest income, and making a difference with their products are some of the other factors that are looked at for this market.
List of Market Players Profiled
- Parker Hannifin (U.S.)
- Continental (Germany)
- Saint-Gobain (France)
- Eaton (Ireland)
- Zeus (U.S.)
REPORT COVERAGE
The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost polymeric flexible tubing market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 80.62 Billion in 2022 |
Market Size Value By |
US$ 99.102 Billion by 2028 |
Growth Rate |
CAGR of 3.5% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the polymeric flexible tubing market expected to touch by 2028?
Based on our research, the polymeric flexible tubing market is projected to touch USD 99.102 billion by 2028.
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What CAGR is the polymeric flexible tubing market expected to exhibit by 2028?
The polymeric flexible tubing market is expected to exhibit a CAGR of 3.5% by 2028.
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Which are the driving factors of the polymeric flexible tubing market?
Electronic industry that gives the market extra boost & multiple benefits of product to encourage market expansion.
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What is the restraining factor of the polymeric flexible tubing market?
The restraining factor of the polymeric flexible tubing market is the lack of chemical to impede market expansion.
