Categories: Market Research

Polyolefin Pipes Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Polyolefin Pipes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Polyolefin Pipes Global Market Report 2024, The polyolefin pipes market size has grown strongly in recent years. It will grow from $19.11 billion in 2023 to $20.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to infrastructure development, replacement of aging pipelines, chemical industry usage, oil and gas sector demand, sustainable solutions.

The polyolefin pipes market size is expected to see strong growth in the next few years. It will grow to $25.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to global economic factors, infrastructure investments, water management initiative, urban development, pipeline rehabilitation. Major trends in the forecast period include global economic trends, material advantages, market competition and innovation, quality and standards compliance, government initiatives.

The growth of sprinkler and drip irrigation is expected to drive the polyolefin pipes market. Sprinkler irrigation is a sophisticated form of irrigation where the water is delivered under pressure and sprayed through nozzles attached to a network of pipes. Sprinkler and drip irrigation are growing due to increasing water scarcity and the need to increase agricultural productivity and resource efficiency. The growth of sprinkler and drip irrigation will drive demand for polyolefin pipes as they are known to be effective, exceptionally abrasion resistant, and have corrosion resistance, allowing for a long service life. For instance, the Indian government has set a target to achieve 10 million (1 crore) hectares under drip and sprinkler irrigation in 5 years, from 2021-22. In support of this, the government created a drip and sprinkler irrigation fund of $1.2 billion (INR 100 billion) with the National Bank for Agriculture and Rural Development (NABARD), an Indian apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India. Thus, one of the key factors propelling the demand for polyolefin pipes is the growth of sprinkler and drip irrigation.

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The polyolefin pipes market covered in this report is segmented –

1) By Type: Polypropylene Pipes (PP), Polyethylene Pipes (PE), Plastomer

2) By Application: Irrigation, Potable And Plumbing, Wastewater Drainage, Power And Communication, Industrial Application, Chemical Transportation, Other Applications

3) By End-Use: Building And Construction, Agriculture, Industrial, Other End-Users

Technological advancement is a key trend gaining popularity in the polyolefin pipes market. Major players operating in the market are focusing on developing polyolefin pipes with advanced technologies that provide next-generation features such as lightweight, high strength, energy efficiency, and cost-effectiveness to gain a competitive edge in the polyolefin pipes market. For instance, in September 2021, Saudi Basic Industries Corporation (SABIC), a Saudi-based chemical manufacturing company, launched BiAx Pipe technology along with dedicated polyethylene (PE) and polypropylene (PP) resins. The development of new technology and a variety of specialized polyethylene (PE) and polypropylene (PP) resins represent a substantial advancement in the performance profile of polyolefin pressure pipes. BiAx pipe technology outperforms existing polyolefin pipes across the board in every performance characteristic. The technique makes the pipes more abrasion-resistant and increases their lifespan.

The polyolefin pipes market report table of contents includes: