At 6.2% CAGR, Asia Pacific Plastic Pipes Market is Projected to be Worth US$ 52,599.98 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific plastic pipes market was valued at US$ 32,392.51 million in 2023 and is expected to reach US$ 52,599.98 million by 2031, registering a CAGR of 6.2% from 2023 to 2031. Surging water and wastewater infrastructure development and growing residential and commercial construction activities are among the critical factors attributed to drive the Asia Pacific plastic pipes market growth.

Urban wastewater treatment plants that integrate resource recovery and energy production processes with clean water production contribute significantly to the sustainable development of any country. Over the past two decades, the demand for wastewater treatment has increased due to the trend of recovering water from energy generation processes. A report published by the United Nations Department of Economic and Social Affairs in 2022 highlights the rising interdependency of water and energy generation, with the increasing demand for each of these resources in many regions. According to the current policy scenario of the International Energy Agency, energy consumption is projected to increase by 50% by 2035, boosting water consumption of the energy sector by 85%. Plastic pipes are an important part of modern water and wastewater infrastructure due to their durability and ease of installation. These pipes are used in water supply, wastewater collection, and stormwater management. According to the report published by the International Trade Administration in 2023, as of 2021, China's water treatment facilities treat wastewater for 98.1% of municipalities and 28% of rural areas. According to a report published by the International Trade Administration in 2022, Saline Water Conversion Corporation (a government-based organization) is responsible for 69% of desalination in Saudi Arabia; moreover, it accounts for 20% of global desalination processes. Thus, the surge in water and wastewater infrastructure development fuels the market growth.

On the contrary, fluctuations in raw material prices hamper the growth of Asia Pacific plastic pipes market .

Based on type, the Asia Pacific plastic pipes market is bifurcated into corrugated and smooth wall. The smooth wall segment held 81.1% market share in 2023, amassing US$ 26,279.07 million. It is projected to garner US$ 43,005.29 million by 2031 to register 6.4% CAGR during 2023–2031.

By material type, the Asia Pacific plastic pipes market is divided into polyvinyl chloride, high-density polyethylene, polypropylene, and others. The polyvinyl chloride segment held 56.2% share of Asia Pacific plastic pipes market in 2023, amassing US$ 18,198.14 million. It is anticipated to garner US$ 29,741.26 million by 2031 to expand at 6.3% CAGR during 2023–2031.

In the terms of application, the Asia Pacific plastic pipes market is segmented into water supply, sewage and drainage, irrigation, gas distribution, and others. The water supply segment held 35.3% share of Asia Pacific plastic pipes market in 2023, amassing US$ 11,420.64 million. It is anticipated to garner US$ 17,829.12 million by 2031 to expand at 5.7% CAGR during 2023–2031.

Based on end-use industry, the Asia Pacific plastic pipes market is segmented into construction and infrastructure, water and wastewater management, oil and gas, and others. The construction and infrastructure segment held 38.8% share of Asia Pacific plastic pipes market in 2023, amassing US$ 12,577.57 million. It is anticipated to garner US$ 20,403.12 million by 2031 to expand at 6.2% CAGR during 2023–2031.

Based on country, the Asia Pacific plastic pipes market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 60.7% share of Asia Pacific plastic pipes market in 2023. It was assessed at US$ 19,673.55 million in 2023 and is likely to hit US$ 33,101.86 million by 2031, registering a CAGR of 6.7% during 2023–2031.

Key players operating in the Asia Pacific plastic pipes market are Advanced Drainage Systems Inc, Aliaxis Holdings SA, ASTRAL PIPES, China Lesso Group Holdings Ltd, Finolex Industries Ltd, Genuit Group Plc, Georg Fischer Ltd, NAN YA PLASTICS CORPORATION, Orbia, and Sekisui Chemical Co Ltd, among others.

• July-2022; Uponor IQ Blue is a new generation of stormwater pipes that reduce the carbon footprint by up to 70% over their lifetime. The reduction is achieved owing to its composition of over 50% of raw material from certified renewable feedstock.

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