Corrugated Pipe Market is estimated to Witness High Growth Owing to Rising Infrastructure Development
Corrugated pipes are widely used for drainage systems, culverts, and sewage pipes in residential and commercial construction projects. Made up of iron, steel, aluminum, or plastic, corrugated pipes provide resistance to external pressure and structural strength. They are a cost-effective alternative to concrete pipes and easier to transport and install. The increasing investments in infrastructure projects around the world owing to rapid urbanization are driving the demand for corrugated pipes significantly.
Global corrugated pipe market is estimated to be valued at USD 16,549.5 Mn in 2024 and is expected to reach USD 25,049.1 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Corrugated Pipe market are Pacific Corrugated Company, Bina Plastic Industries Sdn. Bhd, Jain Irrigation Systems Ltd., Fränkische Industrial Pipes Gmbh, Dura Life India, Contech Engineered Solutions LLC, JM Eagle Inc., Pars Ethylene Kish Co., Dutron, Jindal Plast, Crown Pipes, Shree Darshan Pipes, Jagannath Industries, Kuzeyboru, Mipa Industries.
Key opportunities: The Corrugated Pipe Market Demand is experiencing significant growth driven by increasing infrastructure development, urbanization, and the need for efficient drainage and sewage systems. As global urban and rural areas expand, the demand for durable and cost-effective piping solutions, such as corrugated pipes, continues to rise. These pipes offer benefits like flexibility, resilience, and ease of installation, making them ideal for stormwater management, sewage, and irrigation systems. Furthermore, the increasing focus on sustainable construction and eco-friendly infrastructure is fueling the demand for corrugated pipes, presenting new opportunities in both developing and developed regions.
Technological advancements: Advanced corrugated pipes made of materials like HDPE and PP offer enhanced durability and resistance to corrosion. These eco-friendly pipes are gaining popularity.
Market drivers
The major drivers contributing to the growth of the corrugated pipe market are:
- Infrastructure development activities: Rapid urbanization and increasing investments in transport infrastructure, buildings, roads, etc. are fueling the demand for corrugated pipes globally.
- Beneficial product properties: Corrugated pipes provide strength, are flexible, cost-effective, and easy to transport and install. These advantages make them suitable for a wide range of applications.
- Government initiatives: Favorable government policies and funding towards water management projects, rural development, and rural infrastructure will boost market growth over the forecast period.
Current Challenges in Corrugated Pipe Market
The corrugated pipe market is currently facing challenges related to handling large project deadlines and increasing raw material prices. Due to supply chain issues caused by the pandemic, companies are finding it difficult to procure raw materials like PVC, HDPE, and PP in sufficient quantities. This has led to delay in completion of several infrastructure projects. Additionally, fluctuating prices of crude oil which is a key feedstock is increasing production costs. Industry players will need to optimize manufacturing and focus on developing alternative material solutions to address these challenges.
SWOT Analysis
Strength: Corrugated pipes offer high strength, durability and flexibility. They can withstand heavy loads and last longer than conventional pipes.
Weakness: Initial installation costs of corrugated pipes are higher than other alternatives. Special equipment is required for large diameter pipes.
Opportunity: Growing construction of roads, highways and civil infrastructure projects will drive demand. Also, rehabilitation and replacement of aging underground utility networks present opportunities.
Threats: Stiff competition from concrete and steel pipes in large diameter applications. Volatility in raw material prices can impact profitability.
Geographical Regions
North America currently dominates the corrugated pipe market in terms of value due to extensive pipeline networks and ongoing infrastructure projects. The US accounts for the largest share. Moving forward, Asia Pacific is expected to be the fastest growing region supported by initiatives like smart cities and expansion of road, rail and utility networks across China, India and ASEAN countries. Large projects under China's Belt and Road initiative will boost pipe consumption.
Fastest Growing Geographical Region
Asia Pacific is poised to be the fastest growing region for the corrugated pipe market during the forecast period. This can be attributed to rising infrastructure spending, government initiatives for development of transportation and utility infrastructure and expanding construction industry in emerging economies like India and Indonesia. Increasing investments in pipe replacement and rehabilitation will further drive the regional market. China with its mega infrastructure projects under Belt and Road initiative is anticipated to propel the APAC corrugated pipe industry.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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