Plastic Pipes Market Report By Insights, Size, and Growth - 2031

The plastic pipes market is anticipated to reach a valuation of US$ 103.51 billion by the year 2031, up from US$ 65.41 billion in 2023. This growth trajectory indicates a compound annual growth rate (CAGR) of 5.9% from 2023 to 2031.

Significant expansion in the global plastic pipes market is being fueled by the booming construction sector and increasing initiatives for water and wastewater management across the globe. The surge in market growth can be linked to rapid industrialization and urbanization, especially in developing nations. Furthermore, the global shift towards sustainability has also impacted the plastic pipes sector, prompting manufacturers to focus on eco-friendly materials and formulations.

The market is categorized by type into corrugated (which includes single-wall and multi-wall) and smoothwall pipes. In 2023, the smoothwall segment dominated the market, being the largest contributor. Smoothwall pipes, typically made from materials such as HDPE, PVC, or PP, feature smooth internal surfaces that facilitate efficient fluid flow. This characteristic makes them particularly advantageous for applications in water supply, sewage systems, irrigation, and industrial piping. Additionally, smoothwall plastic pipes exhibit superior corrosion resistance compared to traditional metal pipes, especially in challenging environments involving chemical exposure and high humidity.

On the other hand, corrugated plastic pipes are characterized by their ridged and grooved structure, generally manufactured from HDPE and PVC. This unique design endows them with enhanced structural integrity, strength, flexibility, and durability, making them suitable for a diverse array of applications.

When examining applications, the global plastic pipes market is divided into segments such as water supply, sewage and drainage, irrigation, gas distribution, and others. The water supply segment was the largest in 2023, driven by increasing urbanization and the rising demand for clean, safe water. The heightened emphasis on water conservation and efficient management systems has led to a greater adoption of plastic piping systems that incorporate advanced technologies, including leak detection and smart monitoring capabilities. Both residential and commercial construction activities are significant contributors to the integration of plastic piping networks for water supply.

In 2023, the Asia Pacific region accounted for the largest share of revenue in the global plastic pipes market. This region is witnessing remarkable growth in the construction industry. Notably, India stands out as a major market for plastic pipes. According to Invest India, cement production in India is projected to grow by approximately 12% annually, driven by rural housing demands and a strong governmental focus on infrastructure development. The construction sector in India is expected to expand significantly, bolstered by the National Infrastructure Pipeline, which aims for an investment of US$ 1.35 trillion by 2025. Consequently, the growth of the plastic pipes market in India is closely linked to the advancements in agriculture and construction sectors.

Key players in the plastic pipes market include JM Eagle Inc, Uponor Corp, Georg Fischer Ltd, Sekisui Chemical Co Ltd, China Lesso Group Holdings Ltd, Astral Poly Technik Limited, Finolex Industries Ltd, Genuit Group Plc, Formosa Plastics Corp, Vasen Europe, Luna Plast, Orbia, Aliaxis Holdings SA, and Advanced Drainage Systems Inc. These companies are committed to delivering high-quality products to meet customer needs and are actively pursuing various strategies, including new product launches, capacity expansions, partnerships, and collaborations to maintain their competitive edge in the market.

For stakeholders, understanding the forecast of the plastic pipes market is crucial for planning growth strategies. In 2023, Advanced Drainage Systems (ADS) announced plans to establish a new manufacturing facility in Lake Wales, Florida. This facility will focus on producing large volumes of corrugated plastic pipes, with construction expected to commence in 2024 on a 100-acre site.

The overall size of the global plastic pipes market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants to validate the findings and gain deeper analytical insights. Participants included industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the plastic pipes market.