Global sales of plastic pipes surpassed $30billion in 2018

Global sales of plastic pipes surpassed $30billion in 2018
Published: 1 October 2019 - 12:30 p.m.
Global sales of plastic pipes surpassed $30billion in 2018, data analysis from Persistence Market Research has found.

The market size is anticipated to grow at a CAGR of 5% between now and 2029, prominently influenced by the cyclic trend of the construction industry and new product launches.

Research states that countries such as the US, India and China are leading contributors to the growth of construction industry, including residential, commercial, and industrial sectors, and are estimated to contribute more than 50% to the growth of global construction industry in the near future.

Increasing onshore exploration activity and transportation via pipelines, in turn, is expected to boost the demand for pipes during the forecast period.

Growing water management activities supported by government initiatives are also touted as a key market driver.

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