The Southeast Asia Pipes Market size is expected to reach USD 24.8 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.3% from 2020 to 2028. Growing investments towards infrastructure development and the use of the product in construction refurbishment are factors expected to drive industry growth over the forecast period.
Factors such as changes in raw material prices, stringent
government regulations regarding industrial processes, policies related to the
environment, and sustainability of the products are likely to have an impact on
the profit margins of the product manufacturers. Investors are highly exposed
to long-term risks due to possible disruptions in the demand for raw materials,
oil price fluctuations in the global market.
The COVID 19 pandemic has severely impacted the growth of
the market in the region. Lockdown measures to curb the spread of the virus in
several countries along with the disruption of the global supply chain have
impacted the majority of industries including construction, food, and chemical
processing. Moreover, complexities in the supply chain also caused a shortage
in raw materials supply for the production of pipes.
Related Press
Release@ Southeast
Asia Pipes Market Report
Southeast Asia Pipes Market Report Highlights
- The
polypropylene pipes segment accounted for revenue share valued at USD 4.5
billion in 2020 on account of their superior chemical resistance and lower
thermal conductivity, which prompts their usage in the HVAC, and drainage
systems
- The
plumbing application segment is expected to register a sales revenue of
USD 5.6 billion by 2028 due to the growth of the residential and
commercial construction in the region owing to the rising adoption of
‘China plus one’ strategy by the major industry players
- The
commercial sector accounted for a revenue share of 72.8% in 2020 due to
high consumption of the product in water supply infrastructure, hospitals,
and industrial facilities
- In
Vietnam, the market is expected to witness a CAGR of 4.0% from 2020 to
2028 on account of rising investments for the development of drainage and
sewage systems in the country driven by plans such as the Trenchless
Sewerage Pipe Rehabilitation
- Manufacturers
focus on the production of new products for strengthening their market
position. For instance, in March 2021, Wavin has launched its advanced
low-noise pipe system, Wavin AS+ in Indonesia, which is currently
witnessing significant urbanization and infrastructure development
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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