The global plastic hot and cold pipe market is expected to grow from estimated USD 7.24 billion in 2024 to USD 9.96 billion by 2029, at a CAGR of 6.6% during the forecast period. Asia Pacific plastic hot and cold pipes market is expected to lead in terms of region on account of rising urbanization, extensive infrastructure expansion and the prompt development in the building region, particularly in the states like China, India and Japan from 2024 to 2029. Old infrastructure is being massively renovated in China, Japan and South Korea.
The Asia Pacific market accounts for the largest enterprise for plastic hot and cold pipes with its massive construction industry and government investments in infrastructure development in China. Efficient irrigation systems are increasingly relied upon by the agricultural sector in China and especially for water supply and drainage, pipe demand for plastic pipes rises. Rapid urbanization and the focus of the government on water management are expected to help India become the fastest growing market. Demand is being boosted by government programs to improve clean water and sanitation availability in both rural and urban pockets under the Jal Jeevan Mission (India) framework. Japan is an important market, good and mature, with a strong emphasis on innovation and quality. The necessity for durable as well as trusted plumbing answers has caused a critical desire for high efficiency plastic pipes. As a highly developed market with green building preferences, South Korea needs alignment with sustainability rules. demand is anticipated for eco‐friendly plastic pipes in the upcoming years. Australia is a developed market with water conservation as a priority with big demand for plumbing solutions that are efficient and water saving is driving the adoption of plastic pipes.
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The more demand for modern pipage in residential and commercial buildings, the more plastics hot and cold pipes are required. Modern plumbing systems for construction projects in these rapidly urbanizing countries are needed. More and more people are recognizing the environmental benefits of plastic pipes, including that they are recyclable and that they require less energy for production than metal pipes. The prices of raw materials used in the production of plastic pipes used, such as crude oil and natural gas, can fluctuate substantially and can lead to unprofitable production conditions. Plastic pipes are non-biodegradable and therefore a source of environmental concern during the disposal of them because of their effective recycling and waste management solutions.
Additionally, the increased demand for cost effective, durable and eco-friendly plumbing solutions is also supporting the use of plastic pipes. The major advantages of plastic pipes over the traditional metal pipe in plumbing applications is its corrosion resistance, lightweight nature, ease of installation and cost effectiveness. Manufacturers and suppliers can take advantage of the market opportunities for catering the region’s evolving needs. However, they need to be able to deal with such problems as fluctuation of prices for raw material, environmental issue for the sustainable market growth. However, as plastic hot and cold pipe market in Asia Pacific region continues to show positive growth trends, there are challenges posed to it. Other factors includes the need for maintenance, other materials competing against it, and the high costs associated with installation. Moreover, the market is exposed to regulatory compliance and ecological conditions. Astral Pipes, Finolex Pipes, Georg Fischer Ltd., Aliaxis, and Supreme are some of the key players in the Asia Pacific plastic hot and cold pipe market.
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Key Market Players
Some of the major players across the globe in the Plastic Hot and Cold Pipe Market are Georg Fischer Ltd. (Switzerland), Genuit Group (UK), Wienerberger (Austria), Advanced Drainage Systems (US), Aliaxis (Belgium), RWC. (Australia), RIFENG Enterprise Group Co., Ltd. (China), supreme.co.in (India), Chevron Philips Chemical Company LLC. (US), REHAU (Switzerland).