Corrugated Pipe Market Demand, Investment And Forecast 2028
The corrugated pipe market was valued at US$ 13,059.47 million in 2020 and is projected to reach US$ 21,221.04 million by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.
According to the latest market study on “Corrugated Pipe Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Single Wall Corrugated and Double Wall Corrugated), Product (Metal Corrugated Pipe and Plastic Corrugated Pipe), and Application (Power Cable Conduit and Telecom Cable Duct, Drainage and Sewerage Lines, and Building and Construction),” the market was valued at US$ 13,059.47 in 2020 and is projected to reach US$ 21,221.04 by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028. The report highlights key driving factors and prominent market players along with their developments in the market.
A corrugated pipe has a series of ridges and grooves that run parallel to each other on its surface. These ridges and grooves follow a pattern—they are perpendicular to and bisect the centerline of the pipeline. The corrugated pipes are made of steel or plastics such as high-density polyethylene (HDPE) and polyvinyl chloride (PVC). Corrugated pipes are mostly used in applications such as storm drains and culverts where flexibility, durability, and strength are important attributes. The flexible property of the corrugated pipes makes it more useful and suitable for wide variety of applications as compared to rigid and non-corrugated pipes. The corrugated pipes are increasingly being used in sewage and drainage systems due to various operational advantages associated with them. The pipes exhibit long-lasting performance due to low abrasion of inner walls and resistance to acids and other fluids, and they also support high fluid rates. Moreover, these pipes are lightweight and strong. As a result, a low number of resources are required for the installation and can be installed in constrained areas. These piping systems provide joint integrity, thereby exhibiting tight\, leak-proof joints. The corrugated pipes are also characterized by low operational costs due to the lower transportation cost as a greater number of double-wall pipes can be loaded in a truck with less damage while storing and handling, unlike concrete pipes. Further, the requirement of lesser number of laborers in installation reduces installation costs. Corrugated pipes can be used for stormwater drainage as well as subsurface drainage.
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The ongoing COVID-19 pandemic has had a significant impact on the corrugated pipe market. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The disruptions in the production as well as supply chain have had a negative impact on the corrugated pipe market. Various countries across the world had lockdown like situations due to outbreak of COVID-19, which led various businesses such as the construction and agricultural business to function in a limited way which in turn severely affected the corrugated pipe market. Along with this, the construction has also been slumping, which has affected demand for polyvinyl chloride (PVC), which is used in pipes. The US Census Bureau showed a 19% decline in housing starts (new residential construction projects) in April versus the year before along with the consumption of PVC being down by 25%. Thus, the low demand from the end use industries has had a negative impact on corrugated pipe market.
Advanced Drainage Systems; Bina Plastic Industries Sdn. Bhd; Contech Engineered Solutions Llc; Jain Irrigation Systems Ltd; Dura Life India; Fränkische Industrial Pipes Gmbh and Co. Kg; Jm Eagle, Inc.; Pacific Corrugated Pipe Company; Pars Ethylene Kish Co.; and TDR, Inc are among the well-established players in the global corrugated pipe market.
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