HDPE Pipes Market to Expand with a CAGR of 7.5% by 2024 Owing to Increase in Mining Industry
- by KD Market Insights
- Feb, 2021
According to a recent report published by KD Market Insights, titled, HDPE Pipes Market 2018: Market Size, Market Volume, Trends, Opportunity, Forecast 2018-2024, “the global HDPE pipes market accounted for USD 14,939.9 Million in 2018 and is estimated to reach USD 22,976.8 Million by 2024. Moreover, it is anticipated to flourish at a CAGR of 7.5% during the forecast period i.e. 2019-2024.
The global HDPE pipes market has been segmented based on product type and application. Based on the product type, this market has been segmented into PE80, PE100, PE100RC, and others. PE 100 is the largest market segment among these whereas the PE100RC segment is estimated to emerge as the fastest growing market over the upcoming years. PE 100 high-density polyethylene pipes are one of the appreciated and best type of piping products. The high-density polyethylene pipes produced with PE100 grade materials are relatively lighter and stronger than the other grades of polyethylene materials and therefore are cost effective as well.
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In the application segment, the HDPE pipe market is sub-segmented into oil & gas Pipe, agricultural irrigation pipe, water supply pipe, sewage system pipe, and others.
HDPE Pipes in the Mining Industry
The HDPE pipes are used for transferring minerals and wasters in the mines and offer unique mechanical characteristics such as high reliability and security. These unique mechanical characteristics of the polyethylene have increased the use of high-density polyethylene (HDPE) pipes and high-density polyethylene (HDPE) piping systems in the mining industry. Apart from this, in Southern Africa, 30% of all HDPE pipes are used in the mining application due to its superb chemical and abrasion resistance. These pipes offer a variety of environmental benefits to mine, such as reducing the carbon footprint from transportation because of light weights and the ability to maximize consignments. Further, these factors are likely to impact the growth of HDPE pipes in the mining industry.
Usage of HDPE Pipes in Agricultural Applications
The demand for high-density polyethylene (HDPE) pipes in agricultural applications is increasing on the back of its excellent performance and a long-life expectancy. The growing demand for the water irrigation system (in numerous applications such as flood irrigation, drip irrigation, and others) in the agricultural industry is anticipated to drive the growth of the HDPE pipes market. Further, the high-density polyethylene (HDPE) pipe can provide up to a 10% increase in water reaching the crops over traditional materials, such as PVC, as a result of less water leakage.
In terms of geography, the high-density polyethylene (HDPE) pipes market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounts for the major share of the global high-density polyethylene (HDPE) pipes market.
In terms of Volume, Asia Pacific HDPE pipes market is expected to mark a valuation of 7,812.7 Thousand Ton by 2024 by growing at a CAGR of 6.4% throughout the forecast period i.e. 2019-2024 and is expected to collect an opportunity of 2,396.3 Thousand Ton between 2018 & 2024. Asia Pacific region market for HDPE pipes is about to witness a Y-o-Y growth of 6.8% in 2024.
The report also covers detailed competitive analysis of major market players of the global HDPE pipes market, such as JM Eagle Inc., WL Plastics, POLYPLASTIC Group, Lane Enterprises, Inc., Prinsco, Inc., Uponor Oyj, Mexichem, United Poly Systems, Blue Diamond Industries, LLC and Radius Systems Ltd. The HDPE pipe market is witnessing a wide range of industry activities such as acquisition, mergers, and expansion across the globe. For instance, On January 02, 2018, Hexatronic Group AB completed the acquisition of Blue Diamond Industries LLC. BDI manufactures Hexatronic acquired BDI to strengthen their presence in the North American market.
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