DELRAY BEACH, Fla., Oct. 14, 2024 /PRNewswire/ -- The global Plastic Hot and Cold Pipe Market is anticipated 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. The major factors driving the market growth of the plastic hot and cold pipe market includes cost-effectiveness, corrosion resistance, and ease of installation. Plastic pipes have certain good advantages, including insulation that does not allow condensation of moisture in cold water pipes and reduces heat loss in hot water systems. It is easier to transport and handle components when available rather than metallic alternatives. These, among other factors, coupled with environmental aspects like recyclability as well as lower carbon emissions in production, rising demand in energy-efficient plumbing, smart leakage detection technology, and other innovations, are driving the market forward.
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Water plumbing pipes by Application, is expected to be the largest Plastic hot and cold pipe market during the forecast period.
Water plumbing pipes application is expected to account largest market share during the forecast period. Due to efficiency in handling hot as well as cold water, plastic piping products, including both plastic hot and cold piping, are highly used in water plumbing applications. The long-durable piping products of high-grade corrosion-resistant ability to maintain the purity of water are ideal for residential and commercial as well as for industrial purposes. Plumbing systems have been installed in buildings to satisfy the demand for drinking and other consumable purposes within the house. Furthermore, the smart home trend and environmental building practices are gaining traction and contributing to accelerating demand for energy efficiency and environmental sustainability in plumbing solutions.
Residential segment by end-user, is expected to be the fastest Plastic hot and cold pipe market during forecast period.
Plastic hot and cold pipe for residential use is primarily used because of their reliability, cost-effectiveness, durability, and corrosion resistance features. The integration of flourishing residential construction sector, excellent performance characteristics of plastic pipes, and the ever-increasing demand for sustainable material is an important factor driving strong market growth in the present scenario. Ongoing residential construction expansion, encourages the demand for low-cost and fast installation plumbing, further pushing the market for plastic hot and cold pipe.
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Asia Pacific is expected to be the fastest region in the Plastic hot and cold pipe market during the forecast period.
The major end users such as residential, commercial (malls and shopping complexes, hospitals, and office spaces), and industrial sectors (power generation, oil & gas, and automotive industries) are expected to drive the plastic hot and cold pipe market in Asia Pacific. The region is experiencing rapid development fuelled by the growth of major economies such as China, India, South Korea, Japan, Indonesia, and Australia. Asia Pacific has emerged as a global hub for manufacturing activities, with virtually every industry experiencing growth.
Key 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).
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