DUBLIN--(BUSINESS WIRE )--The "HDPE Pipes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global HDPE pipes market size reached US$ 18.63 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 25.27 Billion by 2027, exhibiting a CAGR of 5.21% during 2021-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
At present, the growing need for repairing and replacing existing pipes in municipal piping systems around the world represents one of the key factors driving the market. Besides this, there is a rise in the utilization of HDPE pipes in the agriculture industry for flow line irrigation, tube well pipes, drip irrigation, and pesticide spraying system. This, along with the growing development of sewage disposal infrastructures to remove decomposable matter and solid, liquid or gaseous wastes, is positively influencing the market.
Moreover, as HDPE pipes are corrosion and abrasion-resistant, they are used for transporting effluents, acids, alkalis, and slurry in the chemical industry. This, coupled with the increasing employment of HDPE pipes in submarines and underwater pipelines, is contributing to the growth of the market.
In addition, key market players are extensively investing in research and development (R&D) activities to introduce HDPE pipes with freeze-break resistance properties for the safety of potable water. Additionally, the escalating demand for HDPE pipes in the telecommunication sector to protect optic fibers and cables is bolstering the growth of the market.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900