Press release

The Global Plastic Pipes And Pipe Fittings Market Is Set To Reach $115.2 Billion By 2027 At A CAGR Of 9.5% As Per The Business Research Company's Plastic Pipes And Pipe Fittings Global Market Report 2023


LONDON, Nov. 08, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company's Plastic Pipes And Pipe Fittings Global Market Report 2023, the plastic pipes and pipe fittings market is set for substantial growth in 2023, with a projected market size of $80.16 billion, up from $72.52 billion in 2022, marking a remarkable 10.5% compound annual growth rate (CAGR). The industry is anticipated to reach $115.23 billion by 2027, maintaining a CAGR of 9.5% over the forecast period.

Driving Growth: Increased Construction Demand

The global plastic pipes and pipe fitting market is experiencing a surge in demand, primarily driven by the construction industry. The construction sector plays a pivotal role in building housing facilities, which are vital for expanding urban populations. Plastic pipes and fittings are favored in construction projects due to their durability, ease of installation, and cost-effectiveness compared to traditional metal alternatives. In March 2022, the UK witnessed a 1.7% increase in construction output, attributed to a rise in repair and maintenance (3.0%) and new work (1.0%) activities, further emphasizing the growing construction demand.

Learn More In-Depth On The Plastic Pipes And Pipe Fittings Market

https://www.thebusinessresearchcompany.com/report/plastic-pipes-and-pipe-fittings-global-market-report

Key Players in the Industry

Major players in the plastic pipes and pipe fittings market include Available Plastics Inc., Inline Plastics, Kimplas Piping System Limited, WL Plastics, Applied Plastics Co., and more. These companies are at the forefront of innovation and market ...

Full story available on Benzinga.com


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