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CLEVELAND , July 12, 2022 /PRNewswire/ -- Sharp increases in average prices for key raw materials drove a surge in the US pipe market in value terms in 2021, finds a new Freedonia Group analysis. Wire Pipe Tube
In 2021, average prices of PVC, steel, and copper pipe spiked 38%, 48%, and 49%, respectively. The significant increase in prices was due to a number of factors including:
These price increases led to a massive spike in value demand in 2021 that was boosted by a return to growth in pipe usage. In linear feet terms, demand accelerated from a nearly flat 2020, as the oil and gas drilling, industrial processing, and structural and mechanical markets rebounded due to rising gas prices and increasing durable goods production.
Through 2026, demand for pipe products in the US is forecast to increase 2.2% per year to $57.9 billion , equivalent to 12.9 billion linear feet. Growth in value terms is projected to decelerate significantly due mostly to the expectation that average prices of plastic and metal pipe will moderate going forward. However, volume gains will be driven by:
Pipes Products & Markets provides historical data (2011, 2016, and 2021) and forecasts for the years 2026, and 2031 for the following competitive pipe materials:
Also included are breakouts for pipe markets:
About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
Press Contact: Corinne Gangloff +1 440.842.2400 [email protected]
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