Lucintel's latest market report analyzed that industrial pipe provides attractive opportunities in power generation, petrochemical, automotive, and industrial processing. The industrial pipe market is expected to reach $21.7 billion by 2028 with a CAGR of 3.2%. In this market, steel pipe is the largest segment by material, whereas petrochemical is largest by technology. Increasing use of premium and technically advanced pipe and increasing focus on pipe strength and durability provides strategic growth path in this market.
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Based on material, the industrial pipe market is segmented into steel pipe, ductile iron pipe, plastic pipe, fiberglass reinforced pipe, and others. The steel pipe segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to increasing demand for steel pipes in power generation and petrochemical industries. Lucintel predicts that the plastic pipe material segment will witness the highest growth during the forecast period because of low cost, light weight and corrosion resistant.
Browse in-depth TOC on “Industrial Pipe Market”
109 – Tables
139 – Figures
261 – Pages
The Industrial Pipe Market is marked by the presence of several big and small players. Some of the prominent players offering industrial pipe include Vallourec SA, TMK Group, Tenaris SA, China LESSO Group Holdings Limited, ArcelorMittal S.A., Orbia, Sekisui Chemical Co. Ltd., Advanced Drainage Systems, Inc., Saudi Arabian Amiantit Company, Northwest Pipe Company, and Future Pipe Industries.
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