US plastic pipe and tubing market to grow at a CAGR of 2%

Press Release   •   Jul 27, 2012 12:27 BST

The US plastic pipe and tubing market was worth more than £9 billion in 2011 and is projected to reach nearly £10 billion by 2016, growing at a compound annual growth rate (CAGR) of 2%.

Since it was first learnt that fluids could be transported through hollow tubes, piping and tubing have become important parts of modern technology and lifestyles.

Over the years, many different materials have been and continue to be used for pipe and tubing. These include metals like iron, steel, copper and aluminum; inorganic materials like clay and concrete; and plastics.

The competition within the US plastic pipe and tubing market is more intense these days, with the current and rather poor economic situation and outlook for pipe markets in the US (and also much of the industrialised western world).

Many major cities still are suffering from commercial vacancy rates of 20% or more, and new construction often must wait until this backlog of space is occupied, modified for another use or razed/abandoned.

The building and construction segment by far accounts for most of the market, totalling £6.4 billion in 2011. This segment is expected to increase at a 2% CAGR and reach more than £7 billion in 2016.

The electrical and communications segment accounts for the next largest share of the US pipe and tubing market, totalling £1 billion in 2011. Increasing at a CAGR of 1.8%, this segment should be wort a total £1.1 billion by 2016.

For more information on the US plastic pipe and tubing market, see the latest research: US Plastic Pipe and Tubing Market Report

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