Single walled corrugated pipes refers to high-density polyethylene sheathing ducts that are mainly utilized as sheathing ducts for internal bonding following tensioning and is utilized for projects like offshore platforms, bridges, and flyovers. The global single wall corrugated pipe market is estimated to witness considerable growth due to its widening scope of application in the forthcoming years.
Every single manufacturing unit needs piping for moving raw materials to the processor and the end products from the processor to the storage container. In addition, various other systems such as agricultural and irrigation processes, infrastructure and construction businesses, drainage system, and sewer system need piping system. As rapid urbanization takes place in the developing parts of the world, it is estimated that the global single wall corrugated pipe market is likely to experience considerable growth over the period of analysis, from 2019 to 2029.
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Several countries across the globe are faced with lockdown situation amidst the spread of global pandemic, COVID-19. Lockdown in several countries have put several businesses at a standstill. Agricultural and construction businesses have slowed down considerably, which has slowed the pace of economic development. These factors have reduced the demand for single walled corrugated pipes across all parts of the world. However, it is estimated that once the pandemic phase gets over, lockdowns are lifted, economic activities will return to normal. This is likely to propel growth of the global single wall corrugated pipe market in the years to come.
Rapid Urbanization and Growth in Agriculture Industry Bolster Demand in the Market
Single wall corrugated pipes are found in two different types, namely metal and plastic. In most of the applications, plastic is always preferred to metal as metal pipes come with the risk of rusting or corrosion. However, some of the applications only require metal piping, for instance movement of a certain material at specific parameters. Growing popularity of wireless connections together with transformation of the entire telecom sector is likely to act as a setback for the global single wall corrugated pipe market in the years to come.
The global single wall corrugated pipe market is likely to be driven by growth of the agricultural sector and subsequent rise in the demand for irrigational and construction activities. Furthermore, Urbanization together with increased outreach programs by government facilities in the rural areas is likely to play a positive role in the growth of the global single wall corrugated pipe market in the years to come.
On the other hand, high cost and maintenance are estimated to impede the expansion of the global single wall corrugated pipe market in the near future.
Booming Construction Industry to Boost North America Market
In the global single wall corrugated pipe market, North America is estimated to emerge as one of the leading regions and is estimated retain its regional supremacy over the tenure of analysis. Prospering construction industry in the North America region is anticipated to add to the growth of the single wall corrugated pipe market in the region.
Europe is prophesized to exhibit substantial growth over the time-period of analysis due to increased demand of these pipes from the agriculture and construction sectors. India, Japan, and China play an important role in driving the Asia Pacific single wall corrugated pipe market. Booming construction and agricultural sectors in countries like India and China are prophesized to amplify growth opportunities of the market in the years to come. In addition, booming chemical industries together with rapid urbanization in the region is likely to open up avenues of growth for the regional market in the years to come.
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Prominent Players to Dominate the Market over the Forecast Period
Some of the prominent industry players profiled in the global single wall corrugated pipe market comprise Frankische Rohrwerke Gebr. Kirchner GmbH & Co.KG, The Schlemmer Group, Corma Inc., Murrplastik Systems, Inc., Schlemmer Holding GmbH, and Pars Ethylene Kish Co.. These players are focusing on expanding their manufacturing capacity and launching new, innovative products in a bid to gain a competitive advantage. Various strategic moves, such as partnerships and acquisitions and mergers are likely to pave way for the growth of the market.