U.S. - Plastics Pipes And Pipe Fittings - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Plastic Pipe And Fitting Market in The U.S.: Construction Growth Supports Moderate Market Expansion
IndexBox has just published a new report "The U.S. - Plastic Pipe And Pipe Fitting - Market Analysis and Forecast to 2025". Here is a summary of the report's key findings.
The U.S. plastic pipe market totaled X tonnes in 2017, remaining relatively flat against the performance figures of the previous year. In terms of wholesale prices, the market totaled $X in 2017, also remaining relatively stable. The market value declined sharply in 2009, but then pursued a recovery over the next five years: this was largely due to the expansion of the residential and industrial construction sector, as well as the renovation of existing homes. The trend changed in 2015 when the market flattened and then stabilized. This can be explained by the slowdown in U.S. economic growth, against the global financial crisis, spurred by a drop in oil prices and increasingly stringent global trade conditions. In addition, the cutback in terms of active oil projects was also a factor: the fall in the oil price made them unprofitable.
Plastic Pipe And Fitting Imports Increase Gradually, But Still Is Far Below Domestic Production
In 2017, U.S. plastic pipe imports amounted to X tonnes in 2017 (IndexBox estimate), increasing robustly against the previous year. Prior to that, the volume of imports declined from 2008-2010; then imports recovered gradually through to 2017. In value terms, plastic pipe imports grew to $X in 2017, an increase of +X% against the previous year. Its trend pattern is relatively similar to that of imports in physical terms, given a relatively stable the price dynamic.
In 2017, Canada (X tonnes) was the main supplier of plastic pipe, comprising up to X% of U.S. imports in physical terms, followed by, lagging far behind, China (X%), Mexico (X%) and Germany (X%). Plastic pipe imports from Canada decreased noticeably from 2007 to 2010, but then recovered slightly and remained static throughout 2017 with relatively mild fluctuations being observed over the last six years. By contrast, supplies from China increased steadily by +X% per year over the period under review.
The share of imports in U.S. plastic pipe consumption stood at X% in 2017. Due to a low trade intensity, imports should not be regarded as a really strong factor influencing U.S. market dynamics in the medium term. The share of imports has been being relatively stable over the last decade which means imports are likely to be related to a long-term industry cooperation ties. There could be a certain risk from rising tensions with regard to international trade, particularly, possible re-negotiation of the NAFTA agreement. This could potentially hamper any import expansion from Canada and Mexico; as of now, the discussion is not likely to proceed with a damaging scenario, however, it still brings a degree of uncertainty.
The Market Is Projected To Expand Moderately Over The Next Decade, Along With The Overall Economy Growth
Plastic pipework systems are used primarily to convey drinking and wastewater, as well as chemicals, heating and cooling fluids, foodstuffs and vacuum system applications. Therefore, plastic tubes, pipes and fittings are widely used in the construction, agriculture and industrial sectors. The growth of a country's GDP, accordingly, acts as an overall indicator of the of the plastic pipe market trend dynamic.
Overall, the macroeconomic environment is favorable for the U.S. plastic pipe market, as the main economic indicators, such as employment, disposable income growth and construction improved against enhanced economic growth. GDP growth in the U.S. reached X% in the last year, supported by broad-based strength in domestic demand, particularly investment. According to the World Bank, the U.S economy will accelerate to +X% in 2018 and + X% in 2019. Rising employment and the increase in disposable household income, combined with access to loans and credit, will create a favourable environment for enhanced consumer spending, which will promote market growth.
In the medium term, rising construction in the U.S., against solid consumer spending and increasing industrial manufacturing, will remain the main factor to stimulate further market growth. The expansion of residential areas will lead to the establishment of drinking water and sanitation systems, which will also encourage the further growth of the plastic pipes market. Furthermore, current improvements in the oil industry will also contribute to plastic pipe market growth, as oil and gas and mining companies are now considering the increased use of special plastic pipework systems as a contemporary alternative to steel pipes, in a bid to enforce potential cost-cutting measures.
Driven by the rising demand for plastic pipe and pipe fittings in the U.S., the market is expected to see an upward consumption trend over the next eight year period. According to IndexBox, market performance is forecast to increase slightly, with an anticipated CAGR of +X% for the eight-year period from 2017 to 2025, which is projected to bring the market volume to X tonnes by the end of 2025.
Do you want to know more about plastic pipe and fitting market in the U.S.? Get the latest trends and insight from our report. It includes a wide range of statistics on:
- plastic pipe and fitting market share
- plastic pipe and fitting prices
- plastic pipe and fitting industry
- plastic pipe and fitting sales
- plastic pipe and fitting import
- plastic pipe and fitting export
- plastic pipe and fitting market forecast
- plastic pipe and fitting price forecast
- key plastic pipe and fitting producers
All data provided in this article covers the following products:
HS X - Ethylene Polymer Rigid Pipes
HS X - Propylene Polymer Rigid Pipes
HS X - Vinyl Chloride Polymer Rigid Pipes
HS X - Rigid Tubes, Pipes And Hoses, Of Other Polymers
HS X - Plastic Fittings For Tubes, Pipes and Hoses
Source: IndexBox AI Platform
This report provides an in-depth analysis of the market for plastics pipe and pipe fitting in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
Webinar: Global Animal Feed Market - Global Outlook & Insights
Join our live webinar to get insights into the global animal feed market.
Thursday, December 10th, 2020 @ 10:00 am ET