According to a new market report published by Lucintel, the future of the industrial pipe market looks promising with opportunities in power generation, petrochemical, automotive, and industrial processing. The industrial pipe market is expected to reach an estimated $22.3 billion by 2024 with a CAGR of 2.5% from 2019 to 2024. The major growth drivers for this market are increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.
In this market, steel, ductile iron, plastic, and fiberglass reinforced plastics (FRP) materials are used for pipe manufacturing for various end use industries. On the basis of comprehensive research, Lucintel forecasts that the steel pipe is expected to remain the largest material segment over 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.
Within the industrial pipe market, petrochemical will remain the largest end use industry during the forecast period due to increasing investments in new ventures and up-gradation of petrochemical facilities.


Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing infrastructure development, urbanization and government economic stimulus measures in this region.
Emerging trends which have a direct impact on the dynamics of the industry include increasing use of dopeless technology in pipe manufacturing to reduce operational risk and development of multilayer pipe to increase strength and durability. Vallourec, TMK, Tenaris, China Lesso, ArcelorMittal, Mexichem, Sekisui Chemicals, Advanced Drainage System, Amiantit, and Future Pipe are among the major suppliers of industrial pipes.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the industrial pipe market by end use industry, material, diameter, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Industrial Pipe Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the industrial pipe market by end use industry, material, diameter, and region, as follows:

By End Use Industry [Value ($M) from 2013 to 2024]:
• Power Generation
• Petrochemical
• Automotive
• Industrial Processing
• Others
By Material [Value ($ Million) and Volume (Thousand Tons) from 2013 to 2024]:
• Steel Pipes
• Ductile Iron Pipes
• Plastic Pipes
• FRP Pipes
• Other Pipes

By Diameter [Value ($ Million) from 2013 to 2024]:
• Small Diameter Pipes
• Medium Diameter Pipes
• Large Diameter Pipes
By Region [Value ($ Million) from 2013 to 2024]:
• North America
− US
− Canada
− Mexico
• Europe
− United Kingdom
− Germany
• APAC
− China
− Japan
− India
• ROW
− Brazil
− Middle East
This 245-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or [email protected].



About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high growth opportunities for the industrial pipe market by end use industry (power generation, petrochemical, automotive, industrial processing plant, and others), material (steel, ductile iron, plastic, fiberglass reinforced (FRP), and others), diameter (small diameter pipes up to 15 inches, medium diameter pipes from 15 to 30 inches, and large diameter pipes of 30 inches and above), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which products segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being initiated by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?