According to a new market report published by Lucintel, the future of global small diameter pipe market looks good with opportunities in potable water and wastewater pipe, oil and gas, and industrial pipe segments. The global small diameter pipe market is expected to reach an estimated $103.8 billion by 2021 and it is forecast to grow at a CAGR of 3.2% from 2016 to 2021. The major drivers for market growth are increasing urban population, construction and infrastructure development, and recovery in oil and gas industry.
In this market, metal, plastic, and concrete materials are used in the manufacturing of small diameter pipe for different applications. On the basis of comprehensive research, Lucintel forecasts that plastic pipe segment is expected to show above average growth during the forecast period.
Within the global small diameter pipe market, the metal pipe segment is expected to remain the largest segment by value and by volume. High strength, rigidity, and pressure tolerance in expanding oil and gas, water, and wastewater pipe applications are the major driving forces that would spur growth for this segment over the forecast period.
APAC is expected to remain the largest market and is expected to witness highest growth rate during the forecast period due to infrastructure development, and construction of new pipelines.
For business expansion, Lucintel’s report suggests innovation and new product development which are easy to install and have low maintenance and high quality.
Emerging trends which have a direct impact on the dynamics of the industry include the increasing use of premium and technically advanced with high efficient small diameter pipes and development of multilayer material in small diameter pipes. United States Steel Corp., Tenaris SA, Vallourec SA, OAO TMK, and ArcelorMittal SA are among the major suppliers of small diameter pipe.