The corrugated pipe market is anticipated to witness high growth owing to increasing construction activities globally. Corrugated pipes find widespread usage in drainage, sewerage, and irrigation applications due to their rigid design and cost-effectiveness. Made from materials like plastic, metal, and concrete, corrugated pipes provide strength and durability. Their flexibility and resistance to pressure make them suitable for underground drainage systems. With rapid urbanization driving infrastructure development, the need for efficient drainage solutions is rising. Furthermore, mechanized farming and emphasis on water conservation are fueling the adoption of corrugated pipes in agricultural practices.
The Global corrugated pipe market is estimated to be valued at US$ 25,049.1 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the corrugated pipe market are Pacific Corrugated Company, Bina Plastic Industries Sdn. Bhd, Jain Irrigation Systems Ltd., Fränkische Industrial Pipes Gmbh, Dura Life India, Contech Engineered Solutions LLC, JM Eagle Inc., Pars Ethylene Kish Co., Dutron, Jindal Plast, Crown Pipes, Shree Darshan Pipes, Jagannath Industries, Kuzeyboru, Mipa Industries. These players are focusing on expanding their product portfolio and global footprint through mergers & acquisitions.
The key opportunities in the market include rising investment in agriculture infrastructure development projects across major economies. Governments are undertaking initiatives to modernize irrigation systems and enhance water use efficiency. This is creating a conducive environment for corrugated pipe suppliers.
Global expansion remains a prime strategy for Corrugated Pipe Market Demand manufacturers. The companies are targeting high growth regions like Asia Pacific, Latin America, and Middle East & Africa to tap into opportunities in construction as well as agriculture sectors. Investments in production capacity expansion and distribution networks in emerging nations are on the rise.
Market Drivers
Growing construction spending on water supply and drainage projects is a key driver for the corrugated pipe market. Rapid urbanization and the need to provide proper sewage systems are prompting investments in pipe laying activities around the world. According to industry estimates, global construction output is forecast to increase 85% by 2030 from the 2021 level. This factors favor market growth.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
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