The global Corrugated Pipe Market is estimated to be valued at US$ 25,049.1 million in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period from 2024 to 2031. Corrugated pipes are circumferentially corrugated pipes made from PVC, HDPE, LDPE, PP, and polycarbonate materials. These pipes are flexible, easy to install, and provide for drainage, sewage systems, culverts, and tunnels. Corrugated pipes offer various advantages such as flexibility that allows for easy installation along curved paths, high strength, resistance to harsh conditions, durability, and cost-effectiveness. Growing investments in infrastructure development projects is leading to increasing demand for efficient drainage systems, which is driving the demand for corrugated pipes globally.
The Global Corrugated Pipe Market is estimated to be valued at US$ 25,049.1 million in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period from 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.
Growing infrastructure development projects across the globe is driving the demand for efficient drainage and sewage systems. Rapid urbanization is placing strain on existing infrastructure and boosting investments to develop new projects.
Major players in the market are focusing on tapping growth opportunities in emerging economies of Asia Pacific and Middle East & Africa by partnering with local players and enhancing production capacities to cater to the rising demand.
Market Key Trends
Increasing adoption of recycled and permeable corrugated pipes is one of the key trends being observed in the market. Recycled plastic corrugated pipes offer significant savings on raw material and production costs while also reducing environmental impact. Similarly, permeable corrugated pipes are increasingly being adopted for sustainable stormwater drainage management as they allow for infiltration of rainwater runoff into the soil.
The growing emphasis on sustainable infrastructure is promoting the uptake of recycled and permeable Corrugated Pipe Market Demand varieties among construction contractors and municipal authorities. Stringent environmental regulations in regions such as Europe are further driving replacements of conventional pipes with eco-friendly alternatives.
Porter’s Analysis
Threat of new entrants: Low capital requirements and availability of raw materials pose a low threat for new players to enter the market. However, established players have strong brand names and distribution networks.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and fragmented nature of suppliers.
Bargaining power of suppliers: Suppliers have moderate to low bargaining power due to availability of raw materials from different regions and suppliers.
Threat of new substitutes: Plastic and FRP pipes pose low threat of substitution due to durability and protective properties of corrugated pipes.
Competitive rivalry: The market has many regional and international players leading to moderate to high competitive rivalry.
North America holds the major share in corrugated pipe market in terms of value owing to high infrastructure spending and replacement of ageing pipeline networks. It is estimated that North America accounts for over 35% of the global market value.
Asia Pacific region is expected to be the fastest growing market for corrugated pipes during the forecast period. This is attributed to ongoing infrastructure development projects and growth of agricultural sector in developing economies such as India and China. Replacement of conventional materials with corrugated pipes also propels the market growth in Asia Pacific.