The global plastic tube industry will see double-digit growth over the next decade
The global plastic tube industry will see double-digit growth over the next decade
The plastic pipeline industry is expected to grow in double digits over the next decade, with global sales of plastic pipe manufacturers and related suppliers estimated to reach $500 billion by 2024.
The positive outlook is largely driven by four factors: shale oil and shale gas development, regional market expansion, innovation, and heightened awareness of the life cycle of plastic pipes.
This was the view of Stephen Boros, vice President of engineering at Pipeline Plastics LLC, at the 17th international plastic piping conference in Chicago last month.
According to the President of the general assembly, Boros, the plastic tube has been replacing other competing materials, such as copper pipes, concrete pipes and steel pipes, with low cost installations and long-term performance. The conference attracted 470 guests from 34 countries.
China's plastic pipe industry is currently experiencing the fastest growth, and the Asian plastic pipe industry conference will be held in Shanghai in September 2015.
"Last year China became the world's largest producer and consumer of plastic tubes," Boros said. "While we can expect as the construction market recovery, the market will maintain double-digit growth, but we also are expected to maintain the same growth in Asia, eastern Europe will also join the growth eventually team."
He also cited innovations in environmental impact, such as horticultural applications and water management solutions, to mitigate flooding and drought, and could change the image of plastic pipe technology.
Boros said: "the multi-use of plastic and the creative ideas that humans share to improve the earth's environment are endless. Unlike the competitive pipe industry, the world's big plastic pipe makers often spend more than 10 percent on r&d.
Said gabe Boros, along with the shale oil and gas development lead to improvements in raw material supply security and the new study suggests that plastic pipe with sustainability in the life cycle, will form the scale and scope of the industry.
