Southeast Asia Pipes Market Size, Share & Trends Analysis Report By Product, By Application (Plumbing, Drainage/Sanitary, HVAC), By End-use (Residential, Commercial), By Country, And Segment Forecasts, 2020 - 2028
New York, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Southeast Asia Pipes Market Size, Share & Trends Analysis Report By Product, By Application, By End-use, By Country And Segment Forecasts, 2020 - 2028" - https://www.reportlinker.com/p06134863/?utm_source=GNW
Southeast Asia Pipes Market Growth & Trends
The Southeast Asia pipes market size is expected to reach USD 24.8 billion by 2028. The market is expected to expand at a CAGR of 3.3% from 2020 to 2028. Growing investments towards infrastructure development and the use of the product in construction refurbishment are factors expected to drive industry growth over the forecast period.
Factors such as changes in raw material prices, stringent government regulations regarding industrial processes, policies related to the environment, and sustainability of the products are likely to have an impact on the profit margins of the product manufacturers. Investors are highly exposed to long-term risks due to possible disruptions in the demand for raw materials, oil price fluctuations in the global market.
The COVID 19 pandemic has severely impacted the growth of the market in the region.Lockdown measures to curb the spread of the virus in several countries along with the disruption of the global supply chain have impacted the majority of industries including construction, food, and chemical processing.
Moreover, complexities in the supply chain also caused a shortage in raw materials supply for the production of pipes.
Southeast Asia Pipes Market Report Highlights
• The polypropylene pipes segment accounted for revenue share valued at USD 4.5 billion in 2020 on account of their superior chemical resistance and lower thermal conductivity, which prompts their usage in the HVAC, and drainage systems
• The plumbing application segment is expected to register a sales revenue of USD 5.6 billion by 2028 due to the growth of the residential and commercial construction in the region owing to the rising adoption of ‘China plus one’ strategy by the major industry players
• The commercial sector accounted for a revenue share of 72.8% in 2020 due to high consumption of the product in water supply infrastructure, hospitals, and industrial facilities
• In Vietnam, the market is expected to witness a CAGR of 4.0% from 2020 to 2028 on account of rising investments for the development of drainage and sewage systems in the country driven by plans such as the Trenchless Sewerage Pipe Rehabilitation
• Manufacturers focus on the production of new products for strengthening their market position. For instance, in March 2021, Wavin has launched its advanced low-noise pipe system, Wavin AS+ in Indonesia, which is currently witnessing significant urbanization and infrastructure development
Read the full report: https://www.reportlinker.com/p06134863/?utm_source=GNW
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