Players in HDPE Pipes Market Capitalize Opportunities as a Feasible Alternative to Steel Pipes, Valuation Projected to touch US$ 32.7 Bn by 2030, TMR
ALBANY, N.Y., May 6, 2021 /PRNewswire/ -- The rise in agricultural activities in densely populated countries like India and the increasing industrialization levels across many regions will serve as a vital growth generator for the HDPE pipes market during the tenure of 2020-2030.
High-density polyethylene (HDPE) pipes are flexible plastic pipes used for gas and fluid transfer. The strong molecular bond and the high impermeability level make it apt for high-pressure pipelines. Thus, these advantages bode well for the growth of the HDPE pipes market. The utilization of HDPE pipes in a wide number of applications will prove to be a vital growth generator.
The Transparency Market Research (TMR) analysts estimate the global HDPE pipes market to expand at a CAGR of ~6 percent during the assessment period of 2020-2030. The global HDPE pipes market is expected to be valued at US$ 32.7 bn by 2030.
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The escalating demand for pipeline infrastructure in oil and gas exploration activities is expected to bring immense growth prospects for the HDPE pipes market. The growing use of HDPE pipes in improving the wastewater treatment infrastructure will invite profitable growth. Furthermore, the advantages offered by HDPE pipes such as durability, sustainability, flexibility, chemical and corrosion resistance, and others will lay a red carpet of growth.
Key Findings of the Report
Constant Water Shortage Issues across Numerous Regions Proving Fruitful for the Growth of the HDPE Pipes Market
Water shortage issues are prevalent in many regions. To tackle the shortage and provide clean and safe water to remote areas, the government bodies of numerous countries are spending greatly on water infrastructure and wastewater treatment infrastructure. These aspects help in boosting the growth prospects of the HDPE pipes market to a considerable extent.
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Replacement of Aging Pipelines to Invite Substantial Growth for the HDPE Pipes Market
Pipelines, after a certain limit, reach the end of their capacity and serve as a hindrance in the supply mechanism. Upgrading the infrastructure of pipelines after a certain period is crucial for the smooth flow of supply. In addition, the replacement of metal pipes with HDPE pipes market due to their lightweight and robust properties will also serve as a prominent growth-generating factor.
Thriving Construction Sector to Multiply the Growth of the HDPE Pipes Market
The global population is increasing at a rapid rate and the rural-to-urban migration has also gained traction. These aspects are fuelling the growth of the construction sector. The emergence of many commercial and residential buildings has led to an increase in the demand for pipelines, which eventually assists in propelling the growth of the HDPE pipes market.
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Research and Development Activities Helping in Generating Revenues for the Players in the HDPE Pipes Market
The players in the HDPE pipes market invest massively in research and development activities. These activities help in discovering novel insights that add more features and enhance the quality of the pipes. These activities ultimately result in generating good revenues, which support the growth of the HDPE pipes market.
HDPE Pipes Market: Growth Restraints
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