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HDPE pipe market set for growth

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World Pipelines,

Research and Markets has welcomed its new ‘Global HDPE Pipes Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2014 - 2024’ report.

The report predicts that the global high density polyethylene (HDPE) pipes market will reach US$19.7 billion by 2024, expanding at a compound annual growth rate of 4.7% during the forecast period of 2016 - 2024.

The HDPE pipes market is set to witness substantial growth with increasing application of HDPE pipes in various end use industries. HDPE pipes are polyethylene thermoplastic pipes that can be used to transit gas and other products. They are cost-effective, lightweight, corrosion resistant and recyclable and are, therefore, often seen as an alternative to various traditional metal pipes.

HDPE pipes are used for the transportation of oil and gas products, which is expected to fuel the demand for HDPE pipes over the forecast period. However, volatile raw material prices owing to fluctuation in prices of crude oil along with stringent regulation regarding recycling and disposal of plastic products is expected to hamper the growth of HDPE pipes market during the forecast period.

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