Report : Asia Pacific Corrugated Pipe Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Single Wall Corrugated and Double Wall Corrugated), Product (Metal Corrugated Pipe and Plastic Corrugated Pipe), and Application (Power Cable Conduit and Telecom Cable Duct, Drainage and Sewerage Lines, and Building and Construction)
Plastic Corrugated Pipe Segment to Dominate Asia Pacific Corrugated Pipe Market during 2021-2028
According to a new market research study on “Asia Pacific Corrugated Pipe Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Product, Application and Country,” is expected to reach US$ 13,026.36 million by 2028 from US$ 8,060.33 million in 2021. The market is estimated to grow at a CAGR of 7.1% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific corrugated pipe market along with the drivers and restraints pertaining to the market growth. Increased use of corrugated pipe in drainage systems and suitability in wide range of applications are major factors driving the growth of the Asia Pacific corrugated pipe market. However, fluctuations in prices of raw materials may hinder the growth of Asia Pacific corrugated pipe market.
In Asia Pacific, India reported a huge number of COVID-19 cases, which led to the discontinuation of several business operations, including corrugated pipe manufacturing activities. The disruptions in production and supply chain have had a negative impact on the corrugated pipe market in the early 2021. However, the monitoring and managing of wastewater have become more important in the pandemic and the treatment of waste management including medical, household, and other hazardous waste, as an urgent and essential public service to minimize possible secondary impacts on health and the environment. With cases rising in many parts of the developing region, there has been an increased focus to take an integrated approach to waste management that focuses on recycling and reducing waste. Governments of various countries are focusing on wastewater segregation, which sees black water, gray water and water laden with toxic chemicals siphoned off into separate municipal streams. This, focus on wastewater management is positively affecting the corrugated pipe market growth.
The market for Asia Pacific corrugated pipe is segmented into type, product, application and country. Based on type, the market is segmented into single wall corrugated, and double wall corrugated. In 2020, the double wall corrugated segment held the largest share in Asia Pacific corrugated pipe market. Based on product, the Asia Pacific corrugated pipe market is divided into metal corrugated pipe, and plastic corrugated pipe. The plastic corrugated pipe segment is expected to be the fastest growing segment over the forecast period. Based on application, the market is segmented into drainage & sewerage lines, power cable conduit & telecom cable ducts, and building & construction. In 2020, the drainage & sewerage lines segment held the largest share in Asia Pacific corrugated pipe market. Based on country, the Asia Pacific corrugated pipe market is divided into Australia, China, India, Japan, South Korea and rest of Asia Pacific. In 2020, China held the largest share in Asia Pacific corrugated pipe market. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific corrugated pipe market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for corrugated pipe.
Advanced Drainage Systems; Bina Plastic Industries Sdn Bhd; Jain Irrigation Systems Ltd.; Dura Life India; Fränkische Industrial Pipes GmbH & Co. KG and Pars Ethylene Kish Co. are some of the leading companies in the Asia Pacific corrugated pipe market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.