Polyethylene Pipes Market is Expected to Reach the Value CAGR 6.35% of During the Forecast Period 2022-2029

 Over the last few years, there has been increse in spending on wastewater treatment and water infrastructure. For instance, according to the Pengurusan Aset Air Berhad (PAAB), Johor (Malaysia) has installed an additional 224.6 MLD of treated water capacity which is at least 25% compared to treated water capacity in 2012. In order to fulfil the increasing demand for treated water capacity from the growing population and state economy, Johor will witness an overall rise in treated water capacity of 626.4 MLD by 2022, with an extra 61.8 MLD being built. The booming irrigation industry and ageing water infrastructure largely enhance the growth of the polyethylene pipes market.Polyethylene is a thermoplastic material which is produced by the polymerization of ethylene. Polyethylene pipes is formed by extrusion in sizes ranging from ½" to 63". Polyethylene exists in rolled coils of numerous lengths and straight lengths up to 40 feet. Commonly large diameters (>6" OD) are in straight lengths and small diameters are coiled. Polyethylene pipes are available in numerous varieties of wall thicknesses.Significant investments for residential construction activities create numerous profitable opportunities for the market growth for the major market players during the forecast period of 2023 to 2030. For instance, per the report of U.S. Census Bureau, the value of construction put in place in non-residential and residential construction grew to $470,986 million and $567,555 million in January 2020 from $466,436 million and $546,532 million in December 2019, respectively.The price of raw materials and their availability in the market are significant factors of the cost of finished goods. The volatility in price of raw materials, which are changing as a result of unstable energy prices, pose the biggest challenge to the growth of the global polyethylene pipes market. Moreover, crude oil is completely responsible for the production of polyethylene raw materials. The volatility in the price of crude oil has grown recently, For instance, as per the BP's Statistical Review of World Energy., the price of crude oil dropped from $98.95 in 2014 to $52.39 in 2015 and increased from $43.73 in 2016 to $71.31 in 2018. Subsequently, the fluctuations of the costs of raw materials is limiting the growth of the market.

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