Plastic Pipes Market Size

Plastic Pipe Market size was valued at USD 55.9 Billion in 2023 and is projected to cross USD 129.5 Billion by the end of 2036, expanding at more than 7.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of plastic pipe is assessed at USD 62.45 Billion.

The market is driven by the increasing utilization of plastic pipes across various sectors, including pipeline, and construction projects. Pipelines are used universally for the transportation of oil, water, or diesel over long distances.  A 2022 study by the Observatory of Economic Complexity stated the global trade of petroleum oils, and oils procured from bituminous minerals reached a total of USD 1.45 trillion in 2022.  Therefore, increasing application of plastic pipes in pipelines, and construction projects is predicted to boost market expansion in the upcoming years.