Copper Pipes and Tubes Market Outlook
According to a new report by Expert Market Research titled “Global Copper Pipes and Tubes Market Size, Share, Price, Analysis, Report, Demand, Forecast 2023-2028″, the global copper pipes and tubes market is projected to grow at a CAGR of 3% between 2023 and 2028. Aided by increasing demand for copper pipes and tubes in plumbing applications and rise in sales of electric vehicles and hybrid vehicles, the market is expected to grow significantly by 2028.
Copper pipes and tubes are known for their long-standing applications in water supply infrastructure, due to their resilience, corrosion resistance, and microbial growth deterrent properties. Moreover, copper’s superior thermal conductivity makes it the material of choice in the HVAC (Heating, Ventilation, and Air Conditioning) sector, as well as in refrigeration units.
A key driver for the copper pipes and tubes market growth is the burgeoning construction industry globally. As urbanisation progresses, there’s an amplified demand for residential and commercial spaces, all of which necessitate plumbing and HVAC installations. Copper, given its intrinsic qualities, is often the preferred material in these applications, thereby cementing its relevance in the modern construction domain.
The copper pipes and tubes market size is likely to grow due to its diverse applications, that go beyond construction. These products find use in the automobile, electrical, and shipbuilding industries. The consistent demand from these sectors further amplifies the growth trajectory for the market.
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A noticeable trend strengthening the copper pipes and tubes market demand is the increasing consumer awareness regarding quality plumbing solutions. With the acknowledgment of the drawbacks of alternatives like PVC, which can leach toxic compounds into water, consumers are opting for copper pipes that offer improved safety and longevity.
The HVAC sector’s expansion, spurred by the escalating need of temperature control in both residential and commercial spaces, also augments the demand for copper pipes and tubes. The material’s inherent ability to efficiently transfer heat ensures its pivotal role in heat exchangers and cooling systems.
The copper pipes and tubes market analysis also highlights the impact of rapid adoption of green and sustainable building practices worldwide. Given that copper is recyclable, it aligns well with sustainable construction methods, presenting yet another growth avenue for the market.
As infrastructure development continues on an upward trajectory and as industries strive for durable and efficient materials, copper pipes and tubes are expected to remain at the forefront. In the coming years, their demand will be intricately linked with global development goals, ensuring their relevance in a future defined by sustainability and efficiency.
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Copper Pipes and Tubes Market Segmentation
The market can be divided based on finish type, outer diameter, end use, and region.
Market Breakup by Finish Type
- LWC Grooved
- Straight Length
- LWC Plain
Market Breakup by Outer Diameter
- 3/8, 1/2, 5/8 Inch
- 3/4, 7/8, 1 Inch
- Above 1 Inch
Market Breakup by End Use
- Industrial Heat Exchanger
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the copper pipes and tubes market. Some of the major players explored in the report by Expert Market Research are as follows:
- Furukawa Electric Co., Ltd
- KME GERMANY GMBH
- Kobe Steel, Ltd.
- Viown Mettube Pvt. Ltd
- Mueller Industry
- Kobelco & Materials Copper Tube Co., Ltd.
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