CORRUGATED PIPE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The volatility and fluctuation in prices of raw materials is significantly impacting the growth of the global corrugated pipe market. Corrugated pipes are made from materials like steel, aluminum, plastic and clay, and the prices of these raw materials are subjected to constant fluctuations depending on various global economic and geopolitical factors. For instance, steel is the most widely used raw material for manufacturing corrugated metal pipes. However, steel prices have witnessed huge volatility in recent years. According to the World Steel Association data, the international steel price index increased by over 50% between 2020 to 2021 due to disruptions caused by the COVID-19 pandemic along with high demand and low inventory levels. Similarly, aluminum prices also rose by about 40% during the same period influenced by factors like high energy costs, sanctions on major producers and supply chain disruptions.

Market Opportunities: Untapped emerging economies

Emerging economies in Asia and Africa present a huge untapped potential for growth in the global corrugated pipe market. These regions are witnessing massive infrastructure development as governments are focused on building roads, rail networks, access to clean water and sanitation systems. Countries like India, Bangladesh, Indonesia and nations in sub-Saharan Africa have a large young population with rising income levels and migration to urban centers. There is a growing need for sustainable and affordable piping solutions to develop basic infrastructure in crowded cities and rural interiors.