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

Market Size and Trends

Global corrugated pipe market is estimated to be valued at USD 16,549.5 Mn in 2024 and is expected to reach USD 25,049.1 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.

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Global corrugated pipe market growth is driven by increasing investments in wastewater management and transportation infrastructure projects across both developing and developed economies worldwide. Global corrugated pipe market trend shows growing demand for sustainable infrastructure materials. Modern corrugated pipes made from steel and plastic offer increased durability and lifespan as compared to traditional materials. Plastic corrugated pipes are gaining popularity due to their light weight and resistance to corrosion. Developments in pipe joining technology further improve pipe installation efficiency.

Growing infrastructure development worldwide

Global corrugated pipe market is expected to witness significant growth in the near future due to rising infrastructure development activities globally. There has been a major focus on developing roads, highways, transportation systems and utility networks to enhance connectivity and cater to the needs of steadily growing populations. Both developed as well as developing economies are channelizing massive investments towards bridging their infrastructure gaps. Countries are recognizing infrastructure as a key priority area to boost economic growth. Mega projects related to highways, rail networks, bridges, airports, water supply systems, and others are being undertaken. Rapid urbanization also boosts need for stronger infrastructure to support new residential and commercial construction. Governments are launching ambitious initiatives such as building smart cities with advanced infrastructure backbone. Multilateral development banks and private equity players have ramped up funding for infrastructure ventures across regions. These extensive infrastructure expansion plans involve laying extensive pipeline networks for transporting water, gas, oil and other chemicals. Corrugated pipes have established themselves as the material of choice for pipeline applications due to their key advantages over other alternatives. Their flexible structure and jointing technology allow them to be easily installed along roads, inside buildings and across challenging terrains. Corrugated pipes can withstand heavy loads and pressures without compromising on delivery and quality over long periods of time. The infrastructure boom underway is bound to exponentially increase demand for reliable piping solutions. Corrugated pipes are quite suitable for large infrastructure projects due to their cost effectiveness, robustness and ease of installation even in difficult areas. With construction activities projected to rise aggressively across both developed and emerging economies, the corrugated pipe market is expected to witness growth in the near future.

Market Concentration and Competitive Landscape

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Rapid urbanization driving needs for utility distribution networks

Rapid urbanization can drive the global corrugated pipe market growth. There is large scale migration of people from rural to urban centres in search of better livelihood opportunities and superior quality of life. As per estimates, about 68% of the world population is expected to live in urban concentrations by 2050 as compared to 56% in 2018.  This puts tremendous pressure on cities to expand their infrastructure and build new townships to accommodate burgeoning populations.

Key Takeaways from Analyst:

Global corrugated pipe market is expected to witness steady growth over the forecast period due to increasing investments in infrastructure development globally. There has been huge demand for corrugated pipes from industries such as construction, agriculture, and wastewater treatment.

Availability of alternatives such as concrete pipes and plastic pipes can hinder the market growth.  Fluctuating raw material prices can pose a major challenge for manufacturers.  Developing lightweight and eco-friendly corrugated pipe variants made from recycled plastics and renewable materials can offer opportunities for the market players. Asia Pacific presently dominates the global market and is anticipated to continue its leadership during the forecast years due to increasing construction activities in China and India. Meanwhile, Middle East and Latin America are projected to emerge as high potential markets for corrugated pipes over the coming years.

In order to remain competitive, companies should focus on expanding their footprint in developing nations through strategic collaborations with local players.

Market Challenges: Volatility in raw material prices

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.

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Insights, By Type: PVC Piping's Dominance

In terms of type, PVC corrugated pipes segment is estimated to contribute the 36.7% share of the market in 2024, due to its excellent chemical and corrosion resistance properties. PVC pipes have exceptional longevity even in harsh and challenging soil and water conditions. Their non-porous nature ensures zero water leakage and 100% impermeability against soil acids and bases. This integrity holds up even after decades of use, lowering lifetime maintenance costs for users. The inert properties of PVC also make it extremely safe for conveying potable water without leaching out any harmful chemicals or contaminants. This has increased its acceptability for agricultural, industrial and municipal water supply projects. PVC is lightweight and easier to cut, join and install as compared to its metallic counterparts. PVC pipes are also fully recyclable at the end of their lifespan, earning them high sustainability credentials. This environmental friendliness, along with regulatory support for 'green' construction materials has boosted demand for PVC corrugated pipes. Their customizable sizes and flexibility also simplify engineering of drainage layouts for varied projects. Ongoing developments to enhance PVC pipe rigidity and pressure handling abilities are expected to further increase PVC corrugated pipes’ application scope.

Insights, By Applications: Agricultural Drainage Leads the Way

Among applications, agriculture & horticulture drainage segment is estimated to contribute the 35.7% share of the market in 2024, due to its critically important role in agriculture. Proper drainage is essential to maximize crop yields by managing excess water and preventing waterlogging of fields. It also controls soil erosion. Corrugated pipes are increasingly favored over traditional drainage materials like bricks or concrete due to their lightweight, flexible nature and hassle-free installation process. These pipes can be installed deep even in hard soil strata to facilitate sub-surface drainage. Their corrosion resistance holds up well to agricultural chemicals and fertilizers used in fields.  With growing global population and rising demand for food, extensive irrigation and drainage projects are being undertaken worldwide to optimize agricultural productivity from available land. Corrugated pipes enable cost-effective expansion of farmlands into new marginal areas with unfavorable soil texture or topography earlier deemed unfit for agriculture. This is expected to drive the agriculture & horticulture drainage segment in the near future.

Regional Insights

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North America has established itself as the dominant region in the global corrugated pipe market. With the U.S. being the key market, North America is estimated to account for 35.8% of the market share in 2024 due to, the region’s large construction industry and developed infrastructure across various sectors such as water supply, sewage & drainage, and transportation. Major players from the U.S. such as Advanced Drainage Systems and Fortune Products dominate the regional as well as global markets through continuous innovation in product development and operational efficiencies. North America is also a major exporter of corrugated steel pipes globally. Several American manufacturers supply to countries in Latin America, Europe and the Asia Pacific region. The prices of corrugated pipes from North America are highly competitive owing to economies of scale achieved by top firms. The region is known for its rigorous quality standards which makes its corrugated pipes preferable for large infrastructure projects across the world.

While North America leads the market currently, the fastest growth in the corrugated pipe market is witnessed in the Asia Pacific region. Rapid urbanization and industrial development have boosted infrastructural activities in countries such as China, India and South East Asian nations. This has accelerated the demand for corrugated pipes from various end-use industries. All major global players have established production facilities or are planning new investments in the Asia Pacific to tap into the massive future opportunities in the region.

Market Report Scope

Key Developments

• In April 2024, Ameritex Pipe & Products entered corrugated plastic pipe market
• In 2020, Molecor expanded its range of Oriented PVC Pipes by launching the DN1000 mm diameter TOM pipe
• In 2021, Vinidex launches sustainable stormwater drainage pipe system
• In 2021, Pacific Corrugated Pipe Company, a manufacturer and distributor of stormwater management and construction products, announced the successful acquisition of its operations by Lane Enterprises

*Definition: The corrugated pipe market consists of companies that manufacture corrugated pipes for drainage, sewerage, infrastructure development and agricultural applications. Corrugated metal pipes are made from galvanized steel or aluminum and they have an inner and outer metal lining separated by annular space providing strength and flexibility. These pipes are used for drainage of surface run-off from buildings, highways and other infrastructure projects as these are rust resistant, lightweight and able to withstand pressure load.

Market Segmentation

• Type Insights (Revenue, USD Mn, 2019 - 2031)
  • Polyethylene (PE) Corrugated Pipes
  • Polypropylene (PP) Corrugated Pipes
  • PVC Corrugated Pipes
  • HDPE Corrugated Pipes
  • Others
•  Applications Insights (Revenue, USD Mn, 2019 - 2031)
  • Agriculture & Horticulture Drainage
  • Road & Highways Drainage
  • Structural Drainage & Culverts
  • Sewerage & Waste Water Systems
  • Others
• Regional Insights (Revenue, USD Mn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • Pacific Corrugated Company
  • Bina Plastic Industries Sdn. Bhd
  • Jain Irrigation Systems Ltd.
  • Fränkische Industrial Pipes Gmbh
  • Dura Life India
  • Contech Engineered Solutions LLC
  • JM Eagle Inc.
  • Pars Ethylene Kish Co.
  • Dutron
  • Jindal Plast
  • Crown Pipes
  • Shree Darshan Pipes
  • Jagannath Industries
  • Kuzeyboru
  • Mipa Industries