CLEVELAND, Feb. 19, 2021 /PRNewswire/ — According to the new study Global Polyethylene Pipe, from The Freedonia Group, demand for polyethylene pipe in China totaled 4.2 million metric tons in 2019, making it by far the world’s largest market with 33% of global demand and 59% of regional sales:
- China possesses massive agriculture, construction, manufacturing, oil and gas, and utility sectors, all of which support plastic pipe demand.
- China’s diverse process manufacturing industry – including chemicals, food processing, primary metals, pulp and paper, and textiles – further supports sales.
China’s construction sector is nearly four times the size of that of the US, the next largest national market, with its sales of polyethylene pipe around three times larger within that market. China’s infrastructure investment continues to make great strides, with product sales relative to population nearly double the global average. Nevertheless, the US remains a more intensive user of plastic pipe on a per capita basis across many applications.
Globally, demand for polyethylene pipe is projected to grow 3.7% per year to 15.3 million metric tons in 2024, driven by increasing use of PE pipe across all markets. HDPE pipe demand will record healthy growth on average through 2024 as pipe made from this resin is favored over other materials in water and sewer applications.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group