Stainless Steel Plumbing Pipes Market is Expected to Reach $8.1 Billion by 2030
WILMINGTON, DELAWARE, January 17, 2024 /EINPresswire.com/ — Rise in construction of malls and offices, surge in spending on home remodeling, and renovation of residential and non-residential bathrooms & toilets drive the global stainless steel plumbing pipes market. However, fluctuation in raw material prices and decrease in new construction activities in African nations hinder the market growth. On the contrary, infrastructural development in developing nations is expected to open new opportunities for the market players in the future.
The global stainless steel plumbing pipes market generated $4.92 billion in 2020, and is expected to reach $8.17 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.
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Stainless steel pipe is used in residential, commercial, and industrial areas for plumbing applications, owing to features such as long durable, corrosion resistant, rigid, robust, and flexible. It is highly effective pipe used for plumbing application and sanitary works. Stainless steel plumbing pipes are used in plumbing applications such as bathtubs, faucets, showerheads, and toilets.
Plumbing pipes used in kitchens, toilets or bathrooms in hotels, malls, offices, and public places are considered under the non-residential category. Renovation of old bathrooms and kitchens in residential and non-residential buildings and new construction projects is driving the stainless-steel plumbing pipes market.
In addition, rise in new residential and commercial construction buildings increases the sale of stainless steel plumbing pipes. Further, some of the renovation work is also done when houses, bungalows or flats are sold and the new owner wishes to redecorate the house.
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Manufacturers have recognized the market growth opportunity and have adopted several strategies such as new product launch, acquisition of companies, and business expansion to offer a wide range of products to customers and widen their product offerings in new regions, thereby driving the global stainless steel plumbing pipes market growth.
For instance, in November 2020, MASCO Corporation agreed to purchase a majority stake in the Dutch company Easy Sanitary Solutions (ESS) B.V. Easy Drain shower channels were invented, developed, and manufactured by ESS, which also offers a comprehensive variety of stainless steel pipes and bathroom wall specialty products.
Segments of This Research:
By Construction Type
Renovation
New Construction
By End User
Residential
Non-residential
By Application
Bathtubs
Faucets
Showerheads
Others
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Top Runners:
Geberit AG, Uponor Corporation, Mueller Industries Inc, Globe Union Industrial Corp., Jindal Stainless Limited, Steelmor Industries, Central States Industrial, Bradley Corporation, Reliance Worldwide Corporation Limited, Turnkey Industrial Pipe & Supply Inc
David Correa
Allied Analytics LLP
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January 17, 2024, 09:19 GMT
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