Increasing spending on home remodeling is driving the stainless steel plumbing pipe market
PORTLAND, OR, UNITED STATES, May 11, 2023 /EINPresswire.com/ — Stainless steel tubing is used in residential, commercial and industrial plumbing applications due to its properties of long durability, corrosion resistance, rigidity, toughness and longevity. and flexible. It is a highly effective pipe used for plumbing applications and plumbing work. Stainless Steel Sanitary Pipe is used in plumbing applications such as bathtubs, faucets, shower heads and toilets.
According to the report published by Allied Market Research, the global stainless steel sanitary tubing market generated US$4.92 billion in 2020 and is expected to reach US$8.17 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.
Download a sample PDF with more insight (211 pages) at https://www.alliedmarketresearch.com/request-sample/14624
Driver:
The surge in construction of shopping malls and offices, an increase in spending on home remodeling, and bathroom and toilet renovations in residential and non-residential buildings are driving the global stainless steel plumbing pipe market. However, fluctuations in commodity prices and a decline in new construction activity in African countries are hampering market growth. On the contrary: infrastructure development in developing countries is expected to open up new opportunities for market participants in the future.
Covid-19 scenario:
The Covid-19 pandemic hampered the market due to the closure of stainless steel sanitary pipe manufacturing plants. In addition, the decline in new building construction slowed demand for stainless steel sanitary tubing.
In addition, the pandemic has disrupted the supply chain and increased commodity prices.
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The report segments the global stainless steel sanitary tubing market based on application, build type, end-user and region.
Based on application, the bathtub segment is expected to register the highest CAGR of 5.7% during the forecast period. However, the faucet segment held the largest share in 2020, accounting for more than a fifth of the market.
Based on construction type, the renovation segment is estimated to have the highest CAGR of 5.2% from 2021 to 2030. Additionally, in 2020, the segment dominated the market in terms of revenue, contributing to nearly three-fifths of the market. The study also analyzes the new construction segment.
Global Stainless Steel Sanitary Pipes Market is analyzed into several regions such as North America, Europe, Asia Pacific and LAMEA. The market across Asia-Pacific held the largest share in 2020, accounting for nearly three-fifths of the market. However, it is estimated that the market in LAMEA will register the highest CAGR of 5.9% during the forecast period.
Download a sample PDF with more insight (211 pages) at https://www.alliedmarketresearch.com/request-sample/14624
Top manufacturers:
Global Stainless Steel Sanitary Pipes Market report provides in-depth analysis of major market players like Geberit AG, Jindal Stainless Limited., Steelmor Industries, Central States Industrial, Mueller Industries Inc., Reliance Worldwide Corporation Limited, Turnkey Industrial Pipe & Supply Inc., Uponor Corporation , Bradley Corporation and Globe Union Industrial Corp.
David Correa
Allied Analytics LLP
+1-800-792-5285
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May 11, 2023 at 5:18 p.m
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