Stainless Steel Sanitary Pipe Market
According to a new report by Allied Market Research, titled “Stainless Steel Plumbing Pipes Market by Design (New Construction and Renovation), Application (Bathtubs, Showerheads, Faucets and Others), and End-User (Residential and Non-Residential)” : Global Opportunity Analysis and Industry Forecast, 2021-2030. 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.
The rise 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.
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Stainless steel tubing is used in residential, commercial, and industrial plumbing applications because it is durable, corrosion-resistant, rigid, strong, 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.
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.
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.
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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.
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.
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Key segments:
The global stainless steel sanitary tubing market is segmented by type, end-user, application, and region. By construction type, the market is segmented into new construction and renovation. The renovation segment dominated the market in 2020. Based on the end user, the market is segmented into residential and non-residential. The residential segment dominated the market in 2020. Depending on the application, the market is differentiated into bathtubs, shower heads, faucets and others. The Other segment dominated the market in 2020.
Regional Analysis:
By region, it is analyzed in North America (US, Canada, and Mexico), Europe (Germany, France, UK, Italy, and the rest of Europe), Asia Pacific (China, Japan, India, South Korea). and the rest of Asia Pacific) and LAMEA (Latin America, Middle East and Africa). Asia Pacific dominated the market in 2020.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global, medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused perspective on providing business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market space.
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