Global Copper Pipes and Tubes Market to Reach 4.6 Million Tons by 2026
FACTS AT A GLANCE
Edition: 18; Released: May 2021
Executive assignments: 1155
Businesses: 115– Players include Cerro Flow Products LLC; Fabrika bakarnih cevi Majdanpek; Foshan Huahong Copper Tube Co., Ltd .; Furukawa Electric Co., Ltd .; Golden Dragon Precise Copper Tube Group, Inc .; Grupo IUSA, SA de CV; Cambridge-Lee Industries LLC; H&H tube; Hailiang Group Co., Ltd .; KME Germany GmbH; Kobelco & Materials Copper Tube, Ltd .; Luvata Oy; MM Kembla; Mueller Industries, Inc .; Ningbo Jintian Copper (Group) Co., Ltd .; Poongsan Corporation; Qingdao Hongtai Copper Co., Ltd .; Shanghai Metal Corporation; Wieland-Werke AG and others.
Coverage: All major regions and major segments
Segments: End uses (HVAC, industrial heat exchange, plumbing, other end uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global copper pipe and tube market will reach 4.6 million tons by 2026
Copper tubing and pipes are used in a range of piping and tube applications in residential, commercial and industrial settings. Copper pipes and tubes are used in a variety of applications such as conveying cold water, hot water and gas for heating and cooking, oil for heating, central heating water, wastewater and medical gases. The global economic outlook and dynamics of key end-use sectors, including heating, ventilation, air conditioning and refrigeration (HVACR); plumber; and industrial sectors determine the demand trends in the copper pipe and pipe market. Growing concern about minimizing energy consumption is increasing the demand for heat exchangers with high thermal efficiency. The introduction of strict environmental conservation guidelines promotes the use of durable copper piping and tubing for the production of heating, ventilation and air conditioning (HVAC) systems.
Amid the COVID-19 crisis, the global copper pipe and tube market, estimated at 3.5 million tons by the year 2020, is expected to reach a revised size of 4.6 million tons by 2026, with a CAGR of 4.6% over the analysis period. . HVAC, one of the segments analyzed in the report, is expected to achieve a CAGR of 5.1% and reach 2.8 million tons by the end of the analysis period. After an in-depth analysis of the business implications of the pandemic and the associated economic crisis, growth in the Industrial Heat Exchange segment is being revised to a revised CAGR of 3.9% for the next 7-year period.
The US market is estimated at 391.3 thousand tons by 2021, while China is expected to reach 1.7 million tons by 2026
The copper pipe and tube market in the US is estimated at 391.3 thousand tons by the year 2021. China, the world’s second largest economy, is expected to reach a projected market size of 1.7 million tons by the year 2026, with a CAGR of 5.4% over the analysis period. Among the other notable geographic markets are Japan and Canada, each predicted growth of 3% and 3.7%, respectively, over the analysis period. Within Europe, Germany is expected to grow at approximately 3.5% CAGR. Asia Pacific and China represent an important regional market for copper pipes and tubes, due to the presence of abundant natural resources, the large workforce and the growing manufacturing sector. Developed economies in Western Europe and North America is expected to witness the demand for copper conduit and tubing from major industries such as mining, aerospace and defense, heavy engineering and automotive.
Sanitation segment will reach 501.1 thousand tons in 2026
For plumbing, copper pipes provide exceptional protection against pollutants in the domestic water supply. The tubes prevent the ingress of liquids, germs, oxygen or even ultraviolet radiation. Copper plumbing pipes cannot be softened by organic substances and do not absorb these substances. Copper plumbing pipes in three wall thickness schemes are widely used. In multi-story buildings, copper pipes significantly reduce plumbing costs as they have a single-stack configuration. In the global sanitation segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets, accounting for a combined market size of 291.9 thousand tons in the year 2020, will reach an expected size of 369.2 thousand tons by the end of the analysis period. China remains one of the fastest growing in this cluster of regional markets. Guided by countries like Australia, India, and South Korea, into the market Asia Pacific is predicted to reach 111.5 thousand tons by the year 2026, while Latin America will expand at a CAGR of 3.8% during the analysis period. More
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