The global stainless steel plumbing pipes market is expected to reach $4.9 billion in 2030 from $8.1 billion in 2020, growing at a CAGR of 4.8% from 2021 to 2030. In 2020, Asia-Pacific dominated the global stainless steel plumbing pipes market, accounting for 58.70% share of the market.
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.
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According to the UN, urbanization is taking place in a major section of the world. Urban regions now contain almost 54.8% of the world’s population. Increase in knowledge of more modern sanitary fittings such as taps has come from urbanization. Growth in urbanization and rise in number of nuclear families, especially in developing nations, have created a significant need for stainless steel pipes for plumbing applications. In addition, rise in consumer hygienic has aided expansion of the electronic-enabled plumbing industry. As a result, growing urbanization and greater demand for basic sanitation are factors that surge the demand for stainless steel plumbing pipes during the forecast period.
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. 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.
However, owing to lockdown imposed in countries such as China, the U.S., and India, numerous manufacturers in the global stainless steel plumbing pipes market led to halt in their business production. This disruption has a direct impact on sales of stainless steel plumbing pipes. However, it is expected that reopening of production facilities and introduction of coronavirus vaccines would lead to reopening of bathroom taps firms.
The stainless steel plumbing pipes market has observed significant growth in the past few years, owing to rise in urbanization and concern for hygienic sanitation. In addition, rise in infrastructure development in various developing nations, such as India, Brazil, Africa, and others, is anticipated to provide lucrative opportunities for the growth of the global stainless steel plumbing pipes market.
The global stainless steel plumbing pipes market is segmented into construction type, end user, application, and region. By construction type, the market is classified into new construction and renovation. The renovation segment dominated the market in 2020. Based on end user, the market is divided into residential and non-residential. The residential segment dominated the market in 2020. Based on application, the market is differentiated into bathtubs, showerheads, faucets, and others. The others segment dominated the market in 2020.
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Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the 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.
Key companies profiled in the report include 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.
Key Findings Of The Study
- Depending on construction type, renovation segment was the largest revenue generator in 2020.
- By end user, the residential segment generated the highest revenue in 2020.
- On the basis of application, others segment accounted for the highest revenue in 2020.
- Region wise, Asia-Pacific is anticipated to dominate the global stainless steel plumbing pipes market throughout the study period.
- The report provides an extensive analysis of the global stainless steel plumbing pipes market trends and emerging opportunities of the market.
- The global stainless steel plumbing pipes market forecast analysis from 2021 to 2030 is included in the report.
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