The new report by Expert Market Research titled, ‘Global Copper Pipes and Tubes Market Share, Growth, Trend, Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global copper pipes and tubes market, assessing the market based on its finish type, outer diameter, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2021-2026): 5%
The growth in the global copper pipes and tubes market is induced by the rising demand in plumbing applications due to its superior cost-efficiency, reliability, recyclability, and dependability over alternatives such as plastic and lead pipes. The growing demand for sustainable and environment friendly copper pipes and tubes, combined with demand from variety of application sectors, has pushed makers to focus on product technologies and the development of compact size and customization options. Moreover, their rising use in air conditioning and refrigeration devices, as well as other industrial facilities, has prompted producers to offer customization, allowing them to create tailor made copper pipes and tubes that meet particular customer specifications.
Industry Definition and Major Segments
Copper is a metal that is easily bent and has a high resistance to corrosion. Copper tubes and pipes for industrial use have many benefits over the other metals. Copper’s corrosion resistance, intrinsic superiority in thermal conductivity, and strength have made it popular in a variety of industries.
Based on finish type, the market is divided into:
- LWC Grooved
- Straight Length
- LWC Plain
Based on outer diameter, the industry is segmented into:
- 3/8 inch
- ½ inch
- 5/8 inch
- ¾ inch
- 7/8 inch
- 1 inch
- above 1 inch
Based on end-use, the market is divided into:
- Industrial Heat Exchanger
On the basis of region, the market is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The primary factor driving the expansion of the market is the increasing adoption for copper tubes and pipes in the HVAC segment. Copper pipes and tubes are mainly used in HVAC because of advantages such as easy handling, non-pyrogenic properties, and recycling capabilities. The growing demand for E-vehicles and hybrid vehicles would also boost the market in the coming years. E-vehicles and hybrid vehicles are using more copper than regular cars. Due to numerous public works projects and subsidization, there seems to be an uptick in E-vehicle purchases, that will stimulate growth for copper tubes and pipes in the years ahead.
Key Market Players
The major players in the market are Furukawa Electric Co., Ltd, KME, Kobe Steel, Ltd., Luvata, MetTube, Mueller Industry, KMCT, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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