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Double digit growth expected in global plastic pipe market

Four major factors will lead to double digit growth in the global demand for plastic pipe systems over the next ten years, according to a keynote speaker at the recent Plastic Pipes XVII conference and exhibition in Chicago.


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October 10, 2014 by Canadian Plastics

Four major factors will lead to double digit growth in the global demand for plastic pipe systems over the next ten years, according to a keynote speaker at the recent Plastic Pipes XVII conference and exhibition in Chicago.

 

“The development of the shale oil and gas industry, regional market expansion, innovation and awareness in the field of Life Cycle Assessment are now favorably influencing the scale and scope of the industry’s future,” said Stephen Boros, the chairman of the event’s organizing committee.

 

Plastic pipe systems continue to gain market share through supplanting competing pipe materials such as copper, concrete and steel due to easy and low cost installation as well as long term performance, Boros said. “In North America, these inherent advantages are now further supported by the development of the shale oil and gas industry. This development not only benefits the energy market but also represents a more secure long-term supply and cost advantage from a power costs to raw materials stand point. Technology transfer will undoubtedly propel the growth of demand for plastic pipe systems in other world markets.”

 

“Last year, China became the world’s largest producer and consumer of plastic pipes,” Boros added. “While we can expect the US market to maintain double digit growth as recovery in the construction market picks up, we can also predict similar gains in Asia and eventually Eastern Europe.”

 

“Unlike competitive pipe industries, the world’s leading plastic pipe makers regularly invest over ten per cent on research and development,” Boros also said. “By 2024, we estimate that our industry and the many industries that support our industry will embrace a global sales turnover of US$500 billion.”

 

Plastic Pipes XVII was held from September 22-24, and drew 470 participants from 34 countries.