25 April 2013 20:27 [Source: ICIS news]
HOUSTON (ICIS)--Plastic pipe demand is expected to grow by 8.5% annually through 2017 to 11.2bn metres on increased spending in construction across all global regions, according to a market research study announced on Thursday.
The rebound in the US market, replacement of other materials, low cost of plastics, installation ease and performance advantages will provide additional support for the growth of plastic pipe, the Cleveland-based industry research firm The Freedonia Group said in its study.
Although polyvinyl chloride (PVC) is by far the most widely used pipe resin with more than 55% of global plastic pipe demand in 2012, high density polyethylene (HDPE) is expected to take market share from PVC in a variety of construction applications.
The recovery in the US construction industry and the construction market in China, the largest in the world, will contribute greatly to growth of plastic pipe, Freedonia said.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections