WASHINGTON, DC, Dec. 6, 2022 (GLOBE NEWSWIRE) — According to a new research report published by Zion Market Research titled “Plastic Catheters Market by Type (Rigid Catheters and Flexible Catheters), Material (PVC, High Density Polyethylene), polypropylene, etc.), by industry vertical (manufacturing, construction, IT and telecommunications, healthcare, etc.) and by region – global and regional industry overview, market information, comprehensive analysis, historical data and forecasts for the period up to 2030 research database.
“According to the latest research report, the global plastic catheter market size and revenue share is expected to be US$18.75 billion in 2021 and is projected to exceed approximately US$30.01 billion by 2030 and grow from average annual growth rate of compound annual growth rate. (CAGR) is approximately 5.7% over the forecast period.”
The plastic pipe is made of durable PVC for laying and protecting wires and cables. In addition, plastic pipes find many applications in various vertical industries such as information technology and telecommunications, manufacturing and construction. In addition, plastic pipes are also widely used in residential and commercial applications. In addition, plastic pipes are extremely durable and recyclable. They are lightweight, resistant to rust, burns and chemicals, and easy to deploy. The massive demand for plastic pipes for transporting drinking water and broadband has increased its penetration into utilities.
The global plastic pipe market is expected to expand significantly during the forecast period due to the huge demand for highly secure electrical wiring systems. In addition, plastic pipes have many advantages, including protection of cables from extreme temperatures and moisture resistance. Moreover, the growing use of plastic pipes in commercial and residential buildings and structures in emerging economies such as China and India will drive the growth trend of the global market. The plastic catheter market is expected to grow by leaps and bounds in the coming years as companies realize economies of scale in plastic catheter manufacturing.
The high cost of deploying plastic catheters and the significant rise in the cost of raw materials will constrain the growth of the global plastic catheter market. However, the growing demand for cable entry systems and plastic pipes in the residential segment will open up new growth opportunities for the global market.
The global plastic pipe market is segmented by type, material, industry and region.
According to the type, the global market is divided into rigid catheters and flexible catheters. By 2021, the global market share of the flexible catheter segment will be in the lead, and it is expected to maintain its dominant position even in the coming years. The growth of this segment during the forecast period can be explained by the increase in demand for flexible pipes for cable and wire laying.
In terms of materials, the global market segments include PVC, PP, HDPE and others. In 2021, the HDPE segment will lead the global market due to the widespread use of HDPE in telecommunications cables and power protective wires.
Browse the entire Plastic Pipe Market by type (rigid and flexible pipes), material (PVC, HDPE, PP, etc.), vertical industry (manufacturing, construction, IT and telecommunications, healthcare, etc.) and by regions.
North America accounts for the bulk of the global plastic pipe market due to the growing demand for this product as an alternative to conventional electrical equipment. In addition, the presence of a strong infrastructure has led to a huge preference for plastic pipes in the region, thus determining the trends of the regional market. However, in Asia Pacific, the plastic pipe industry is expected to post the fastest CAGR of approximately 7.5% during the forecast period. The growth of the regional market over a set period of time can be attributed to the huge demand for plastic catheters in countries such as Japan and China.
For an additional updated list of market players for 2022,
Post time: Dec-30-2022