Pipe and pipe fittings made piping system which is a high-performance instrument as it acts as a transporting media for very high parameter constraints like high pressure, high temperature, heavy flow, and hazardous materials. In most cases, pipes are used as connectors in water supply inlets to establish clean and waste-water distribution systems, agricultural watering systems, liquid discharge installations, water sprinkling and dropping systems, sanitation and sewerage disposal, etc. Pipes cannot be installed without the fittings as pipe fittings are essential to connect pipes. There are various types of pipe fittings such as adapters, couplings, elbows, tees, flanges, valves, reducers, sleeves, etc. These pipe fittings are used to connect pipes, tubes, flared, pneumatic and other fittings for various configurations.
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Demand Outlook
The global pipe and pipe fitting market is expected to reach USD 35 billion by 2025 with a CAGR of 5% from 2020 to 2025. The demand for pipe fitting is majorly driven by rapid urbanization, government investments towards infrastructural growth including the installation of pipes for efficient water distribution systems. There is a rising demand for high-performance corrosion-resistant steel and plastic pipes from the oil and gas industries. Moreover, petrochemicals and mining industries are increasingly adopting steel pipes and fittings due to their corrosion-resistant characteristics is leading to an increase in demand for pipe fittings during the forecast period.
Cost Drivers
The raw material is one of the major cost drivers for pipe fitting manufacturing. Pipe fittings can be made from a wide range of raw materials depending on their application. The conventional raw materials include stainless steel, brass, copper, carbon steel, cast iron, bronze, etc. However, high-performance polymers, rubber, and plastics are increasingly used with conventional raw materials with a goal to reduce the high cost and avoid supply chain
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