Rising disposable incomes in developing nations like India, Brazil, and Africa boost spending on construction and renovations, driving growth in the market.
WASHINGTON, DE, UNITED STATES, November 19, 2024 /EINPresswire.com/ -- 𝑺𝒕𝒂𝒊𝒏𝒍𝒆𝒔𝒔 𝑺𝒕𝒆𝒆𝒍 𝑷𝒍𝒖𝒎𝒃𝒊𝒏𝒈 𝑷𝒊𝒑𝒆𝒔 𝑴𝒂𝒓𝒌𝒆𝒕 𝑶𝒗𝒆𝒓𝒗𝒊𝒆𝒘The global 𝐬𝐭𝐚𝐢𝐧𝐥𝐞𝐬𝐬 𝐬𝐭𝐞𝐞𝐥 𝐩𝐥𝐮𝐦𝐛𝐢𝐧𝐠 𝐩𝐢𝐩𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 was valued at $8,170.7 million in 2020 and is projected to reach $4,924.2 million by 2030, growing at a CAGR of 4.8% from 2021 to 2030. Stainless steel plumbing pipes are widely used in kitchens, bathrooms, toilets, and wastewater applications due to their corrosion resistance, hygiene, recyclability, lightweight, and fire safety. Available in sizes ranging from 15 mm to 50 mm, these pipes are integral to residential and non-residential buildings.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲: https://www.alliedmarketresearch.com/request-sample/A14255
𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬
Growth Drivers
The market is propelled by innovations in stainless steel pipe designs for plumbing applications, such as faucets, bathtubs, and showerheads. Rising disposable incomes in developing nations like India, Brazil, and Africa have increased spending on construction and renovation, further driving demand. For example, disposable incomes in Africa grew by 1.2% in 2020, while India witnessed plans for 17 new IT parks from 2020 to 2022, boosting demand for stainless steel pipes. Additionally, global urbanization necessitates more sanitary facilities, with smart toilet installations, like the 798 units by Garv in India, further contributing to market growth.
𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬
The market faces hurdles such as reduced construction activity in developed regions and fluctuating raw material prices, which impact production costs. However, infrastructural development in Africa presents lucrative opportunities for growth.
𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧
By Construction Type
New Construction: Significant market share.
Renovation: Dominated the market in 2020, driven by increasing renovation projects globally.
By End User
Residential: Held the largest market share in 2020 due to rising home renovations and new housing projects.
Non-Residential: Growth supported by expanding commercial spaces like malls and offices.
By Application
Bathtubs: Expected to grow at a significant CAGR during the forecast period.
Showerheads, Faucets, and Others: Accounted for major market revenue in 2020.
By Region
Asia-Pacific: Dominated the market in 2020, driven by rapid urbanization and infrastructure development.
Other Regions: North America, Europe, and LAMEA also hold substantial shares, supported by regional construction activities.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/A14255
𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
Key players in the market include:
Geberit AG
Jindal Stainless Limited
Steelmor Industries
Mueller Industries Inc.
Reliance Worldwide Corporation Limited
Uponor Corporation
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David Correa
Allied Market Research
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