According to the latest report by IMARC Group, titled “Copper Pipes and Tubes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global copper pipes and tubes market size reached 4.3 Million Metric Tons in 2019. Copper (Cu) is a ductile and malleable metal that has a characteristic reddish-brown color. It is durable, lightweight, non-toxic, non-permeable, corrosion-resistant and environment friendly. Besides this, it has electrical and thermal conductive properties, owing to which it is widely used in the production of pipes and tubes. These pipes and tubes are used in the transportation of gases as copper is non-permeable to air and gas and has reduced chances of leakage and contamination caused by oxygen, ultraviolet (UV) rays and temperature from the external environment.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Copper Pipes and Tubes Market Trends:
On account of rapid urbanization and the growing global population, there is a significant rise in the construction activities worldwide, which in turn has escalated the need for heating, ventilation and air conditioning (HVAC) systems. Consequently, the demand for copper pipes and tubes is increasing, as these products are widely used in these systems for the water supply and refrigerant lines. Moreover, the growing popularity of hybrid and electric vehicles (EVs) is also strengthening the market growth as copper pipes and tubes are utilized in their production as compared to conventional vehicles. As the governments of numerous countries are undertaking initiatives and offering subsidies on the purchase of these vehicles, it is further fueling the market growth. Other factors that are anticipated to bolster the market growth include rising demand from the solar thermal energy and waste heat recovery systems and product innovations by leading manufacturers, such as polyvinyl chloride (PVC) coated copper tubes. Looking forward, the market volume is projected to reach 5.0 Million Metric Tons by 2025, expanding at a CAGR of around 2.5% during the forecast period (2020-2025).
- Based on the finish type, the market has been segmented into LWC grooved, straight length, pancake and LWC plain.
- On the basis of the outer diameter, the market has been segregated into 3/8, 1/2, 5/8 inch; 3/4, 7/8, 1 inch; and above 1 inch.
- The market has been analyzed on the basis of the end user into HVAC, industrial heat exchanger, plumbing, electrical, and others.
- Region-wise, the market has been classified into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined, with some of the key players being Furukawa Electric Co., Ltd., KME Germany GmbH & Co KG, Kobe Steel, Ltd., Luvata (Mitsubishi Materials Corporation), MetTube Sdn Bhd, Mueller Industry, Inc., KMCT Group AB, Cerro Flow Products LLC, Golden Dragon Precise Copper Tube Group Inc., Mehta Tubes Limited, Qingdao Hongtai Metal Co., Ltd. and Shanghai Hailiang Copper Co., Ltd.
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