IMARC Group’s latest report, titled “Copper Pipes and Tubes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global copper pipes and tubes market size reached 4.7 Million Tons in 2022. Copper is a ductile and malleable metal with a distinct reddish-brown color. It is cost-effective, lightweight, durable, environment-friendly, non-corrosive, fire-resistant, and non-reactive. Owing to these properties, copper is used to produce pipes and tubes. These copper pipes and tubes find extensive applications across various industries, including construction, energy, automotive and healthcare, as they possess high yield, tensile, and fatigue strength. They are also widely employed in water distribution systems to transport potable water to residential and commercial buildings.
Global Copper Pipes and Tubes Market Trends:
Copper pipes and tubes are extensively utilized in heating, ventilation, and air conditioning (HVAC) systems for the water supply and refrigerant lines. As a result, the escalating demand for HVAC systems due to the rising construction activities across the globe represents the primary factor driving the market growth. In addition, the growing adoption of EVs has augmented the product demand since copper pipes and tubes are used in electric vehicles (EVs) and charging stations. Along with this, several favorable government initiatives like the introduction of incentives and subsidies for the purchase of EVs have catalyzed market growth. Furthermore, there has been increasing usage of copper pipes and tubes in the transportation of gases as copper is non-permeable to gas and air, and minimizes the chances of leakage and contamination caused by oxygen, ultraviolet (UV) rays, and temperature from the external environment. Besides this, recent product innovations, such as the development of polyvinyl chloride (PVC) coated copper tubes, have propelled the market growth. Other factors, including the expanding oil and gas industry, rising product demand from solar thermal energy and waste heat recovery systems, shifting focus toward sustainability, surging global population, and rapid urbanization, are also creating a favorable market outlook. Looking forward, the market volume is anticipated to reach 5.7 Million Tons by 2028, growing at a CAGR of 2.8% during the forecast period (2023-2028).
- On the basis of the finish type, the market has been divided into LWC grooved, straight length, pancake, and LWC plain.
- Based on 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 classified based on the end user into HVAC, industrial heat exchanger, plumbing, electrical, and others.
- Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed, with some of the key players being Furukawa Electric Co. Ltd, KME Germany GmbH, Kobe Steel Ltd., Luvata (Mitsubishi Materials Corporation), MetTube Sdn Bhd, Mueller Industries Inc., KMCT Corporation, Cerro Flow Products LLC, Golden Dragon Precise Copper Tube Group Inc., Mehta Tubes Limited, Qingdao Hongtai Metal Co. Ltd., and Shanghai Hailiang Copper Tubes Co., Ltd.
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