by Corinne Gangloff
July 14, 2022
A new Freedonia Group analysis forecasts pipe demand to increase 2.2% annually to $57.9 billion in 2026, with growth coming mostly from volume increases as average prices for some metal and plastic products are expected to decline following a major spike in 2021:
Oil & Gas Market Rebound to Support Growth
The oil and gas market is expected to be the fastest growing pipe market, supported by a significant rebound in the number of wells drilled in the US as oil and natural gas prices increase from very low levels in 2020 and early 2021. Oil and gas drilling activity has increased significantly in 2022, as international production has not been able to keep up with demand and sanctions against Russia have limited the supply of available oil, causing prices to increase at a rapid pace.
Want to Learn More?
Pipes Products & Markets provides historical data (2011, 2016, and 2021) and forecasts for the years 2026, and 2031 for the following competitive pipe materials:
Also included are breakouts for pipe markets:
Provide the following details to subscribe.