PEX Pipe to Grow 5.8% Annually Through 2026
CLEVELAND, Sept. 12, 2022 /PRNewswire/ — According to the new study Plastic Pipe, demand for PEX pipe is projected to rise 5.8% annually to $3.0 billion in 2026. New and replacement potable water distribution is by far the largest market for PEX pipe. A small amount of PEX pipe is also utilized in sprinkler pipe for irrigation purposes; some demand also exists in the oil and natural gas market.
Gains for PEX pipe will be fueled by:
- its flexibility, which allows it to be run around walls or other obstructions, making it easy to install and thereby saving on labor costs
- increasing construction of single-family residences with multiple bathrooms, with PEX most often specified for the associated distribution systems
- rising interest in installing radiant floor systems, which nearly always use PEX
PEX will continue to displace copper pipes in water distribution due to ease of installation and a shrinking pool of experienced plumbing professionals who can install copper pipe.
Demand for plastic pipe of all types is expected to rise 2.9% annually to $19.6 billion in 2026, a significant deceleration from the 2016-2021 period due to a notable slowdown in price growth from a high 2021 level. Demand will be driven by installation of pipe in the potable water, conduit, DWV, and storm and sanitary sewer markets as well as by the increasing use of larger diameter plastic pipes in some applications.
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SOURCE The Freedonia Group
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