LONDON–(BUSINESS WIRE)–Technavio’s latest market research report on the global copper pipes and tubes market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio analysts, the global copper pipes and tubes market will grow at a CAGR of close to 4% during the forecast period. The increasing demand for copper tubes and pipes in HVAC segment is a major factor driving the market’s growth. The extensive use of copper tubes and pipes in HVAC systems implies a direct correlation between the growth of the global HVAC systems market and the global copper pipes and tubes market. The global HVAC systems market is expanding due to the rise in population levels, increase in per capita income levels, industrialization, and increase in construction expenditure. The global HVAC systems is expected to grow during the forecast period, which in turn, would drive the global copper pipes and tubes market.
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In this report, Technavio highlights the rising adoption of cupronickel tubes as one of the key emerging trends in the global copper pipes and tubes market:
Rising adoption of cupronickel tubes
The addition of nickel to copper improves the corrosion resistance and ductile strength of alloys. Other elements can be added to the mixture to increase corrosion resistance, hardening properties, castability, strength, and weldability. Copper-nickel alloys are used in offshore oil and gas production, naval and commercial shipping, power generation equipment, and desalination systems. Copper alloys are characterized by resistance to sand abrasion, seawater flow, and wear and tear. Such alloys are characterized by improved mechanical properties as well.
“Countries such as Japan and a few markets in Europe are the prominent manufacturing centers for cupronickel tubes. These tubes are highly corrosion resistant and are used for industrial applications. Copper-nickel alloys are characterized by extensive marine applications owing to their resistance to microbial fouling and seawater corrosion. Such alloys are malleable as well,” says a senior analyst at Technavio for research on metals and minerals.
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Global copper pipes and tubes market segmentation
This market research report segments the global copper pipes and tubes market into the following end-users (HVAC, industrial heat exchange, and plumbing) and key regions (the Americas, APAC, and EMEA).
The HVAC segment held the largest market share in 2017, accounting for nearly 57% of the market. The market share for this end-user is expected to decrease nearly 2% by 2022. The fastest growing application is HVAC, which will account for nearly 59% of the total market share by 2022.
APAC was the leading region for the global copper pipes and tubes market in 2017, accounting for a market share of nearly 44%. By 2022, APAC is expected to continue dominating the market and register a growth of nearly 2%.
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