According to the latest statistics, the total volume of the global copper pipe and tube market is 4.2 million metric tons.
Together with Al Farid Wood and Metal Trading Company, we will try to analyze the market drivers and restraints to get the full picture of its future.
Drivers stand for the factors that support or facilitate the growth. Our research shows there are at least three drivers here:
First, higher living standards lead to the steady expansion in the HVAC industry worldwide. Therefore, the global demand for air conditioner copper pipes is expected to grow for at least the next 5 years. Besides, a copper tube such as, for example, the copper pipe straight 12.7 mm. It is widely used in the construction industry that also experiences growth due to rapid urbanization.
Second, fast development in the healthcare industry, which values a copper pipe due to its antibacterial properties, determines a further increase in its demand.
At last, due to their high tensile and fatigue strength, copper tubes are in great demand in the oil and gas industry. Thus, the stable demand here is guaranteed by the industry growth as well as a fixed asset replacement and renovation policy.
In the context of copper pipe market analysis, restraints are the factors that slow down or restrict the growth. In other words, they are the market challenges.
According to our analysis, the main restraints of the global copper tube market include:
The main challenge that highly volatile raw material prices pose on the copper pipe market is the unstable margin. In other words, copper tube and tube manufacturers have to charge more in the periods of lower raw copper rates to cover their possible looses in the future.
As for the construction industry, PVC piping gains its popularity in such application as building water supply and heating systems.
Fortunately, the drivers are more powerful than the restrains on the copper pipe market. Therefore, its compound annual growth rate (CAGR) is estimated to be around 3% and reach 5.1 million metric tons by the end of the period.
If you need copper pipe – buy online right now and our managers will help you make your choice easily.
Price for copper metal LME –https://www.lme.com/en-GB/Metals/Non-ferrous/Copper#tabIndex=0