As per FMI predictions, the Copper Pipes And Tubes Market is slated to generate market revenue of USD 34.8 billion in 2023. By registering a CAGR of 3.2% over the forecast period, the market is expected to top the market value of USD 48.8 billion by 2033.
Growth-inducing Factors for Copper Pipes and Tubes Market:
New Trends Shaping the Market Outlook:
Key Market Disruptors:
Key Opportunities for Businesses Providing Copper Pipes and Tubes:
| Attributes | Details |
|---|---|
| Copper Pipes and Tubes Market Size (2023) | USD 34.8 billion |
| Copper Pipes and Tubes Market Size (2033) | USD 48.8 billion |
| Copper Pipes and Tubes Market Forecast CAGR (2023 to 2033) | 3.2% |
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The copper pipes and tubes market portrayed growth at a CAGR of 4.5% from 2018 to 2022. The market has been fueled by elevated demand for copper pipes and tubes in HVAC systems and plumbing due to cost-benefits and the long-term reliability of copper products. Apart from this primary factor, the increase in construction activities fostered market expansion in the prior period.
The market is presumed to expand at a CAGR of 3.2% over the assessment period. Expanding applications of copper pipes and tubes in solar energy-guided equipment and waste heat recovery systems are expected to create beneficial circumstances for leading players. Additionally, the manufacturers are hopping over to emerging regions to extract copper from untapped areas, thus benefiting financially from this process.
FMI opines the value of the copper pipes and tubes industry to be worth USD 48.8 billion by 2033 end.
| Attributes | Details |
|---|---|
| Forecast CAGR (2018 to 2022) | 3.2% |
| Historical CAGR (2023 to 2033) | 4.5% |
The segment registered a CAGR of 4.1% in the historical period and is now projected to pace at a CAGR of 3%. The adoption of copper pipes and tubes, in the end, uses like HVAC is growing significantly due to its superior attributes. These include corrosion resistance, thermal conductivity, machinability in construction activities, and quick heat transfer.
Copper products also offer antimicrobial and antibacterial features, making them resourceful in HVAC units. Additionally, the climbing demand for HVAC throughout different commercial and residential construction areas is fueling the segment's growth.
International Energy Agency (IEA) reported that the worldwide energy demand for HVAC systems and air conditioning is expected to attain USD 5.6 billion by 2050 end. Hence, with surging demand for energy-efficient HVAC systems, the market for copper pipes and tubes is also expected to run parallel.
| Attributes | Details |
|---|---|
| Forecast CAGR (2018 to 2022) | 3% |
| Historical CAGR (2023 to 2033) | 4.1% |
Principal Consultant
| Country | China |
|---|---|
| Market Value USD (2033) | USD 10.4 billion |
The China pipes and tubes industry is expected to acquire a prominent share of the market. By 2033, FMI has predicted that the market in China is expected to be worth USD 10.4 billion. The market is anticipated to expand at a CAGR of 3.1% over the forecast period. High demand for copper pipes and tubes in oil and gas transportation, construction projects, and other end-use industries.
The surge in construction projects and infrastructural development in the country is expected to favor the market outlook in China. Demand for copper pipes and tubes is also rising for distribution and transportation due to soaring large gas pipeline projects. Copper tubing further finds application in automotive radiators due to its thermal conductivity, electrical conductor feature, and corrosion resistance.
Thriving automotive production is probably projected to increase the demand for copper pipes and tubes. All in all, spurring demand for copper pipes and tubes from different industries is expected to propel China’s market growth in the future.
| Attributes | Details |
|---|---|
| Forecast CAGR (2018 to 2022) | 3.1% |
| Historical CAGR (2023 to 2033) | 4.3% |
| Country | The United States |
|---|---|
| Market Value USD (2033) | USD 8.2 billion |
The United States pipes and tubes industry is estimated to attain USD 8.2 billion by 2033. Over the forecast period, the market is expected to pace at a CAGR of 3.1%, in contrast to the 4.4% CAGR exhibited in the period from 2018 to 2022. Increasing the installation of HVAC in construction projects is expected to favor market growth in the country.
HVACs are inserted in different buildings, offices, fire sprinkler systems, etc., due to their non-pyrogenic features, malleability, recyclability, etc. The usage of copper piping and tubing for water line systems is also contributing to market growth.
As per the United States Census Bureau records, the construction expenditure of the United States throughout January 2022 was worth USD 1,677 billion, indicating a 1.3% surge in comparison to the December projections. An increase in the application of copper pipes and tubes in multiple end uses is expected to support the United States market growth.
| Attributes | Details |
|---|---|
| Forecast CAGR (2018 to 2022) | 3.1% |
| Historical CAGR (2023 to 2033) | 4.4% |
The competitive landscape of the copper pipes and tubes market is fragmented, with numerous players operating. The market is punctuated with a limited amount of new players owing to large capital investments required to set up production units. Moreover, the switching costs and product differentiation are low in this market, thus fostering market growth.
Key Developments in the Market:
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| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion/ million for Value and Volume in ‘000’ Units |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, the United Kingdom, Germany, France, Spain, Italy, Russia, India, Thailand, Indonesia, Malaysia, China, Japan, South Korea, Australia, Oceania, GCC Countries, South Africa, Türkiye |
| Key Segments Covered | Product Type, End Use, and Region |
| Key Companies Profiled | Furukawa Electric Co., Ltd.; Global Brass and Copper Holdings, Inc.; ElvalHalcor; Mueller Industries; Aurubis AG; Cerro Flow Products LLC; Fabrika bakarnih cevi A.D. Majdanpek; Foshan Huahong Copper Tube Co., Ltd; Cambridge-Lee Industries LLC; H & H Tube; Zhejiang Hailiang Co., Ltd.; Kobelco & Materials Copper Tube Co., Ltd.; MM Kembla; Mehta Tubes Ltd.; Qingdao Hongtai Copper Co., Ltd |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market size of copper pipes and tubes is expected to be USD 34.8 billion in 2023.
The market is anticipated to expand at a CAGR of 3.2% in the future.
The market is predicted to attain USD 48.8 billion by 2033.
Burgeoning infrastructural projects are generating market opportunities for key players.
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Seamless Copper Pipes and Tubes
5.2. Welded Copper Pipes and Tubes
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use
6.1. HVAC
6.2. Industrial Heat Exchange
6.3. Plumbing
6.4. Others
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. North America
7.2. Latin America
7.3. Europe
7.4. Asia Pacific
7.5. MEA
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13. Key Countries Market Analysis
14. Market Structure Analysis
15. Competition Analysis
15.1. Furukawa Electric Co., Ltd.
15.2. Global Brass and Copper Holdings, Inc.
15.3. ElvalHalcor
15.4. Mueller Industries
15.5. Aurubis AG
15.6. Cerro Flow Products LLC
15.7. Fabrika bakarnih cevi A.D. Majdanpek
15.8. Foshan Huahong Copper Tube Co., Ltd
15.9. Cambridge-Lee Industries LLC
15.10. H & H Tube
15.11. Zhejiang Hailiang Co., Ltd.
15.12. Kobelco & Materials Copper Tube Co., Ltd.
15.13. MM Kembla
15.14. Mehta Tubes Ltd.
15.15. Qingdao Hongtai Copper Co., Ltd.
16. Assumptions & Acronyms Used
17. Research Methodology
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Copper Pipes and Tubes Market
