Global Copper Pipes and Tubes Market to Reach 4.9 Million Tons by the Year 2026

Copper pipes and tubes are used in a range of piping and tubing applications in residential, commercial and industrial environments. To support use case in myriad applications and to meet the needs of various end-use systems, copper pipes and tubes are offered in different forms, patterns and configurations. Copper pipes and tubes are extensively used for manufacturing non-flammable medical gas devices, plumbing systems, and heat exchanger equipment. The demand for copper pipes and tubes fell in 2020 due to stoppage of all non-critical construction projects, reduced residential construction, reduced focus on smart cities, poor automotive demand, and contraction of the manufacturing sector, among other factors. In the post COVID-19 period, the global market for copper tubes as well as pipes will grow led by the importance of copper`s corrosion resistance, non-combustible property, and lightweight features in various end-use applications. Market growth will also be driven by the revival in demand for corrosion-resistant and durable copper piping and tubing for use in fuel oil systems, medical gas systems, underground gas and water supply systems, heat exchange systems, and HVAC&R as well as from renovation and construction activities.

Amid the COVID-19 crisis, the global market for Copper Pipes and Tubes estimated at 3.9 Million Tons in the year 2020, is projected to reach a revised size of 4.9 Million Tons by 2026, growing at a CAGR of 4.2% over the analysis period. HVAC, one of the segments analyzed in the report, is projected to grow at a 4.6% CAGR to reach 3 Million Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industrial Heat Exchange segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 24.2% share of the global Copper Pipes and Tubes market. In the HVAC segment, the use of copper pipes and tubes continues to be driven by the heat transfer and antimicrobial features of the material, which makes them suited for use in HVAC applications. The shift towards intelligent and energy efficient HVAC systems is likely to spur growth in demand for copper pipes and tubes, due to the high corrosion resistance, machinability and superior thermal conductivity offered by copper. Industrial heat exchangers require materials that are capable of conducting heat and enabling its transfer in a rapid and efficient manner. In this regard, copper is preferred since it superior heat conductor, durable and thermally efficient, besides enabling quick heat transfer.

The U.S. Market is Estimated at 428.9 Thousand Tons in 2021, While China is Forecast to Reach 1.8 Million Tons by 2026

The Copper Pipes and Tubes market in the U.S. is estimated at 428.9 Thousand Tons in the year 2021. The country currently accounts for a 10.89% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of 1.8 Million Tons in the year 2026 trailing a CAGR of 4.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.7% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of European market (as defined in the study) will reach 1.9 Million Tons by the end of the analysis period. Asia-Pacific and China represent a key regional market for copper pipes and tubes, due to the presence of abundant natural resources, large workforce, and expanding manufacturing sector. Also, the rising demand for HVAC systems, urbanization, and government incentives and policies, among other factors are driving gains in the market. Developed economies in Western Europe and North America are expected to witness demand for copper pipes and tubes emerge from major industries such as mining, aerospace & defense, heavy engineering, and automotive.

Plumbing Segment to Reach 549.4 Thousand Tons by 2026

Copper tubes are being used in heating and plumbing systems, due to the material`s ability to endure extreme heat conditions without any degradation; ability to resistant to corrosion and high water-pressure; and ability to retain shape, and strength at high temperatures. In the global Plumbing segment, USA, Canada, Japan, China and Europe will drive the 2.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of 326.9 Thousand Tons in the year 2020 will reach a projected size of 405.1 Thousand Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 120.8 Thousand Tons by the year 2026, while Latin America will expand at a 3.4% CAGR through the analysis period.