The global copper pipes and tubes market was valued at USD 4.53 million in 2021 and is expected to reach USD 6.26 million by 2029, registering a CAGR of 4.12% during the forecast period of 2022-2029. The market is primarily driven by the increasing utilization of copper pipes and tubes in manufacturing non-flammable medical gas devices, plumbing systems, and heat exchanger equipment. The surge in construction activities in developing countries further accelerates market growth. The HVAC segment is expected to grow at the fastest CAGR owing to copper's beneficial qualities such as corrosion resistance, malleability, and energy efficiency.
The market's expansion is also influenced by the increasing demand across end users, driven by the product's benefits, such as ease of handling and non-pyrogenic properties. The growing demand for HVAC systems, expanding oil and gas industry, and rising adoption of solar thermal energy and waste heat recovery systems further boost the market. Additionally, the burgeoning demand for eco-friendly copper pipes and tubes and rising investments in developing and distributing these products create lucrative opportunities for market players.
However, fluctuations in raw material prices and certain disadvantages associated with copper pipes and tubes, such as susceptibility to failure at high water temperatures and condensation issues, pose challenges to market growth. Despite these challenges, the market is poised for steady growth due to ongoing innovations and investments.
Regionally, North America, Europe, Asia-Pacific, and LAMEA are expected to be significant markets, with North America leading due to its established infrastructure and high demand in construction and HVAC applications. Asia-Pacific is anticipated to witness the highest growth rate, driven by rapid urbanization and increasing construction activities.
Major market players included in this report are:
Mueller Industries, Inc.
Cerro Flow Products LLC
Cambridge-Lee Industries LLC
Furukawa Electric Co., Ltd.
KME Germany GmbH & Co. KG
Luvata Oy
Qingdao Hongtai Metal Co., Ltd.
Shanghai Metal Corporation
Zhenjiang Hongda Copper Co., Ltd.
Foshan Huahong Copper Tube Co., Ltd.
Golden Dragon Precise Copper Tube Group Inc.
H & H Tube
Global Metals
MetTube Sdn. Bhd.
Wieland Copper Products LLC
L2: The detailed segments and sub-segment of the market are explained below:
By Type:
Copper Pipes
Copper Tubes
By Finish Type:
LWC Grooved
Straight Length
Pan Cake
LWC Plain
By Outer Diameter:
3/8
1/2
5/8 Inch
3/4
7/8
1 Inch
Above 1 Inch
By Application:
HVAC and Refrigeration
Industrial Heat-Exchange Equipment
Plumbing
Others
Common content for 'Report Description'
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
