Copper pipes and tubes Market: Global Opportunity Analysis and Industry Forecast, 2021-2031 Market

Copper pipes and tubes are important components, which are applicable in various industries. Copper tubes and piping are commonly used in heating ventilation and air conditioning (HVAC) devices such as refrigerator, air conditioner, and air filter. Various types of copper pipes are available in the market such as type k pipe, type L pipe, type M pipe, and copper DMV pipe. As copper is a corrosion-resistant material, copper pipes and tubes are widely used in plumbing and water supply system so that it will prevent the corrosion. Light in weight, cost-effective, easy to join, and long service life are some features of copper pipes and tubes.  

COVID-19 scenario analysis:

• The demand for copper pipes and tubes is expected to decrease in the year 2020 due to low demand from different industries such as construction and HVAC due to the lockdown imposed by government of many countries.
• COVID-19 pandemic has halted the production of various products in the copper pipes and tubes industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of copper pipes and tubes market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which is negatively affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors:

Use of copper in different industries is increasing day by day. In heating ventilation and air conditioning (HVAC) equipment such as air conditioner use of copper is preferred over aluminum. In air conditioning, condensing coils were used to made up of aluminum because of its properties like heat transfer capacity and cost effectiveness. However, the cost of repairing and maintenance of aluminum coil is high because once damaged, aluminum condensing coil have to be replaced by the new coil. Repairing of aluminum condensing coil is not possible. Hence to overcome this problem, companies have started using copper tubes in place of aluminum. Also thermal conductivity of copper is almost 8 times more than the aluminum. In air conditioning system, copper tube is used to pass the refrigerant to different parts of the system such as condenser, compressors, expansion valves and evaporators.

Copper pipes are widely used for the plumbing purpose as well. Rather than using plastic pipe or lad pipe, people have started using copper pipes owing to the properties of copper such as reliability, durability, cost effectiveness and recyclability. Also, many industries are inclined towards the sustainability and they are trying to use more ecofriendly materials for their product. This factor is increasing the demand for the copper pipes and tubes over the plastic tubes.

Current trends in copper pipes and tubes market:

Mergers and acquisitions in industry:

Different companies from copper pipes and tubes market has been involved in various mergers and acquisition to bring more innovation and ideas so that more effective product can be developed which will help their company to grow.

In April 2019, Wieland Group- a German company, which is a manufacturer of copper and copper alloys products, acquired Global brass and Copper Company. With this acquisition, Wieland group has made its place very strong in the copper pipes and tubes market.

Key driving factor for the growth of copper pipes and tubes market:

With the increasing use of equipment like air conditioner and heater the demand for copper tubes is also increasing. Hence, this could be the key driving factor for the growth of copper pipes and tubes market.
Due to the rise in industrialization and constructions plumbing work has also increased. Hence, copper pies and tubes market is expected to rise during the forecasting period.

The demand for the hybrid vehicle as well as for electrical vehicle is increasing across the globe. Copper is very important for these vehicles. Copper pipes and tubes in smaller size is used in the batteries and the charging instruments for these vehicles. Hence, it is expected to drive the copper pipes and tubes market in coming years.

Key benefits of the report:

• This study presents the analytical depiction of the copper pipes and tubes market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the copper pipes and tubes market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the copper pipes and tubes market growth scenario.
• The report provides a detailed copper pipes and tubes market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the copper pipes and tubes market research report:

• Which are the leading players active in the copper pipes and tubes market?
• What are the driving factors, restraints, and opportunities of the copper pipes and tubes market?
• What are the different segments in copper pipes and tubes market?
• What are the applications of copper pipes and tubes?

 Copper pipes and tubes Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights