The threaded fittings are majorly utilized for small pipe diameters like low-pressure and small bore piping and are categorized on the basis of pressure-temperature rating. Expansion of oil & gas plants across the globe is creating positive impact on the growth of threaded pipe fittings market.
Market Scope and Structure Analysis
Refineries in countries like the U.S., Saudi Arabia, UAR, and many more have started adopting threaded pipe fitting owing to features such as growing oil & gas pipelines. This drives the growth of the threaded pipe fittings market. Nevertheless, government investment in emerging economies to promote growth of chemical and oil & gas industry is expected to create opportunities for threaded pipe fittings systems market in the near future.
However, high maintenance requirement owing to the leakages occurring in the pipes is one of the major factors limiting the growth of the threaded pipe fittings market. Leakages in pipes cause high investments for the end users leading to high maintenance as the pipes have their major applications in water distribution & sewage, plumbing, and other applications. This in turn fuels the growth of the market
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in the threaded pipe fittings market attributed to the lockdown in countries worldwide. This has hampered the growth of the threaded pipe fittings market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of threaded pipe fittings in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for threaded pipe fittings was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for threaded pipe fittings.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Threaded pipe fittings market manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
- Threaded pipe fittings market are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Rapid urbanization, increase in disposable income of the middle-class population, rise in private & public investment boost residential construction. In addition, increase in governmental initiatives to rebuild older buildings for high-rise buildings due to which the sewerage treatment projects are gaining traction to meet the water demands in these areas for which there is need of better piping to ensure water delivery. High investment on R&D of water treatment technology, innovation of new technologies, with the objective of saving the natural resources from extinction have resulted into the sewage treatment drive the growth of the market.
Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events to establish their foothold in the market. Inorganic growth strategies witnessed in the market include acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from threaded pipe fittings market are anticipated to focus on rise in demand, which is projected to be opportunistic for the growth of the market.
Market Trends
- Increase in water consumption across multiple sectors drives the market growth for pipes and fittings. The increased sales of many real-time instruments such as pressure measurement meters and pumps also contributes toward the development of the global water and wastewater pipes industry. The commitment of administrative agencies and governments to maintain a consistent delivery of potable water to households and industrial units is critical to their success. Moreover, water use in the manufacturing sector necessitates the construction of adequate pipelines. As a result, all of the major sectors' primary needs point to the need for better water and wastewater pipes. The global market's development has been aided by the availability of better materials for pipe production. In 2019, Delhi Jal Board has approved setting up of 106-MGD water treatment plant (WTP) in India, thereby helping to meet the demand for drinking water in the city. These projects are set to escalate the market growth rate during the forecast period.
- China is the largest segment for Asia-Pacific pipe production market. Heavy investment in the upstream, midstream and downstream oil & gas industry is the driving force for an increase in demand for the pipes and fittings market. Increase in investment in power generation industry which relies on renewable energy sources is the most growing industry for the pipes and fittings market. For instance, in November 2019, BASF started work on its USD 10 billion integrated petrochemicals plant in Guangdong, China's southern province. As a result, both of these planned oil and gas facilities and chemical plants are expected to greatly increase demand for PVDF pipes. This in turn benefits the market growth.
- A strategic business partnership is a long-term business relationship focused on creating joint value for two or more organizations. For instance, in April 2021, Saint-Gobain made an agreement to sell its 67% of its pipe business in China to a consortium led by the local government. This divestment allows its link with pipe business in Europe to be maintained by way of long-term industrial partnership.
Key Benefits of the Report
- This study presents the analytical depiction of the threaded pipe fittings 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 threaded pipe fittings market share.
- The current market is quantitatively analysed to highlight the threaded pipe fittings market industry growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed threaded pipe fittings market analysis based on competitive intensity and how the competition will take shape in coming years.
Threaded Pipe Fittings Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By Region |
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 Key Market Players | Zhejiang Liutong Plastics, Dixon Valve,, Metline Industries,, PAR Group,, United Forge Industries,, Hansen,, Wellgrow Industries,, Simon Steel India,, Vishal Steel,, Rotarex, |
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