Major Spike in PVC, Steel, & Copper Prices in 2021 Leads to Record Year for Pipe Market

2022-07-23 07:43:19 By : Mr. Vincent Brush

CLEVELAND , July 12, 2022 /PRNewswire/ -- Sharp increases in average prices for key raw materials drove a surge in the US pipe market in value terms in 2021, finds a new Freedonia Group analysis.

In 2021, average prices of PVC, steel, and copper pipe spiked 38%, 48%, and 49%, respectively. The significant increase in prices was due to a number of factors including:

major increases in raw material prices, as inflation reaches the highest levels in the US in over 40 years

significant supply chain issues and shortages

These price increases led to a massive spike in value demand in 2021 that was boosted by a return to growth in pipe usage. In linear feet terms, demand accelerated from a nearly flat 2020, as the oil and gas drilling, industrial processing, and structural and mechanical markets rebounded due to rising gas prices and increasing durable goods production.

As Material Prices Moderate, Pipe Demand Expected to Slow Through 2026

Through 2026, demand for pipe products in the US is forecast to increase 2.2% per year to $57.9 billion , equivalent to 12.9 billion linear feet. Growth in value terms is projected to decelerate significantly due mostly to the expectation that average prices of plastic and metal pipe will moderate going forward. However, volume gains will be driven by:

a rebound in oil and gas drilling activity

increasing water and sewer construction

healthy growth in transportation equipment manufacturing

rising production of air conditioners and refrigerators, particularly larger and higher end models that require more tubing

Pipes Products & Markets provides historical data (2011, 2016, and 2021) and forecasts for the years 2026, and 2031 for the following competitive pipe materials:

plastic (broken out by PVC, HDPE, PEX, CPVC, fiberglass, ABS, and other resins)

other nonferrous metals (e.g., titanium, nickel)

Also included are breakouts for pipe markets:

structural and mechanical (refrigeration and HVAC equipment, appliances, transportation equipment, other structural and mechanical products)

potable water (water transmission, water distribution, service and rural water)

oil and natural gas (oil and natural gas drilling and transmission, natural gas distribution)

About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.

Press Contact: Corinne Gangloff +1 440.842.2400 cgangloff@freedoniagroup.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/major-spike-in-pvc-steel--copper-prices-in-2021-leads-to-record-year-for-pipe-market-301585207.html

Snap Inc. has never been an investor-friendly company as long as those investors weren't their founders, and the parent company of the Snapchat app made that even clearer Thursday.

Snap's 40% stock price crash on Friday after a dismal second quarter earnings report and brutal call is well warranted, one analysts explained to Yahoo Finance.

Anthony Scaramucci, the short-lived White House communications director under Donald Trump, is a bitcoin evangelist.

Verizon stock is moving lower after an earnings miss and dip in wireless subscriber growth.

Yahoo Finance Editor-in-Chief Andy Serwer discusses Berkshire's stake in Occidental Petroleum and what that indicates to investors.

Fed’s zigzagging policies could ultimately lead to an outcome similar to what happened in its fight against inflation four decades ago.

(Bloomberg) -- The housing market correction that’s taking hold in Canada could turn out to be its biggest in recent history, according to a new forecast from the country’s largest bank.Most Read from BloombergThree Arrows Founders Break Silence Over Collapse of Crypto Hedge FundTrump Insiders Recall How He Spurned Pleas to Act as Riot RagedTesla’s Bitcoin Dump Leaves Accounting Mystery in Its WakeAmericans Who Can’t Afford Homes Are Moving to Europe InsteadStudent Loan Borrowers Aren’t Waiting

The Dow Jones fought back. Tesla stock rocketed after Elon Musk gave an update on its "best product ever." Apple stock popped. Bitcoin fell.

Verizon is set for its worst week since October 2008, but it's sitting on must-hold support right now.

Every one of those quarterly reports has shown a growing company, despite plenty of ups and downs in the economy—and the internet. Amazon’s worst quarter came in September 2001, when the internet bubble was blowing apart. Now, though, Amazon’s streak may be coming to an end.

After more than a year of testing in select cities, Amazon is launching its first wave of custom electric delivery vehicles.

Rakon (NZSE:RAK) has had a rough three months with its share price down 20%. However, stock prices are usually driven...

U.S. stocks were under pressure Friday afternoon as a disastrous quarter from Snap weighed on the broader tech sector.

This money management maven doesn't mince words when it comes to what you shouldn’t be doing with your money.

Just where is the stock market going, that’s the question investors are trying to answer. The answer isn’t fully clear, though; markets have fallen for most of this year, but the last few days have seen the best trading in weeks. The problem is, investors and economists aren’t sure if we’re at a true bottom or just in the midst of a bear market rally. What happens next is anyone’s guess, but the history of bears and rallies can offer some suggestions. Looking back to the end of the Second World

We’re supposed to be energy independent. What gives?

Stock-market bulls are poking their heads above the parapet, but skeptics see little more than a bear-market bounce.

HSBC, one of the world’s biggest banks, became the first in China to establish an internal Communist Party committee, paving the path for global lenders to follow suit.

Every investor – from the most experienced legends of Wall Street to the most amateur of retail traders – keeps a close eye on the market, looking for some sign or signal to indicate just the right trades. Following the corporate insiders is one way to find an advantage. These are the company officers whose positions put them ‘in-the-know’ on their companies’ inner workings. That knowledge gives these bigwigs an inside track when it comes to trading their own stocks – and to keep the trading flo

(Bloomberg) -- Even for Alphabet Inc., financial gimmickry is no match for the power of the bear market.Most Read from BloombergThree Arrows Founders Break Silence Over Collapse of Crypto Hedge FundTrump Insiders Recall How He Spurned Pleas to Act as Riot RagedTesla’s Bitcoin Dump Leaves Accounting Mystery in Its WakeAmericans Who Can’t Afford Homes Are Moving to Europe InsteadStudent Loan Borrowers Aren’t Waiting for Biden’s Promised ReliefThe Google parent’s shares sank 2.5% on Monday, the fir