Double Digit Growth Expected in Global Plastic Pipe Market
Four major factors will lead to double digit growth in the global demand for plastic pipe systems over the next ten years. Speaking at the recent Plastic Pipes XVII conference and exhibition in Chicago, Stephen Boros, the Chairman of the event's organizing committee, identified these developments that are changing the world outlook for his industry.
"The development of the shale oil and gas industry, regional market expansion, innovation and awareness in the field of Life Cycle Assessment (LCA) are now favorably influencing the scale and scope of the industry's future", he stated.
Stephen Boros who is also VP Engineering for Pipelines Plastics, LLC explained that plastic pipe systems continue to gain market share through supplanting competing pipe materials such as copper, concrete and steel due to easy and low cost installation as well as long term performance. "In North America, these inherent advantages are now further supported by the development of the shale oil and gas industry. This development not only benefits the energy market but also represents a more secure long-term supply and cost advantage from a power costs to raw materials stand point. Technology transfer will undoubtedly propel the growth of demand for plastic pipe systems in other world markets".