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Copper Pipes and Tubes - Global Market Trajectory & Analytics

  • ID: 835000
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Cerro Flow Products LLC
  • Grupo IUSA, S.A. de C.V.
  • H& H Tube
  • Hailiang Group Co. Ltd.
  • KME Germany GmbH
  • Luvata Oy

Deteriorating Market Fundamentals Wipe Out Copper Pipes & Tubes Consumption by 0.53 Million Tons

The global market for Copper Pipes & Tubes is expected to slump by -13.2% in the year 2020 highlighting a 0.53 million ton erosion in consumption volume. Thereafter the market is expected to recover and reach 4.8 million tons by the year 2027 trailing a post-COVID-19 CAGR of 4.6% over the analysis period 2020 to 2027.The human cost of the pandemic is continuing to grow and is expected to deal an unprecedented blow to people, businesses and economies worldwide. Seven months into the pandemic, infections worldwide are continuing to spiral. Continuing lockdowns, labor shortages, mobility challenges, supply chain disruptions, financial distress and plummeting investments have impacted a bulk of construction activity worldwide. Diversion of government funds from infrastructure development to pandemic firefighting has additionally impacted the construction industry, which is dependent to a large extent on infrastructure projects. Spending billions of dollars on pandemic management and healthcare system upgrades, governments world over are now facing rapidly depleting fiscal coffers and widening fiscal deficits. Over the last eight months alone, the U.S. budget deficit widened to US$1.8 trillion as a result of the spending blitz to combat the pandemic. Falling tax revenue is additionally aggravating the financial woes.

Like the U.S. several countries worldwide jacked up spending necessary to stabilize economies rocked by double-digit unemployment and a severe contraction in economic growth. Governments are declaring bailout packages for businesses and industries. Over 19 countries have declared bailout packages. Governments are opening up their war chest to rescue their economies. 15 countries together have allocated US$2.78 trillion, underlining the magnitude of the crisis. These financial measures for damage control to prevent complete meltdown of domestic economies will have knock-on effects for government spending elsewhere. Against this backdrop planned infrastructure investments are receiving steep budget cuts. In several countries, all non-essential construction projects have been put on hold with the exception of building emergency hospitals for COVID-19 care. Residential construction is taking a beating with millions of people worldwide pushed into unemployment as businesses either go bankrupt or layoff workforce to stay afloat. Unemployment rates are climbing to worrisome levels in both developed and developing economies alike.

In the United States, the worst hit by the pandemic, the devastation wreaked on the country`s economy can be put into perspective by the fact that currently over 50% of the country`s population is now unemployed. Over 33 million Americans are unemployed and the share of population unemployed dropped sharply from a recent high of 62% in January 65.7% in July 2020. With the labor market in doldrums, consumer spending is plummeting. The loss in consumer confidence and erosion of household wealth and discretionary spending will impact virtually every industry and business worldwide. The COVID-19 pandemic has therefore pushed consumers to conserve cash. With unemployment rates rising amid the virus induced economic crisis, consumers are cutting spending budgets. Social outlook against this background remains grim with households expected witness erosion in wealth. Personal financial outlook, community, economy, job security confidence, purchasing and investment confidence are all tumbling as the human and economic cost of the global pandemic rises. For the construction industry, this brings bad news as new housing starts go into deep freeze. The long shadow of the coronavirus is thwarting home-buying plans of consumers. Also, widening government deficits is reducing the appetite for smart cities. Public and private investments in smart cities are expected to plummet in the year 2020. With countries seeing a second wave of infections, the Covid-19 resurgence is likely to undermine the much awaited chances of a V-shaped recovery. Challenges of maintaining social distancing at construction sites is resulting in difficulties in obtaining project clearances from regulatory authorities. Ensuring raw material availability still remains a challenge for most construction contractors.

Manufacturing, on the other hand, also remains equally affected. The worst affected industry in this pandemic driven crisis is manufacturing with its complex supply chains, labor intensive processes, and interdependencies. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions. An indication of the grim state of affairs is the fact that global manufacturing PMI is already declining and will fall to an estimated all-time low of 35.4 points in 2020 as compared to 53.8 in 2019. This indicates severe contraction of manufacturing activity including new orders, production, employment, supplier deliveries, inventories, customers` inventories, commodity prices, order backlog, new export orders, and imports. Global industrial output is plummeting sharply with the U.S posting steep declines of -16.5% & -15.2% in March & April 2020.

In the post COVID-19 period, growth will be led by recovering demand for strong, durable and corrosion-resistant piping and tubing solutions in applications such as HVAC&R, underground water and gas distribution, non-flammable medical-gas system and fuel-oil systems; demand for copper tubes in heat exchanger systems; and recovery in building construction and renovation and the ensuing need for plumbing solutions. Key benefits of copper pipes and tubes driving their widespread adoption include high-level workability; extended bending flexibility; sanitary and antibacterial properties; superior wear and fatigue endurance; versatility; high thermal conductivity, corrosion resistance; durability and low maintenance load; availability in a wide range of sizes; high levels of safety as the metal is slow to support combustion and decompose in the presence of toxic gases; 100% recyclability; and lightweight feature that makes transportation, handling and installation easy. Poised to score the highest gains during this period will be specialty copper tubes such as high-performance copper tubes, oxygen-free copper tubes and MIG welding tubes. Asia-Pacific will remain a major market led by factors such as rising investments in new infrastructure projects; spurt in real estate development; favorable socio-economic factors; higher than global average level of commercial, industrial and institutional activity; preference for copper tubes in water distribution networks given the metal`s bactericidal properties; government focus on migrating to piped natural gas distribution as compared to the current cylinder refills.

Select Competitors (Total 103 Featured):

  • Cerro Flow Products LLC
  • Fabrika bakarnih cevi Majdanpek
  • Foshan Huahong Copper Tube Co., Ltd.
  • Furukawa Electric Co., Ltd.
  • Golden Dragon Precise Copper Tube Group, Inc.
  • Grupo IUSA, S.A. de C.V.
  • Cambridge-Lee Industries LLC
  • H& H Tube
  • Hailiang Group Co., Ltd.
  • KME Germany GmbH
  • Kobelco & Materials Copper Tube, Ltd.
  • Luvata Oy
  • MM Kembla
  • Mueller Industries, Inc.
  • Ningbo Jintian Copper (Group) Co., Ltd.
  • Poongsan Corporation
  • Qingdao Hongtai Copper Co., Ltd.
  • Shanghai Metal Corporation
  • Wieland-Werke AG
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Cerro Flow Products LLC
  • Grupo IUSA, S.A. de C.V.
  • H& H Tube
  • Hailiang Group Co. Ltd.
  • KME Germany GmbH
  • Luvata Oy
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • COVID-19 Crisis Weakens Global Economic Environment, Triggering Negative Tide in GDP & Industrial Output Forecasts
  • Exhibit 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Exhibit 2: Global PMI Index Points for the Years 2018, 2019 & 2020
  • Construction Industry: Short-Term Prospects Remain Sluggish Amid Ongoing Onslaught of COVID-19 Outbreak
  • Exhibit 3: Global Construction Spending (In US$ Trillion) for 2019, 2020 & 2021
  • Exhibit 4: Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040
  • An Introduction to Copper Pipes and Tubes
  • Types of Copper Tubes
  • Copper Tube Sizes
  • Copper Tube Standards
  • Joining Methods for Copper Pipes & Tubes
  • End-Use Applications
  • Global Copper Pipes and Tubes Market: Outlook & Prospects
  • Copper Production Worldwide: An Overview
  • Exhibit 5: World Copper Mine Reserves (in Thousand Metric Tons) by Country
  • Exhibit 6: Global Copper Mine Production (in Thousand Metric Tons) by Country for 2018 and 2019
  • Exhibit 7: Global Refined Copper Production by Country (in %): 2019
  • Competition
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • HVAC&R Systems Emerge as the Major Application Market for Copper Pipes and Tubes
  • Exhibit 8: Global HVAC Systems Market Size (in US$ Billion) for the Years 2019, 2022 & 2025
  • Market Poised to Benefit from the Use of Copper Pipes & Tubes in Industrial Heat Exchangers
  • Exhibit 9: Global Heat Exchangers Market Size (in US$ Billion) for the Years 2019, 2022 & 2025
  • Improving Tube Designs Drive Performance Improvements for Industrial Heat Exchangers
  • Copper Pipes & Tubes Continue Find Demand in Water Distribution Applications
  • Bactericidal Property Support Use of Copper Tubes in Water Distribution Systems
  • Despite Emergence of Alternate Materials, Plumbing Remains a Major End-Use Market for Copper Pipes & Tubes
  • Rising Prominence of Copper Tubes in Heating Systems
  • Direct-Exchange Geothermal Climate Control Systems
  • Condensing Tank-less Gas Water Heaters
  • Solar Thermal Systems
  • Waste Heat Recovery Systems
  • Medical Copper Tubing Market: A Promising Market
  • Manufacture of Medical Copper Tubing
  • Demand Surges for Copper Pipes & Tubes in Medical Gas Systems
  • Exhibit 10: Global Medical Copper Tubing Market by Tube Type for 2020E
  • Copper Tubes Face Threat from PEX in Medical Applications
  • Automotive Industry Presents Significant Potential for Copper Pipes & Tubes
  • COVID-19 Pandemic’s Impact on Automotive Production to Affect Demand for Copper Pipes & Tubes
  • Exhibit 11: World Automobile Production in Million Units for 2008-2022
  • Plastic-Coated Copper Tubes Address the Needs of Aggressive Environments
  • Press-Connect and Push-Connect Fittings Gain Prominence
  • Use of Cupronickel Tubes Gains Traction
  • Rise in Volumes of Pipes & Tubes Made from Recycled Copper
  • Rise in Demand for Special Types of Tubes
  • Threat of Substitution Looms Large on Copper Pipes & Tubes Market
  • Volatile Copper Prices: A Major Challenge for the Market
  • Exhibit 12: Global Copper Prices (in US$ Per Pound) for the Years 2009-2020
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • An Introduction to Copper Tubing Used in the US
  • HVAC Industry Presents Significant Growth Potential for Copper Tubes
  • Plumbing Remains a Major Application Segment
  • Water Distribution Systems Make Use of Copper Pipes
  • Exhibit 13: US Water and Wastewater Pipes Breakdown of Value Demand by Material for 2020
  • Despite Move towards Alternate Materials, Utilities Continue to Use Traditional Materials in Pipe Networks
  • Exhibit 14: US Municipal Water & Wastewater CAPEX Breakdown by Segment for 2018-2027
  • Exhibit 15: Pipe Equipment Spend in Municipal Water & Wastewater Market by New, Replacement and Rehabilitation Segments in the US (2018-2027)
  • Exhibit 16: US Municipal Water & Wastewater CAPEX Spending on Pipes by Plastic Pipes and Traditional Pipe Materials for 2018-2027
  • Construction Industry Outlook: A Key Determinant of Growth in Pipes Market
  • Exhibit 17: US Construction Spending in US$ Billion for the Period January 2012 to January 2020
  • Housing Projects Scenario
  • Exhibit 18: Key Indicators for US Residential Construction Market
  • Exhibit 19: New Privately-Owned Housing Units Authorized in Permit-Issuing Places for Mar-2019 to Mar-2020
  • CANADA
  • JAPAN
  • Market Overview
  • Exhibit 20: Japanese Production of Copper Pipes & Tubes (in Thousand Tons) for 2012-2019
  • Exhibit 21: Japanese Copper Pipes & Tubes Market Breakdown of Export Value by Country for 2019
  • CHINA
  • Market Overview
  • Copper Pipes & Tubes Find Use in Plumbing Applications
  • EUROPE
  • Market Overview
  • Exhibit 22: Heating and Plumbing Pipes Market Breakdown of Consumption by Material in Western Europe & Eastern Europe: 2020E
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
IV. COMPETITION
  • Total Companies Profiled: 103
Note: Product cover images may vary from those shown
  • Cerro Flow Products LLC
  • Fabrika bakarnih cevi Majdanpek
  • Foshan Huahong Copper Tube Co. Ltd.
  • Furukawa Electric Co. Ltd.
  • Golden Dragon Precise Copper Tube Group, Inc.
  • Grupo IUSA, S.A. de C.V.
  • Cambridge-Lee Industries LLC
  • H& H Tube
  • Hailiang Group Co. Ltd.
  • KME Germany GmbH
  • Kobelco & Materials Copper Tube, Ltd.
  • Luvata Oy
  • MM Kembla
  • Mueller Industries, Inc.
  • Ningbo Jintian Copper (Group) Co. Ltd.
  • Poongsan Corporation
  • Qingdao Hongtai Copper Co. Ltd.
  • Shanghai Metal Corporation
  • Wieland-Werke AG
Note: Product cover images may vary from those shown
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