manufacturers

The GIA further indicated that the pipe and fittings market contracted back in 2008 and 2009 due to the global recession and decreases in infrastructure spending.The report further stated that of all global markets, Europe is the largest market for pipe and fittings in terms of demand.In the long term, the demand will be further boosted by growing economies who will need stainless steel pipe fittings to help assist them to increase urbanisation and help to develop their economies.Despite the contractions in the market, the market redoubled in 2010 as countries increased their capital spending.With the market set to be worth 2 billion in the next five years, increased demand will be seen particularly in the water and sanitation industry.The report further added: “Underlying pipe demand from emerging markets will be fuelled by spending on infrastructure Ball Valves manufacturers projects such as sewage treatment, water distribution/supply and electrification.Moreover, increases in world energy requirements will help increase demand for pipes, which will lead to the establishment of new oil and gas infrastructure.Furthermore, the increased growth of the market will be driven in particular by the surge in demand for malleable pipe fittings from companies based in the oil and gas, construction, mechanical and automotive engineering, agriculture and irrigation industries, GIA stated.Despite Europe being the best market, Asia-Pacific and the Middle East, both developing economies will be vital in helping to drive demand for the industry.In the construction and automotive industry, it is predicted that high-grade pipes will be demanded by companies for the safe operation of machines and vehicles.“A combination of greater government emphasis on irrigation, strong private sector participation in water supply projects, and improved multi-lateral lending for water-related sectors presents huge potential in this segment,” the GIA study stated.Research conducted by Global Industry Analysts (GIA) suggests that whilst the current economic climate has affected the pipes market, the segment should recover in 2013 as the crushing recession in the Eurozone starts to ease.”