1 Global PEX Pipe Market Size (Revenue) and CAGR (2024-2033)
Global PEX pipe market generated revenue of USD 1728.23 Million in 2024 and is expected to grow to USD 2710.01 Million by 2033, the compound annual growth rate (CAGR) from 2024 to 2033 is projected to be 4.88%, showing a significant upward trend. This growth is expected to reflect the increasing demand for PEX pipes globally, especially in the construction and infrastructure sector. PEX pipes have become a popular choice for residential heating and cooling systems as well as commercial water supply applications due to their superior heat, pressure, and corrosion resistance. The PEX pipe market is expected to continue expanding with the accelerated urbanization across the globe and growing demand for sustainable and eco-friendly construction materials. Moreover, steady global macroeconomic growth, especially in emerging markets, is expected to further boost the PEX pipe market. Thus, it is foreseen that the global PEX pipe market will continue to maintain its growth momentum over the next few years, providing huge market potential and development opportunities for companies in the industry.
Figure Global PEX Pipe Market Size (M USD) Outlook (2024-2033)
2 PEX Pipe Industry Technology Status and Trends
The three most common methods of crosslinking polyethylene are as follows:
Peroxide – Peroxides are heat-activated chemicals that generate free radicals for crosslinking. This is called the Engel Process.
Moisture-cured Vinylsilane – This method involves grafting a reactive silane molecule to the backbone of the polyethylene. This is called the Silane Process.
Beta Irradiation – This method involves subjecting a dose of high-energy electrons to the PE. This is called the Radiation Process.
Growing demand for environmentally sustainable and eco-friendly products:
As an important material in human production and life, plastics are consumed in huge quantities every year but their recycling rate is low. With the call for global environmental protection in recent years, the renewable plastics industry has developed rapidly. The recycling of plastics has become a global trend. At present, some PEX Pipe companies have begun the research and development and production of this type of products. Such as, in 2022, Uponor delivered post-industrial PEX waste from its production to Wastewise. At Wastewise, the waste plastic polymers were broken down into oil for input at Neste that refined and upgraded the liquified waste plastic. The resulting drop-in feedstock underwent Borealis’ cracking and polymerization processes to produce advanced recycled cross-linkable PE raw material. Finally, Uponor is using the polyethylene to create new PEX pipe systems, which can then be used in the construction sector for heating, plumbing and cooling purposes once more – eligible even for sensitive applications with high requirements, for example those used for drinking water systems. The whole value chain is traceable via ISCC PLUS certified mass-balancing. In January 2023, the advanced recycled PE was delivered and Uponor has now produced the first circular PEX pipe for drinking water and underfloor heating application. With more than 80% yield of ISCC compliant material, this pilot proofs the chemical recycling of PEX waste towards a closed loop and PEX circularity.
3 Global PEX Pipe Revenue and Share by Type (2019-2024)
In 2019, the PEX-B type accounted for almost half of the total revenue of the global PEX Tubes market at $675.33 Million, accounting for 47.37% of the total revenue. In the subsequent years, despite the fluctuation in market share, the overall revenue of PEX-B has shown a continuous growth trend, amounting to $635.18 Million in 2020, $702.64 Million in 2021, $746.06 Million in 2022, $771.38 Million in 2023, and reach $805.23 Million by 2024. In terms of market share, PEX-B has also maintained a relatively stable trend, although it has slightly decreased from 47.37% in 2019 to 46.59% in 2024, it has remained above 46% overall, showing the significant position of PEX-B in the global PEX pipe market. These figures indicate that despite facing competition from PEX-A and PEX-C, PEX-B continues to hold a significant share of the global market due to its unique properties and application advantages, and continues to generate a steady revenue stream for the key players in the market.
Table Global PEX Pipe Revenue (Million USD) by Type (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
PEX-A | 539.20 | 511.46 | 571.49 | 619.10 | 642.63 | 676.99 |
PEX-B | 675.33 | 635.18 | 702.64 | 746.06 | 771.38 | 805.23 |
PEX-C | 211.19 | 198.85 | 221.66 | 231.70 | 235.14 | 246.09 |
Total | 1425.72 | 1345.48 | 1495.80 | 1596.86 | 1649.16 | 1728.32 |
Table Global PEX Pipe Revenue Market Share by Type (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
PEX-A | 37.82% | 38.01% | 38.21% | 38.77% | 38.97% | 39.17% |
PEX-B | 47.37% | 47.21% | 46.97% | 46.72% | 46.77% | 46.59% |
PEX-C | 14.81% | 14.78% | 14.82% | 14.51% | 14.26% | 14.24% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
4 Global PEX Pipe Revenue and Market Share by Application (2019-2024)
Residential application accounted for major revenue and market share in the global PEX tubes market. In 2019, residential application accounted for $860.28 million in revenue and 60.34% of the total market share, a proportion that fluctuated slightly but remained around 60% in the subsequent years. In 2020, revenue from residential application declined to $811.20 million, and the market share edged lower to 60.29%. By 2021, revenues rebounded to USD 900.96 Million and the market share remained at 60.23%. In 2022, revenues grew to USD 962.77 Million and the market share increased slightly to 60.29%. In 2023, revenues increased further to USD 991.54 Million and the market share declined marginally to 60.12%. The revenue from residential applications reach USD 1,036.83 Million by 2024 with a slight decrease in market share to 59.99%.
These figures indicate that although the global PEX pipe market is also growing in terms of commercial applications, residential applications continue to be the dominant force in the market, accounting for the majority of the revenue and market share. The steady revenue and market share of residential applications reflects the continued demand for PEX pipes in residential construction and remodeling projects across the globe. With increasing urbanization and the quest for comfortable living conditions across the globe, the demand for PEX pipes for residential applications is expected to continue at a high level, providing a stable source of revenue for the key players in the PEX pipes market.
Table Global PEX Pipe Revenue (Million USD) by Application (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Residential | 860.28 | 811.20 | 900.96 | 962.77 | 991.54 | 1036.83 |
Commercial | 565.44 | 534.28 | 594.84 | 634.09 | 657.62 | 691.49 |
Total | 1425.72 | 1345.48 | 1495.80 | 1596.86 | 1649.16 | 1728.32 |
Table Global PEX Pipe Revenue Market Share by Application (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Residential | 60.34% | 60.29% | 60.23% | 60.29% | 60.12% | 59.99% |
Commercial | 39.66% | 39.71% | 39.77% | 39.71% | 39.88% | 40.01% |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
5 Global PEX Pipe Revenue and Sales Volume Share by Players (2019-2024)
The sales share data of Uponor, REHAU, and GF Piping System in the global PEX tubing market shows their competitive position and market performance in the industry. Uponor’s market share of 12.46% in 2019 increases to 13.46% by 2024, indicating that the company’s share in the global market has been steadily increasing year by year, the showing its strong market growth momentum. REHAU’s market share slightly decreases from 6.74% in 2020 to 6.67% in 2024, which may mean that the company is becoming less competitive in the global market or that other competitors are increasing their market share. GF Piping System’s market share gradually increases from 5.82% in 2019 to 5.94% in 2024, which is a small increase but still shows a steady growth of the company in the market.
Overall, all three companies have maintained a relatively stable, albeit fluctuating, market share in the global PEX pipe market, showing their position as major players in the market. Uponor’s growth can be attributed to its strong brand presence and market expansion strategy, while REHAU and GF Piping System have maintained their position, albeit with slow growth, in the global competitive position in the market. These figures reflect the competitive landscape of the global PEX tubing market and how these companies are adapting to market changes and consumer demands to maintain and enhance their market share. As the market continues to evolve and new technologies emerge, the market share of these companies may continue to change, but their performance is critical to understanding trends across the industry.
Table Global PEX Pipe Sales Volume Share by Player (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
12.46% | 13.09% | 13.12% | 13.41% | 13.28% | 13.46% | |
REHAU | 6.74% | 6.64% | 6.39% | 6.62% | 6.61% | 6.67% |
GF Piping System | 5.82% | 5.81% | 5.87% | 5.93% | 5.85% | 5.94% |
… | … | … | … | … | … | … |
Total | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
Uponor’s revenue figures in the global PEX Tubes market show its economic performance and market position in the industry. In 2019, Uponor’s revenue was $182.85 Million, accounting for 12.82% of the global market. In the following years, the company’s revenues maintained an overall trend of continuous growth: it reached $182.31 Million in 2020, increased to $204.35 Million in 2021, and further rose to $220.72 Million in 2022. Uponor’s revenues continued to increase to $225.57 Million in 2023, and are projected to increase to $235.61 in 2024 Million dollars. These figures indicate that Uponor has maintained a steady revenue growth trend overall, which may reflect the company’s strong competitiveness in the PEX tubes market, effective market strategies, and continued investment in product quality and innovation. Uponor is expected to continue its leading position in the global PEX tubes market in the coming years as the company continues to expand its market share and adapt to changes in the market.
Figure Uponor Revenue (M USD) 2019-2024
6 Global PEX Pipe Market Sales Volume by Region
The sales figures for the U.S. PEX pipe market show the country’s market performance between 2019 and 2024. In 2019, the U.S. market accounted for 25.45% of the global market with sales of 444.4 Million Meters. By 2023, sales in the U.S. market reach 524.2 Million Meters and grow to 544.8 Million Meters in 2024.
The growth in demand for PEX pipe in the U.S., one of the world’s largest economies, also reflects the breadth and importance of the product’s application in residential and commercial construction. With the further expansion of the U.S. market, sales of PEX tubes are expected to continue to gain momentum in the coming years.
Figure United States PEX Pipe Market Sales Volume (2019-2024)
Table Global Finance & Accounting Outsourcing (FAO) Revenue (Million USD), Region Wise (2019-2024)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
United States | 14303 | 16115 | 15092 | 16880 | 18725 | 20632 |
Europe | 9322 | 10686 | 9915 | 11254 | 12347 | 13524 |
China | 1288 | 1504 | 1438 | 1629 | 1834 | 2029 |
Japan | 2503 | 2801 | 2536 | 2760 | 3003 | 3283 |
India | 1031 | 1185 | 1117 | 1220 | 1413 | 1563 |
Southeast Asia | 588 | 689 | 648 | 752 | 821 | 910 |
Latin America | 928 | 1136 | 1022 | 1117 | 1202 | 1311 |
Middle East and Africa | 726 | 761 | 772 | 930 | 1068 | 1146 |
Others | 522 | 571 | 498 | 515 | 613 | 665 |
Total | 31212 | 35448 | 33038 | 37057 | 41026 | 45062 |
