Gains will be driven by strong growth in crude oil and natural gas activity.
U.S. demand for pipe is expected to rise 7.3% per year to $63.5 billion in 2018, according to a new study by market research firm The Freedonia Group. Gains will be driven by strong growth in crude oil and natural gas activity, as pipe is used extensively in drilling and oil and gas pipeline applications.
Demand also will be supported by a projected rebound in building construction expenditures. Increasing housing completions and strong interest in kitchen and bathroom renovation projects will boost demand for drain, waste and vent pipe, while growth in nonresidential building construction will spur demand for conduit.