CLEVELAND, June 1, 2022 /PRNewswire/ -- The size of the US behind-the-wall plumbing industry skyrocketed in 2021, due primarily to spikes in the costs of many raw materials integral to production, a new Freedonia Group analysis finds. Some of the largest of these increases were seen in HDPE, PVC, and copper pipe:
PVC and HDPE price increases were fueled by a residential construction spending boom, as PVC is used in a wide variety of home construction products. Winter storms hitting a major PVC resin supplier in February 2021 further exacerbated shortages and pushed prices upward.
Spiking copper pipe prices were caused by a general increase in demand for copper, as well as other factors such as tariffs and mining closures related to COVID-19 safety concerns.
Value demand changes in 2022 and 2023 are also anticipated to be heavily impacted by material pricing, finds a new Freedonia Group analysis. While labor shortages and supply chain issues are expected to remain an issue through 2022 – keeping raw material costs unusually high – prices are projected to start coming back down in 2023. This will lead to a drop in the value of the behind-the-wall plumbing market in that year, despite a sustained increase in sales of pipe in volume terms.
Behind-the-Wall Plumbing Product Market to Top $15 Billion in 2025
The Freedonia Group projects demand for behind-the-wall plumbing products to advance 8.1% annually to $17.9 billion in 2025. Gains will be boosted by such factors as:
design trends toward more and larger bathrooms and larger kitchens
above-average increases in single-family housing completions in the first part of the forecast period
continued homeowner interest in kitchen and bathroom renovation projects
a rebound – beginning in 2022 – in the construction of such commercial structures as office buildings, medical facilities, and educational institutions, which often have extensive fire suppression systems and multiple bathrooms
Want to Learn More?
Behind-the-Wall Plumbing, now available from The Freedonia Group, provides historical data for 2010, 2015, 2019, 2020, and 2021 and forecasts for 2022, 2025, and 2030 for both value and unit behind the wall plumbing product demand by product, application, and market. The study also identifies leading suppliers in key product segments and discusses factors that affect the marketing and distribution of behind-the-wall plumbing products in the US.
The products covered in this study are:
pipe (plastic and metal)
fittings (tees, elbows, couplings, pipe supports, other fittings)
The applications for behind-the-wall plumbing products are:
fire suppression systems
drain, waste, and vent (DWV)
radiant flooring systems
About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
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SOURCE The Freedonia Group