Growth within the Pipes & Fittings Market
Michelle Turner, Market Research Analyst at AMA Research, states “The short-term outlook for the UK pipes and fittings market remains weak, with construction output in 2020 likely to be heavily affected by delays caused by the coronavirus (COVID-19) pandemic and will be felt in some ways through until 2024; however as market trends look set to continue and projects are largely delayed as opposed to cancelled, forecasts are for output to be widely spread over the forecast period and remaining positive.”
We saw growth in the pipes & fittings market in 2019, it had shown an increase of 9% since 2015. However, 2020 is proving to be a tough year for growth in all construction sectors. With the end of 2019 winter storms, many of which closed down some sites entirely. Brexit took up most of the start of 2020 continuing to cause top decision makers to waiver. The Covid-19 pandemic is continuing to cause issues throughout the country, even with the newest government advice on how to re-open businesses things remain uncertain.
The performance of the UK pipes and fittings market is and has always been influenced by the overall trends in the housebuilding market, non-residential construction sectors, as well as the levels of refurbishment and home improvement styles and choices including niche market drivers such as the self-build and conservatory markets. This can be seen with the inclination of many choosing underfloor heating when making improvements to their home.
It is worth pointing out that plumbing pipe system products hold a larger share of the market versus Rainwater, Soil and Waste Products. However, with the increasing focus on green systems and eco-friendly solutions it will be interesting to see how this may change or even if it does.