-- Market Synopsis
The global market for PVC Pipes is anticipated to expand at 7.13 % CAGR over the review period (2016-2023) owing to their lightweight, easy installation, and easy maintenance asserts Market Research Future (MRFR). Several industries are using PVC Pipes to multiple degrees which makes them the leader among plastic pipes and is expected to reach USD 70 million by the end of 2023. PVC PIPES are extensively used in sewers, water service lines, drain-waste-vent (DWV), conduit, irrigation, water service lines, water mains, and other industrial installations.
Industry News
Pratibha Industries has announced that a joint venture with Ceylex Engineering has received a contract worth Rs. 32.31 crore for the construction of Mulankavil water supply scheme and sanitation improvement project at Sri Lanka. The second project is for laying of DI/PVC pipes and fittings for transmission and construction of 1500 cum capacity water tower in Naiwala area, Sri Lanka for Rs. 35.56 crore.
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Asia Pacific Leads the Global PVC Pipes Market
Geographically, the market for PVC Pipes spans across North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).
Asia Pacific dominates the PVC Pipes market owing to the rapid urbanization and industrialization in this region. China is the largest producer and consumer and dominates the PVC Pipes Market. High demand in water supply, irrigation, plumbing, sewage, oil and gas, and others are anticipated to spur the market growth in this region. Also, with the growing demand for PVC pipes in building and construction, agriculture, telecom industry, housing, and others in India, China, and Indonesia has boosted the market growth in this region closely followed by North America and Europe.
Drivers and Restraints Affecting the Market Growth
PVC Pipes are highly used in construction industries that include applications such as water supply, housing and commercial, irrigation, and sewage and drainage. Penetration of market giants with expanding distribution network along with the notable role played by the government in developing the real estate sector and irrigation infrastructure is anticipated to impact the global market growth positively. With heat and electrical insulation properties, PVC Pipes are also gaining acceptance in electrification application.
Moreover, with the rapid industrialization and urbanization along with infrastructural development, the market is sure to showcase a significant growth during the assessment period. Also, with the adoption of advanced and innovative technology and efficient agricultural practices, the market is expected to galvanize in the coming years.
On the Flip Side, the carcinogenic property of PVC pipes along with toxicity to the environment might hamper the market growth globally. PVC pipes are fragile and prone to thermal deformation, thus cannot be used to transfer fluids at room temperature. Besides, availability of substitutes such as steel, cross-linked polyethylene (PEX), high-density polyethylene (HDPE), and more are restricting the global market growth for PVC pipes over the review period.
Additionally, usage of PVC Pipes for the supply of drinking water might be hazardous to health and might taste as that of PVC Pipes. Disposal of PVC pipes and fittings also emits greenhouse gases which further pollute the environment to a large extent. Such factors can inhibit the market growth to a great extent in the coming years.
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Global PVC Pipes Market: Segmental Analysis
The Global PVC Pipes Market has been segmented on the basis of Application, Types, Region, and End users.
By Mode of Type, the global market for PVC Pipes has been segmented into plasticized, unplasticized, and post-chlorinated. Among these, CPVC pipes are anticipated to showcase the fastest growth in terms of production over the assessment period. Moreover, increasing adoption of CPVC pipes over PVC or galvanized pipes will lead to the growth in the coming years.
By Mode of Application, the market has been segmented into plumbing, sewerage, irrigation, water supply, oil & gas, and others. Among these, 70 % PVC pipes and fittings stem accounts from the agriculture segment which includes water supply and irrigation. The remaining 30 % accounts for the building segment which incorporates sewage pipes, plumbing, and drainage.
By Mode of End-Users, the market has been segmented into building and construction, agriculture, telecom industry, housing, and others. Among these, PVC holds a larger share in the construction sector for building water supply along with sewer and drainage systems.
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Release ID: 401321
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