PVC Pipes Market Share, Growth and industry 2023
The global PVC pipes market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 7.13 % during the forecast period (2016-2023).
The pvc pipes market has witnessed a tectonic surge over the past few years across the global market. The recent boom in the construction industry, coupled with rapid urbanization are some of the key factors aiding revenue growth of the market. The building and construction industry include commercial, residential, industrial, and commercial sectors. The industry is estimated to expand at a steady pace, and thus the demand for raw materials has increased. Pipes are crucial parts of the building and construction industry and find application in wastewater drainage systems, water pipelines, HVAC systems, gas pipelines, and others. Such factors are likely to promote the market growth across the globe.
On the contrary, surge in plastic waste is likely to restrict the market growth across the globe. Due to the ever-increasing population, rising use of daily products, growth in population, and the development of various forms of composites and plastics, the quantum of solid waste are on the rise. Plastic waste decomposes slowly and remains unburied for decades. It gets carried away with wind and water and adversely affects the ecology. Countries across the world have set mandates to control plastic waste and encourage reuse of plastic. Such regulations prove to be a restraint to produce plastic. With the rising plastic waste and strict mandates regarding plastic production, the PVC pipes market will experience a slowdown.
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The top players operating in the PVC pipes market include China Lesso Group Holdings Ltd. (China), Astral Polytechnik Limited (India), Advanced Drainage Systems, Inc. (the US), Polypipe Plc (UK), National Pipe and Plastics, Inc. (US), Amanco (Brazil), Egeplast A. S (Turkey), and others.
Global PVC Pipes Market: Segmental Analysis
The PVC pipes market has been segmented on the basis of types, application, and end user.
Based on the type, the PVC pipes market is segmented into plasticized, post chlorinated, and unplasticized.
The application segment comprises plumbing, sewerage, oil & gas, water supply, irrigation, and others. Of these, the PVC pipes are highly consumed by the sewerage application due to the recent boom in the construction industry.
By end users, the PVC pipes market is segmented into housing, agriculture, telecom industry, building & construction, and others. The building & construction and housing industries, including applications such as plumbing, sewerage, and water supply will continue to drive the market in the segment. PVC pipes used in the building & construction industry is mainly for the construction of plumbing, sewerage, and water supply.
Geographically, the PVC pipes market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, the Asia Pacific is likely to lead the regional market, with China being the largest consumer and producer of PVC pipes. The soaring demand from the building and construction industries, coupled with the rapid urbanization and industrialization in the region are some of the primary growth stimulants of the market. Mounting demand for PVC pipes in several applications like plumbing, sewage, oil & gas, water supply, irrigation, and others will promote the market growth. The surging demand from building & construction, agriculture, housing, and telecom industry, in countries like India, China, and Indonesia have further influenced the market growth to a large extent. Significant investments made in the chemical and agricultural industries have a positive impact on the overall market, thereby influencing its growth in the region. China dominates the regional market in terms of commercialization and demand for PVC pipes and fittings. Moreover, the existence of industry bigshots like Tessenderlo Group, China Lesso Group, Advanced Drainage Systems, Sekisui Chemical, Egeplast GmbH, Finolex is contributing to the market’s growth.
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