The Global PVC Pipes Market is estimated to be valued at US$ 62.34 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
PVC pipes are used for potable water supply, wastewater disposal, irrigation and sewage systems. PVC pipes have advantages such as durability, resistance to corrosion, lower life-cycle costs and ease of installation over other pipes. They find applications in plumbing, drainage and surface run-off systems in residential, commercial and industrial infrastructures.
Market key trends:
One of the key trends in the PVC pipes market is the rising construction activities across both residential and non-residential sectors worldwide. Rapid urbanization and growing population are fueling the demand for new residential and commercial constructions. According to Global Construction 2030 report, the global construction output is projected to grow by 85% to US$ 15.5 trillion by 2030. Furthermore, increasing investments in infrastructure projects such as roads, railways, power transmission and water supply are also augmenting the growth of PVC pipes market. PVC pipes are extensively used in construction industry due to their durability and strength. Thus, strong growth in construction sector is expected to drive the demand for PVC pipes during the forecast period.
SWOT Analysis
Strength: PVC pipes are cost-effective, durable and require low maintenance. They are corrosion resistant and can withstand harsh weather conditions.
Weakness: PVC material is combustible in nature and releases toxic fumes when burnt. Frequent exposure to sunlight can cause degradation of material over time.
Opportunity: Increasing investments in infrastructure development and construction industry across regions is driving the demand for PVC pipes. Growing need for sustainable and durable piping solutions also presents an opportunity.
Threats: Stringent regulations regarding the use of PVC may restrict growth. Fluctuations in raw material prices can increase the overall costs.
Key Takeaways
The Global Pvc Pipes Market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing infrastructure developments across both developed and emerging economies. Rapid urbanization and replacement of aging pipelines are further fueling market growth.
Regional analysis
Asia Pacific dominates the global Pvc Pipes market and is expected to grow at a highest CAGR during the forecast period. Growing construction industry and government investments in infrastructure development projects in countries such as China, India are driving the regional market. Europe and North America also hold significant shares in the global market due to ongoing pipeline replacement activities.
Key players
Key players operating in the Pvc Pipes market are China Lesso Group Holdings Limited, Hebei Bosoar Pipe Co. Ltd, Plásticos Ferro S.L., Fujian Aton Advanced Materials Science & Technology Co. Ltd., Pipelife Austria Gmbh & Co KG., Georg Fischer Ltd., Astral Pipes, Aliaxis Group S.A., JM Eagle, Inc., Supreme Industries Ltd., and Vinidex Pty Ltd. Major players are focusing on new product launches and expansion strategies to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
