PVC Pipes Market worth USD 87.15 Billion by 2028, registering a CAGR of 5.79% – Report by Market Research Future (MRFR)
New York, Aug. 11, 2021 (GLOBE NEWSWIRE) — Global PVC Pipes Market Research Report: According to a comprehensive research report by Market Research Future (MRFR), “PVC Pipes Market Information by Type, Application, End Use and Region Forecast till 2028”, the market size is projected to be worth USD 87.15 Billion by 2028, registering a CAGR of 5.79% during the forecast period (2021 – 2028), The market was valued at USD 61.5 billion in 2020.
Market Scope:
Extrusion of compounded PVC resin is used to make PVC pipes. These PVC pipes are used to replace traditional metal pipes, which rust and are heavy, as well as having a high maintenance cost. PVC pipes are stronger, easier to install, have a longer lifespan, and are less expensive than alternative pipeline materials. PVC pipes are also recyclable and environmentally benign, making them suitable for a wide range of applications, including drinking water transportation, drainage systems, and modern fire-sprinkler systems.
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Competitive Landscape:
Key players operating in the global PVC Pipes market include
- China Lesso Group Holdings Ltd. (China)
- Astral Polytechnik Limited (India)
- Polypipe Plc (UK)
- Advanced Drainage Systems, Inc. (US)
- Amanco (Brazil)
- National Pipe and Plastics, Inc. (US)
- JM Eagle Inc (US)
- NAPCO (US)
- Finolex Industries Ltd (India), and
- IPEX Inc (Canada) among others.
Market USP:
Market Drivers:
During the study period, the increased acceptance of PVC pipes as an effective alternative to metal and concrete pipes in the construction industry is likely to be a major driving force for market expansion. Furthermore, the product’s easy-to-install property and durability features are projected to boost demand. Increased expenditures in the development of water and wastewater treatment facilities and infrastructure, as well as water supply networks across rural areas, are likely to boost market growth in the coming years. Additionally, the market is likely to benefit from increased investment in the expansion of water and wastewater treatment facilities. As a result of these reasons, the PVC pipe market is predicted to grow significantly over the assessment period.
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Market restraints:
PVC resin prices, on the other hand, are closely linked to world crude oil prices. Crude oil prices are extremely volatile due to the Organization of Petroleum Exporting Countries’ (OPEC) dominance, which controls 40% of the world’s oil supply. Furthermore, oil prices fluctuate due to political unrest, natural disasters, production costs (refining), and fluctuations in supply and demand. As a result, fluctuations in crude oil prices are projected to have a negative influence on worldwide market growth.
COVID-19 Analysis
The outbreak of COVID-19 has led in city lockdowns, border restrictions, and transportation network breakdowns throughout areas. This is predicted to have a substantial impact on global chemicals and materials distribution networks, supply chains, pricing, international trade, and manufacturing operations. The production of PVC pipes has decreased as a result of the COVID-19 pandemic, as major market players were forced to either halt or shut down their production facilities and other operations, or operate at a lower level of production to ensure the safety of their employees and prevent the spread of the novel coronavirus. Due to lower demand from end-use sectors, lower costs, and disruptions in the supply of raw materials, manufacturers have lowered their production capabilities.
Market Segmentation
The global PVC pipes market has been split into four categories: type, application, end use, and geography.
The global market has been classified into three categories: post-chlorinated, plasticized, and unplasticized. Due to their widespread application in the construction, chemical processing, and water treatment industries, the post-chlorinated category accounted for the highest market of over 50% in 2020.
Sewerage, plumbing, water supply, oil & gas, irrigation, and other applications make up the worldwide PVC pipes market. Due to the progressive replacement of metal and concrete pipes with PVC piping systems in water supply applications, the water supply segment accounted for the biggest share of 22.63 percent in 2020.
By end use, the worldwide PVC pipes market has been divided into agricultural, construction, telecommunications, and others. Due to the widespread use of PVC pipes in agricultural irrigation systems, the agriculture category led the global PVC pipes market with a value share of 44.69 percent in 2020.
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Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa are the regions in which the worldwide PVC pipes market is divided.
Due to the region’s rapid industrialization and commercialization, Asia-Pacific held the greatest market share of 45.6 percent in 2020. Furthermore, rising expenditures in irrigation and water supply infrastructure have had a favorable impact on regional PVC pipe demand.
In the year 2020, Europe had the second-largest market share of the worldwide PVC Pipes market. In 2020, the regional market was estimated to be worth more than USD 5,000 million. Germany has a greater regional market share and is predicted to grow at a faster rate throughout the study period.
Because of its numerous applications in agriculture and construction, PVC Pipes are projected to be in high demand in North America. The United States is the most important contributor to North America’s regional market growth.
Segmentation of Market covered in the research:
Market Information by Type (Post-chlorinated, Plasticized, and Unplasticized), Application (Sewerage, Plumbing, Water Supply, Oil & Gas, Irrigation, and Others), End Use (Agriculture, Building & Construction, Telecommunication, Others), and Region (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa)—Forecast till 2028
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