PVC Pipes Market to Reach US$ 76.30 Bn by 2022, Driven by Growing Construction and Infrastructure Activities

Market Overview:
The global PVC Pipes Market is estimated to be valued at US$ 55.59 Bn in 2021 and is projected to reach US$ 76.30 Bn by 2022, growing at a CAGR of 5.9% during the forecast period. PVC pipes find extensive applications in various industries such as agriculture, construction, water transportation, and electrical. The advantages of PVC pipes include durability, lightweight, cost-effectiveness, and corrosion resistance. The increasing population and urbanization worldwide are driving the demand for housing and infrastructure projects, thereby boosting the PVC pipes market. Additionally, the growing awareness of the benefits of using PVC pipes in water transportation and irrigation systems is further fueling market growth.

Market Key Trends:
One key trend in the PVC pipes market is the increasing adoption of PVC pipes in the construction sector. The construction industry is witnessing rapid growth, especially in developing economies, due to increasing urbanization and government initiatives for infrastructure development. PVC pipes offer advantages such as ease of installation, resistance to corrosion, and low maintenance costs, making them a preferred choice for plumbing, sewage, and drainage systems in construction projects. Moreover, the superior strength and flexibility of PVC pipes make them suitable for underground applications. The rising demand for sustainable and eco-friendly construction materials is expected to drive the adoption of PVC pipes in the construction industry, thereby contributing to market growth.

Segment Analysis:

The PVC Pipes market can be segmented based on application, type, and end-user industry. In terms of application, the market can be divided into irrigation, water supply, sewage, plumbing, and others. Among these, the water supply segment is expected to dominate the market during the forecast period. This can be attributed to the increasing demand for PVC pipes in residential and commercial buildings for the transportation of potable water. PVC pipes are preferred over traditional materials like steel and iron due to their lightweight, corrosion resistance, and cost-effectiveness.

Based on type, the PVC Pipes market can be categorized into rigid and flexible pipes. The rigid pipes segment is anticipated to hold a significant share in the market. The rigid PVC pipes offer high strength and durability, making them suitable for various applications, including construction, agriculture, and industrial sectors.

By end-user industry, the market can be segmented into agriculture, building & construction, sewage, and others. The building & construction segment is expected to dominate the market owing to the increasing construction activities worldwide. PVC pipes are widely used in plumbing, electrical, and HVAC systems in residential and commercial buildings.

Key Takeaways:

The global PVC Pipes Market Scope is projected to witness high growth, exhibiting a CAGR of 5.9% during the forecast period. The market is driven by several factors such as the increasing demand for PVC pipes in the building & construction industry, especially for water supply applications. Additionally, the advantages offered by PVC pipes such as corrosion resistance, lightweight, and cost-effectiveness are further propelling the market growth.

In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the PVC Pipes market. This can be attributed to the rapid urbanization, infrastructural development, and increasing agricultural activities in countries like China and India. Moreover, the availability of raw materials and low labor costs in the region are attracting major market players to invest in PVC pipe manufacturing facilities.

Key players operating in the PVC Pipes market include 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. These companies are focusing on product innovation, strategic collaborations, and expansion to strengthen their market presence and gain a competitive edge.

Read more @ https://www.insightprobing.com/pvc-pipes-market-is-estimated-to-witness-high-growth-opportunities-and-insights/

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