The global polyvinyl chloride pipes market share is expected to gain a significant traction in the forthcoming period attributing to the growing needs from diverse sectors. The CAGR for PVC pipes market is likely to register 7.1% in the next five years.
Polyvinyl chloride offers safe and convenient advantages in the field of infrastructure, consumer goods, and electrical appliances. For instance, PVC can be found for public infrastructures, sewage pipes, and power lines. In addition, they serve in industrial and agricultural sector. Consumer products include synthetic leather, food wraps, and other applications.
Drivers:
Increasing Demand For Polyvinyl Chloride Pipes Triggers the Market Growth
The polyvinyl chloride pipes market is more likely driven by the increase in demand from the pharmaceutical industry and consumer appliances. The pharmaceutical industry was valued at USD 40 billion in 2019 and is expected to enlarge in the near future. PVC pipes are highly stable and offer durability over metals. The risk of corrosion gets eliminated with the use of polyvinyl chloride pipes for HVAC and consumer appliances. The consumer demand for flexibility in PVC pipes is used in the production of tubes, oxygen tents, and bags for plasma transfusions.
Additionally, construction sector is the major end-user of PVC pipes. According to the world report by International Labour Organization, the rise in growth for construction industry sums upto 6% in 2020, also it is predicted that the industry will grow by leap and bounds until 2030. Therefore, there can be lucrative growth opportunities for applications of PVC pipes.
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Restraints:
Although polyvinyl chloride pipes come with high-end features, they can hardly withstand environment stress and turn weak as they weather in extreme atmospheric conditions. Also, PVC pipes are weak against UV rays and shed their life due to external impact. Moreover, the global market has witnessed a fierce competition between key players wherein consumers are getting a huge variety of PVC pipes and products.
Opportunities:
As mentioned the boom in construction industry is expected to trigger the industry growth. Likewise, other sectors such as chemicals, mining, and pharmaceuticals are more likely to create lucrative opportunities for industry growth in the forthcoming years. Rise in revenue share, business opportunities, and increase in applications of PVC pipes for agriculture is likely to result in opportunity generation for the market.
Segmentation:
The global polyvinyl chloride pipes market is segmented based on type, end-user, and application.
Plasticized pipes to Result in a Significant Share
By type, the polyvinyl chloride pipes market segmentation comprises post chlorinated, plasticized, and non-plasticized. Plasticized pipes are likely to account for a significant market share attributing to high demand and the popularity of plastic coated pipes for residential construction. For commercial construction, non-plasticized PVC pipes are preferred due to their versatility and ductility.
Water Sewerage is likely to Expand at a high rate
By end-user, the polyvinyl chloride pipes market segmentation comprises water supply, oil and gas, irrigation, sewerage, and others. Water sewerage is likely to expand at a high pace catering to the construction demands in the urban areas. Moreover, the cost of transportation for PVC pipes are much economical since they are easy to handle. The plasticized PVC pipes comply with environment regulations and recyclable.
Regional Segmentation:
Asia Pacific is likely to Result in a Significant Share
Based on geographical segmentation, the market for polyvinyl chloride pipes market comprises North America, Europe, Asia Pacific, Middle-East, and Africa. Asia Pacific is likely to register a significant growth attributing to the increase in market and revenue share. Presence of a vast population, industrial competence, and favorable market conditions are likely to encourage the regional market growth.
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Key Players:
The global polyvinyal chloride pipes market report comprises Astral Polytechnik, China Lesso Group Holdings, National Pipe and Plastics Inc., and Egeplast A.S.
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