by PVC pipes are used in various plumbing applications as they are cost-effective, chemical resistant and durable. Being light in weight and easy to install, PVC pipes offer advantages over conventional pipes. They are widely used for potable water supply systems, sewage systems, drainage pipes and conduit pipes for wires and cables. Rising consumer preference for low maintenance plumbing solutions is expected to drive the demand for PVC pipes globally.
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 key trends:
One of the key trends in the PVC pipes market is the growing adoption in irrigation and agriculture applications. PVC pipes do not rust, corrode or leak and can withstand varied climatic conditions. They are increasingly used for drip and sprinkler irrigation systems to supply water in farms from borewells or canal systems. Their lightweight and flexible nature allows for easy installation in various terrains. In addition, newer additives are making PVC pipes UV resistant for open field use. This is augmenting their popularity in the agriculture sector. Another trend is the introduction of green PVC pipes made from recycled materials. Leading manufacturers are focusing on developing eco-friendly products to meet sustainability goals. PVC pipes incorporated with recycled PVC are finding wider usage in developed markets of North America and Europe.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to requirements for large capital investments in manufacturing units and established brand value.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes and undifferentiated products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate since raw materials required for manufacturing PVC pipes are globally available.
Threat of new substitutes: The threat of new substitutes is high as materials like copper, steel, and concrete are used for similar applications.
Competitive rivalry: Intense competition exists among existing players.
Key Takeaways
The Global PVC Pipes Market Size is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing infrastructural development activities across the globe. Rapid urbanization and industrialization is propelling the growth of the market.
The Asia Pacific region dominates the global PVC pipes market and is expected to continue its dominance over the forecast period. Growing construction industry in emerging economies like China and India is driving the demand in the region. China holds the largest share in the global market and its huge production capacities and growing export activities are boosting the regional market growth.
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. Key players are focusing on expansion of production facilities and new product development to strengthen their presence in the global market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
