New York, March 02, 2023 (GLOBE NEWSWIRE) -- The Global Plastic (PVC) Pipes Market is estimated to be valued at over US$ 37.34 Billion as of 2023. Plastic (PVC) Pipes are projected to increase at 5.5% CAGR and is expected to be valued at around US$ 63.78 Billion by 2033 end.
The Plastic (PVC) Pipes Market is expected to grow at an impressive rate during the forecast period owing to their increasing demand in residential, commercial and industrial sectors. The growth of the Plastic (PVC) Pipes Market is majorly driven by factors such as growing urbanization and industrialization, increasing infrastructure development activities globally, rising demand for energy-efficient products, and increasing government initiatives for environment protection. Plastic (PVC) Pipes offer excellent cost savings compared with traditional metal or concrete piping systems as they require less maintenance costs over their lifespan. Additionally, technological advancements in plastic pipe production techniques have enabled manufacturers to produce Plastic (PVC) Pipes with higher strength properties that could withstand extreme temperatures and pressures.
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The global Plastic (PVC) Pipes market has witnessed significant growth over the past few years and is expected to continue growing at a steady rate during the forecast period. The growth of the market can be attributed to several factors such as increasing demand from end-use industries, the growing need for water conservation, and the need for improved infrastructure in developing countries. The market is highly competitive with the presence of several players, and it is expected to remain so in the coming years.
Market Drivers:
The Plastic (PVC) Pipes market is expected to witness significant growth during the forecast period due to several factors. One of the primary drivers of the market is the increasing demand from end-use industries such as water supply, sewage, and irrigation. Plastic (PVC) Pipes are widely used in these industries due to their lower cost, ease of installation, and corrosion resistance. The need for water conservation is also driving the growth of the Plastic (PVC) Pipes market. Plastic (PVC) Pipes are used in water supply systems as they are lightweight and can be easily transported, installed, and repaired.
The growing need for improved infrastructure in developing countries is another driver of the Plastic (PVC) Pipes market. Governments in developing countries are investing heavily in infrastructure development, including the construction of water supply and sewage systems, which is driving the demand for Plastic (PVC) Pipes. The increasing adoption of Plastic (PVC) Pipes in the oil and gas industry for transportation of various fluids is also expected to drive the growth of the market.
Market Restraints:
Although the Plastic (PVC) Pipes market is expected to witness significant growth during the forecast period, there are several factors that are expected to restrain the growth of the market. One of the primary factors is the increasing concern over environmental pollution caused by plastic waste. The disposal of plastic waste is a major challenge and can have a significant impact on the environment. The growing concern over environmental pollution is expected to lead to increased regulations, which could impact the growth of the Plastic (PVC) Pipes market.
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The fluctuating prices of raw materials such as polyvinyl chloride (PVC), high-density polyethylene (HDPE), and polypropylene (PP) are also expected to restrain the growth of the Plastic (PVC) Pipes market. The prices of these raw materials are highly dependent on the prices of crude oil and natural gas, which can be volatile.
Market Players-
- Aliaxis Group S.A
- Sekisui Chemical Co., Ltd.
- Wienerberger AG
- Mexichem SAB de CV
- JM Eagle, Inc.
- ASTRAL POLYTECHNIK LIMITED
- China Lesso Group Holdings Ltd.
- Geberit AG
- Nan Ya Plastics Corp.
- Finolex Industries Ltd.
- Chevron Phillips Chemical Company
- Formosa Plastics Corporation and more
Market Segmentation:
The global Plastic (PVC) Pipes market can be segmented based on type, application, and region.
Based on type, the market can be segmented into PVC, HDPE, PP, and others. PVC is the most widely used type of plastic pipe due to its low cost, durability, and corrosion resistance.
Based on application, the market can be segmented into water supply, sewage, irrigation, oil and gas, and others. Water supply is the largest application segment due to the increasing demand for water conservation and the need for improved infrastructure in developing countries.
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Regional Analysis:
The global Plastic (PVC) Pipes market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific is expected to be the largest market for Plastic (PVC) Pipes during the forecast period due to the increasing demand for improved infrastructure in developing countries such as India and China. North America and Europe are also expected to witness significant growth during the forecast period due to the increasing adoption of Plastic (PVC) Pipes in the oil and gas industry.
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