Dublin, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The "GCC CPVC Pipes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The GCC CPVC pipes market demonstrated its prominence in 2022, reaching a size of US$ 496.2 Million. The market is projected to experience significant growth, with expectations to reach US$ 655.9 Million by 2028. This growth will be driven by a solid compound annual growth rate (CAGR) of 4.83% during the period of 2023-2028.
CPVC Pipes: Revolutionizing Water Handling
Chlorinated polyvinyl chloride (CPVC) is a versatile thermoplastic material produced through the chlorination of PVC resin. CPVC is known for its ability to withstand high temperatures and greater flexibility compared to standard PVC. Consequently, it is widely used for manufacturing pipes that handle hot and cold water, as well as industrial liquids. CPVC pipes offer a host of advantages over conventional galvanized pipes, including extended service life, ease of installation and maintenance, enhanced safety, and resistance to corrosion.
In the GCC region, a growing emphasis on health, hygiene, sanitation, and wastewater management is driving the demand for lightweight, sustainable, and noise-reducing drainage pipes. As a result, CPVC pipes are gaining traction in both commercial and residential sectors throughout the region.
Market Drivers:
- Economic Diversification: GCC countries are actively diversifying their economies away from reliance on the oil and gas industry. Development projects like Saudi Vision 2030, NEOM City, Jeddah Waterfront, and Entertainment City are being introduced to attract tourists, creating opportunities for CPVC pipe manufacturers.
- Hospitality Sector Growth: Robust growth in the hospitality sector, driven by a rising number of cafes, hotels, restaurants, and religious tourism, presents lucrative prospects for CPVC pipe manufacturers.
- Infrastructure Development: Governments are investing in transportation, telecommunications, water distribution, agriculture, and other infrastructure projects, fueling the demand for CPVC pipes.
Key Market Segmentation:
The report provides an in-depth analysis of market trends and regional forecasts:
Applications:
- Plumbing
- Water Supply Systems and Chemical Industry
- Sewerage, Drainage, and Irrigation
- Others
Currently, plumbing is the largest application segment, accounting for the majority of the market share.
Regional Insights:
- Saudi Arabia
- UAE
- Kuwait
- Bahrain
- Oman
- Qatar
Saudi Arabia currently leads the GCC CPVC pipes market in terms of market share.
Competitive Landscape:
The competitive landscape of the market is analyzed in the report. Key players operating in the industry include:
- IKK Group
- AGM
- SAPPCO
- MMT Group
Key Questions Addressed in the Report:
- How has the GCC CPVC pipes market performed and what is its growth outlook until 2028?
- Which regions hold the key market potential for CPVC pipes in the GCC?
- What impact has COVID-19 had on the GCC CPVC pipes market?
- What are the major application segments in the GCC CPVC pipes market?
- What are the price trends for CPVC pipes?
- What is the value chain structure of the GCC CPVC pipes market?
- What are the key factors driving growth and challenges in the GCC CPVC pipes market?
- Who are the key players in the GCC CPVC pipes market, and what is the competitive landscape?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $496.2 Million |
| Forecasted Market Value (USD) by 2028 | $655.9 Million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Middle East |
For more information about this report visit https://www.researchandmarkets.com/r/n7dnkw
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