PVC Pipes Is Fastest Growing Segment Fueling Growth Of Global PVC Pipes Market

PVC Pipes Market


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 Overview:
PVC pipes are extensively used in irrigation, sewerage, plumbing, and drainage applications. They are durable, corrosion resistant, light weight and cost effective. With increasing construction activities globally, the demand for PVC pipes is growing rapidly.

Market key trends:
One of the key trends fuelling the growth of the PVC pipes market is growing urbanization. Rapid urbanization is increasing infrastructure development activities across both residential and commercial sectors. According to the UN, currently around 55% of the world's population lives in urban areas and is projected to increase to 68% by 2050. Consequently, the demand for durable and cost effective PVC pipes for water supply, sewage and drainage systems in residential and commercial buildings is rising significantly. This is driving the growth of the PVC pipes market.

Segment Analysis
The global Pvc pipes market is segmented based on product type, application, and region. Based on product type, the market is segmented into chlorinated PVC pipes, unplasticized PVC pipes, and plasticized PVC pipes. The plasticized PVC pipes sub-segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is owing to the key properties offered by plasticized PVC pipes such as lightweight, easy installation, and high chemical resistance.

Key Takeaways
The Global Pvc Pipes Market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing construction activities and growing infrastructure development projects across the globe.

Regional analysis - Asia Pacific dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to significant construction activities and improving infrastructure in countries like China and India.

Key players - 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.

Read More - https://www.marketwebjournal.com/rising-demand-from-construction-industry-to-fuel-growth-of-global-pvc-pipes-market/

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