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...