Global PVC pipes market is estimated to be valued at USD 25.97 Bn in 2024 and projected to reach USD 34.87 billion by 2031, exhibiting a CAGR of 4.3% over the forecast period. PVC pipes are highly preferred for plumbing works, owing to their corrosion resistance, durability, and lightweight properties. Furthermore, rapid urbanization and increasing construction of commercial and residential buildings boosts demand for PVC pipes.
Global PVC pipes market growth is driven by increasing number of infrastructure development projects worldwide and rapid urbanization. Rapid infrastructural development leads to increasing construction of buildings, roads, highways, and other commercial structures which requires extensive plumbing work. This boosts demand for PVC pipes. PVC pipes are widely used in plumbing systems owing to their robustness and ability to withstand high temperature and pressure. Their non-corrosive and long-lasting nature reduce the maintenance cost of plumbing works. PVC pipes do not rust or corrode unlike metal pipes. This has increased their adoption over traditional pipes to supply potable water. Rising construction activities coupled with the favorable properties of PVC pipes is expected to propel the market growth over the forecast period.
Increasing Demand from Construction Industry
The construction industry has been experiencing steady growth over the past few years globally. PVC pipes are used in construction projects for plumbing purposes such as water supply systems, sewage systems, drainage systems, and others. With increasing construction activities, there has been huge demand for PVC pipes. PVC pipes are cost effective and durable alternative to metals pipes, and this boosts their demand in construction sector.
Rising Urbanization
Rapid urbanization around the world has boosted infrastructure development activities. Growing urban population has increased the need for water supply and distribution networks, sewage system, and others which necessitates use of PVC pipes. Furthermore, several government initiatives focusing on improving urban infrastructure and providing housing to rising population can boost demand for PVC pipes. PVC pipes are prominently used in construction of residential and commercial buildings due to their corrosion resistance and easy installation properties.
Volatility in Raw Material Prices
PVC resin is the primary raw material used in production of PVC pipes. Fluctuations in crude oil prices directly impacts the PVC resin price trend in the global market. Unpredictable changes in raw material costs increases manufacturing expenses of PVC pipes producers. This acts as a major restraint for market players in terms of maintaining stable product pricing without compromising on margins.
Growing Popularity of CPVC Pipes
Chlorinated polyvinyl chloride (CPVC) pipes have emerged as an alternative to traditional PVC pipes, owing to their enhanced properties such as higher heat resistance. CPVC pipes can withstand continuous temperatures up to 210°F as compared to 120°F for PVC pipes. These have lower permeability to liquid and gases along with better chemical resistance. Increasing awareness and availability of CPVC pipes can pose threat to PVC pipes demand in the near future.
Growing Agricultural Sector
Irrigation systems play a pivotal role in agricultural productivity. PVC pipes are commonly used for construction of drip and sprinkler irrigation systems due to their corrosion resistance, light weight and long operational life. Expanding agricultural activities and ongoing initiatives towards sustainable farming practices can drive the PVC pipes market growth.
Increasing Repair & Renovation Projects
Aging water supply and sewage systems in old buildings and industrial units has boosted repair and replacement demand for plumbing pipes. PVC pipes are preferred choice for renovation projects, owing to their easy joinability and installation features combined with affordability. Growing renovation and retrofitting construction activities can offer lucrative opportunities for PVC pipes producers in the near future.
Link: https://www.coherentmarketinsights.com/market-insight/pvc-pipes-market-5109
Key Developments
- In 2024, India's Ministry of Commerce and Industry launched an anti-dumping investigation into the imports of Suspension Polyvinyl Chloride (S-PVC) from various countries. This move aims to determine whether the influx of S-PVC into the Indian market is causing material injury to the domestic industry.
- In December 2021, North America-based Pipe Corporation (NAPCO) unveiled a groundbreaking Polyvinyl Chloride-Oriented (PVCO) pipe designed to offer a sustainable solution for water main infrastructure. This innovative product boasts a significantly lower carbon footprint compared to traditional materials used in water main construction.
- In October 2020, Molecor, a leading manufacturer of Oriented PVC (PVC-O) pipes, made a significant breakthrough in the pressure pipeline sector by launching the world's first DN1000 mm (39.37 inches) PVC-O pipe. This milestone achievement marks a major advancement in the capabilities of PVC-O technology and its potential applications in large-scale water infrastructure projects.
- In 2020, PVC4Pipes, a global initiative promoting the use of PVC pipes, launched a comprehensive Training Package tailored specifically for the PVC pipe industry. This initiative aims to enhance knowledge, skills, and best practices among industry professionals involved in the design, manufacturing, installation, and maintenance of PVC pipes.
Key Players
Finolex Industries Ltd., Wavin Vectus, China Lesso Group Holdings Limited, Hebei Bosoar Pipe Co. Ltd, Plasticos Ferro S.L., Fuijan Aton Advanced Material Science & Technology, Pipelife Austria Gmbh & Co KG., APL Apollo, Georg Fischer Ltd., JM Eagle Inc., Astral Pipes, Supreme Industries Ltd., Vinidex Pty Ltd., Aliaxis Group S.A., Prince Pipes, Ashirvad Pipes, Unitech Pipes, Pushpa Pipes, Suridhi Industries Pvt. Ltd., Austro Pipes
