As per the latest report by IMARC Group, titled “GCC CPVC Pipes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the GCC CPVC pipes market size is expanding at a steady rate. Chlorinated polyvinyl chloride (CPVC) is a thermoplastic which is produced by the chlorination of the polyvinyl chloride (PVC) resin. Since it is relatively more flexible and lightweight than PVC and can withstand high temperatures, it is employed in the manufacturing of pipes. In the GCC region, CPVC pipes are gaining popularity in the commercial and residential sectors. As compared to galvanized metal pipes, CPVC pipes are easy to install and maintain; offer resistant against corrosion, tuberculation, and deposits; and are available in a wide range of sizes. These features, coupled with the rising awareness about health, hygiene, sanitation as well as wastewater management in the region, is boosting the sales of these pipes.
GCC CPVC Pipes Market Trends:
For years, the GCC countries have been dependent on the oil and gas industry for economic growth. However, falling oil prices have encouraged the regional governments to diversify their economies by investing in other sectors. Besides this, they have also initiated various development projects, such as NEOM City, Saudi Vision 2030, Jeddah Waterfront and Entertainment City, to promote the influx of tourists. In addition to this, the hospitality sector in the region is flourishing due to the increasing religious tourism, and the rising number of cafes, hotels and restaurants. This, in turn, is offering lucrative opportunities to the manufacturers of the CPVC pipes in the GCC region. Further, the governing authorities are also investing in the improvement of agriculture, transportation, water distribution, and telecommunication sectors which, in turn, is proliferating the demand for CPVC pipes in the region. On account of these factors, the CPVC pipe market in the GCC region is anticipated to witness stable growth in the upcoming years.
- Based on the application, the market has been classified into plumbing; water supply systems and chemical industry; sewerage, drainage and irrigation; and others. Amongst these, plumbing accounts for the majority of the total market share.
- Region-wise, Saudi Arabia represents the largest market for CPVC pipes in the GCC region. Other major markets include the UAE, Kuwait, Bahrain and Oman.
- The competitive landscape of the market has been examined in the report with some of the key players being IKK Group, AGM, SAPPCO and MMT Group.
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