A new research report by IMARC Group, titled “PVC Pipes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” estimates that the global PVC pipes market reached a volume of around 23 Million Tons in 2018, growing at a CAGR of more than 5% during 2011-2018. PVC pipes are manufactured by the extrusion of a blend of polymer resin (PVC) and various additives. The manufacturing process of these pipes requires less energy and fewer resources owing to which they are continually replacing counterparts like metal piping systems. These pipes are not only rust-, tear- and chemical- resistant but are also durable, lightweight, easy to install, affordable and reliable. As a result, they are extensively employed in sewer lines, irrigation, water systems and underground wiring.
PVC pipes have a smooth inner surface which reduces fluid friction and resistance to flow and enables them to handle high water pressure, making them suitable for piping applications. In addition to this, these pipes are extensively used in the drinking water supply and fluid transportation systems as they are inert in nature and can resist the growth of bacteria such as E. coli. This is bolstering the sales of these pipes across the globe, thereby stimulating the growth of the market. Moreover, as these pipes are resistant to corrosion and can withstand extreme movements, rigorous shaking and bending without experiencing any severe damage, they are extensively replacing traditional concrete piping systems in the disaster-prone areas. Other significant factors contributing to the growth of the global market are urbanization, rapid population growth and flourishing end-use sectors. Looking forward, the global PVC pipes market is anticipated to reach a volume of more than 30 Million Tons by 2024, expanding at a CAGR of around 5% during the forecast period (2019-2024).
- On the basis of the application, these pipes are primarily utilized for irrigation purposes as they can handle a sudden increase in water pressure in comparison to their traditional counterparts. Other major application areas include water supply, sewerage, plumbing, HVAC, and oil and gas.
- On the geographical front, Asia is the biggest market for these pipes, accounting for the majority of the market share. Other major regions include Europe, Latin America, North America, and Middle East and Africa.
- The competitive landscape of the global market has been examined along with detailed profiles of the key player operating in the market. The leading manufacturers include Plasticos Ferro Sl., China Lesso Group Holdings Ltd., Hebei Bosoar Pipe Co. Ltd., Fujian Aton New Material Technology Co. Ltd. and Pipelife Austria Gmbh & Co Kg.
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