(MENAFN- GlobeNewsWire - Nasdaq) New York, United States , Dec. 01, 2022 (GLOBE NEWSWIRE) -- The global pvc pipes market size to grow from USD 76.5 billion in 2021 to USD 129 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6% during the forecast period. The PVC pipes market has grown due to their advantageous qualities, including lightweight, cost-effectiveness, ease of installation, and longevity. They are also used in electrical fittings due to their superior heat and electrical insulation qualities.
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The chlorinated segment accounts for the largest market size during the forecast period.
Based on the type, the global PVC pipes market is categorized into Unplasticized, Molecular Oriented, Chlorinated, and Others. The chlorinated segment accounts for the largest market size during the forecast period. Chlorinated PVC is known as C-PVC. Many of the benefits of PVC-U are also found in C-PVC pipes and fittings. However, C-PVC pipes and fittings can survive a broader range of temperatures because of their higher chlorine content than conventional PVC-U. Because of this, C-PVC is a preferred material for water piping systems in both residential and commercial construction.
The irrigation segment to hold a higher CAGR during the forecast period.
Based on the application, the PVC pipes market is categorized into Irrigation, Sewerage, Water Supply, Plumbing, Oil & gas, and Others. The irrigation segment to hold a higher CAGR during the forecast period. The cost of irrigation projects is rising quickly and requires a lot of time. Using PVC pipe for the laterals or the conduit between the valves on the main water line is a wonderful method to cut costs on an irrigation project. However, PVC pipe is an excellent lateral material.
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On credit portfolios, the COVID-19 epidemic has had a negative effect. The enormous growth has hampered the solvency of customers and businesses in unemployment and interruption of economic activity. Central banks have adopted a proactive strategy of injecting money into the market by decreasing interest rates and implementing asset purchase programs. With persistent geopolitical tensions, global trade battles, and sporadic hurricanes and earthquakes, managing and monitoring credit, market, liquidity, and operational risk across financial markets was challenging enough.
Chief risk officers and their teams have had to reevaluate outdated methods and assumptions used to manage and monitor risk due to the present pandemic crisis. The global repercussions of COVID-19 have demonstrated the significance of interconnection in international cooperation. As a result, many governments have been hurrying to find, assess, and buy trustworthy AI-powered solutions.
North America to hold a higher CAGR during the forecast period.
The Global PVC Pipes Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East, and Africa. Asia- Pacific is estimated to account for the highest market share in 2022. This is due to the growth of sectors, including construction, agriculture, and pharmaceuticals influencing the industry.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the final premium report. Major vendors in the Global PVC Pipes Market include Avient Corporation (US), Chemplast Sanmar Limited (India), Westlake Chemical Corporation (US), Mitsubishi Chemical Corporation (Japan), SABIC (Saudi Arabia), LG Chem (South Korea), 3M (U.S.), Dow (U.S.), DuPont (U.S.), LSB INDUSTRIES (US), Sika AG (Switzerland), Innospec (U.S.), ADEKA CORPORATION (Japan), Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.), PMC Specialties Group (U.S.), Afton Chemical (U.S.), The Lubrizol Corporation (U.S.), Clariant (Switzerland), LANXESS (Germany), Mayzo, Inc. (U.S.), Solvay (Belgium), Akzo Nobel N.V. (Netherlands), Arkema (France), and Eastman Chemical Company (U.S.).
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