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PVC Pipe Market Top Growth Companies Global Growth, Trends and Industry Analysis by 2031
PORTLAND, OREGON, UNITED STATES, November 29, 2023 /EINPresswire / -- As per the report, the global PVC pipes industry was accounted for $6.3 billion in 2021, and is expected to reach $12.1 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.
Major determinants of the market growth
Rise in demand from the construction and agriculture applications drives the growth of the global PVC pipes market. However, fluctuating prices of raw materials hinder the market growth. On the contrary, increase in demand from emerging economics would open new opportunities in the future.
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The Covid-19 pandemic negatively affected the market due to disrupted the supply chain, prolonged lockdown, and fluctuations in prices of raw materials.
However, the market is expected to get back on track as governments announced relaxation regarding lockdown regulations.
The PVC resins segment dominated the market
By material, the PVC resins segment held the largest share in 2021, accounting for more than two-thirds of the global PVC pipes market, as they are economical and versatile compared to other material. However, the stabilizers segment is estimated to register the highest CAGR of 6.1% during the forecast period, due to high demand for stabilizers to protect pipes against heat, UV, and mechanical degradation.
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The plumbing segment to portray the highest CAGR through 2030
By application, the plumbing segment is projected to manifest the highest CAGR of 6.1% from 2022 to 2031, due to surge in construction activities and high usage of PVC pipes in buildings and constructions. However, the sewer & drain segment held the largest share in 2021, accounting for nearly two-fifths of the global PVC pipes market, owing to rise in government spending on water and wastewater management.
Asia-Pacific, followed by Europe and North America, held the lion's share
By region, the global PVC pipes market across Asia-Pacific, followed by North America, dominated in 2021, accounting for more than two-fifths of the market. In addition, the region is anticipated to showcase the highest CAGR of 5.8% during the forecast period, owing to rise in construction activities, increase in population, and surge in government spending on water and waste water treatment.
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Key Benefits for Stakeholders:
The report includes in-depth analysis of different segments and provides market estimations between 2022 and 2031.
The PVC pipe market size is provided in terms of million meters and $million.
The demand for PVC pipes was considered while estimating the market size and not consumption of PVC in pipes application.
A comprehensive analysis of the factors that drive and restrict the growth of the PVC pipe market is provided.
Porter's five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
Estimations and forecasts are based on factors impacting the PVC pipe market growth, in terms of $million and kilotons.
Key market players are profiled to gain an understanding of the strategies adopted by them.
This report provides a detailed analysis of the current PVC pipe market trends and future estimations from 2022 to 2031, which helps to identify the prevailing market opportunities.
Major Market Players
Advanced Drainage Systems, Inc.
China Lesso Group Holdings Ltd.
Finolex Industries Ltd
JM Eagle Company, Inc.
North American Pipe Corporation
Pipelife International GmbH
Royal Building Products
Sekisui Chemical Company Ltd.
Formosa Plastics Group.
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