Global PVC Pipes Market Size, Share And Forecast To 2031

(MENAFN- Straits Research) Introduction

PVC pipe is a white plastic pipe used in plumbing and drainage systems. PVC has become a common substitute for metal piping. Due to its strength, durability, ease of installation, and low cost, PVC is one of the most widely used plastics worldwide. The thermoplastic polymer PVC is used to manufacture pipes, fittings, valves, and other liquid-handling equipment. Over the forecast period, the demand for PVC pipes will be driven by the expansion of the building, construction, and irrigation industries.

Market Dynamics Industry Growth in the construction Sector Drives the Global Market

Pipes are crucial to the construction industry. They bring in the main water supply lines and move the building's wastewater and sewage. Pipes are also used in internal plumbing systems to circulate water inside building structures. Some traditional materials used to create pipes for the construction industry are concrete and galvanized iron. But because of their strength, durability, lightweight, and ease of installation, PVC pipes quickly replace these conventional pipes.

PVC pipes offer complete corrosion resistance and are less susceptible to heat expansion or contraction. Therefore, these pipes can be used for warm or cold-water applications depending on the PVC variety. Depending on the needs of each unique application, PVC pipes are offered in various lengths, wall thicknesses, and diameters. PVC fittings are also readily available, speeding up installation and saving much work and time.

As with most hydrocarbon-based feedstocks, ethylene manufacturing produces a sizable amount of greenhouse gas emissions, which has historically been utilized to produce PVC resins. Additionally, the discovery and production of oil and gas have a very severe influence on the environment and significantly exacerbate the problem of global warming. Demand for sustainable materials is rising as public awareness of environmental degradation, and its consequences on the climate grow. Additionally, the rising application of various green building criteria globally is driving demand for sustainable building materials over the projection period.

Many PVC resin manufacturers successfully use renewable ethylene. Second-generation biomass feedstock shown to not compete with the food chain produces renewable ethylene. Producers of PVC resin can significantly reduce the quantity of hydrocarbon feedstock usually used in the PVC production process with this bio-based feedstock. For instance, Vynova, a PVC resin manufacturer with a basis in Europe, has unveiled a line of bio-attributed PVC resins. The company claims that employing renewable ethylene in the production of PVC resin reduces CO2 emissions by more than 90% when compared to PVC, which is made conventionally.

Regional Analysis

Asia-Pacific is the highest revenue contributor and is anticipated to grow at a CAGR of 6.30% during the projection period. Asia-Pacific had the most significant PVC pipe market revenue share in 2021 (44.20%), and the region is expected to maintain its leadership during the forecast period. This is related to the increase in construction projects in this region. The number of construction-related maintenance and repair tasks has increased due to increased government programs and activities linked to maintenance, which has also greatly aided the growth of the PVC pipe market.

Additionally, due to the implementation of several infrastructure projects and the requirement for rainwater harvesting to meet the need for water in rural regions for a longer duration, Asia Pacific is projected to have the most significant market growth. The demand for rainwater storage systems is anticipated to rise due to both considerations. The South Asian Network for Development and Environmental Economics is known as SANDEE. It is a regional network that brings together economists and policy specialists from several South Asian nations to address environmental challenges.

Key Highlights

• The global PVC pipes market was valued at USD 25,484.20 million in 2022. It is projected to reach USD 42,690.83 million by 2031, growing at a CAGR of 5.90% during the forecast period (2023-2031).
• The global PVC pipes market is bifurcated based on type into post-chlorinated, plasticized, and unplasticized. The post-chlorinated segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.20% during the forecast period.
• The global PVC pipes market is bifurcated based on applications in sewerage, plumbing, water supply, oil and gas, irrigation, and others. The water supply segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.80% during the forecast period.
• Based on end-use, the global PVC pipes market is bifurcated into agriculture, building and construction, telecommunications, and others. The agriculture segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.10% during the forecast period.
• Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 6.30% during the forecast period.