PVC Pipes Market Expected to Grow at a CAGR of 4.3% by 2030, Driven by Increasing Demand from Construction and Agriculture Sectors, Urbanization and Infrastructure Development

NEW YORK, March 16, 2023 (GLOBE NEWSWIRE) -- Research firm IndexBox has published a new report on the global PVC pipes market, providing insights into the current state and future prospects of the industry. The report is now available on the IndexBox market intelligence platform with trial access to market data for interested parties.

According to the report, the global PVC pipes market is forecast to grow steadily over the next decade, with a CAGR of 4.3% from 2022 to 2030. The growth is attributed to various factors, including increasing demand for PVC pipes in the construction and agriculture sectors, rising urbanization and infrastructure development, and the growing popularity of PVC pipes over traditional materials such as steel and concrete.

Key growth drivers of the market include the increasing demand for irrigation systems and water supply, the rising adoption of PVC pipes in sewage and drainage systems, and the growing trend towards environmentally sustainable construction materials. However, the market is also faced with challenges such as volatile raw material prices, stringent environmental regulations, and increasing competition from alternative materials.

The report also highlights factors affecting demand for PVC pipes, including population growth, urbanization, and government initiatives aimed at improving water and sanitation infrastructure.

The major consuming industries for PVC pipes include construction, agriculture, and utilities. These industries are expected to drive the demand for PVC pipes over the forecast period

Construction: The construction industry is the largest end-user segment for PVC pipes, accounting for over 60% of the global demand. The growth in construction activities, particularly in emerging economies such as China and India, is driving the demand for PVC pipes. PVC pipes are widely used in plumbing, drainage, and sewerage systems, as well as for cable protection.

Agriculture: The agriculture sector is another major end-user segment for PVC pipes. PVC pipes are used in irrigation systems, particularly in regions where water resources are scarce. The growth in the agriculture sector, particularly in developing countries, is driving the demand for PVC pipes.

Utilities: The utilities sector, which includes water supply and wastewater treatment, is also a significant end-user segment for PVC pipes. PVC pipes are widely used in water supply networks, as well as in sewage and drainage systems. The growth in urbanization and infrastructure development is driving the demand for PVC pipes in this sector.

The Asia-Pacific region is the largest market for PVC pipes, accounting for over 50% of the global demand. The region is expected to maintain its dominance over the forecast period, driven by the growing construction and infrastructure development activities.

North America:North America is a mature market for PVC pipes, with the US being the largest market in the region. The market is driven by the growing demand for PVC pipes in construction and infrastructure development, particularly in the water and sewerage systems. The market is expected to grow at a CAGR of 3.8% during the forecast period.

Europe:The PVC pipes market in Europe is expected to witness moderate growth over the forecast period, with a CAGR of 3.2%. The growth is driven by the increasing demand for PVC pipes in the construction and infrastructure sectors. The UK, Germany, and France are the largest markets in the region.

Latin America:The PVC pipes market in Latin America is expected to grow at a CAGR of 4.7% during the forecast period. The market is driven by the increasing demand for PVC pipes in the construction, infrastructure, and agriculture sectors. Brazil, Mexico, and Argentina are the largest markets in the region.

Middle East and Africa:The PVC pipes market in the Middle East and Africa is expected to grow at a CAGR of 5.3% during the forecast period. The market is driven by the increasing demand for PVC pipes in the construction and infrastructure sectors, particularly in the water and sewerage systems. Saudi Arabia, UAE, and South Africa are the largest markets in the region.

Key statistics from the report include the global production of PVC pipes, the market size and forecast, the market share of leading manufacturers, and the growth prospects of major regions.

Some of the largest manufacturers in the industry include China Lesso Group Holdings Ltd., Georg Fischer AG, JM Eagle Inc., North American Pipe Corporation, and Tigre SA.

Keywords: PVC pipes market, global demand, market forecast, growth drivers, major consuming industries, largest market, key statistics, largest manufacturers, IndexBox.

Link to the report: https://www.indexbox.io/