PVC (poly vinyl chloride) pipe has many uses in new construction and renovation. So many that the market looks promising with opportunities in residential, industrial, and commercial construction. CAGR (compound annual growth rate) of 5.8% from 2019 to 2024. The major drivers for this market are growth in residential and non-residential construction and replacement of aging pipelines.
The trends which will have the most direct impact on the PVC pipe market include increasing use of multilayer technology in PVC pipes and introduction of new technology applying molecular orientation in the PVC-O pipes, predicts a new report by Reportlinker, Lyon, France.
Research analysts forecast that plasticized PVC pipes will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to its heat and chemical resistance properties. PVC pipes are used in various applications such as potable water, wastewater water, HVAC, and others. Within the PVC pipe market, wastewater will remain the largest application over the forecast period due to increasing urbanization and the development of infrastructure. Potable water is expected to witness the highest growth during the forecast period due to increasing construction and the aging of the water infrastructure.
A similar market report from AMR (Allied Market Research), Portland, Ore. narrowed the prediction window. According to them, the global PVC Pipes Market is expected to hit $85.5 billion in 2022, growing at a CAGR of 6.7% during the forecast period. Upsurge in demand for pipes in the irrigation sector and construction, rising focus of government on rural water management, and growing urbanization have fueled the growth of the PVC pipes market. On the other hand, enhanced properties of substitutes such as HDPE (high-density polyethylene) & ABS, and toxicity of PVC have hampered the growth to some extent. However, increase in awareness toward clean water supply in rural areas and rising investment in developing countries have created multiple opportunities in the segment.
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