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Pipes Market Is Estimated To Witness High Growth Owing To Increasing Infrastructure Development Projects

 Pipes Market Is Estimated To Witness High Growth Owing To Increasing Infrastructure Development Projects

The Pvc Pipes Market is estimated to be valued at US$ 62.34 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

PVC pipes are one of the widely used plastic pipes for potable water supply network, sewerage and drainage projects as well as irrigation systems. The key advantages of PVC pipes are corrosion resistance, strength, durability and affordable cost. With growing population and rapid urbanization, infrastructure development projects for water supply, sewerage systems and irrigation networks are increasing substantially. This rising infrastructure development is driving the demand for PVC pipes globally.

Market key trends:

One of the major trends driving the growth of PVC pipes market is the increasing infrastructure development projects. Governments around the world are focusing on improving urban infrastructure to meet the growing needs of rising population. Various countries are undertaking large scale water supply, sewerage, drainage and irrigation projects which involves extensive use of PVC pipes. For instance, in India the government's Jal Jeevan Mission aims to provide household tap connections to all rural households by 2024 requiring massive network expansion. Similarly, projects like China's Rural Revitalization Strategy and Africa's Agenda 2063 focus on developing rural water infrastructure. Such large infrastructure development projects are expected to propel the demand for PVC pipes during the forecast period.

Porter’s Analysis

Threat of new entrants: Low capital requirements pose low threat but established brands, economies of scale pose entry barriers.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes but PVC pipes being largest consumed product provides less bargaining power.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of raw material suppliers globally but being a commodity power is balanced.

Threat of new substitutes: Substitutes like steel, concrete, copper pipes pose threat but PVC properties make it price competitive.

Competitive rivalry: Intense due to global established players and regional small players competing on pricing.

SWOT Analysis

Strength: Durability, flexible nature, corrosion resistant, light weight of PVC pipes is strength.

Weakness: Perceived negative impacts on environment and health is weakness. Complex production process requires large capital investments.

Opportunity: Growing construction industry especially in Asia Pacific and Middle East provides opportunity.

Threats: Volatility in raw material prices can impact profits. Strict regulations on plastic usage pose threats.

Key Takeaways

The Global Pvc Pipes Market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing infrastructure development and construction activities globally. Asia Pacific dominates currently with China and India being largest markets owing to huge population and fast urbanisation.

Regional analysis Asia Pacific dominates currently with over 35% market share led by China, India, Japan, and Indonesia. China accounts for over 30% of global demand for PVC pipes due to staggering pace of infrastructure development in cities and rural areas.

Key players operating in the Pvc Pipes market are China Lesso Group Holdings Limited, Hebei Bosoar Pipe Co. Ltd, Plásticos Ferro S.L., Fujian Aton Advanced Materials Science & Technology Co. Ltd., Pipelife Austria Gmbh & Co KG., Georg Fischer Ltd., Astral Pipes, Aliaxis Group S.A., JM Eagle, Inc., Supreme Industries Ltd., and Vinidex Pty Ltd.

Read More - https://www.pressreleasebulletin.com/plasticizing-and-recycling-opportunities-to-drive-growth-of-the-global-pvc-pipes-market/

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