India PVC Pipes Market Sales Revenue to Touch $6,224 Million By 2023
A new report published by Allied Market Research titled, India PVC Pipe Market by Type, Material, and Application: Regional Opportunity Analysis and Industry Forecast, 2015-2023, projects that the India PVC pipe market was valued at $3,159 million in 2016, and is expected to reach $6,224 million by 2023, growing at a CAGR of 10.2% from 2017 to 2023.
Rise in penetration of PVC pipes across various application such as irrigation, water supply, sewer & drain, plumbing, oil & gas, HVAC, and others acts as the major driving factors of India PVC pipes market. Polyvinyl chloride (PVC) pipe industry is in its mature stage.
Most of the players operating in the industry focus to consolidate their position in the market through strategic expansions and product launches. Some of the major factors that drive the demand for PVC pipes include upsurge in demand from irrigation & construction industries, rise in focus on rural water management, and rapid urbanization.
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However, factors such as availability of better substitutes, such as HDPE & ABS, and toxicity of PVC material are expected to hamper the market growth during the forecast period. On the contrary, rise in need & awareness for clean water in rural areas and increase in investment in developing economies are expected to provide significant opportunities to the industry players across the value chain.
The India PVC pipes market is segmented by type into chlorinated PVC pipe, unplasticized polyvinyl chloride (uPVC) pipe, and plasticized PVC pipes. Significant penetration across applications such as heavy-duty plumbing, sewer & drain, and HVAC drive the demand for uPVC pipes.
Based on material employed during manufacturing process, the market is fragmented into PVC resins, stabilizers, plasticizers, lubricant, pigment base, and others. A typical rigid PVC pipe may contain around 7585% of PVC resin.
Other materials are further added, such as lubricant, pigment, pigment base, plasticizers, stabilizers, and others, to enhance its performance.
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In 2016, sewer & drain was the dominant application segment, in terms of revenue with more than 35% of the share, followed by water supply & irrigation. Low cost and easy installation are the factors that drive the demand for PVC pipes in sewer & drain application.
In recent years, its demand has increased significantly owing to replacement of traditional metal pipes. Extraordinary physical properties of PVC pipes have increased their penetration in a wide array of applications, owing to their better performance than traditional piping systems.
In 2016, North India accounted for more than 50% of the India demand for PVC pipe, and is expected to maintain its lead position throughout the forecast period. However, the East India region is projected to grow at the highest CAGR of 11.1% in terms of demand during the forecast period, owing to increase in infrastructural projects and developments in the rural parts of the region.
Key Findings of the India PVC Pipe Market:
North India is expected to continue to lead the India PVC pipe market, growing at the highest CAGR of 10.1%, in terms of revenue, from 2017 to 2023.Sewer & drain occupied more than 35% share of the total market value in 2016.
In the year 2016, the unplasticized type pipe segment occupied more than 60% share of the market, in terms of revenue.East India is projected to register the highest growth rate in terms of value during the forecast period.Pigment base is anticipated to be the most lucrative material for India PVC pipes market during the forecast period.In the year 2016, North India accounted for more than half of the India demand for PVC pipe, and is expected to maintain its lead position throughout the forecast period. However, the East India region is projected to grow at the highest CAGR of 11.1%, followed by West India with 10.7%, owing to new infrastructural projects and developments in the rural parts of the region.
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Major players in the industry invest significantly on R&D to launch of new products at a reasonable cost, expand their capacities, and to meet the growing consumer demands. Strategic acquisitions and collaborations are other major strategies adopted by these players.
The major companies profiled in the report include Aashirvad Pipes, Supreme Pipes, Astral Pipes, Finolex Industries Ltd., Prince Piping System, Ori-plast, Utkarsh Indin, Dutron Group, Kankai Pipes, and Captain Pipes.
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