PVC Pipe Market: Global Opportunity Analysis and Industry Forecast, 2022-2031," shedding light on the remarkable growth trajectory of the global PVC pipes market. In 2021, the industry amassed $6.3 billion and is poised to soar to $12.1 billion by 2031, boasting a robust CAGR of 5.5% from 2022 to 2031.
Key Drivers of Market Growth:
The
surge in demand from construction and agriculture applications is
fueling the expansion of the global PVC pipes market. Despite challenges
posed by fluctuating raw material prices, emerging economies present
new avenues for growth.
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Navigating Through the Market :
The
market faced setbacks during the Covid-19 pandemic, with disruptions in
the supply chain, prolonged lockdowns, and raw material price
fluctuations. However, with governments easing lockdown regulations, the
market is poised for recovery.
PVC Resins Segment Dominates:
Among
materials, PVC resins emerged as the frontrunner in 2021, capturing
over two-thirds of the global PVC pipes market. Their cost-effectiveness
and versatility make them a preferred choice. Expect the stabilizers
segment to exhibit the highest CAGR of 6.1%, driven by increased demand
for pipe protection against heat, UV, and mechanical degradation.
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Plumbing Segment Leads Growth:
In
applications, the plumbing segment is forecasted to witness the highest
CAGR of 6.1% from 2022 to 2031, fueled by heightened construction
activities. Meanwhile, the sewer & drain segment dominated in 2021,
benefiting from increased government spending on water and wastewater
management.
Asia-Pacific Leads the Charge:
Geographically,
Asia-Pacific spearheaded the global PVC pipes market in 2021, followed
by North America. With a projected CAGR of 5.8%, Asia-Pacific is
expected to maintain its lead, driven by escalating construction
activities, population growth, and government investments in water and
wastewater treatment.
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Major Players Driving Innovation:
Industry
giants such as Advanced Drainage Systems, Inc., China Lesso Group
Holdings Ltd., and JM Eagle Company, Inc. are at the forefront of
innovation, shaping the future of the PVC pipes market.
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