July 29, 2022 09:15 ET | Source: CMI CMI
Seattle, July 29, 2022 (GLOBE NEWSWIRE) -- The global PVC pipes market was estimated to be valued at US$ 55.59 billion in 2021, and is expected to exhibit a CAGR of 5.9% during the forecast period (2021-2028).
Key Trends and Analysis of the Global PVC Pipes Market:
PVC pipes are widely used in the manufacturing of oxygen tents, tubing and bags for blood transfusion, drips and other medical procedures. For instance, according to the estimates of the India Brand Equity Foundation (IBEF), the global pharmaceutical sector generated US$ 35.9 billion revenue in 2016. Moreover, this is increasing the pharmaceutical industry’s PVC pipe market growth prospects.
PVC pipes are typically used in ductwork of air conditioning systems because they reduce the danger of corrosion and are better insulators than metals. The plastic pipe institutes on the other hand claims that the maximum temperature for PVC is 140°F. According to The National Aeronautics and Space Administration NASA, the global temperature has risen by 1.4 ◦F since 1880. As a result of this lethal temperature fluctuations, global air conditioning market is worth between $123 and $125 billion in 2018. Furthermore demand is expected to rise at a profitable CAGR of 6% from 2019 to 2025. As a result of the expansion of the heating, ventilation, and air conditioning (HVAC) business, there will be an increase in demand for PVC pipes.
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The global PVC pipes market is expected to exhibit a CAGR of 5.9% over the forecast period (2021-2028). PVC (polyvinyl chloride) is the third-largest selling plastics after polyethylene and polypropylene according to Omnexus, a material selection platform. These pipes are used for sewers, drain waste-vents, water service lines, irrigations, conduit, and other industrial systems. In the construction business, pipes are used to transport sewage and wastewater from building structures as well as main water supply lines. These pipes are also utilized in interior plumbing to circulate water throughout the buildings structure.
PVC pipes are made by extrusion process in various diameters, such as a solid wall or cellular core construction, and are used to replace traditional metal pipes. Traditional metal pipes are expensive to maintain and rust quickly. These issues can be avoided by using PVC pipes, which are corrosion-resistant, flame resistant, easy to install, and inexpensive compared to other piping materials.
Mergers and acquisitions, strategic collaborations, new product launch, and business expansions are the key strategies adopted by key players to retain their market share. For instance, in January 2021, Six European plastics value chain organization pledged to develop circularity platforms in collaboration with the European commission, with the goal of recycling 50% of plastic waste by 2040. Moreover, this encourages the recycling of plastic products across Europe, resulting in a significant reduction in littering.
Major players operating in the global PVC pipes market include 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.
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Construction & Building Plastics Market, By Product Type (Polyvinyl Chloride (PVC), Polystyrene (PS), Polyurethane (PU), Thermoplastic Elastomer (TPE), Acrylics, Composite Martials, Others), By Application (Pipes & Ducts, Door Fittings, Insulation, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027
Engineering Plastics Market, By Product Type (Polyamides (PA), Polycarbonates (PC), Acrylonitrile butadiene styrene (ABS) and Styrene Acrylonitrile (SAN), Polyoxymethylene (POM), Polybutylene terephthalate (PBT), Fluoropolymers, Polymethyl methacrylate (PMMA), High-performance engineering plastics (include LCP, PEEK, PEI, PPO, PES, PSU), Others (includes UHMWPE/UHMW, TPI alloys, and blends, etc.)), By Application (Automotive and Transportation (Interiors and Safety, Engine and Mechanical, Exteriors and Structural, Others (include fuel systems, electrical and electronics)), Electrical and Electronics (Consumer Appliances, Others (include lighting, optical media, wire and cable, electronic components), Electronic Products), Construction (Glazing and Sky Lighting, Pipes and Fittings, Others (Wall outlets, building bricks)), Medical (Diagnostic and Drug Delivery Systems, Medical Devices, Others (include surgical instruments, orthopedic implant, and orthopedics)), Industrial and Machinery, Packaging, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
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