/EIN News/ — Seattle, July 29, 2022 (GLOBE NEWSWIRE) — The world PVC pipes market was estimated at USD 55.59 billion in 2021 and is expected to grow at a CAGR of 5.9% during the forecast period (2021-2028).
Key Trends and Analysis of Global PVC pipe market:
PVC pipes are widely used in the manufacture of oxygen tents, tubing and bags for blood transfusion, drips and other medical procedures. For example, according to India Brand Equity Foundation (IBEF) estimates, the global pharmaceutical sector generated $35.9 billion in revenue in 2016. Moreover, this increases the growth prospects of the PVC pipe market by Pharmaceutical industry.
PVC pipes are generally used in the ductwork of air conditioning systems because they reduce the risk of corrosion and are better insulators than metals. The Plastic Pipe Institutes, on the other hand, claim that the maximum temperature for PVC is 140°F. According to the National Aeronautics and Space Administration NASA, global temperature has risen 1.4◦F since 1880. In Due to these deadly fluctuations in temperature, the global air conditioning market is worth $123-125 billion in 2018. Moreover, the demand is expected to grow at a profitable CAGR of 6% from 2019 to 2025. Due to expanding from the heating, ventilation and air conditioning (HVAC) business, there will be an increase in demand for PVC pipes.
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Main market takeaways:
The global PVC pipe market is expected to grow at a CAGR of 5.9% over the forecast period (2021-2028). PVC (polyvinyl chloride) is the third best-selling plastic after polyethylene and polypropylene according to Omnexus, a materials selection platform. These pipes are used for sewers, waste disposals, water pipes, irrigations, conduits and other industrial systems. In the construction industry, pipes are used to transport sewage and waste water from building structures as well as main water supply lines. These pipes are also used in indoor plumbing to circulate water throughout the structure of buildings.
PVC pipes are made by an extrusion process in various diameters, such as 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 problems can be avoided by using PVC pipes, which are corrosion resistant, flame resistant, easy to install and inexpensive compared to other pipe materials.
Mergers and acquisitions, strategic collaborations, new product launches, and business expansions are the major strategies adopted by major players to retain their market share. For example, in January 2021, Six European organizations across the plastics value chain pledged to develop Circularity Platforms in collaboration with the European Commission, with the aim of recycling 50% of plastic waste by 2040. , this encourages the recycling of plastic products across Europe, resulting in a significant reduction in waste.
The major players operating in the global PVC pipe market are China Lesso Group Holdings Limited, Hebei Bosoar Pipe Co. Ltd, Plásticos Ferro SL, Fujian Aton Advanced Materials Science & Technology Co. Ltd., Pipelife Austria Gmbh & Co KG., Georg Fischer Ltd. ., Astral Pipes, Aliaxis Group SA, JM Eagle, Inc., Supreme Industries Ltd. and Vinidex Pty Ltd.
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Market segmentation :
- Global PVC Pipe Market, By Type:
- Not laminated
- Molecular oriented
- Others (high impact, etc.)
- Global PVC Pipe Market, By Application:
- Water supply
- petroleum gas
- Others (HVAC, etc.)
- Global PVC Pipe Market, By Region:
- North America
- Latin America
- By country:
- Rest of Latin America
- By country:
- By country:
- The rest of Europe
- By country:
- Asia Pacific
- By country:
- South Korea
- Rest of Asia-Pacific
- By country:
- Middle East and Africa
Related Market Information Reports:
Building and construction plastics marketBy product type (polyvinyl chloride (PVC), polystyrene (PS), polyurethane (PU), thermoplastic elastomer (TPE), acrylics, composite martial materials, others), by application (pipes and ducts, door fittings, insulation, Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Size, Share, Prospects and Opportunities Analysis 2020 – 2027
Engineering plastics marketBy 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 (including LCP, PEEK, PEI, PPO, PES, PSU), others (including UHMWPE/UHMW, TPI alloys and blends, etc.)), by application (automotive and transportation (interiors and safety, engine and mechanical , Exterior and structural, other (including fuel systems, electrical and electronics)), electrical and electronics (consumer appliances, other (including lighting, optical media, wire and cable, electronic components), electronic products), construction ( glazing and skylighting, Pipes and fittings, other (wall sockets, building bricks)), medical (diagnostic and drug delivery systems, medical devices, other (including surgical instruments, implants Orthopedics and Orthopedics)), Industry and Machinery, Packaging, Others), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa) – Size, Share, Prospect Analysis and opportunities, 2019 – 2027
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