Accelerations in consumer spending and homebuilding, Expansion of Oil and Gas Network in the US and Need to Repair and Replace Aging Water Pipe Network were the key factors driving growth in PVC Pipe and Fittings Market.
PVC pipe demand in water distribution, wastewater and plumbing has increased in the past few years due to the continued recovery in the construction industry, along with ongoing public and private sector investment in a decaying water distribution infrastructure. Total volume demand for PVC pipe grew nearly 12% from 2014 to 2015, led by plumbing (hot and cold water pipe and drainage, waste, vent pipe) where year-over-year growth was driven by new housing projects. Demand for PVC pipe is expected to continue its current growth trajectory as these products support broad industry trends, including a mid-cycle housing market, increasing municipal budgets for ongoing repair and upgrade of infrastructure projects and continued adoption of innovative and lower installation cost methods.
The wastewater supply, agriculture and chemical sectors have been major growth drivers in PVC pipe market in the US. Within the PVC pipe market, potable water supply is the largest market after wastewater supply applications. The growth of residential and commercial construction and the boom in infrastructure development has spur growth for this segment. Increasing shale drilling activity in the US has fueled the demand for PVC pipes. Fall in oil & gas prices have resulted in economic slowdown but they are incidentally increasing the demand for plastic pipes across US along with oil & gas businesses. The market is benefited from growing acceptance of large diameter pipes in infrastructure applications such as drainage, sewer and water transmission.
Growing focus on new applications such as rain water harvesting, planned deployment of natural gas distribution pipelines and construction activities have further boosted market growth.
The report titled “US PVC Pipe and Fittings Market Outlook to 2022 – By Segments Type of Pipes (Chlorinated PVC Pipe, Regular P VC Pipe, Plasticized PVC Pipe and Fittings), By Application (Irrigation, Water Supply, Sewerage, Plumbing, Chemical & Oil and Others) and By Market Structure (organized and unorganized market)” by Ken Research suggested a growth at a positive CAGR in revenues in US PVC pipes and fittings market in next 5 years till 2022.
Ankur Gupta, Head Marketing & Communications