India PVC pipes and fittings Market to reach Rs 327 billion by FY’2020: Ken Research
Future growth of India PVC pipes and fittings Market is expected to be led by the rising construction of much required residential units and inclining demand of PVC pipes and fittings in agricultural sector to bring in more area under cultivation.
· Future growth of India PVC pipes and fittings Market is expected to be led by the rising construction of much required residential units and inclining demand of PVC pipes and fittings in agricultural sector to bring in more area under cultivation. This will also be bolstered by the government projects for clean environment and housing for all which includes a large focus on the sanitation facilities for the people.
· The market leader, Finolex Industries Limited is expected to maintain focus on research and development in its manufacturing plants to develop new products and widen its distribution reach, to stay ahead of its rivals in the market especially in rural segment.
Ken Research announced its latest publication on “India PVC Pipes and Fittings Industry Outlook to 2020 - Expanding Irrigated Area and Construction Sector to Stimulate Growth” which provides a comprehensive analysis of the PVC Pipes and Fittings Industry in India. The report covers various aspects such as market size of PVC pipes and fittings industry on basis of production capacity, revenues and annual productions, segmentation on the basis of RPVC, PVC and CPVC pipes and fittings, applications, regions and organizational structure and volume and value of exports and imports for PVC pipes and fittings. The report is useful for industry consultants and analysts, PVC pipes and fittings manufacturing companies and new players venturing in the market.
The Indian PVC pipes and fittings industry, which comprises of segments such as RPVC, PVC and CPVC pipes and fittings has grown significantly over the last few years due to the increase in the demand from irrigation sector on account of the burgeoning population and uncertain weather conditions in the country. The PVC pipes and fittings industry in India is highly fragmented. The market revenues have grown at a CAGR of 13.4% from FY’2010-FY’2015. There is a stiff competition in the market with a large number of organized and unorganized players engaged in the manufacturing and distribution of PVC pipes and fittings in the country. Jain Irrigation Limited dominated the market in terms of production capacity in FY’2015.
According to the research report, the India PVC pipes and fittings market will grow at a double digit CAGR over the period FY’2015-FY’2020 and is projected to reach INR 327 billion by FY’2020. The launch of new products, improved penetration of the companies with expanding distribution network and significant role played by the government in the development of irrigation infrastructure and real estate sector in the country will bolster the growth in the industry. Besides, a deficient and uneven rainfall in the country is expected to increase the demand for irrigation systems in the coming years, which will boost the demand for PVC pipes, tubes and hoses.
“PVC pipes will gradually replace conventional piping systems in the market due to their lower cost and higher durability. CPVC pipes are expected to register fastest growth in terms of the production capacity in the next 5 years from FY’2015-FY’2020. Rising acceptance of CPVC pipes over galvanized or PVC pipes will lead to the growth in the future. The organized segment of the market is predicted to grow at a faster rate in the coming years with shifting preferences towards branded and quality products being witnessed in the domestic market”, according to the Research Analyst, Ken Research.