The future prospects for PVC pipes and fittings industry in India is very optimistic and key growth drivers for the market will be increased demand for agricultural production, significant role played by the government in the development of irrigation infrastructure and the growing real estate sector.
PVC pipes and fittings industry in India has showcased tremendous growth over the past few years and registered CAGR of 12.5% during FY’2009-FY’2014. In India, PVC pipes are put into a wide range of applications such as water supply schemes, spray irrigation, deep tube well schemes and land drainage schemes. Agriculture forms a major portion of the PVC pipes and fittings market revenue in India followed by construction sector with increased spending witnessed in real estate and infrastructure development in the country. The PVC pipes and fittings industry in India is highly fragmented with nearly 1,000 companies.
Some of the major players in the industry include companies such as Finolex Industries Limited, Jain Irrigation Systems Limited, Supreme Industries, Prince Pipes and Fittings Private Limited, Astral Poly Technik Limited and others. Although, adoption of PVC pipes and fittings is growing at a fast pace, the market penetration is still very low comparing to other countries such as the US, china and others, indicating a huge market potential for the industry in India.
According to research report, “India PVC Pipes and Fittings Industry Outlook to 2019 - Expanding Irrigated Area and Housing Sector to Stimulate Growth” by Ken Research, “The Indian PVC pipes and fittings industry has grown considerably over the past years. Factors such as rising population leading to increased demand for agricultural products, increased government thrust on infrastructure development, rising demand from construction sector and increasing recognition among people regarding the benefits of PVC pipes over other conventional piping systems have impelled the scope for PVC pipe industry in India in the past and the trend is expected to continue in the future years as well”.
The report provides detailed overview on the PVC pipes and fittings Industry in India and helps reader to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants and analysts, PVC pipes and fittings manufacturing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.