India PVC Market to Grow at CAGR 14% till 2025
Strong growth
in agriculture sector, coupled with rising infrastructure development and rapid
industrialization is to drive India PVC market through 2025
According to the recently published TechSci
Research report “India PVC Market Study, 2011
- 2025”, the PVC
market in India is projected to exhibit a CAGR of over 14% during 2016 – 2025,
on account of expanding agriculture sector, coupled with strong growth in
infrastructure development, rapid industrialization and rising urbanization. Moreover,
increasing favourable government policies and investments, growing population
and rising construction activities in the country, are further expected to
drive consumption of PVC in India during the forecast period.
PVC is tailored for utilization as a common
plastic material in the construction sector,and is used in window frames and shutters,
pipe cabling and coating, etc. PVC is a preferable plastic material for broad
array applications including flooring, wires & cables, films & sheets,
etc.,on account ofit’s high rigidity and flexibility. Moreover, PVC also offers
fire resistance owing to its high chlorine content, which is further boosting
PVC’s consumption in the construction sector. As per 12th five-year plan (2012-2017),
a total investment of USD1,000 billion is planned to be made in the
infrastructure sector of the country, which is further expected to drive India
PVC market during the forecast period. West region is the major demand
generating region for PVC in India, owing to presence of large number of
plastic manufacturing companies in states like Gujarat, Maharashtra, etc.
“Pipes & Fittings are extensively used inirrigation,
water supply, sewerage, plumbing, chemical, oil & gas, which are further
driving demand for PVC from this industry. Moreover, rising population is
escalating demand for agricultural products, coupled with growing issues
concerning water sanitary management are further expected to drive demand for
PVC pipes and fittings in agriculture, infrastructure, real estate and
construction sectors across the country during the forecast period. Under Union
budget 2016-2017, government has announced a total investment of USD12.94
billion on irrigation projects over the coming five years, with an aim to
uplift agricultural output of the country. Furthermore, growing adoption of PVC
in pipes & fittings industry is projected to boost India PVC market during
2016-2025.” said Mr. Karan Chechi, Research Director, with TechSci Research, a
research based global management consulting firm.
“India PVC Market
Study, 2011 - 2025” has analyzed
the potential of the PVC market in India and provides statistics and
information on market sizes, shares and trends. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes the emerging
trends along with essential drivers and key challenges faced by India PVC
market.
About TechSci Research
TechSci Research
is a leading global market research firm publishing premium
market research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
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employing innovative research solutions and tracking global and country
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market trends.
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