Report Overview

India PVC Pipes Market - Industry Trends & Forecast Report, 2029

India PVC (Polyvinyl Chloride) pipes market size was estimated at USD 177.71 million in 2022. During the forecast period between 2023 and 2029, the size of India PVC pipes market is projected to grow at a CAGR of 7.21% reaching a value of USD 269.85 million by 2029. Major growth drivers for the India PVC pipes market include an increasing urbanization and industrialization. Notably, the Government of India is actively prioritizing economic development by ramping up investments and launching specific initiatives like Pradhan Mantri Awas Yojana and Pradhan Mantri Krishi Sinchai Yojana, with a strong focus on infrastructure development. These government-led programs are expected to significantly boost the India PVC pipes market. Also, other growth factors for the market include expanded government infrastructure investments, a surge in residential and commercial construction, the growth of industrial production, development in the irrigation sector, and the replacement of aging pipes with more advanced polymer alternatives, particularly CPVC pipes, in applications like hot and cold-water plumbing. Major players in the industry have displayed robust growth, with a substantial increase in PVC pipe production. Government initiatives like "Har Ghar Jal Yojna" and "Jal Jeevan Mission" are set to further drive demand for plumbing pipes and fittings, and the industry is projected to witness continued growth in the years ahead. This positive outlook is underpinned by the government's strong commitment to national development, policy support, and a focus on self-reliance.

PVC Pipes – Overview

PVC pipes are a type of pipes manufactured through the extrusion process using polyvinyl chloride (PVC) raw material. They are recognized for their notable qualities, which encompass high tensile strength, ductility, durability in extreme temperature environments, and resistance to corrosion. These PVC pipes serve a wide range of applications across commercial and industrial sectors, including the chemical industry, electronics, semiconductors, food and beverage, maritime, mining, agriculture, steel processing, and wastewater treatment facilities. Their uses extend to underground potable water supply, sewer and drainage systems, irrigation, medical devices, and more. They are commonly deployed in various infrastructural settings such as banks, healthcare facilities, airports, marine systems, resorts, and office buildings. PVC pipes are also integral components in various pressure systems for building service lines, site utility systems, reclaimed and gray water systems, turf irrigation, and various other applications.

India PVC Pipes Market

Growth Drivers

Increasing Demand for PVC Pipes from Agricultural Sector

The growth and expansion of India's agricultural sector play a pivotal role in boosting the India PVC pipes market. With approximately 58% of the population relying on agriculture as their primary income source, this sector holds significant economic weight, contributing INR 18.53 trillion (USD 271.00 billion) in FY18 when combined with forestry and fishing. The government's increased investments in agricultural infrastructure, including irrigation systems, warehousing, and cold storage, are expected to further enhance the agriculture industry's momentum. As domestic income rises and the demand for food increases, the agricultural sector faces new challenges, driving the need for advanced irrigation facilities and infrastructure. In response, the adoption of key agricultural trends, such as increased exports, greater private sector participation, and the integration of information technology, is expected to stimulate agricultural growth. This, in turn, fuels the demand for PVC pipes in various agricultural applications. PVC pipes, renowned for their strength, ductility, resistance to extreme temperatures, and corrosion resistance, offer an economical and versatile solution for multiple agricultural structures, positively impacting the India PVC pipes market's growth prospects.

Restraints

Fluctuating Raw Material Prices

The growth of the India PVC Pipes Market is constrained by the fluctuating prices of raw materials. PVC pipes are primarily manufactured from polyvinyl chloride, and their production is sensitive to price variations in key raw materials, notably chlorine and ethylene. These fluctuations in raw material costs can have a direct impact on the manufacturing expenses of PVC pipes, making it challenging for market stakeholders to maintain pricing stability and profit margins. Moreover, rising production costs may be transferred to consumers, potentially reducing the affordability and competitiveness of PVC pipes. These uncertainties linked to raw material prices pose a hindrance to the market's growth, necessitating effective management strategies.

Impact of COVID-19 on India PVC Pipes Market

COVID-19 pandemic adversely affected the India PVC pipes market. The initial lockdowns and disruptions in the supply chain led to a temporary setback in production and distribution. Reduced construction and infrastructure activities during the pandemic's peak affected the demand for PVC pipes. However, as the government initiated various economic stimulus measures and infrastructure development projects, the market gradually recovered. The pandemic also heightened the importance of sanitation and water supply, driving demand for PVC pipes in applications like sewage and potable water systems. Overall, while the market faced short-term challenges, it displayed resilience and adapted to the evolving circumstances.

India PVC Pipes Market

Segmental Coverage

India PVC Pipes Market – By Type

By type, the India PVC pipes market is divided into Chlorinated, Plasticized, Unplasticized segments. The chlorinated segment holds the highest share in the India PVC pipes market by type. CPVC (Chlorinated Polyvinyl Chloride) pipes are a type of thermoplastic created by chlorinating polyvinyl chloride resin. They offer numerous advantages, including being lightweight, easy to transport, available in various sizes, and characterized by long-term reliability and durability. Notably, CPVC pipes exhibit remarkable resistance to corrosion and have an extended service life. Their ability to withstand extreme temperatures, up to 200°F, makes them more flexible than traditional PVC pipes. As a result, the increasing demand for CPVC pipes in diverse sectors like irrigation, sanitation, and construction is propelling their dominance in the market. Furthermore, the Indian government's substantial investments in housing, sanitation, construction, irrigation, and environmental initiatives, such as "housing for all" and the development of "100 smart cities," create substantial growth opportunities for the India PVC pipes market, ensuring its sustainable expansion in the future.

India PVC Pipes Market – By Material

Based on material, the India PVC pipes market is divided into PVC Resin, Stabilizers, Plasticizers, Lubricant, and Pigment Base segments. The stabilizers segment holds the highest share in the India PVC pipes market by material. UV light and heat can negatively affect PVC molecules, causing their stability to deteriorate. When PVC is exposed to heat, it can break down the polymeric chains and release hydrochloric acid gas, initiating a degradation process that generates corrosive hydrochloric acid and other harmful gases. To prevent this degradation, stabilizers are utilized, often containing metal salts that react with hydrochloric acid to halt further deterioration. Some stabilizers combine multiple metals for protection against UV radiation. Calcium-Zinc-based (Ca-Zn) stabilizers, widely used in both flexible and rigid PVC applications, offer favorable mechanical and electrical properties, clarity, and organoleptic qualities. Stabilizers are essential for enabling PVC pipes to endure outdoor conditions, making them increasingly important in the India PVC pipes market.

India PVC Pipes Market – By Application

Based on application, the India PVC pipes market is divided into Irrigation, Water Supply, Sewerage, Plumbing, Oil & Gas, and HVAC segments. The irrigation segment holds the highest share in the India PVC pipes market by application. PVC pipes are extensively employed in agriculture for irrigation due to their robust, cost-effective, and long-lasting nature. They serve as a conduit for transporting water from main lines to sprinklers or drip irrigation systems, enhancing water conservation. Rigid PVC pipes are suitable for underground installations, safeguarded from temperature fluctuations and farming-related risks. However, they may crack in freezing conditions, limiting their use to some extent. Nevertheless, the expanding irrigation network and water infrastructure development in India are expected to boost the PVC pipe market in the country, especially in agricultural applications.

India PVC Pipes Market – By Region

Regionally, the India PVC Pipes Market is segmented as North India, South India, East India, and West India. East India region holds the highest share in the India PVC pipes market. This region experiences substantial agricultural activities, which are a significant consumer of PVC pipes for irrigation purposes. The presence of fertile agricultural land and the need for efficient water distribution systems drive the demand for PVC pipes. Also, East India has witnessed rapid urbanization and industrialization, necessitating the use of PVC pipes in construction and infrastructure projects. Notably, government initiatives and investments in the development of irrigation facilities and water supply systems have further propelled the demand for PVC pipes in this region, contributing to its leading share in the market.

Competitive Landscape

Major players operating in the India PVC pipes market include Finolex Industries Limited, Ori-Plast Limited, Captain Pipes Ltd, Savera Pipes, Apollo Pipes, Prince Pipes and Fittings Ltd, Utkarsh Tubes & Pipes Limited, Dutron Polymers Limited, Kankai Pipes & Fittings Private Limited, and Astral Poly Technik Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In June 2023 - Adani Group resumed its investment plan for the Mundra Petrochem Ltd PVC plant, India's largest. The group obtained in-principle approval for a credit line of up to INR 14,000 crore from multiple banks. The total project cost is expected to be around INR 35,000 crore, and a consortium of local banks, mostly state-run lenders, is providing funds, with private lenders contributing at least INR 4,500 crore. The group will seek an additional USD 2 billion for the Mundra project after fully utilizing the initial USD 2 billion sanctioned. Adani had previously put the project on hold due to financial constraints but is now accelerating financial closure and engineering design activities.

• In March 2023 - Finolex Industries initiated commercial operations at its newly established PVC fittings manufacturing plant in Pune, Maharashtra, starting from March 12, 2023. With an annual capacity of 12,000 MT, this facility represents an investment of approximately INR 100 crore, entirely funded through internal accruals. As the company is the third-largest participant in the PVC resin market and one of India's prominent PVC pipe manufacturers, this expansion aims to meet the rising market demands. In Q3 FY23, Finolex Industries faced a 55.2% decline in consolidated net profit, while net sales saw an 11.9% year-on-year increase, reaching INR 1,124.76 crore.

• In January 2023 - Truflo by Hindware, known for its plastic pipes and fittings, expanded into the PTMT segment, including faucets and flush tanks. This category is growing, especially in tier II and III cities, and is expected to exceed INR 15 billion. Despite challenges like fluctuating PVC prices, Truflo reported growth, particularly in CPVC pipes and fittings. Government attention to water operations supports the demand for PVC pipes in building and infrastructure development.

Scope of the Report

By Type

• Chlorinated

• Plasticized

• Unplasticized

By Material

• PVC Resin

• Stabilizers

• Plasticizers

• Lubricant

• Pigment Base

By Application

• Irrigation

• Water Supply

• Sewerage

• Plumbing

• Oil & Gas

• HVAC

By Region

• North India

• South India

• East India

• West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India PVC Pipes Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growth and expansion of agricultural sector
         2. Surging government initiatives in the construction sector
      2. Restraints
         1. Presence of alternative options
         2. Fluctuating raw material prices
      3. Opportunities
         1. Increasing focus on rural infrastructure development
         2. Increasing infrastructure development
      4. Challenges
         1. Surging environmental concerns
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India PVC Pipes Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Chlorinated
         2. Plasticized
         3.  Unplasticized
      2. By Material
         1. PVC Resin
         2. Stabilizers
         3.  Plasticizers
         4.  Lubricant
         5. Pigment Base
         6.  Others
      3. By Application
         1. Irrigation
         2.  Water Supply
         3. Sewerage
         4.  Plumbing
         5. Oil & Gas
         6.  HVAC
         7. Others
      4. By Region
         1. North India
         2. South India
         3. East India
         4. West India
5. North India PVC Pipes Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
6. South India PVC Pipes Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
7. East India PVC Pipes Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
8. West India PVC Pipes Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Material
      3. By Application
9. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India PVC Pipes Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India PVC Pipes Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Finolex Industries Limited
    2. Ori-Plast Limited
    3. Captain Pipes Ltd.
    4. Savera Pipes
    5. Apollo Pipes
    6. Prince Pipes and Fittings Ltd.
    7. Utkarsh Tubes & Pipes Limited
    8. Dutron Polymers Limited
    9. Kankai Pipes & Fittings Private Limited
    10. Astral Poly Technik Limited
    11. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       India PVC Pipes Segmentation  

Figure 2       India PVC Pipes Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Figure 5       India PVC Pipes Market Share, By Type, By Value, 2019–2029   

Figure 6       India PVC Pipes Market Share, By Material, By Value, 2019–2029        

Figure 7       India PVC Pipes Market Share, By Application, By Value, 2019–2029

Figure 9       North India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Figure 10     North India PVC Pipes Market Share, By Type, By Value, 2019–2029

Figure 11     North India PVC Pipes Market Share, By Material, By Value, 2019–2029        

Figure 12     North India PVC Pipes Market Share, By Application, By Value, 2019–2029    

Figure 13     South India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Figure 14     South India PVC Pipes Market Share, By Type, By Value, 2019–2029

Figure 15     South India PVC Pipes Market Share, By Material, By Value, 2019–2029        

Figure 16     South India PVC Pipes Market Share, By Application, By Value, 2019–2029   

Figure 17     East India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Figure 18     East India PVC Pipes Market Share, By Type, By Value, 2019–2029

Figure 19     East India PVC Pipes Market Share, By Material, By Value, 2019–2029

Figure 20     East India PVC Pipes Market Share, By Application, By Value, 2019–2029

Figure 21     West India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Figure 22     West India PVC Pipes Market Share, By Type, By Value, 2019–2029

Figure 23     West India PVC Pipes Market Share, By Material, By Value, 2019–2029

Figure 24     West India PVC Pipes Market Share, By Application, By Value, 2019–2029    

List of Tables

Table 1        India PVC Pipes Segmentation  

Table 2        India PVC Pipes Market Value Chain Analysis

Table 3        Company Market Share Analysis, 2022

Table 4        India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Table 5        India PVC Pipes Market Share, By Type, By Value, 2019–2029   

Table 6        India PVC Pipes Market Share, By Material, By Value, 2019–2029        

Table 7        India PVC Pipes Market Share, By Application, By Value, 2019–2029

Table 9        North India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Table 10      North India PVC Pipes Market Share, By Type, By Value, 2019–2029

Table 11      North India PVC Pipes Market Share, By Material, By Value, 2019–2029                  

Table 12      North India PVC Pipes Market Share, By Application, By Value, 2019–2029    

Table 13     South India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Table 14      South India PVC Pipes Market Share, By Type, By Value, 2019–2029

Table 15      South India PVC Pipes Market Share, By Material, By Value, 2019–2029                  

Table 16      South India PVC Pipes Market Share, By Application, By Value, 2019–2029   

Table 17      East India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Table 18      East India PVC Pipes Market Share, By Type, By Value, 2019–2029

Table 19      East India PVC Pipes Market Share, By Material, By Value, 2019–2029

Table 20      East India PVC Pipes Market Share, By Application, By Value, 2019–2029      

Table 21       West India PVC Pipes Market Size, By Value (USD Million), 2019–2029

Table 22      West India PVC Pipes Market Share, By Type, By Value, 2019–2029

Table 23     West PVC Pipes Market Share, By Material, By Value, 2019–2029

Table 24      West India PVC Pipes Market Share, By Application, By Value, 2019–2029    

Table 25      Finolex Industries Limited Company Overview

Table 26      Finolex Industries Limited Financial Overview

Table 27      Ori-Plast Limited Company Overview

Table 28      Ori-Plast Limited Financial Overview

Table 29      Captain Pipes Ltd. Company Overview

Table 30      Captain Pipes Ltd. Financial Overview

Table 31      Savera Pipes Company Overview

Table 32      Savera Pipes Financial Overview

Table 33      Apollo Pipes Company Overview

Table 34      Apollo Pipes Financial Overview

Table 35      Prince Pipes and Fittings Ltd. Company Overview

Table 36      Prince Pipes and Fittings Ltd. Financial Overview

Table 37      Utkarsh Tubes & Pipes Limited Company Overview

Table 38      Utkarsh Tubes & Pipes Limited Financial Overview

Table 39      Dutron Polymers Limited Company Overview

Table 40      Dutron Polymers Limited Financial Overview

Table 41      Kankai Pipes & Fittings Private Limited Company Overview

Table 42      Kankai Pipes & Fittings Private Limited Financial Overview

Table 43      Astral Poly Technik Limited Company Overview

Table 44      Astral Poly Technik Limited Financial Overview