The GCC PVC Pipes market is projected to grow at a CAGR of around 4.57% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The growth is attributed to a surge in the construction of residential & commercial buildings. The GCC countries such as the UAE, Qatar, and Saudi Arabia, aiming to emerge as a global tourist hub, and to achieve this goal, these countries are actively engaged in infrastructural development involving residential projects, smart cities, malls, airports, etc. These newly constructed buildings require the installation of PVC pipes & fittings to ensure proper water supply & plumbing, hence contributing to the market growth.
Apart from it, the buildings also require the installation of these pipes to provide ventilation support to the HVAC system or centralized AC system as installed in these buildings. These pipes are fitted to transport the gases as well as wastewater to the storage tank. Thus, the growth within the construction sector would generate a heightened need for these pipes, thereby positively impacting the market. Along with it, the expansion of the oil & gas industry also requires the installation of PVC pipes & fittings to transport the pressurized water to the oil & gas-producing wells in order to ease out the extraction process.
Further, these pipes are also needed to transport the wastewater & other fluids generated while drilling & extracting the oil & gas to the storage tank. Hence, the growth within these sectors would result in increased adoption of these pipes, which, in turn, would positively impact the market in the coming years, further states the research report, “GCC PVC Pipes Market Analysis, 2023.”
Water Supply & Plumbing to Generate Demand
Based on application, the market is divided into Water Supply, Plumbing, HVAC, Irrigation, Oil & Gas Transportation, and Others (film sheet, wire cable, etc.). Due to the largescale influx of migrants within the GCC countries, the demand for housing & residential space is growing, as a result, these countries are working on developing new residential buildings & smart cities, such as NEOM City in Saudi Arabia. The newly constructed housing units require the fittings of PVC pipes to ensure proper water supply & underground drainage system.
Along with it, the requirement to properly dispose of the wastewater & other fluids generated by the centralized air conditioning system also creates an additional demand for these pipes. Thus, the construction of new residential buildings, commercial buildings, airports, etc., would result in the higher adoption of these pipes & further augment the demand during the forecast period.
Saudi Arabia to Capture the Prominent Share of the Market
Based on the countries, the market is divided into the UAE, Saudi Arabia, Oman, Qatar, Kuwait, and Bahrain. Geographically, Saudi Arabia retains the greatest share within the GCC PVC Pipes market due to the wide-scale presence of the oil & gas industry & the large-scale construction of new residential projects to support the rapid urbanization in the country. The country is actively engaged in the development of new urban areas with a large number of residential & commercial buildings along with it these areas are also equipped with water treatment & desalination plants to fulfill the growing water need of the people. These plants are fitted with PVC pipes to carry out the saline water & chemicals to the water treatment & tank. Post-treatment the freshwater is transported to the residential units & wastewater is sent to the storage tanks. Hence, to carry out this process, these pipes are needed, thereby boosting their adoption. The growing construction of new urban areas & desalinization plants is anticipated to generate expanded demand for PVC pipes in Saudi Arabia & create a positive market outlook for the market during 2023-28.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Polyfab Plastic Industry LC, Neroplast, Power Group of Companies, Modern Plastic Industries, Super Pipe, Dubai Polymer, Unitech Qatar, Qatar National Plastic Factory W.L.L, Pipes Technology Co. W.L.L, SAPPCO, etc., are looking forward to strengthening their market position.
Key Questions Answered in the Research Report