NEW YORK, November 17, 2016 /PRNewswire/ --
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 of it'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 USD 1,000 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 in irrigation, 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.
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