Kuwait PVC Pipes Market Research Report, Upcoming Trends, Demand, Regional Analysis and Forecast 202
According to the latest report by IMARC Group, titled “Kuwait PVC Pipes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Kuwait PVC pipes market size grew at a CAGR of 6% during 2013-2018. Kuwait is one of the wealthiest countries in the GCC region, with a high per capita income. It is currently experiencing a rise in the demand for polyvinyl chloride (PVC) pipes owing to the associated benefits such as lightweight and non-corrosive nature. Moreover, as these pipes are cost-effective, easy to install, have high tensile strength and can withstand high fluid pressure, they are rapidly replacing conventional metal pipes in plumbing applications in the country. Moreover, the production of PVC pipes consumes nearly four times lesser energy and incurs relatively lower losses of raw materials than metal pipes. In addition to this, these pipes are widely utilized in telephone ducting and electrical conduits since they offer advantages such as smooth internal bore, a wide range of diameters and high impact strength.
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Kuwait PVC Pipes Market Trends:
With the implementation of the 5 Year Development Plan (2015-2020), Kuwait is witnessing an increase in several construction projects that are either underway or in development. The governing authorities in the country are spending substantially on residential and commercial construction projects which, in turn, is strengthening the growth of the PVC pipes market in Kuwait. Apart from this, Kuwait’s coast is located near one of the shallowest and most saline sections of the Arabian Gulf. Therefore, the country depends on the desalination process to meet its potable water requirements. The government is further investing in water treatment plants to mitigate the negative impact of the wastewater on the environment. Besides this, the Kuwait Public Housing Authority is increasingly employing PVC pipes in mega-housing projects to accommodate the increasing population in the country. Besides this, complete recyclability of PVC makes the environmental footprint of these pipes far smaller than the alternative piping materials which is boosting the sales of these pipes in Kuwait. On account of these factors, the market is projected to witness moderate growth during 2019-2024.
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