China's plastic pipe market is forecast to register CAGR of 8.6% from 2016 to 2021

17-May-16
The future of Chinese plastic pipe market looks attractive with opportunities in the potable water supply, wastewater supply, agriculture sector, and chemical sector. The Chinese plastic pipe market is forecast to grow at a CAGR of 8.6% from 2016 to 2021, as per Lucintel. The major growth drivers for this market are infrastructure development, rise in construction activities, replacement of aging pipelines made of traditional materials, growing population, and growing urbanization rate. In this market, polyvinyl chloride, polyethylene, and polypropylene are the major raw materials used to manufacture plastic pipes in China. Lucintel predicts that the demand for PE (polyethylene) plastic pipes will experience the highest growth in the forecast period, supported by growing demand in the chemical sector and sewage applications. On the basis of its comprehensive research, it is forecast that the wastewater supply and potable water supply are expected to show above average growth during the forecast period. Within the Chinese plastic pipe market, potable water supply segment is expected to remain the largest application followed by wastewater supply applications. The growths of residential and commercial construction in China are expected to spur growth for this segment over the forecast period. For market expansion, the report suggests new product development, where the unique characteristics of the plastic pipes can be capitalized. Emerging trends, which have a direct impact on the dynamics of the market, are the increasing consumption of multilayer plastic pipe in gas distribution and increasing use of large diameter plastic pipes with increasing trenchless technology in construction industry. CHINA LESSO Group Holdings Limited, Yonggao Co Ltd., Zhejiang Weixing New Building Materials Co Ltd., Goody Science and Technology Co Ltd., and Cangzhou Mingzhu Plastic Co Ltd. are among the major manufacturers of the Chinese plastic pipe.
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