Philippines Plastic Pipes and Fittings Market is Expected to Grow at a CAGR of Over 10% in Next 5 Years: Ken Research

News provided by 18 Dec, 2018, 09:00 ET Share this article GURUGRAM, India, December 18, 2018 /PRNewswire/ -- Introduction of Cheaper Variants of Plastic Pipes: New and reasonably priced variants of

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18 Dec, 2018, 09:00 ET

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GURUGRAM, India, December 18, 2018 /PRNewswire/ --

Introduction of Cheaper Variants of Plastic Pipes: New and reasonably priced variants of plastic pipes with a wider user base have entered the market and have gradually increased the demand for plastic pipes and fittings. These pipes are lighter and easier to cut as a result is much more cost effective than metal pipes and easier to transport and install as well.

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Gradual Shift from PVC pipes to PE Pipes: PE Pipes include both High-Density Polythene Pipes and Low-Density Polythene Pipes. Such pipes provide good temperature resistance and are used in drainage systems and drip irrigation systems and are expected to drive up sales of the Plastic pipes and fittings industry in the coming years. Hence, there has been a gradual shift from PVC Pipes to PE pipes in Philippines.

Growth in Residential Sector: The Philippines property sector has witnessed steady growth over 2018, amid the country's bullish economy. The residential sector has witnessed increasing investment by the public and private sector alike. This would lead to an increase in use of Plastic pipes and fittings in their plumbing and water supply systems as well as sewerage systems.

Rising Focus on Irrigation: A major share of the demand for Plastic pipes comes from irrigation in the agricultural sector. It alone commanded around 40% of the Plastic Pipes industry revenue in 2017.

The Plastic Industry in Philippines is currently poised at central to downstream stages of manufacturing that has a direct impact on the Plastic pipes and fittings industry. The industry is devoid of an upstream to provide ethylene and propylene and thus needs to be imported. This makes the industry vulnerable to foreign exchange fluctuations that trickle down on the Plastic pipes and fittings industry as well.

Analysts at Ken Research in their latest publication "Philippines Plastic Pipes and Fittings Market Outlook to 2022- By Type of Plastic Pipes and Fittings (UPVC, CPVC, PE and PPR), By Quality of Plastic Pipes and Fittings (High, Medium and Low) and By End User Applications (Industrial and Irrigation, Sanitary, Electrical and Potable Water)" mentioned that in 2017, top 5 players dominated the market and accounted for approximately 70.0% of the market share on the basis of revenue.

Keywords

Key Segments Covered

By Type of Pipe

By Quality of Pipe

By Type of End User Application

Major Companies Covered:

For more information on the research report, refer to below link:

https://www.kenresearch.com/manufacturing-and-construction/machinery-and-parts/philippines-plastic-pipes-fittings-market/174221-97.html

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SOURCE Ken Research

Ken Research

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