Favourable government policies
Expanding agriculture sector coupled with strong growth in infrastructure development, rapid industrialization and rising urbanization are the key factors expected to push the demand for PVC at CAGR of 6.81% during 2019-2030.
The demand will reach 6,779 KTPA by 2030 from 2,888 KTPA in 2018, said a report “India PVC Comprehensive Techno-Commercial Market Analysis and Forecast, 2013-2030” by ReseaerchAndMarkets on 20 June 2019.
Moreover, increasing investments in residential and commercial infrastructure are further propelling the demand for PVC in the pipes & fittings production industry.
Additionally, growing usage of PVC in flooring application across domestic (living room, bedroom, etc.), commercial (schools, hospitals, etc.) and industrial (warehouses, production plants, etc.) premises, owing to its durability, ease of installation, recyclability and availability in variable thicknesses would aid the market.
Favorable government policies and investments, growing population and rising construction activities in the country are further anticipated to drive the Indian PVC market during 2019-2030, said the report. fiinews.com
