Saudi Arabia PPR Pipes Market to Reach 24,186 Tons by 2024
According to the latest report by IMARC Group, titled “Saudi Arabia PPR Pipes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the Saudi Arabia PPR Pipes market size reached 21,357 Tons in 2018. Over the years, the construction industry in Saudi Arabia has experienced rapid expansion owing to the numerous public initiatives undertaken by the Government. As a result, it is currently witnessing a rise in the demand for various building materials. Among the different piping systems utilized in the country, PPR pipes have become a preferred solution due to their corrosion resistant properties, and environment-friendly as well as cost-effective nature. They also generate less build-up and friction and require no significant materials during installation as compared to galvanized pipes.
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Market Trends:
The Saudi Arabian economy has traditionally relied on the oil and gas industry to generate wealth. However, the Government has been diversifying the economy since the fall in oil prices in 2014 by creating alternative sources of income. In line with this, it has been investing in numerous infrastructural projects such as Vision 2030, and development of NEOM City, Jeddah Waterfront and Entertainment City. These projects have catalyzed the demand for PPR pipes in the country as they find applications in plumbing and wiring. Apart from this, as these pipes offer high mechanical strength, easy workability, resistance to stray electrical currents and low density, they are widely used in the irrigation and water distribution systems. To meet the domestic demand, PPR pipes manufacturers in the country are now focusing on import substitution by expanding their production capacities. Further, as Saudi Arabia is the largest producer and exporter of polymers and chemicals worldwide, it provides several opportunities to the manufacturers. Looking forward, the market volume is projected to reach 24,186 Tons by 2024, expanding at a CAGR of 2% during 2019-2024.
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Market Summary:
- On the basis of the type, the market has been bifurcated into high-pressure and low-pressure pipes. At present, high-pressure pipes represent the most popular type of PPR pipes in the country.
- Based on the application, the market has been segregated into plumbing; chemical industries and labs; and others. Amongst these, the plumbing sector accounts for the majority of the market share as PPR pipes and fittings are considered more reliable than other pipe systems.
- The competitive landscape of the market has also been examined with some of the key players being Al Munif Pipe, Tahweel Pipes, MT-Plast Company, Almona Plastic Products Ltd. Co., and Al Koblan Thermopipe Factory Co.
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