The Indian plastic pipes industry clocked a ~10% CAGR over FY14-24, reaching INR 541b, driven by plumbing and irrigation, which accounted for 84% of total applications. CPVC, HDPE, UPVC, and PPR pipes reported strong growth, with PVC maintaining the largest market share.
This growth is anticipated to accelerate to ~14% CAGR over FY24-27, reaching ~INR 805b by FY27, driven by strong demand from housing, irrigation, water supply, and sanitation. Additionally, robust replacement demand will be a key growth driver, according to Motilal Oswal Financial Services,
Despite a 38% decline in residential launches during CY12-20, PVC and CPVC pipe sales have remained strong (growing 46% in FY20 over FY12), driven by replacement demand from aging GI pipes. With pipes accounting for only ~2-3% of total building costs, their high durability and cost-effectiveness have accelerated adoption. During real estate revivals, pipe companies have consistently outperformed, with sales growing 1.8x in FY24 over FY20.
Additionally, public infrastructure projects such as JJM (INR 670b allocation), irrigation schemes (PMKSY), and smart city developments continue to fuel demand. Around 52% of India’s cultivated land lacks irrigation, presenting a major growth opportunity for PVC pipes. With a strong replacement cycle and rising government investments, the pipe industry remains well-positioned for sustained growth.
The rapid adoption of new-age plastic pipes is transforming CGD, water supply, and infrastructure in India. With the government targeting 70% CGD coverage by 2030 and aiming to increase the gas mix from 6.7% to 15%, HDPE, MDPE, and PEX pipes are gaining traction due to their cost efficiency, flexibility, and corrosion resistance.
Beyond CGD, advanced polymer-based pipes are reshaping plumbing, irrigation, and industrial applications. CPVC pipes are driving hot and cold-water distribution, OPVC pipes are replacing Ductile Iron (DI) pipes in sewage and water projects, while HDPE pipes are playing a crucial role in micro-irrigation and smart city development. These innovations are expanding market potential and driving long-term industry growth.
