Solvent cement is preferred for fast, easy, and stronger assembly of PVC pipes. The solvent cement market is anticipated to grow at a significant rate in the coming years due to growing demand for PVC pipes in construction and irrigation activities. Growing demand for residential houses in urban areas are a major growth driver of the solvent cement market. Asia Pacific is the major market for solvent cement due to growing construction and infrastructure activities in several developing countries in this region. Growth in different types of pipes (PVC, CPVC etc.), are anticipated to encourage the demand for solvent cement across the globe. However, detrimental impact of plastic is expected to hamper the demand for plastic pipes, which ultimately affects the demand for solvent cement.
Solvent Cement Market – Competitive Landscape
The solvent cement market has several international and domestic companies. Leading players are focusing on further innovation in products and business expansion to enhance their market share.
- In April 2016, IPS Corporation announced the acquisition of Roof Top Blox. Roof Top Blox. This company will be integrated into with IPS’ two U.S. master distribution centers, as well as in Canada.
- Companies are focusing on regional expansion by collaborating with domestic companies to expand their customer base. For example, HP International is increasing its presence across the globe by collaborating with companies in the U.S and Europe.
Major players in the solvent cement market are making considerable investment in R&D facilities to widen their product portfolio to meet the expanding market demand.
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King Pipes and Fittings
Founded in 1996, King Pipes and Fittings, a key player in the solvent cement market has its headquarters in Rajkot, India. The company is involved in manufacturing and trading a wide range of PVC and UPVC pipe fittings. It has around 500 employees. The product portfolio of the company includes CPVC pipes, UPVC pipes and fittings, solvent cement etc.
Finolex Industries Limited
Established in 1981, Finolex Industries Limited is based in Gujarat and Maharashtra, India. It has three power plants in India and around 15,000 direct and indirect outlets. The company’s product portfolio includes agriculture pipes and fittings, and plumbing sanitation pipes and fittings.
HP International Ltd.
HP International Ltd. is a flagship company of the HP group founded in 1978. The company manufactures solvent cement and is active in a diverse range of business streams including adhesives, plumbing, textiles, plumbing accessories, logistics, real estate, and engineering industries. It has presence across 40 countries and has collaboration with several companies in the U.S. and Europe to increase its international presence.
Several international and domestic players are involved in manufacturing solvent cement. These include Advance Agrisearch Limited, Adon Chemical, Neoseal, Kenon Adhesives Pvt. Ltd., and IPS Corporation.
Solvent Cement Market – Dynamics
Significant growth in construction industry in developing regions
Growing urbanization and industrialization are boosting construction and infrastructure activities in developing countries, especially in the Asia Pacific region. This is expected to boost the demand for solvent cements in the coming years. Industrialization is leading to migration of people to urban areas. This is encouraging demand for residential houses which is supportive for the growth of the solvent cement market.
Growing demand from agriculture sector and boost in irrigation activities
Growth in demand for pipes and fittings from the agriculture sector, and irrigation development across regions is also anticipated to boost the demand for solvent cement. Governments of different countries are taking initiatives to promote irrigation activities which is also expected to drive the growth of the solvent cement market.
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