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It is the standard white plastic pipe used for drainage and plumbing. PVC, or polyvinyl chloride, has increasingly replaced metal piping in construction.
PVC is one of the most extensively used plastics in the world due to its strength, durability, simplicity of installation, and low price.
Thermoplastic PVC is moulded into a variety of shapes to make pipes, fittings, valves, and other supplies for handling liquids. PVC is frequently used for vent and drainage systems, as well as for unheated water.
PVC pipe is increasingly employed in earthquake-prone locations because of its capacity to tolerate high movement and bending; it can withstand the violent shaking of the ground without suffering any harm.
Additionally resistant to bacterial contamination is the pipe’s flat surface. As a result, PVC pipes are frequently used by water providers in their systems to prevent contamination.
Astral, a manufacturer of PVC pipes and plastic products, announced that it will pay a certain amount to purchase a majority ownership in Gem Paints, enabling the Ahmedabad-based company to diversify into the paints market.
After the purchase was authorised by Astral’s board, a definitive agreement was made with Gem Paints and its shareholders.
Astral would make an initial investment in Gem Paints Private Limited by purchasing optionally convertible debt obligations equal to the value of Gem Paints’ operating paint business equity interest.
According to the Share Purchase Agreement, Astral will purchase the remaining of the equity holding over the course of a number of years.
The India PVC Pipes Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
