- Parag Chheda, Executive Director, Prince Pipes and Fittings
The plumbing industry in India has been growing consistently since the last decade. 'The domestic market size for the plastic pipes and fittings industry is approximately Rs 250 billion. It is estimated to grow at a CAGR of 12-14 per cent from 2017-2022,' says Parag Chheda, Executive Director, Prince Pipes and Fittings. He shares more on the industry and the company's plans.
How has the slump in real estate impacted demand for the pipes and fittings industry in India?
Real estate is a key end-use sector for plastic pipes and fittings in the country. There has been a slowdown since the introduction of RERA and GST;
the market had been stagnant as people were getting introduced to new policies laid by the government. However, the confidence of end-users is expected to improve with the introduction of RERA. Growth in population, urbanisation, surging demand from rural sector will be some of the key demand drivers for real estate.
Tell us about the current trends, arising from key demand drivers - commercial, hotel, residential, hospitals, any other?
In the current scenario, and going forward, infrastructure and urbanisation will be the growth drivers for this segment. With the government's focus in developing 100 smart cities in the country, there would be greater emphasis on redevelopment and better planning for upcoming projects. As per a CRISIL research, demand for plumbing pipes is expected to grow with the rise in construction activity in the metros as well Tier-II and Tier-III cities to drive demand for plastic pipes and fittings.
Considering the current market scenario, what are your key offerings? Any new launches?
We have introduced SILENTFIT - low noise-SWR piping system and CORFIT - underground double wall corrugated pipes (DWC). Low noise-SWR piping system is especially designed to reduce the noise associated with evacuation or discharge of drainage of water through sanitary pipes.
DWC pipes are manufactured using HDPE polymer. These pipes are used for conveying and facilitating smooth flow of sewerage and are resistant to various types of gases and chemicals that are generated due to purification of various ingredients flowing in the system.