However, the report highlights challenges in raw material costs, specifically polyvinyl chloride (PVC). Volatility in PVC prices affects manufacturers’ margins, as sharp declines in PVC prices lead to inventory losses and distributor destocking. Despite these challenges, Jefferies expects the industry to maintain strong growth, especially with increasing infrastructure investments and ongoing demand from the housing sector. The plastic pipe segment has consistently outperformed the tiles sector in volume growth over the past two years, a trend expected to continue.