It goes without saying that the industrial pipe, valve and fitting (PVF) market was affected heavily during the height of quarantine due to the COVID-19 pandemic. This drastically changed the predicted outcome reported at the end of 2019 for 2020. While these changes have slowed growth, the industry is bouncing back with valuable lessons learned. Here’s what the current state of the industrial PVF market looks like moving forward into 2021.

How the Pandemic Affected the Industrial PVF Market

 Overcoming Project Backlog
Shutdowns due to the pandemic caused delays in non-essential work at the beginning of this year, putting schedules behind. Once work began again, many projects were given the green light to be completed but businesses found themselves in a predicament with a backlog in work. A delay in projects resulted in delayed revenue. This put a lot of strain on business operations, especially for smaller businesses.

Overcoming Backordered Supplies
Relying on PVF supplies from other countries experiencing shortages in the supply chain also contributed to the ability of whether or not projects that were restarted could be completed in a timely manner. Bigger companies that had a larger inventory of supplies fared better as they were more easily able to keep up with the return in demand.

Looking Ahead to 2021
So, what was learned from 2020’s challenges? Setting aside contingency funds is one lesson learned in order to ride out unexpected obstructions to operations. Keeping extra supplies on hand is another, as we cannot always rely on access to materials when we may need them. The continuation of most projects is a positive sign that the industry is bouncing back from the unanticipated losses that occurred earlier this year.

By putting the needs of the customer first and adapting to communication through digital platforms, those involved within the PVF industry have reinvented themselves to persevere in the face of uncertainty. They have also taken the knowledge they’ve learned from shortcomings exposed throughout this pandemic to help reinvent their business models. This has enabled them to continue to be productive and profitable with current restrictions and helped them to be more prepared for any future unanticipated setbacks.

If you and your crew find yourself behind on your company’s PVF projects due to a backlog in work and are in need of supplies, contact us. As a full-service PVF distributor, we provide the services and have access to the supplies you need to get your schedule back on track!