No PVC, it can shatter. I'd use copper but in commercial settings iron pipe is always used.
I run air piping almost every day. PVC will shatter... eventually. On Commercial systems there is always oil vapor from the big compressors that will degrade PVC and cause it to rupture. If the compressor's cut out pressure happens to stick and overpressures a PVC pipe system, it would be like a grenade going off with lethal shrapnel. People have been killed because of this. If the compressor is an oiless type PVC will withstand quite a lot of pressure, but PVC ages and degrades, after about 5-6 years I would not trust it's strength and would replace it.
Other alternatives include copper, black pipe, and galvanized pipe. Low point drains should be included in the system and an air dryer if you can afford one, if not at least a good air filter that may catch some vapor.
I mostly install black pipe for air, copper for gases such as argon, nitrogen, helium,etc. and galvanized for sytems that do not want to get any rust particles in their sytems. Stainless is also run in some clean enviroments.
If you decide to run PVC, I would recommend at least sch 80 thickness pipe.