Polyvinyl Chloride Market is pegged at a steady CAGR of 4.2% through the course of projection period 2029

Global polyvinyl chloride (PVC) market is pegged at a steady CAGR of 4.2% through the course of projection period (2019-2029). While construction remains prominent end-use segment, pharmaceuticals will witness increased uptake of PVC for production of medical devices. In view of PVC’s environmental implications, R&D activities are projected to accelerate through 2029.

PVC is being extensively utilized in industrial, commercial and household sectors. Accelerating infrastructure projects in developing countries are substantial growth contributors of polyvinyl chloride (PVC) market. However, the industry is receiving headwinds from mounting environmental concerns in view of toxic fumes emitted during PVC production. Leading manufacturers are thus focused on enhancing the sustainability aspect of their business by developing eco-friendly alternatives.

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Key Takeaways of the Market Study

  • Pipes & fittings will remain the leading end-use category.
  • Rising infrastructural activities in emerging countries is steering the demand for PVC.
  • Rigid form of PVC to remain preferred variant through 2029 owing to diverse applications such as automotive and construction.
  • Attributes such as high corrosion resistance, endurance and durability are complementing the market growth.
  • Manufacturers continue to tap opportunities in PVC alternatives to fortify their market hegemony.
  • Gains in global market would remain concentrated in Asia Pacific.
  • The US market is set to register double-digit CAGR during the forecast period.
  • Fluctuation in raw material prices would continue to be a major roadblock for PVC market growth.

Premier companies in the PVC space must undertake R&D and expansion projects to deliver five key performance criteria as opined by consumers – innovation, communication, quality, performance and regulatory compliance.

Asia Pacific Procures More than 61% Market Share

Use of PVC in wide spectrum of end-use industries such as manufacturing, automotive and construction is hurtling the Asia Pacific market. Emerging countries such as China, Indonesia, Vietnam and India will augment the demand for PVC through 2029. Therefore, Asia Pacific accounts for majority share in PVC market on the back of rapid industrialization.

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On the other hand, consumers in developed markets such as the United States have greater economic wealth. This is a key driver fuelling the rise of PVC alternatives such as high-density polyethylene (HDPE). Such recyclable substitutes of PVC are increasingly being favored by consumers and manufacturers alike.

Innovation to Remain Crucial Strategic Tenet of Leading PVC Producers

Key players profiled in this FMI study, include but are not limited to, Arkema S.A., Ineos Chlorvinyls Ltd., BASF SE, Chinyang Chemical Co. Ltd., Saudi Plastic Products Company Ltd., Formosa Plastics Corporation, Premier Polyfilm Ltd., The Chemical Company, and Occidental Petroleum Corporation.

Competitive leadership in global market will be determined by product innovation and sustainability efforts during 2019-2029. For instance, INOVYN was voted by consumers for ‘Best Polymer Producers Awards for Europe 2017’. The company announced its plans for expanding its operations in Norway (2018).

Polyvinyl Chloride (PVC) Market Segmentation

The global polyvinyl chloride market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

By Type

  • Rigid
  • Flexible

By End Use

  • Construction
  • Electrical Cables
  • Transportation
  • Packaging

By Application

  • Pipes & Fittings
  • Films & Sheets
  • Cables
  • Pastes
  • Profiles

By Region

  • North America
  • Latin America
  • Europe
  • MEA
  • Asia Pacific

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About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.

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