Polyvinyl chloride (PVC) is a synthetic polymer that is widely used in various applications due to its versatility, durability, and affordability. PVC is produced from the polymerization of vinyl chloride monomer, which is a colorless gas that is highly toxic and flammable. Therefore, the production process of PVC requires stringent safety measures to prevent any health or environmental hazards.
PVC is commonly used in the construction industry for applications such as pipes, fittings, and roofing sheets. It is also used in the manufacture of electrical cables, flooring, and medical devices. PVC can be easily molded into various shapes and sizes, making it suitable for a wide range of applications.
Over the forecast period (2019-2029), the polyvinyl chloride (PVC) market is anticipated to increase positively at a CAGR of about 4.2%. Pipe & Fittings is the main end-use industry driving the PVC market’s expansion.
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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.
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.
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).
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Polyvinyl Chloride (PVC) Market Segmentation
By Type
- Rigid
- Flexible
By End Use
- Construction
- Electrical Cables
- Transportation
- Packaging
By Application
- Pipes & Fittings
- Films & Sheets
- Cables
- Pastes
- Profiles
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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