global polyvinyl chloride market 2021 Executive Summary, Segmentation Forecast to 2030
Market Analysis
The global polyvinyl chloride market is predicted to touch USD 72.0 billion at a 4.5% CAGR over the forecast period (2022–2030), states the latest Market Research Future (MRFR) report. Polyvinyl chloride or PVC is basically a synthetic resin that is created from vinyl chloride polymerization. It is highly preferred over traditional materials, which include wood, copper, or iron in several profile applications owing to multiple benefits, alluring features, and operational efficiencies. PVC can be made soft and flexible with the addition of phthalates and plasticizers. In the soft and flexible form, it is used in inflatable products, plumbing, electrical cable insulation, and some applications that can replace rubber.
PVC has an extensive range of applications including plasticizers, healthcare, clothing, furniture, construction, and others. Today it exists in a plethora of consumer products which includes packaging, cling films, credit cards, bottles, and others. It is also used in several construction materials such as wallpaper, flooring, cables, pipes, window frames, to name a few. Due to its water resistance, durability, and affordability, PVC is ideal for shower curtains, boots, and raincoats.
Various factors are propelling the Polyvinyl Chloride Market growth. Some of these factors, according to the Market Research Future report, include burgeoning demand for polyvinyl chloride in the automotive and construction industries, rapid growth in consumer goods and packaging, and rising applications in the healthcare domain.
On the contrary, the shortage in feedstock supply owing to the rise in the price of different products and closing down of facilities is likely to hamper the polyvinyl chloride market growth over the forecast period.
Market Segmentation
The MRFR report offers a wide segmental analysis of the polyvinyl chloride market on the basis of end use, type, and application.
Based on type, the polyvinyl chloride market is segmented into flexible and rigid.
Based on application, the polyvinyl chloride market is segmented into cables, bottles, firms and sheets, tubes and profiles, pipes and fittings, and others.
Based on end use, the polyvinyl chloride market is segmented into automotive, construction, consumer goods, packaging, and others.
Regional Analysis
By region, the polyvinyl chloride market report covers the latest trends and growth opportunities across the Asia Pacific, North America, Europe, and the Middle East and Africa. Of these, the APAC region will spearhead the market over the forecast period. This is owing to expanding residential properties and numerous electrifying villages, towns, and cities. China is a key contributor in this region as it is the biggest worldwide producer and consumer of polyvinyl chloride.
The polyvinyl chloride market in North America will have the second-largest share in the market over the forecast period. This is owing to the region’s growing construction industry. The US is the key contributor in this region.
The polyvinyl chloride in Europe will have favorable growth over the forecast period. This is owing to the increase in auto parts manufacturing.
The polyvinyl chloride market in the Middle East and Africa is predicted to have a notable growth over the forecast period. The redesign and extension development ventures in this region is predicted to boost the market growth.
The polyvinyl chloride market in Latin America will have a steady growth over the forecast period. Mexico is the key contributor in this region owing to the presence of key automobile manufacturers.
Key Players
Leading players profiled in the polyvinyl chloride market report include I. du Pont de Nemours and Company (US), Xinjiang Zhongtai Chemical Co., Ltd. (China), Vinnolit GmbH & Co. KG (Germany), Kem One SAS (France), Mexichem, S.A.B. de C.V. (Mexico), Axiall Corporation (US), Occidental Petroleum Corporation (US), Ineos Group Limited (UK), Shin-Etsu Chemical Co., Ltd. (Japan), and Formosa Plastics Corporation (Taiwan). Key players are incorporating several strategies to strengthen their position in the market, such as product launches and innovations, expansions, research and development, partnerships, collaborations, and more.
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