The Polyvinyl chloride (PVC) market share is expected to grow from USD 22 Billion in 2019 to USD 72 Billion in 2030, with a compound annual growth rate of 4.5% during the period forecast. 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 industry's 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 industry growth over the forecast period.
Polyvinyl chloride industry Segmentation
The MRFR report offers a wide segmental analysis of the polyvinyl chloride industry on the basis of end use, type, and application.
Based on type, the polyvinyl chloride industry is segmented into flexible and rigid.
Based on application, the polyvinyl chloride industry is segmented into cables, bottles, firms and sheets, tubes and profiles, pipes and fittings, and others.
Based on end use, the polyvinyl chloride industry is segmented into automotive, construction, consumer goods, packaging, and others.
Polyvinyl chloride industry Regional Analysis
By region, the polyvinyl chloride industry 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 industry 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.
Polyvinyl chloride industry Key Players
Leading players profiled in the polyvinyl chloride industry 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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