Global Polyvinyl Chloride Market Report to 2027: Ongoing Construction Projects Around the Globe Drive Growth
Dublin, March 21, 2023 (GLOBE NEWSWIRE) -- The "Polyvinyl Chloride Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (Rigid PVC, Flexible PVC, Low Smoke PVC, Chlorinated PVC), By Stabilizer Type, By Application, By End User Industry, By Region" report has been added to ResearchAndMarkets.com's offering.
The global polyvinyl chloride market is projected to increase at an impressive rate through 2027. Polychlorethene and vinyl are other known scientific names for Polyvinyl Chloride, a high-strength thermoplastic plastic material that is an economical, durable, lightweight, and fire-resistance.
It is the third-largest thermoplastic material by volume in consumption after polyethylene and polypropylene. According to Statista, in 2018, the global production volume of PVC amounted to 44.3 million tons and is going to reach 60 million metric tons in 2025. Hence, the demand for PVC is going to increase to fulfill the increasing population need.
Apart from this, PVC is widely demanded in Various sectors such as food and beverage packaging, building & construction, transportation, electrical, and healthcare application. Therefore, the increase in the population led to an increase in the demand for the product. Thus, the global polyvinyl chloride market is expected to rise in market share in the projected year.
Ongoing Construction Projects Around the Globe are Driving the Market
Everyone needs the house for safe survival. As the population rises, the demand for homes is increasing within the market. Many construction activities are going on worldwide to ensure the fulfillment of the building demand.
According to the Statista report in 2021, the market size of the construction sector as per revenue is 6.4 trillion USD in 2020 and is expected to reach twice its size up to 14.4 trillion USD in 2030.
As the construction market's growth directly impacts the PVC market, an increase in demand for the PVC market will be expected. Polyvinyl Chloride is one of them that is demanded by different industries for production or operation.
Polyvinyl Chloride is used to manufacture window frames, drainage pipes, water service pipes, medical devices, blood storage bags, cable & wire insulation, resilient flooring, roofing membranes, stationary, automotive interiors & seat coverings, fashion & footwear, and packaging.
The graph of demand and supply chain of PVC is growing as time moves forward due to the diverse need of industries. Hence, there will be a positive impact on the global polyvinyl chloride market share.
There are drastic changes in the lifestyle of people due to urbanization and modernization. Almost everything around human society & environment is made up of electronic goods. PVC is one of the most preferred compounds used for making cabinets of electronic goods due to its resistance capacity.
According to Statista, the global electronic product market is valued at 1.190 billion USD per revenue and is expected to grow & reach up to 1.650 billion USD in 2025. Thus, the demand for the polyvinyl market is expected to be increased to fulfill the industry's needs and supply. PVCs are broadly used for packaging boxes of food and drinks because they are flexible and lighter in weight.
Furthermore, use in medicinal packaging, industrial chemical, edible ingredient, textile compound, and other variables will propel the market share. The global Polyvinyl Chloride market is expected to increase in the forecasted year.
Side-Effect of Polyvinyl Chloride on Health is Hindering the Market Growth
Polyvinyl Chloride can be a toxic chemical if not handled safely and appropriately. It contains lead, phthalates, organotin, and cadmium which can affect the health of human beings.
Thus, the toxicity of PVC is expected to hinder the growth of the PVC market. Due to changes in global relations and war, there are considerable differences in demand and supply quantities leading to the fluctuation in prices. But there are many alternatives that marketers use to lower the disturbance's effect.
Increasing Efforts for Technological Development Driving the Growth
Ongoing research and development operation worldwide is driving it to sustainable development to ensure optimum and sensible use of the resources. Growing technological advancements make the manufacturer concerned about market value growth. Rising technological advancement led to the depreciation of production costs and wastage linked with increased industries.
There is a rise in the receiving funding for better development and enhancement of product from the government, and the different source is strengthening the market growth. For example, Ethylene and chlorine are combined to create a monomer of vinyl chloride, which is non-chlorinated and safer for health.
Companies Mentioned
Vestolit GmbH & Co. KG
Westlake Chemical Corporation
Formosa Plastics Corporation
INEOS Group AG
Kaneka Corporation
LG Chem Ltd.
Avient Corporation
Occidental Petroleum Corporation
China National Chemical Corporation
Saudi Basic Industries Corporation
Report Scope:
In this report, Global Polyvinyl Chloride Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Polyvinyl Chloride Market, By product type:
Rigid PVC
Flexible PVC
Low Smoke PVC
Chlorinated PVC
Polyvinyl Chloride Market, By stabilizer type:
Calcium-based Stabilizers (Ca-Zn Stabilizers)
Lead-based Stabilizers (Pb Stabilizers)
Tin and Organotin-based Stabilizers (Sn Stabilizers)
Others
Polyvinyl Chloride Market, By application:
Pipes & Fittings
Films & Sheets
Wires & Cables
Bottles
Others
Polyvinyl Chloride Market, By end user industry:
Electrical & Electronics
Construction
Healthcare
Automotive
Packaging
Others
Polyvinyl Chloride Market, By region:
North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
Australia
South Korea
Europe & CIS
Germany
France
United Kingdom
Spain
Italy
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
For more information about this report visit https://www.researchandmarkets.com/r/zbharx
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
