Polyvinyl Chloride Market Size – USD 61.90 Billion in 2018, CAGR of 3.9%, PVC Market Trends – The elevating demand for bio-attributed PVC.
New York, Feb. 13, 2020 (GLOBE NEWSWIRE) -- The Global Polyvinyl Chloride (PVC) market is forecast to reach USD 88.02 Billion by 2027, according to a new report by Reports and Data. Polyvinyl Chloride (PVC) can be defined as a versatile thermoplastic polymer. It is an economical option for heavy and expensive metals used in construction and building industry for producing window & door profiles, wire, and cable insulation, pipes (drinking and wastewater), and medical devices, among others. Some of its mentionable traits are excellent mechanical properties, which is abrasion-resistant, tough, lightweight, effective chemical resistance, flame retardance, durability and good insulation properties, and dielectric strength.
The presence of these traits have resulted in the extensive application in construction, electronics, packaging, and transportation sector, among others. Furthermore, continuous expansion of the automotive industry and rising demand for lightweight vehicles is also resulting in increasing demand for PVC in the automotive sector. The fact that PVC is widely available and easily recyclable also supports the growth of the market.
In regards to region, North America can be seen to occupy a considerable market share. The market share held by the region is resultant of the growing automotive sector, expansion of the healthcare sector, and growing packaging industry.
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Further key findings from the report suggest
- The Polyvinyl Chloride market held a market share of USD 90 Billion in the year 2018 that is forecasted to grow at a rate of 3.9% during the forecast period.
- In context to Product Type, the rigid PVC segment generated a higher revenue of USD 32.19 Billion in 2018, with a CAGR 3.6% during the forecast period. Its traits like excellent physical properties, stiffness, ease of fabrication, along with low-cost results in its extensive use in the construction of tanks, piping systems that contribute to higher revenue generated by this segment.
- In context to Resources, the bio-attributed PVC segment is projected to witness a faster growth rate of 5.3% during the forecast period, which is expected to occupy 35.0% of the market in 2027. The growth rate witnessed by the bio-attributed PVC resources segment is attributed to the formulation of stringent government regulations and legislations focusing on minimized use of non-renewable resources and the increasing emphasis on development of bio-attributed PVCs by the market players. The launch of the first-ever commercially available grade of bio-attributed PVC- BIOVYNTM by INOVYN is resulting in its growing popularity.
- In context to Application, the Film & Sheets segment is projected to witness the fastest CAGR of 4.5% during the forecast period. The growth rate witnessed by this segment is resultant of growth in the e-commerce sector and food packaging industry that results in the rising demand for PVCs in Film & Sheets segment.
- In regards to the region, Europe held 0% of the market in 2018, with a growth rate of 3.7% during the forecast period. Factors like continuous growth in the automotive industry, expanding construction, and logistics sector contributes to the market share occupied by this region.
- Key participants include BASF SE, Formosa Plastics Corporation, China National Chemical Corporation (ChemChina), Kem One SAS, INOVYN, Orbia, LG Chem, Occidental Petroleum Corporation, Xinjiang Zhongtai Chemical Co. Ltd, and SABIC.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/polyvinyl-chloride-pvc-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global Polyvinyl Chloride market according to Product Type, Resources, Emulsion Process, End-user, Application, and Region:
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Flexible PVC
- Rigid PVC
Resources Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Fossil based PVC
- Bio-attributed PVC
Emulsion Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Bulk polymerization
- Emulsion polymerization
- Suspension polymerization
End-User Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Electrical & Electronics
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- Film & Sheets
- Pipes & Fittings
- Wire & Cables
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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