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Polyvinyl Chloride (PVC) Market Size to Hit USD 105.8 Bn by 2030

·8 min read
Precedence Research
Precedence Research

The global polyvinyl chloride (PVC) market size is projected to hit around USD 105.8 billion by 2030 and it is growing at a CAGR of 3.15% from 2022 to 2030, according to new study by Precedence Research.

Tokyo, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The global polyvinyl chloride (PVC) market was valued at USD 85.53 billion in 2022. Polyvinyl chloride is the most extensively formed polymer, after polypropylene and polyethylene. Polyvinyl chloride is amorphous with chlorine atoms and has fire-resistant belongings and oil/biochemical resistance. Polyvinyl chloride is the more extensively used plastic and is formed by monomer polymerization of vinyl chloride. It is segmented into two forms flexible and rigid.

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The flexible Polyvinyl chloride is used in electric cable lining, plumbing, simulated leather, and signage. The rigid Polyvinyl chloride is used in the industrial production of doors and windows, plastic bottles, and pipes. Polyvinyl chloride is generally used in construction, electrical, automotive, and packaging industries, owing to its several belongings like lightweight, decent automatic strength, abrasion resistance, and durability related to it.

Key Insights:

  • The U.S. polyvinyl chloride market was reached at USD 18.5 Bn in 2021.

  • China polyvinyl chloride market size is expected to hit USD 18.7 bn by 2030 growing at a CAGR of 7.9% from 2022 to 2030.

  • Germany polyvinyl chloride market is expected to reach at a CAGR of 3.5% from 2022 to 2030.

  • Latin America region is predicted to hit at a CAGR of 7.6% in next ten years.

Report Highlights

  • Polyvinyl chloride is lightweight, rotting, strong, tough to weathering, versatile, chemical corrosion, abrasion, and relaxed to usage, as PVC can be shaped, cut, welded, and linked in somewhat elegance. These features make it perfect for several importance-like windows, pipes, roofing, and flooring.

  • Polyvinyl chloride flooring has some applications like the independence of aesthetic properties, cleaning, durability, comfort in connection, and recyclability. polyvinyl chloride is also applicable in scheduling in the industry of building and construction. Polyvinyl chloride is used for its less-conservation necessities and ongoing wildlife.

  • The growing organization-building actions are the main factors boosting the Middle East, the Asia-Pacific, and North America.

  • The United States takes one of the global major building businesses. Though, housing buildings deteriorated due to COVID-19, which affected the market for polyvinyl chloride.

  • China has the major building marketplace worldwide, surrounding 20% of all building funds. Rendering to China’s National Bureau of Statistics, in 2020, the building business in China created an additional worth.

  • All these features are likely to increase the market for PVC by a reasonable amount during the period of forecast.

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Scope of the Report

Report Attributes

Details

Market Size in 2021

USD 80 Billion

Revenue Forecast by 2030

USD 105.8 Billion

CAGR

3.15% from 2022 to 2030

Largest Market

Asia Pacific

Fastest Growing Region

North America

Base Year

2021

Forecast Year

2022 to 2030

Key Players

3M (U.S.), ADEKA CORPORATION (Japan), Afton Chemical (U.S.), Akzo Nobel N.V. (Netherlands), Arkema (France), Avient Corporation (US), Braskem S.A., Chemplast Sanmar Limited (India), China National Chemical Corporation, Clariant (Switzerland), Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.), Dow (U.S.), DuPont (U.S.), Eastman Chemical Company (U.S.), Westlake Chemical Corporation (US), Others

Regional snapshot:

Amongst all these counties, the Asia Pacific section will control this market, and the motive is credited to a rise in the manufacture of plastic products. The factors like low business situation, debt crisis, and sluggish money regaining, the European country will observe average progress throughout the forecast. Owing to features corresponding to quick industrial development, increasing manufacturing segments, and high funds for organizational growth, India and China are observing a prominent growth for Polyvinyl chloride.

The financial prudence of Latin America like Brazil and Mexico will be observing money-making evolution due to an increase in the construction business growth. The growth of Polyvinyl chloride in several important building manufacturing fascinating huge funding in this market. The Middle East and African country will similarly experience constant growth through the valuation period.

Market Dynamics

What are the drivers of polyvinyl chloride market?

  • The worldwide construction market for all construction movements is a developing market. The worldwide building market is anticipated to enlarge quickly during the period of forecast, with India and China involved knowingly. China reached the U.S. to convert a prominent building market. The structure market in China is likely to enlarge at a fast step in the adjacent forthcoming.

  • PVCs are used for packaging things like apparatus packaging, electronic & consumer goods packaging, medical devices, and sleeving of the bottle.

  • The worldwide market of polyvinyl chloride is mainly motivated by development in the building industry, due to the widespread use of polyvinyl chloride in the industrial sectors, household, and commercial.

  • Polyvinyl chloride is mainly used in profiles and pipes & fittings in the building segment. The foremost purpose behind the development of the market for polyvinyl chloride segment is wide-range use in the automotive industry and construction.

  • Also, plasticized polyvinyl chloride is used in the preparation of sills and windows frame and is becoming very well-known nowadays and is the foremost feature responsible for the market growth.

Restraints

The Covid-19 limitations affected the PVC market to a more amount as various end-user businesses which use Polyvinyl chloride in their varied importance remained stationary from working owing to the danger of the public getting infected or ill by the virus of Covid-19.

Similarly, through the production of PVC, numerous hazardous gases are produced at the termination of the procedure which is injurious to the well-being of human beings. Also, the ecological dangers produced by the use and removal of Polyvinyl chloride are expected to hinder the market growth. This is an additional feature predicted to limit the development of the PVC industry.

What are the opportunities of polyvinyl chloride market?

  • Ethylene and chlorine are mixed to form a monomer of vinyl chloride. Approximately non-chlorinated vinyl like PEVA, PVB, EVA, and PVA, are existence used as straight alternatives for Polyvinyl chloride. Polyvinyl chloride is the major cause of the release of dioxin which is an extremely carcinogenic or cancer-causing biochemical formed through the production and removal of polyvinyl chloride.

  • Polyvinyl chloride is formed by vinyl chloride polymerization. The alteration in the direction of biodegradable Polyvinyl chloride is expected to generate profitable opportunities for the market of polyvinyl chloride.

Challenges

  • The manufacturing price of polyvinyl chloride is extremely inclined by the charges of the matter raw resources like ethylene, chlorine, and acetylene. Instability in the values of raw resources, particularly in the Asia Pacific, is limiting the market of PVC.

Related Reports

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Recent Developments

  • A Company Westlake Chemical acknowledged the introduction of GreenVin™ Polyvinyl Chloride, GreenVin™ is a lower-carbon substitute PVC, over its Vinnolit subordinate in Germany in November 2021. The auxiliary PVC furthermost used plastic in the medical, construction, and automotive sectors. The installation of GreenVin™ PVC is in series with the overview of GreenVin™ acidic soda with the creation is predicted to increase the Corporation's hydrogen products and vinyl chloride in the coming years.

  • Shintech recognized a primary venture to enhance its combined PVC professional, Shin-Etsu Biological Co. Ltd in January 2021. Shintech’s PVC manufacture volume is anticipated to impact million metric tons each year. US subsidiary will in addition increase the production volume of Shintech Inc.

  • The Nationwide Oil Co. of Abu Dhabi, and UAE's AD Ports, or ADNOC, strategies to collaboratively harvest liquors worldly and logistics amenities positioned in the manufacturing center of Ruwais to help TA'ZIZ petrochemical developments allocated for a start-up in November 2021. ADNOC Services & Logistics and AD Ports Gathering will concept plants to aid residents of the TA'ZIZ Manufacturing Materials Region in Ruwais.

  • Orbia deliberate trading its PVC Component owing to appeal restrictions in January 2021. Though, the concluding result on the divestment is not formally exposed.

Market Segmentation

By Type

  • Rigid PVC

  • Flexible PVC

  • Low-Smoke PVC

  • Chlorinated PVC

By Stabilizer Type

  • Calcium-based Stabilizers (Ca-Zn Stabilizers)

  • Lead-based Stabilizers (Pb Stabilizers)

  • Tin and Organotin-based (Sn Stabilizers)

  • Barium-based and Other Stabilizer Types (Liquid Mixed Metals)

By End Use

  • Construction

  • Electrical Cables

  • Automotive

  • Footwear

  • Transportation

  • Packaging

  • Other

By Application

  • Pipes & Fittings

  • Films & Sheets

  • Profiles & Tubes

  • Wire & Cables

  • Pastes

  • Bottles

  • Others 

By Raw Material

  • Ethylene dichloride

  • Acetylene

By Geography

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa (MEA)

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