Global Polyvinyl Chloride (PVC) Market to Reach US$ 63.7 Billion by 2032, Impelled by Rising Demand for Durable Packaging Solutions

June 23, 2022 | Chemical & Materials

According to the latest report by IMARC Group, titled " Polyvinyl Chloride (PVC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the global polyvinyl chloride (PVC) market reached a value of US$ 45.3 Billion in 2023. Polyvinyl chloride (PVC) refers to a thermoplastic material that is generally used in the production of various products, such as medical devices and building fittings. It is produced by the polymerization of the vinyl chloride monomer that is mainly available in flexible and rigid forms. It has good transparency retention for continual monitoring of fluid flow, is flexible, reduces the risk of fluid flow interruptions, retains its durability at low temperatures and exhibits excellent strength and toughness. Additionally, its properties can be enhanced by adding several additives, such as UV stabilizers, fillers, plasticizers, heat stabilizers, impact modifiers, pigments and flame retardants.

Global Polyvinyl Chloride (PVC) Market Trends:

The global market is primarily driven by the rising product application in the construction industry. This can be attributed to the increasing investments by public and private firms in infrastructural development projects across emerging economies. Moreover, the rising demand for PVC in the manufacturing of packaging solutions for personal care and household products is creating a positive market outlook. With continual developments in the healthcare infrastructure, there has been a considerable increase in the demand for medical tools and equipment, which is impelling the market across the globe. Furthermore, the escalating manufacturing and sales of vehicles on account of the inflating disposable income levels of the masses is propelling the demand for PVC on the global level. Other factors, including rapid urbanization and industrialization, the increasing product utilization in the manufacturing of furniture and footwear, continuous product innovations and extensive research and development (R&D) activities conducted by key players, are also favorably impacting the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 63.7 Billion by 2032, exhibiting a CAGR of 3.8% during 2024-2032.

Market Summary:

  • On the basis of the product type, the market has been segregated into rigid PVC, flexible PVC and others.
  • Based on the application, the market has been segmented into pipes and fittings, film and sheets, wire and cables, bottles, profiles, hoses and tubings and others.
  • On the basis of the end-use industry, the market has been classified into building and construction, automotive, electrical and electronics, packaging, footwear, healthcare and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Arkema S.A., China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), Formosa Plastics Corporation, INEOS Group Ltd., KEM ONE, LG Chem Ltd., Mitsubishi Chemical Corporation, Occidental Petroleum Corporation, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Shin-Etsu Chemical Co. Ltd., Westlake Chemical Corporation and Xinjiang Zhongtai Chemical Co. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Product Type
  • Application
  • End Use Industry
  • Region
Product Types Covered Rigid PVC, Flexible PVC, Others
Applications Covered Pipes and Fittings, Film and Sheets, Wire and Cables, Bottles, Profiles, Hoses and Tubings, Others
End Use Industries Covered Building and Construction, Automotive, Electrical and Electronics, Packaging, Footwear, Healthcare, Others
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered  Arkema S.A., China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), Formosa Plastics Corporation, INEOS Group Ltd., KEM ONE, LG Chem Ltd., Mitsubishi Chemical Corporation, Occidental Petroleum Corporation, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Shin-Etsu Chemical Co. Ltd., Westlake Chemical Corporation, Xinjiang Zhongtai Chemical Co. Ltd., etc.
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Global Polyvinyl Chloride (PVC) Market to Reach US$ 63.7 Billion by 2032, Impelled by Rising Demand for Durable Packaging Solutions
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