According to the latest report by IMARC Group, titled " Polyvinyl Chloride (PVC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global polyvinyl chloride (PVC) market reached a value of US$ 41.3 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 53.94 Billion by 2027, exhibiting a CAGR of 4.40% during 2022-2027.
- 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.
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