The global Polyvinyl Chloride market size is expected to reach USD 92.5 billion by 2030 and exhibit a CAGR of 6.2% in the forecast period (2023−2030), according to Skyquest’s latest research report. The growing construction and infrastructure activities, increasing demand for PVC pipes and fittings in the plumbing sector, rising adoption of PVC in electrical applications, expanding automotive industry and demand for PVC-based components, a wide range of applications across various industries, increasing demand for PVC in packaging and consumer goods, fuel the Market’s growth.
Westford,USA, Feb. 09, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Polyvinyl Chloride market, increasing focus on sustainable and eco-friendly PVC products, growing demand for rigid PVC in the construction industry, rising adoption of PVC in the automotive sector, development of PVC formulations with enhanced flame retardant properties, expanding use of PVC in electrical insulation applications, growing popularity of PVC-based flooring and wall coverings, advancements in PVC recycling and waste management practices, increasing use of PVC in packaging for various industries, the emergence of bio-based and bio-compatible PVC materials, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Polyvinyl Chloride Market”
- Pages – 157
- Tables – 102
- Figures – 76
Polyvinyl chloride (PVC) is a versatile thermoplastic polymer made from vinyl chloride. It is the third-most widely produced synthetic plastic polymer in the world, after polyethylene and polypropylene. PVC is used in a wide variety of applications, including construction, packaging, electrical insulation, and medical devices. It is a strong, durable, and inexpensive material that is also resistant to chemicals and moisture.
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Prominent Players in Polyvinyl Chloride Market
- Formosa Plastics Corporation
- Shin-Etsu Chemical Co. Ltd.
- Westlake Chemical Corporation
- Xinjiang Zhongtai Chemical Co. Ltd.
- LG Chem Ltd.
- Saudi Plastic Products Company Ltd.
- Occidental Petroleum Corporation
- Tianye Group
- Kem One SaS
- Arkema S.A.
- Borealis AG
- Braskem S.A.
- Hanwha Solutions
- BASF SE
- Sumitomo Chemical Co. Ltd.
- Mitsubishi Corporation
- Chang Chun Petrochemical Co., Ltd.
Rigid PVC Demand to Grow Substantially in the Forecast Period
Rigid PVC dominated the global market owing to its wide range of applications. It also offers excellent mechanical properties, including high tensile strength and stiffness. This makes it suitable for applications that require structural integrity, such as pipes and fittings used in plumbing and construction.
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Construction is the Leading Application Segment
In terms of application, construction is the leading segment due to the demand for infrastructure development. In addition, PVC pipes and fittings are extensively used in plumbing systems for water supply, drainage, and sewage applications. PVC’s properties, such as corrosion resistance, durability, and ease of installation, make it a preferred choice for plumbing systems in construction projects.
Asia-Pacific is the leading Market Due to Infrastructure Development
Region-wise, Asia-Pacific is one of the largest growing markets with a huge emphasis on infrastructure development. The Asia Pacific region has a large population, with increasing urbanization and rising disposable incomes. This leads to higher demand for housing, infrastructure, and consumer goods, all of which require PVC-based products. The growing middle-class population in countries like China and India fuels the consumption of PVC products, bolstering the market dominance.
A recent report thoroughly analyzes the major players operating within the Polyvinyl Chloride market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Polyvinyl Chloride.
Key Developments in Polyvinyl Chloride Market
- Shintech announced a US$1.25 billion investment to strengthen its integrated PVC business, Shin-Etsu Chemical Co. Ltd., which will enhance the production capacity of Shintech Inc. Shintech’s PVC manufacture volume is expected to reach 3.62 million tons per year.
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Key Questions Answered in Polyvinyl Chloride Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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