The global polyvinyl chloride (PVC) market size reached $68.96 billion in 2022. The market is expected to expand from $72.08 billion in 2023 to $95.88 billion in 2030, witnessing a CAGR of 4.2% during the study period.
Polyvinyl chloride is used in a wide range of applications including electrical and electronics, packaging, transportation, medical and construction. The expansion of the industry can be attributed to its versatile properties combined with multiple polymers.
Fortune Business Insights™ provides this information in its research report titled "Polyvinyl Chloride (PVC) Market, 2023-2030."
List of major players mentioned in the report:
Elcross (Spain)
Formosa Plastics Co., Ltd. (Taiwan)
Hanwha Group (Korea)
Ineos (UK)
KEM ONE (France)
Occidental Petroleum Corporation (USA)
Olbia (Mexico)
Shin-Etsu Chemical Co., Ltd. (Japan)
Vinova (Belgium)
Westlake Corporation (USA)
Split:
Rigid segment to hold major share given increasing deployment of water supply & irrigation products
Depending on product type, the polyvinyl chloride market is divided into flexible and rigid markets. The rigid PVC segment held a prominent market share in 2022. This can be attributed to the wide range of uses of the product in irrigation, drainage, and water supply due to its corrosion resistance and durability.
Pipes and fittings segment to lead the market due to increasing PVC usage due to durability
On the basis of application, the polyvinyl chloride market has been segmented into flooring, pipes and fittings, wire and cable, profiles, films and sheets, and others. The pipes and fittings segment is expected to dominate the global market during the study period owing to its sustainability and durability, which makes it a suitable choice for waterborne transportation.
Building and Construction segment holds major share due to wide range of product adoption
Based on end use, the polyvinyl chloride market is fragmented into packaging, building & construction, electrical & electronics, automotive, etc. The building & construction segment holds the largest share due to the wide range of product distribution in the construction sector, including roofing, cables, profiles, accessories, etc.
Geographically, the polyvinyl chloride (PVC) market has been analyzed across the regions of North America, Latin America, Asia Pacific, Europe, Middle East & Africa.
Reporting Scope:
The report provides an explanation of the key steps taken by the key players to strengthen their market share. It also provides insights into the key trends in the market. The report also provides an industry analysis based on various segments such as product type, application, end use, and region.
Drivers and paper making equipment:
Increased demand in the construction sector leads to a surge in market value
There is increasing application of the product across the construction industry in cables, pipes, roofing materials, etc. Polyvinyl chloride is the preferred material due to its insulating properties, ensuring reliability and safety of power distribution. These factors are expected to drive the growth of the polyvinyl chloride (PVC) market.
However, regulatory concerns about the potential release of harmful chlorinated by-products during production could hinder the industry's expansion.
Informaton Source： https://www.fortunebusinessinsights.com/polyvinyl-chloride-pvc-market-109398
Regional Insights:
Asia-Pacific region set to take lead as infrastructure development and construction demand surges
The Asia Pacific polyvinyl chloride (PVC) market share is expected to occupy a significant position in the global market. The region recorded an increase in demand for the product in the infrastructure development, construction, and manufacturing sectors.
The North American market size is expected to surge owing to the increase in construction activities in the region and the growing use of the product across various construction sectors.
Competitive Landscape:
Industry players focus investments on bio-based products to meet growing demand
Key industry participants are investing in developing products made from bio-based materials. These products are being released to meet the surging demand for eco-friendly products. KEM ONE and Ineos are some of the major players in the market.
Key industrial developments:
June 2023 – Orbia shared its intention to complete a Yaghi-Alkali and Vinyl plant in the US Gulf Coast region. The plant is scheduled to be completed by 2028.