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)
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 and 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.
Geographical Analysis of the Polyvinyl Chloride (PVC) Market
Geographically, the polyvinyl chloride (PVC) market has been analyzed across the regions of North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.
Reporting Scope
The report provides an explanation of the key steps taken by major players to strengthen their market share, as well as insights into key trends in the market. It also includes 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 polyvinyl chloride across the construction industry in cables, pipes, roofing materials, and more. Polyvinyl chloride is preferred due to its insulating properties, which ensure the 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 is expected to occupy a significant position in the global market. The region has experienced an increase in demand for PVC in infrastructure development, construction, and manufacturing sectors.
North American Market to Surge Due to Increased Construction Activities
The North American market is anticipated to grow due to increased construction activities and the growing use of PVC across various construction sectors.
Competitive Landscape
Industry Players Focus Investments on Bio-Based Products to Meet Growing Demand
Key industry participants are investing in the development of bio-based PVC products to address the rising demand for eco-friendly solutions. Major players in the market include KEM ONE and Ineos.
Key Industrial Developments
In June 2023, Orbia announced its intention to complete a Yaghi-Alkali and Vinyl plant in the US Gulf Coast region, with the plant scheduled for completion by 2028.