Global Poly-Vinyl Chloride Market Growth Rate 2024, Forecast To 2033
18 Jan, 2024
The poly-vinyl chloride market has grown strongly, increasing from $89.94 billion in 2023 to $97.4 billion in 2024, featuring an 8.3% CAGR. Historical growth is attributed to the construction industry, packaging, electrical and electronics, and automotive applications. Expecting strong growth, the market is projected to reach $133.39 billion in 2028, reflecting an 8.2% CAGR. Forecasted drivers include sustainability initiatives, urbanization, infrastructure development, renewable energy, and advanced healthcare devices. Key trends involve recyclable and bio-based PVC, phthalate-free formulations, digital printing on PVC, and smart materials.
Global Poly-Vinyl Chloride Market Key Driver
The PVC market's growth is fueled by increased demand from construction, healthcare, and packaging industries. PVC's lightweight and robust properties make it vital in construction for pipes, windows, flooring, and roofing. Oxford Economics predicts a 42% growth in global construction output, reaching $15.2 trillion by 2030, positively impacting the PVC market. Demand from construction, healthcare, and packaging industries propels PVC market growth.
Get A Free Sample Of The Global Poly-Vinyl Chloride Market ReportGlobal Poly-Vinyl Chloride Market Segments
The poly-vinyl chloride market covered in this report is segmented –
1) By Product Type: Rigid PVC, Flexible PVC, Low-smoke PVC, Chlorinated PVC
3) By Application: Pipes & Fittings, Film & Sheets, Wire & Cables, Bottles, Profiles, Hoses & Tubing, Other Applications
2) By End User Industry: Building & Construction, Automotive, Electrical & Electronics, Packaging, Footwear, Healthcare, Other End Use Industries
By Geography: The regions covered in the poly-vinyl chloride market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the polyvinyl chloride market in 2023. North America was the second-largest region in the global polyvinyl chloride market. The regions covered in the poly-vinyl chloride market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Poly-Vinyl Chloride Industry Players
Westlake Chemical Corporation, Shin-Etsu Chemical Co. Ltd., Ineos Group Limited, Formosa Plastics Corporation, Occidental Chemical Corporation, China National Chemical Corporation, Orbia Advance Corporation SAB de CV, Axiall Corporation, BASF SE, Mitsubishi Chemical Corporation, DuPont de Nemours Inc., LG Chem Ltd., Oxy Vinyls LP, Inovyn ChlorVinyls Limited, KEM ONE, Vinnolit GmbH & Co. KG, Kaneka Corporation, Hanwha Solutions Corporation, Teknor Color Company, Aurora Plastics LLC, Teknor Apex Company, Sylvin Technologies Inc., Benvic Europe SAS, Mexichem Specialty Compounds, Inc., Roscom Inc.
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Poly-Vinyl Chloride Market Overview
Polyvinyl chloride is a white synthetic organic compound available in powder form or granules with a high density and high impact strength. PVC is commonly used in construction as insulation on electrical wires. It is also blow-molded into clear, transparent bottles.
Poly-Vinyl Chloride Global Market Report 2023 provides data on the global poly-vinyl chloride market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The poly-vinyl chloride market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.