What are the Historical Developments and Current Growth Metrics of the Poly Vinyl Chloride Market?
The poly vinyl chloride market has seen considerable growth due to a variety of factors.
• In recent times, there has been a significant increase in the size of the poly-vinyl chloride market. It is projected to expand from $97.92 billion in 2024 to $106.63 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%.
Numerous factors are responsible for the growth during the historic period, including the construction sector, packaging, electrical and electronics, as well as automotive applications.
What is the Forecasted Market Size and CAGR for the Poly Vinyl Chloride Market?
The poly vinyl chloride market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for poly-vinyl chloride is projected to witness robust expansion in the forthcoming years. A growth rate of 8.3% would see it reaching $146.89 billion by 2029. This projected growth during the forecast period can be credited to factors such as sustainability movements, urbanization paired with infrastructural growth, renewable energy use, and advancement in healthcare devices. The key trends during this period encompass bio-based and recyclable PVC, non-phthalate formulations, digital printing techniques on PVC, and smart materials.
What Key Factors and Trends Are Driving The Growth Poly Vinyl Chloride Market?
The rise in the PVC market is largely driven by amplified demand from sectors such as construction, health care, and packaging. A mounting requirement for PVC, which is lightweight and robust, is predicted to fuel the market further. Its extensive use in the construction sector, ranging from pipes and windows to flooring and roofing, is particularly notable. Oxford Economics, a UK-based company offering global economic forecasting and econometric analysis, anticipates that the global construction output will escalate from $10.7 trillion in 2020 to $15.2 trillion by 2030, soaring at a rate of 42%. This projected increase is likely to have a positive effect on the PVC market. As the end-user industries of construction, health care, and packaging continue to expand, the demand for PVC subsequently grows, propelling the growth of the PVC market.
What Are The Market Segments In The Poly Vinyl Chloride Market?
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 And Fittings, Film And Sheets, Wire And Cables, Bottles, Profiles, Hoses And Tubing, Other Applications
2) By End User Industry: Building And Construction, Automotive, Electrical And Electronics, Packaging, Footwear, Healthcare, Other End Use Industries
Subsegments:
1) By Rigid PVC: Pipes And Fittings, Profiles And Window Profiles, Flooring, Electrical Cable Insulation
2) By Flexible PVC: Flooring And Wall Coverings, Medical And Pharmaceutical Packaging, Electrical Cables And Wires, Automotive Parts
3) By Low-Smoke PVC: Electrical And Electronics Cables, Automotive Wiring, Building And Construction Materials
4) By Chlorinated PVC: Pipes And Fittings, Coatings, Roofing Membranes, Flooring
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Which Emerging Market Trends Are Altering The Poly Vinyl Chloride Industry?
Companies that manufacture Poly-vinyl chloride (PVC) are adopting the novel molecular orientation technique to enhance the mechanical and physical attributes of the PVC they produce. The principle behind molecular orientation is to enhance the resistivity and flexibility of PVC to fatigue and impact. It functions by aligning the molecules, which are randomly dispersed in regular PVC, in a uniform direction under certain pressure, temperature, and speed conditions. This improved alignment enhances the ductility and strength of PVC pipes, leading to the production of new PVC-O pipes. For example, Molecor uses this method to manufacture its TOM PVC-O pipes, which are both resistant to low temperatures and have a high resistance to impacts and cracks.
Who Are the Key Players In The Poly Vinyl Chloride Market?
Major companies operating in the poly-vinyl chloride market include:
• 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.
What Are The Regional Insights Into The Poly Vinyl Chloride Market?
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.
