Tokyo, Aug. 04, 2022 (GLOBE NEWSWIRE) — The world Polyvinyl Chloride (PVC) Market was valued at USD 85.53 billion in 2022. Polyvinyl chloride is the most widely formed polymer, after polypropylene and polyethylene. Polyvinyl chloride is amorphous with chlorine atoms and has flame retardant properties and oil/biochemical resistance. Polyvinyl chloride is the most widely used plastic and is formed by monomer polymerization of vinyl chloride. It is segmented into two flexible and rigid forms.
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Flexible polyvinyl chloride is used in electrical cable sheathing, plumbing, leatherette and signage. Rigid polyvinyl chloride is used in the industrial production of doors and windows, plastic bottles and pipes. Polyvinyl chloride is generally used in the construction, electrical, automotive and packaging industries, due to its many advantages such as light weight, decent self-strength, resistance to abrasion and durability associated with it.
Key ideas:
- The US polyvinyl chloride market was reached at USD 18.5 billion in 2021.
- The Chinese polyvinyl chloride market size is expected to reach USD 18.7 billion by 2030, growing at a CAGR of 7.9% from 2022 to 2030.
- The German polyvinyl chloride market is expected to grow at a CAGR of 3.5% from 2022 to 2030.
- The Latin America region is expected to reach a CAGR of 7.6% over the next ten years.
Report Highlights
- Polyvinyl chloride is light, rotten, strong, weather resistant, versatile, chemical corrosion, abrasion resistant and relaxed in use, as PVC can be shaped, cut, welded and bonded with some elegance. These features make it perfect for many important windows, pipes, roofs and flooring.
- Polyvinyl chloride flooring has applications such as independent aesthetic properties, cleaning, durability, connection comfort and recyclability. polyvinyl chloride is also applicable in scheduling in building and construction industry. Polyvinyl chloride is used for its lesser conservation necessities and ongoing wildlife.
- Increasing organizational strengthening actions are key drivers in the Middle East, Asia-Pacific and North America.
- The United States takes on one of the world’s leading construction companies. However, apartment buildings deteriorated due to COVID-19, which affected the polyvinyl chloride market.
- China has the largest construction market in the world, about 20% of all construction funds. According to the National Bureau of Statistics of China, in 2020, China’s construction industry created additional value.
- All these features are likely to increase the PVC market by a reasonable amount over the forecast period.
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Report scope
| Report attributes | Details |
| Market size in 2021 | $80 billion |
| Revenue forecasts by 2030 | $105.8 billion |
| CAGR | 3.15% from 2022 to 2030 |
| The biggest market | Asia Pacific |
| Fastest growing region | North America |
| base year | 2021 |
| forecast year | 2022 to 2030 |
| Key players | 3M (USA), ADEKA CORPORATION (Japan), Afton Chemical (USA), Akzo Nobel NV (Netherlands), Arkema (France), Avient Corporation (USA), Braskem SA, Chemplast Sanmar Limited ( India), China National Chemical Corporation, Clariant (Switzerland), Dorf Ketal Chemicals (I) Pvt. ltd. (USA), Dow (USA), DuPont (USA), Eastman Chemical Company (USA), Westlake Chemical Corporation (USA), Others |
Regional overview:
Among all these counties, the Asia-Pacific section will control this market, and the motive is attributed to an increase in the manufacture of plastic products. The factors such as weak business situation, debt crisis and slow monetary recovery, the European country will see average progress throughout the forecast. Due to characteristics corresponding to rapid industrial development, increasing manufacturing segments and high funds for organizational growth, India and China are witnessing significant growth for polyvinyl chloride.
The financially cautious Latin America like Brazil and Mexico will see a lucrative development due to an increase in the growth of construction companies. The growth of polyvinyl chloride in several prominent building fabrications fascinates huge financing in this market. The Middle Eastern and African country will also see steady growth throughout the assessment period.
Market dynamics
What are the drivers of polyvinyl chloride market?
- The global construction market for all construction movements is a developing market. The global construction market is expected to grow rapidly over the forecast period with India and China being knowingly involved. China has reached out to the United States to convert a major construction market. The construction market in China is likely to expand rapidly in the coming months.
- PVCs are used to wrap things like appliance packaging, electronics and consumer goods packaging, medical devices, and bottle sleeving.
- The global polyvinyl chloride market is primarily driven by the development in the construction industry, owing to the widespread use of polyvinyl chloride in the industrial, household and commercial sectors.
- Polyvinyl chloride is mainly used in profiles and pipes and fittings in the construction industry. The main objective behind the development of the polyvinyl chloride segment market is a wide range of use in automotive and construction industry.
- Additionally, plasticized polyvinyl chloride is used in the preparation of window sills and frames and is becoming very well known these days and is the major feature responsible for the growth of the market.
Constraints
Covid-19 limitations have further affected the PVC market as various end-user companies that use polyvinyl chloride in their varying importance have stood still due to the danger of the public getting infected or ill with the Covid-19 virus .
Similarly, through the production of PVC, many dangerous gases are produced at the end of the process, detrimental to the well-being of human beings. Additionally, the ecological hazards produced by the use and disposal of polyvinyl chloride are expected to hamper the growth of the market. This is an additional feature that should limit the development of the PVC industry.
What are the oopportunities of polyvinyl chloride market?
- Ethylene and chlorine are mixed to form vinyl chloride monomer. Roughly chlorine-free vinyl like PEVA, PVB, EVA, and PVA is used as a direct alternative to polyvinyl chloride. Polyvinyl chloride is the main cause for the release of dioxin which is an extremely carcinogenic or carcinogenic biochemical formed by the production and elimination of polyvinyl chloride.
- Polyvinyl chloride is formed by polymerization of vinyl chloride. The move towards biodegradable polyvinyl chloride is expected to generate profitable opportunities for the polyvinyl chloride market.
Challenges
- The manufacturing price of polyvinyl chloride is strongly influenced by the loadings of raw materials such as ethylene, chlorine and acetylene. The instability of raw material values, particularly in Asia-Pacific, limits the PVC market.
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Recent Ddevelopments
- A Westlake Chemical company acknowledged the introduction of polyvinyl chloride GreenVin™, GreenVin™ is a low carbon substitute PVC, compared to its subordinate Vinnolit in Germany in November 2021. Auxiliary PVC further used the plastic in the medical, construction and automotive sectors. The installation of GreenVin™ PVC is in series with the preview of GreenVin™ acid soda with the creation which is expected to augment the Company’s hydrogen and vinyl chloride products in the coming years.
- Shintech recognized a leading enterprise to improve its combined PVC professional, Shin-Etsu Biological Co. Ltd in January 2021. Shintech’s PVC manufacturing volume is expected to impact millions of metric tons every year. The American subsidiary will also increase the production volume of Shintech Inc.
- Abu Dhabi’s Nationwide Oil Co. and the UAE’s AD Ports, or ADNOC, have plans to collaboratively harvest liquors around the world and logistics facilities positioned at the Ruwais manufacturing hub to aid petrochemical developments of TA’ZIZ allocated for start-up in November 2021. ADNOC Services & Logistics and AD Ports Gathering will design factories to help residents of the TA’ZIZ manufacturing materials area in Ruwais.
- Orbia deliberately swapped its PVC component due to call restrictions in January 2021. However, the end result of the divestment is not officially on display.
Market segmentation
By type
- Rigid PVC
- soft pvc
- low smoke PVC
- chlorinated PVC
By type of stabilizer
- Calcium Stabilizers (Ca-Zn Stabilizers)
- Lead Stabilizers (Pb Stabilizers)
- Based on tin and organotin (Sn stabilizers)
- Barium-based and other types of stabilizers (mixed liquid metals)
By end use
- Construction
- The electric cables
- Automotive
- Shoe
- Transportation
- Packaging
- Other
By app
- Pipes and fittings
- Films & Sheets
- Profiles & Tubes
- Wires and Cables
- Pasta
- bottles
- Others
By raw material
- Ethylene dichloride
- Acetylene
By geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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