20-Sep-2022 | Facts and Factors
According to Facts and Factors, the global polyvinyl chloride market size was worth around USD 60 billion in 2021 and is predicted to grow to over USD 90 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5% between 2022 and 2028.
Polyvinyl chloride has great automated features and rigidity, which enhance along with molecular encumbrance and constant reduction with increasing temperature. PVC decomposes at high temperatures since its heat strength is bad. However, it has improved insulation but owing to its high polarity, its electrical insulation property is less necessary to non-polymers. The polyvinyl chloride (PVC) demand in construction is expected to remain strong due to its resistance to chemical corrosion, cost-effectiveness, and durability. The rising use of unplasticized polyvinyl chloride as an alternative for painted wood in sills and window frames will boost global polyvinyl chloride market demand over the forecast period.
Browse the full “Polyvinyl Chloride Market Size, Share, Growth Analysis Report By Application (Pipes & Fittings, Profiles, Films & Sheets, Cables, Pastes, and Others), By Type (Rigid, Flexible, and Others), By End-use Industry (Construction, Electrical Cables, Packaging, Transportation, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/polyvinyl-chloride-market
The pandemic has given a hard time to many by hampering the development, production, manufacturing, and logistic units of the overall market. Owing to this pandemic situation, several restrictions were imposed in different countries by the government. It is a well-known fact that a rise in GDP is directly related to the polyvinyl chloride (PVC) demand. Many industries like construction, electrical, building, automotive, and electronics make use of PVC on a huge scale which is severely affected by this situation.
The global polyvinyl chloride market is segmented based on type, application, end-use industry, and region.
Based on type, the global market segments are rigid, flexible, and others. The rigid segment is likely to hold a significant market share. Rigid PVC is a stiff, strong, low-cost PVC that is easy to bond and fabricate using solvents or adhesives. It is a common type of PVC used in the manufacturing of fittings, valves, pipes, sheets, ducts, and machining shapes. Rigid polyvinyl chloride offers benefits for piping owing to its high strength-to-weight ratio and low cost.
Based on application, the global market segments are pipes & fittings, profiles, films & sheets, cables, pastes, and others. Pipes & Fittings held the largest share of the revenue. It is likely to maintain its lead during the forecast period. The demand for PVC fittings and pipes is substantially high owing to their endurance and durability in rough conditions.
Based on end-use industry, the global market segments are construction, electrical cables, packaging, transportation, and others. Construction held the largest share of the revenue. This trend is likely to continue in the coming years as well. The construction segment is projected to expand at a steady pace. PVC is employed in diverse end-use sectors, due to its suitable chemical, physical, and mechanical characteristics. PVC is a common material utilized in the construction industry, due to its ease of processing, low production cost, and lightweight.
Asia Pacific is likely to dominate the global polyvinyl chloride market during the coming years. It is generating huge growth from Southeast Asian nations owing to growing trade activities, high investment in manufacturing, and a weak currency. Countries such as Vietnam and Indonesia have become a hub for food production in Southeast Asia and require the establishment of facilities for manufacturing. The facilities will consume a substantial amount of PVC items and hence creates a great opportunity for manufacturers of resin in the region. Moreover, Middle East & Africa is likely to be the fastest-growing market owing to rising demand for construction activities in nations such as UAE, Saudi Arabia, and Qatar. Economic growth in Africa has led to the growth of the consumer market, which in turn is likely to fuel the growth of the market. Rising disposable incomes in nations such as Mexico and Brazil are also likely to drive the growth of electrical & electronics and consumer industries, which in turn is estimated to augment the industry’s growth over the coming years.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 60 Billion |
Projected Market Size in 2028 |
USD 90 Billion |
CAGR Growth Rate |
5% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Braskem S.A., China General Plastics Corp, China National Chemical Corporation, Ercros SA, Finolex Industries Limited, Formosa Plastics Corporation, Hanwha Chemical Corp, INEOS Group AG, Kaneka Corporation, LG Chem, Mexichem S.A.B de C.V., Mitsubishi Chemical Corporation, and others. |
Key Segment |
By Application, Type, End-use Industry, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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The global polyvinyl chloride market is dominated by players like Braskem S.A., China General Plastics Corp, China National Chemical Corporation, Ercros SA, Finolex Industries Limited, Formosa Plastics Corporation, Hanwha Chemical Corp, INEOS Group AG, Kaneka Corporation, LG Chem, Mexichem S.A.B de C.V., Mitsubishi Chemical Corporation.
Recent Developments:
- In Jan 2021, Shintech announced a capital investment of USD 1.25 billion to bolster its integrated PVC business, Shin-Etsu Chemical Co. Ltd, which will further boost the production capacity of Shintech Inc., its US subsidiary. Shintech’s PVC production capacity is expected to reach 3.62 million metric tons per year.
- In Jan 2021, Orbia planned to sell its PVC Unit due to demand constraints. However, the final decision on the divestment is not officially revealed.
The global polyvinyl chloride market is segmented as follows:
By Application
- Pipes & Fittings
- Profiles
- Films & Sheets
- Cables
- Pastes
- Others
By Type
By End-use Industry
- Construction
- Electrical Cables
- Packaging
- Transportation
- Others
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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