The global polyvinyl chloride (PVC) market size is estimated to reach USD 108.12 billion by 2026, growing at a CAGR of 7.2% during the forecast period, according to a new study published by Polaris Market Research. The report “Polyvinyl Chloride (PVC) Market Share, Size, Trends & Industry Analysis Report [By Grade (Rigid PVC, Flexible PVC, and Others); By Application (Pipes & Fittings, Films & Sheets, Wire & Cables, Bottles, and Others); By End-Use (Building & Construction, Automotive, Electrical & Electronics, Packaging, Footwear, Healthcare), By Regions] Segments & Forecast, 2019 – 2026” provides a comprehensive analysis of present market insights and future market trends.
Polyvinyl Chloride is a vinyl chain polymer and retains its position among top three polymers, coming as it does after polyethylene and polypropylene as the largest produced synthetic commodity chemical. The global PVC market is mainly driven by its high demand in some of the high profile industries that includes electrical and electronics, building and construction, automotive, and packaging.
Polyvinylchloride has an amorphous structure with polar chlorine atoms and possesses fire retardant properties and oil/chemical resistance. PVC is identified with further properties such as being light-weight, having good mechanical strength, abrasion resistance and toughness associated with it.
Polyvinyl chloride is presented in two grade types. The two grades belong to rigid and flexible and have diverse applications globally. The rigid polyvinyl application includes door and window frames, pipes, bottles and credit cards and other non-food packaging. Wires, cables, sheets, films, profile, pipes, fittings and sliding are applications that belong to flexible polyvinyl chloride.
An ever-increasing population in company with rising disposable incomes has led to proliferation of many end-user industries that raise the bar in consumption areas for polyvinyl chloride. A spurt in consumer electronics products unilaterally increases the demand for polyvinyl chloride in electronics industry. Light-weight and advanced automotive products have led to the steadfast growth of polyvinyl chloride.
Drivers to robust growth of polyvinyl chloride include jubilant building and construction sector, high demand for automotive components with a large market share in automobile industry and rising medical devices. Restraints for PVC Market include growing competition from steel and construction pipes and drawbacks in prohibition of PVC in construction of green building.
Technological in-roads are playing a decisive role in the thriving growth of PVC Industry. Modified PVC, PVC- M and PVC-O have come about because of technical prowess in PVC and are used across a wide application area. Controlling harmful emissions are yet another aspect of technical developments in PVC product. The reduction is equivalent to 99.45% reduction in lead additives and 90% in harmony with PVC Industry energy and Greenhouse Gas Emissions Charter.
Asia Pacific is the most prolific regional market for polyvinyl chloride and the regional demand rises from China, India, Vietnam and Indonesia and Thailand. China is the world’s largest importer of polyvinyl chloride and has a huge product base of polyvinyl chloride with massive investments thrown in.
U.S. and Europe are two exceedingly well-established markets for polyvinyl chloride. The United States is the largest exporter of PVC with offshore market presence coupled with economical shipping globally. Western Europe and U.S. are two global leaders with almost identical market size.
The key players in polyvinyl chloride include a spate of large multinationals and important regional players. The companies include China National Chemical Corporation, Formosa Plastics Corporation, Occidental Petroleum Corporation, Mexichem Sab de CV, Saudi Plastics Products Company Ltd., LG Chem, SABIC (Saudi Arabia Basic Industries Corporation) and Shin Etsu Chemical Co. Ltd.