USD 96.46 billion
Polyvinyl Chloride Market Size, Share, Growth Analysis, By Application(Rigid PVC, flexible PVC, low-smoke PVC, chlorinated PVC.), By Product type(Pipes & Fittings, Films & Sheets, Profiles & Tubes, Wire & Cables), By End-user Industries(Building and Construction, Automotive, Electrical and Electronics, Packaging), By Raw Material(Edc, Acetylene), By Polymerization Process(Suspension Polymerization, Emulsion Polymerization, Micro suspension Polymerization, Mass Polymerization), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2255 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
102
|Figures:
76
Polyvinyl Chloride Market Insights
Global Polyvinyl Chloride Market size was valued at USD 94.2 Billion in 2022 and is poised to grow from USD 97.17 Billion in 2023 to USD 124.53 Billion by 2031, at a CAGR of 3.15% during the forecast period (2024-2031).
Polyvinyl Chloride, or PVC, is a type of polymer that is widely manufactured after polypropylene and polyethylene. It is one of the most commonly manufactured polymers. Polyvinyl chloride is preferred over traditional materials such as copper, iron, or wood in a variety of applications due to its operational productivity and profits. The purest form of polyvinyl chloride is a brittle solid that is white and only marginally soluble in tetrahydrofuran while being insoluble in alcohol.
Due to its low cost and water resistance compared to leather and rubber, demand for polyvinyl chloride in consumer applications such as furniture, clothing, footwear, and sportswear will present an enormous opportunity in the near future. Increasing disposable income in emerging economies such as Brazil, China, and India has been a major driver of demand in consumer applications as well as the electrical and electronics industries.
US Polyvinyl Chloride Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Rigid PVC
Fastest Growth
Rigid PVC
Growth Rate
3.15% CAGR
Global Polyvinyl chloride market ($ Bn)
Country Share for Asia Pacific Region (%)
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Polyvinyl Chloride Market Segmental Analysis
Global polyvinyl chloride market is segmented based on product type, application, end-use, and region. Based on application, the market is segmented into rigid PVC, flexible PVC, low-smoke PVC and chlorinated PVC. Based on product type, the market is segmented into pipes & fittings, films & sheets, profiles, wire & cables, bottles, hoses and tubing's, and other applications. Based on end use, the market is segmented into building and construction, automotive, electrical and electronics, packaging, footwear, healthcare, and other. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Polyvinyl Chloride Market Analysis by End Use
On the basis of end use, the market is segmented into building & construction, automotive, packaging, electrical and electronics, consumer goods, and other end users. The construction and building sector is expected to dominate the polyvinyl chloride market due to increased use of PVC in this sector. Across the globe, the increasing construction activities is the driving force for growth in the sector. Due to its low maintenance requirements and long-lasting nature that is more than 30 years, it is used in construction & building industry.
Polyvinyl Chloride Market Analysis by Product Type
The rigid segment holds a dominant market share and is expected to maintain its place during the forecast period. Rigid PVC is a low cost polyvinyl chloride that provides a good balance of stiffness, is impact resistant, and is UV stable. Adhesives or solvents can be used for bonding and fabricating this PVC. It is used in construction of pipes and profile applications like doors and windows and refrigerator. Rigid PVC has advantages in piping due to its low cost and high strength to weight ratio. Rigid polyvinyl chloride sector is expected to grow at a rapid pace during the forecast period.
Polyvinyl Chloride Market Analysis by Application
On the basis of application, the pipes and fitting segment held a major share of the global polyvinyl chloride market and is likely to maintain the dominance throughout the forecast period. The pipes and fitting segment is expected to grow at a high CAGR during the forecast period. Features such as durability and endurance in rough conditions lead to high demand of PVC in pipes and fittings segment. In comparison, the profiles segment held a moderate share based on consumption. Profiles segment is expected to grow at a substantial pace during the forecast period. PVC is a widely produced plastic, and is extensively used in profiles, because it is cheap, durable, and easy to assemble.
Global Polyvinyl chloride market Size by Product Type
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Polyvinyl Chloride Market Regional Insights
Asia-Pacific dominates the global polyvinyl chloride market owing to the rise in the manufacturing of plastic products, quick industrial development, rise in construction undertakings and flourishing electronic markets among other. China is ahead in electronic production in comparison to existing upstream producers like South Korea, Singapore and Taiwan. It has the largest electronic production base and there is growth of consumer electronic market. The increased use of medical devices in public hospital has made the medical device market in China one of the fastest growing sector. The Government of India is taking various measures to boost its local electronic manufacturing industry and exports. For example, in 2021, India’s electronic goods export was valued at USD 11.7 billion. The growing electronic market in the country is likely to increase the demand for PVC in the electronic industry during the estimated period. Indian healthcare industry is also booming and India’s public expenditure on healthcare stood at 1.2% of the total GDP. Such factors are boosting the polyvinyl chloride market in Asia-Pacific region.
The second largest market for polyvinyl chloride is the European region, which is growing at a constant pace due to rising demand for packaging influenced by economic growth and high disposable income. The demand in this region is quite fragmented and is expected to grow at a high CAGR during the forecast period.
The Middle East and Africa is expected to be among the fastest-growing region, owing to increased demand in construction activities in countries such as Qatar, the United Arab Emirates, and Saudi Arabia. Africa's economic growth has resulted in the expansion of the consumer industry, which is expected to fuel polyvinyl chloride market growth.
Global Polyvinyl chloride market Size By Geography
- Largest
- Fastest
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Polyvinyl Chloride Market Dynamics
Polyvinyl Chloride Market Driver
- The construction, auto, electrical, electronics, and packaging industries are all rapidly expanding, which has benefited the global polyvinyl chloride (PVC) market. Rigid polyvinyl chloride is used to make pipes, doors, and window frames. Urbanization and population growth have increased disposable incomes, building spending has increased, implying that basic chemical goods will always be in demand. During the forecast period, there will be an increase in the use of unplasticized PVC in place of wood in window frames and sills, which will increase demand for PVC in the building industry. PVC is also used for specific packaging tasks such as bottle sleeving, packaging of electronic devices and other consumer goods, and packaging of medical equipment.
Polyvinyl Chloride Market Restraint
- During the production of PVC some hazardous gases are produced which are detrimental to the human health. Also, the harm the environment due to the usage of PVC can also be responsible for hindering the polyvinyl chloride market growth.
- Fluctuations in the prices of raw material and machinery equipment is impeding the growth of the market. Furthermore availability of cheaper alternatives will further derail the market growth rate.
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Polyvinyl Chloride Market Competitive Landscape
polyvinyl chloride market is highly segmented among the five players. Providing better material for various end user industry is the main focus of the top five players. Major manufacturer of PVC are Westlake Chemical Corporation, Ineos, Shin-etsu chemical Ltd., Formosa plastics corps., and Xinjiang Zhongtai Chemical Ltd. To maintain a competitive edge, the major polyvinyl chloride industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market.
Top Players in the Polyvinyl Chloride Market
- Chemplast Sanmar Limited (India)
- Westlake Chemical Corporation (US)
- Mitsubishi Chemical Corporation (Japan)
- SABIC (Saudi Arabia)
- LG Chem (South Korea)
- 3M (U.S.)
- Dow (U.S.)
- DuPont (U.S.)
- LSB INDUSTRIES (US)
- Sika AG (Switzerland)
- Innospec (U.S.)
- ADEKA CORPORATION (Japan)
- Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.)
- Afton Chemical (U.S.)
- Clariant (Switzerland)
- LANXESS (Germany)
- Mayzo, Inc. (U.S.)
- Solvay (Belgium)
- Akzo Nobel N.V. (Netherlands)
- Arkema (France)
- Eastman Chemical Company (U.S.)
Polyvinyl Chloride Market Recent Developments
- In May 2024, European PVC Prices Varied along with Soft Demand Fundamentals in May.
- In April 2024, Berry Global Releases Paper Detailing an Alternative to PVC Cling Films.
- In December 2023, The PVC Market Turns Bearish in the US and Europe Regardless of the Output Cuts.
- In April 2023, A report from a coalition of U.S. environmental advocacy groups has warned of the health risks of PVC plastic and urged public officials against using the material in community drinking water pipes.
Polyvinyl Chloride Key Market Trends
- PVC is durable, lightweight, and resistant to weather, rot, chemical corrosion and abrasion, versatile and easy to use as it can be cut, shaped, welded and assembled to any shape. These characteristics make it ideal for many applications, such as piping, windows, floors and roofing.
- China has the world's largest construction market, accounting for 20% of total construction investment. According to China's National Bureau of Statistics, by 2020, China's construction industry will generate about 7.3 trillion yuan in added value.
- According to the US Census bureau the total value of residential housing in April 2021 was USD 217,300 million upto 21.8% from USD 178,362 million in 2019-20. This trend is estimated to continue during the forecast period.
Polyvinyl Chloride Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global polyvinyl chloride market analysis, rising technological advancements in manufacturing technology are driving further market value growth. The increasing number of technological advancements driven by the desire to reduce production costs and waste, combined with the growth in industrialization, has increased the use of roofing materials for sustaining the efficiency of machinery, ensuring a bright future for the market. The expansion and growth of all end user verticals aided the direct and indirect growth of this market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 94.2 Billion |
| Market size value in 2031 | USD 124.53 Billion |
| Growth Rate | 3.15% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Polyvinyl Chloride Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Polyvinyl Chloride Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Polyvinyl Chloride Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Polyvinyl Chloride Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Polyvinyl Chloride Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Polyvinyl Chloride Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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