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

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 market growth.