Polyvinyl Chloride (PVC) Market Analysis, Demand To Reach USD 91.17 Billion By 2028
Global Polyvinyl Chloride (PVC) Market is forecast to reach USD 91.17 Billion by 2028, according to a new report by Reports and Data. Polyvinyl Chloride (PVC) can be defined as a versatile thermoplastic polymer. It is an economical option for heavy and expensive metals used in construction and building industry for producing window & door profiles, wire, and cable insulation, pipes (drinking and wastewater), and medical devices, among others. Some of its mentionable traits are excellent mechanical properties, which is abrasion-resistant, tough, lightweight, effective chemical resistance, flame retardance, durability and good insulation properties, and dielectric strength.
The presence of these traits have resulted in the extensive application in construction, electronics, packaging, and transportation sector, among others. Furthermore, continuous expansion of the automotive industry and rising demand for lightweight vehicles is also resulting in increasing demand for PVC in the automotive sector. The fact that PVC is widely available and easily recyclable also supports the growth of the market.
In regards to region, North America can be seen to occupy a considerable market share. The market share held by the region is resultant of the growing automotive sector, expansion of the healthcare sector, and growing packaging industry.
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Top Key Players:
BASF SE, Formosa Plastics Corporation, China National Chemical Corporation (ChemChina), Kem One SAS, INOVYN, Orbia, LG Chem, Occidental Petroleum Corporation, Xinjiang Zhongtai Chemical Co. Ltd, and SABIC.
Further key findings from the report suggest:
The Polyvinyl Chloride market held a market share of USD 90 Billion in the year 2018 that is forecasted to grow at a rate of 3.8% during the forecast period.
In context to Product Type, the rigid PVC segment generated a higher revenue of USD 32.19 Billion in 2018, with a CAGR 3.6% during the forecast period. Its traits like excellent physical properties, stiffness, ease of fabrication, along with low-cost results in its extensive use in the construction of tanks, piping systems that contribute to higher revenue generated by this segment.
In context to Resources, the bio-attributed PVC segment is projected to witness a faster growth rate of 5.3% during the forecast period, which is expected to occupy 35.0% of the market in 2027. The growth rate witnessed by the bio-attributed PVC resources segment is attributed to the formulation of stringent government regulations and legislations focusing on minimized use of non-renewable resources and the increasing emphasis on development of bio-attributed PVCs by the market players. The launch of the first-ever commercially available grade of bio-attributed PVC- BIOVYNTM by INOVYN is resulting in its growing popularity.
In context to Application, the Film & Sheets segment is projected to witness the fastest CAGR of 4.5% during the forecast period. The growth rate witnessed by this segment is resultant of growth in the e-commerce sector and food packaging industry that results in the rising demand for PVCs in Film & Sheets segment.
In regards to the region, Europe held 0% of the market in 2018, with a growth rate of 3.7% during the forecast period. Factors like continuous growth in the automotive industry, expanding construction, and logistics sector contributes to the market share occupied by this region.
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The study throws light on the Polyvinyl Chloride (PVC) market mainly focusing on the growth factors and even the restraining factors. The restraining factors are also provided with the best solutions which also prove to be a counteract to the drawback and help increase the market demand. Applications, types, technology and many other segmentations are studied to give a depth of knowledge for further market investment. Key driving forces for Polyvinyl Chloride (PVC) market is explained to help give an idea for a detailed analysis of this market.
The report also implements primary and secondary research techniques for gathering the most crucial pieces of professional information, and applies a number of industry-best techniques upon the data for projecting the future state of the global Polyvinyl Chloride (PVC) market. Based on current market development, the report includes an analysis of how activities such as mergers and shapes the market’s future.
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Film & Sheets
Pipes & Fittings
Wire & Cables
The regional analysis covers:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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