The Polyvinyl Chloride market (PVC Market) is projected to grow at a CAGR of 3.9% to reach USD 61.1 billion by 2027 from 46.8 USD billion in 2020. Increasing consumption and demand from end-user industries such as construction have significantly contributed to the growth of this market. Growth of the construction industry in the residential and commercial sector, primarily in the Asia Pacific, in order to meet the demand for housing from rapidly growing population and has also led to demand for Polyvinyl Chloride (PVC) pipes and other products. Apart from the construction industry the Polyvinyl Chloride (PVC) also finds applications in the healthcare, automotive, footwear, packaging industries.
The report provides an in-depth value chain analysis of the Polyvinyl Chloride Market identifying the cost drivers and demand drivers.
Globally, all the major Polyvinyl Chloride (PVC) consuming end-user industries, like automotive, electrical and electronics, and building and construction, have been severely impacted by the COVID-19 pandemic. The level of impact varies from industry to industry. The prices of cost drivers such as vinyl chloride monomer (VCM) and Polyvinyl Chloride (PVC) increased post the impact of Covid-19 this also impacted the demand trends of Polyvinyl Chloride (PVC). The report analyses the impact of Covid-19 on the Polyvinyl Chloride Market in detail.
|PVC window segment||This segment is expected to witness a delayed demand although feedstock prices have improved. With gradual recovery of demand is expected to come from home renovations||Negative|
|PVC pipes||This segment is expected to witness a moderate impact on demand. With the gradual recovery of construction industry the demand from hospital segment and replacement demand from galvanized iron pipes is driving PVC pipes growth. The PVC pipes are gaining preference over CPVC and GI pipes as they are comparatively more cost effective.||Moderate|
|Medical Tubing||The usage of PVC in certain applications such as medical tubing is however expected to grow owing to the growing demand for drug delivery systems due to the rising incidence of COVID-19 cases globally||Positive|
|Soft Flooring||This segment is expected to witness a delayed demand and gradual recovery with increase in construction activity and decreased demand from home renovations||Negative|
|Cables||Polyvinyl Chloride (PVC) is a popular material choice among wire and cable manufacturers. It is used for diverse applications such as wire insulation. The market also witnessed a decreased demand owing to the slowdown in sectors such as construction. A growing number of material suppliers and cable manufacturers are also offering PVC alternatives such as thermoplastic urethane and thermoplastic elastomers. This is further likely to lead to the declining growth of this market segment||Negative|
The research report analyses the ecosystem of Polyvinyl Chloride (PVC) and categorizes the Polyvinyl Chloride Market (PVC market) to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.
By Product Type:
The key players operating in the market are:
In terms of product type, the rigid Polyvinyl Chloride market (PVC market) segment is estimated to be the largest segment during the forecast period
In terms of product type, the global Polyvinyl Chloride market (PVC market) can be segmented into (Rigid PVC, Flexible PVC, Low Smoke PVC, Chlorinated PVC. The rigid Polyvinyl Chloride segment of the Polyvinyl Chloride market (PVC market) is projected to be the largest market. The growing application of rigid Polyvinyl Chloride (PVC) in the construction industry has led to a growing market. Rigid PVCs do not contain any type of plasticizers they are often referred to as un-plasticized polyvinyl chloride (uPVC). Rigid Polyvinyl Chloride is used to make sheets and pipes for various applications, including construction, industrial, automotive, electronics, and healthcare applications.
By Application, the construction application is expected to be the largest segment
The construction application segment dominated the Polyvinyl Chloride market (PVC market) in terms of revenue in 2020. It is also the fastest-growing segment in terms of CAGR. Polyvinyl Chloride (PVC) is increasingly being used in construction applications on account of its unique properties. Polyvinyl Chloride (PVC) ) lightweight, durable, and strong and it is also highly resistant to weathering, rotting, chemical corrosion, and abrasion, versatile, and easy to use, as it can be cut, shaped, and joined in any style. Such characteristics make it an ideal option for many applications, such as pipes, windows, flooring, and roofing.
The Asia Pacific is expected to be the largest segment in the forecast period
Asia Pacific accounted for the largest share of the Polyvinyl Chloride market (PVC market). While North America is expected to be the second-largest market followed by Europe. The North America region is also projected to witness a higher product demand in the coming years on account of increasing consumption in end-user industries. The demand in the Asia Pacific region is primarily driven on account of demand from end-user industries such as construction, packaging, and automotive. The construction industry in the Asia Pacific region is growing on account of rising urbanization, rising disposable income, and government initiatives, and residential and commercial construction projects. Key Polyvinyl Chloride markets (PVC market) in Asia- Pacific include China, Japan, India, South Korea, Thailand, and Indonesia.
The report also provides an in-depth analysis of market dynamics such as drivers, restraints opportunities, and challenges
|Sr. No.||Date||News Category||Description|
|1||Apr-21||Sustainability and Recycling||Europe’s leading PVC producer Inovyn launched a website to market its Biovyn resin. The company’s Biovyn resin is considered to be the world’s first commercially available bio-attributed PVC. Biovyn resins are considered to be a game-changer for the PVC market. These resins offer an RSB-certified 100% substitution of fossil feedstock, thereby delivering a greenhouse gas saving of over 90% as compared to conventionally produced PVC|
|2||Feb-21||Force majeure announcements||On account of the impact of sub-zero temperatures across the production chain of polyvinyl chloride, OxyChem, which is the chemical division of Occidental Petroleum, has declared force majeure on all its PVC products|
|3||Nov-20||Sustainability and Recycling||The AZEK Company officially launched its AZEK FULL-CIRCLE PVC Recycling Program. The company is a leading manufacturer of low-maintenance and sustainable residential and commercial building products|
|4||Nov-20||Sustainability and Recycling||Vynova introduced the PVC resins which are considered the world’s first range of certified circular-attributed PVC resins. These innovative PVC resins are manufactured using circular ethylene which is generated from mixed plastic waste|
The unique insights provided by this report also includes the following:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.