Polyvinyl Chloride Market (PVC market) by Product (Rigid PVC, Flexible PVC, Low Smoke PVC, Chlorinated PVC), By Application (Pipes & Fittings, Film & Sheets, Wire & Cables, Bottles, Profiles, Hoses, and Tubing, Other Applications) by End Use (Healthcare, Automotive, Electrical & Electronics, Packaging, Footwear, Building & Construction, Others)and by Region (North America, Europe, Asia Pacific, Latin America, MEA), - Global Forecasts 2016 to 2027

Date : Apr 2021

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Report ID : 74

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Category : Resins and Polymers

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Report Format:  PDF EXCEL PPT WORD

Polyvinyl Chloride Market Report Overview

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.

Polyvinyl Chloride Market

Polyvinyl Chloride Market: General Trends

  • The Polyvinyl Chloride (PVC ) resin price has witnessed a steady increase since June 2020. The prices have increased by around  20% since June 2020
  • The reason for the increasing trend of PVC prices was the limited availability of PVC resin from multiple PVC manufacturers in the first three quarters of 2020. This could also be attributed was caused by turnaround activity in Chlor-alkali  plants and hurricane damage
  • Other factors contributing to increasing in PVC prices were changing consumer behavior such as consumer’s preference towards online shopping and which witnessed an increasing trend during the pandemic thereby resulting in higher transportation costs
  • The gradual easing of Caustic Soda and Chlor Alkali demand is expected to stabilize. The prices of PVC resin are not expected to increase significantly as compared to earlier going forward
  • Globally, PVC is the third-largest commodity plastic. It finds numerous uses in a variety of end-user industries. For Instance, the construction industry the biggest consumer of PVC uses it in applications such as pipes, wiring, films, profiles, sheets, fastening elements, flooring, wallpaper, and coatings. Therefore, any significant changes in the construction industry could have a direct impact on global production and consumption of this material
  • The PVC market was impacted by the economic impact caused slowdown due to Covid-19. The demand for PVC declined in 2020 as compared to 2019 levels
  • However, the market demand of PVC is improving and sub-sectors in the construction industry like housing renovation are gradually recovering thereby driving the demand for products such as PVC flooring.

Polyvinyl Chloride Market: Pricing Trends

  • The report provides an in-depth pricing analysis of the Polyvinyl Chloride Market identifying reasons for fluctuations and analyzing region-wise price deviation. The report also gives short term price projections for different regions
  • The interruption of production by the world's largest Polyvinyl Chloride (PVC) raw material producers has caused supply problems and price increases on a global scale in the PVC market
  • PVC prices, which traded between $850 and $900 a tonne on the international market in January 2020, fell to $700 in the second quarter as the world economy was closed due to the pandemic
  • On account of supply shortages, the PVC prices began to rise from the second half of 2020 and have continued to maintain their upward trend
  • At the end of 2020, the price of PVC per tonne in international markets reached above $1000 per ton. Disruptions in the supply chain due to the pandemic resulted in higher international freight prices thereby driving the PVC prices upwards
  • Freight prices, which were previously costing roughly $40 a tonne increased to more than $200
  • The US market of PVC was also impacted by hurricanes in Louisiana which restricted the supply from August 2020 towards the end of 2020, on account of Formosa Plastics USA and Westlake Chemical declaring force majeures.
  • As a result of the subdued demand for PVC in the pandemic period, many PVC producers had made force Majeure announcements & maintenance shutdowns. Post gradual opening of economies with the easing of lockdown restrictions reduced PVC production further led to short term increase in prices
  • The global PVC supply scenario is expected to improve in the first quarter of this year. Freight costs are also expected to reduce to a reasonable level in the second half of the year 2021. This is expected to lead to gradual reduction in PVC prices.

Polyvinyl Chloride Market Pricing Analysis

The report provides an in-depth value chain analysis of the Polyvinyl Chloride Market identifying the cost drivers and demand drivers.

Value Chain of Polyvinyl Chloride Market

Covid-19 Analysis of Polyvinyl Chloride Market

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.

Application Segment Trends Impact
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:

  • Rigid PVC
  • Flexible PVC
  • Low Smoke PVC
  • Chlorinated PVC

By Application

  • Pipes & Fittings
  • Film & Sheets
  • Wire & Cables
  • Bottles
  • Profiles
  • Hoses and Tubing
  • Other Applications

By End-User

  • Healthcare
  • Automotive
  • Electrical & Electronics
  • Packaging
  • Footwear
  • Building & Construction
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Norway
    • Italy
    • Spain
    • Netherlands
    • Rest Of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • New Zealand
    • Rest Of Asia Pacific
  • South America
  • ROW

Company Profiles and Competitive Intelligence Covered in Polyvinyl Chloride Market Report are:

The key players operating in the market are:

  1. Shin-Etsu Chemical Co. Ltd.
  2. Formosa Plastics Group
  3. Occidental Petroleum Corporation
  4. Ineos Chlorvinyls Ltd
  5. Inovyn
  6. Solvay S.A.
  7. Axiall Corporation
  8. Mexichem S.A.B.
  9. KEM one
  10. Vinnolit Gmbh & Co. Kg
  11. ChemChina
  12. Inner Mongolia Junzheng Energy & Chemical Group
  13. LG Chem
  14. Orbia (Mexichem SAB de CV )
  15. SABIC
  16. Shaanxi Coal and Chemical Industry Group
  17.  Tianye Group
  18. Reliance Industries
  19. Georgia Gulf
  20. Westlake Chemical
  21. Supreme Industries
  22. AGC Chemicals
  23. Dhingra Polymers
  24. Aquarius Plastics
  25. Vynova
  26. PolyBlend UK Ltd
  27. Hanwha International LLC.
  28. Celanese Corporation
  29. JM Eagle
  30. Others

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

Drivers:

  • Increasing application in medical tubing
  • Growing demand in Plastic Film & Sheets

Restraints:

  • Availability of competing substitutes like steel, iron, and concrete pipes
  • Rising PVC prices

Opportunities:

  • Growing Electric Vehicle Market

Challenges:

  • Recycling issues

Recent News and Developments in the Polyvinyl Chloride Markets (PVC market) value chain:

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:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Technology landscape
  5. Regulatory scenario
  6. Patent trends
  7. Market trends
  8. Covid-19 impact analysis
  9. Raw material supply analysis
  10. Pricing trends
  11. Sustainability trends and environmental concerns
  12. Critical Success Factors
  13. Competitive Landscape
  14. Customer preferences

Author Credentials

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.

  1. INTRODUCTION
    1. Product Outline
    2. What is Polyvinyl Chloride (PVC)
    3. Different types of Polyvinyl Chloride
    4. Sector Snapshot: PVC
    5. Polyvinyl Chloride (PVC) comparison with other substitutes
    6. Polyvinyl Chloride (PVC) and its advantages
    7. Analysis of Polyvinyl Chloride (PVC) Ecosystem / Value Chain
    8. Supply Chain Analysis
    9. Covid -19 Impact
    10. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    11. Technology Overview
    12. Patent Analysis
  2. Technology and Regulatory Landscape for Polyvinyl Chloride (PVC)
    1. Regulations and Standards
  3. Raw Material Analysis
      1. Major sources of raw material for Polyvinyl Chloride (PVC) production
  4. Polyvinyl Chloride (PVC) Pricing Analysis
    1. Prices of Polyvinyl Chloride Chloride (PVC)
    2. Historic Prices
    3. Quarterly Price Forecast for a Year
    4. Analysis of Cost Drivers
  5. Polyvinyl Chloride (PVC) Market by Type of Product
    1. Rigid PVC
    2. Flexible PVC
    3. Low Smoke PVC
    4. Chlorinated PVC
  6. Polyvinyl Chloride (PVC) Market Application
    1. Pipes & Fittings
    2. Film & Sheets
    3. Wire & Cables
    4. Bottles
    5. Profiles
    6. Hoses and Tubing
    7. Other Applications
  7. Polyvinyl Chloride (PVC) Market by End User
    1. Healthcare
    2. Automotive
    3. Electrical & Electronics
    4. Packaging
    5. Footwear
    6. Building & Construction
    7. Others
  8. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Netherlands
      8. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  9. Key Strategic Insights
    1. New Raw Material Sources
    2. New Applications
    3. Emerging Technologies
    4. Opportunity mapping
    5. Critical Success Factors
    6. Environmental Impact and Sustainability issues
    7. Consumer Preferences
    8. Pricing Trends
    9. Analysis of Cost Drivers
  10. Key Market Trends / Recent Developments
  11. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
  12. KEY GLOBAL PLAYERS
    1. Shin-Etsu Chemical Co. Ltd.
    2. Formosa Plastics Group
    3. Occidental Petroleum Corporation
    4. Ineos Chlorvinyls Ltd
    5. Solvay S.A.
    6. Axiall Corporation
    7. Mexichem S.A.B.
    8. KEM one
    9. Vinnolit Gmbh & Co. Kg
    10. ChemChina
    11. Inner Mongolia Junzheng Energy & Chemical Group
    12. LG Chem
    13. Orbia (Mexichem SAB de CV )
    14. SABIC
    15. Shaanxi Coal and Chemical Industry Group
    16.  Tianye Group
    17. Reliance Industries
    18. Georgia Gulf
    19. Westlake Chemical
    20. Supreme Industries
    21. AGC Chemicals
    22. Dhingra Polymers
    23. Aquarius Plastics
    24. Vynova
    25. PolyBlend UK Ltd
    26. Hanwha International LLC.
    27. Celanese Corporation
    28. JM Eagle
    29. Others
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