How big is the Polyvinyl Chloride market?
Polyvinyl Chloride is a synthetic resin derived from the polymerization of vinyl chloride. It is a high strength thermoplastic material that is used in pipe, fittings, tubes, films, sheets, wires, cables, and bottles. Polyvinyl chloride, owing to its versatility, is broadly used in various industries such as construction, packaging, electrical, consumer goods, among others.
PVC has excellent abrasion resistance; it is light-weight and also has good mechanical strength and toughness. PV is easy to cut, weld, and shape, making it a useful component in building and construction. PVC is produced using the process of polymerization of vinyl chloride monomer, which involves different methods such as emulsion, suspension, and mass polymerization.
The raw material used to produce PVC is salt and oil; oil is obtained from hydrocarbon feedstock by cracking petroleum or natural gas. Nowadays, ethylene from sugar crops is also being used as a feedstock, thereby decreasing the dependence of Polyvinyl chloride on oil. PVC is already a mature product in the market and there is still a huge demand for PVC for many applications, without any signs of decline. However, green initiatives from various government bodies are foreseen to replace Polyvinyl chloride.
The 3D printing industry is the latest rage around the world. Consumers want their products designed, produced, and sourced quickly, which 3D printing can provide. Various materials such as ABS (Acrylonitrile butadiene styrene), PMA (polyamide), PET, and other polymers were in use; however, PVC in the form of 3D vinyl has entered into the 3D printing technology. UV resistance, low embodied energy content, solvent resistance, fire retardance, weatherproof qualities, and improved rigidity are some of the features that 3D vinyl can provide. Besides, this material also proves to be an efficient alternative, reducing the carbon footprint for 3D printed products. Companies such as the Chemson Group and AONIQ have come up with 3D vinyl filament and 3D printers compatible with PVC.
Asian manufacturers have been dominating the global PVC market for long; companies such as Shin-Etsu Chemical and Formosa Plastics Group, both from Asia, have been at the forefront of PVC production. Many companies, such as Mitsubishi Chemical Corporation, are striving to expand their PVC business by acquisition strategy. PVC also has its uses in the medical sector, which is expected to grow amidst the COVID-19 outbreak. PVC is deployed in the manufacturing of life-dispensing medicine in the form of IV bags and medical tubes. Several medical equipments such as catheters, blood transfusion sets, inflatable splints, surgical gloves, mattresses, and bedding covers require PVC. Pandemics like the COVID-19 have generated an urgent requirement of medical equipment, which is likely to spur the PVC demand.
The U.S. has been one of the largest exporters of PVC on account of the abundance of shale gas by which ethylene is obtained, which is a major requirement of Polyvinyl Chloride. Following the U.S., Germany, China, Taiwan, and France are the top PVC exporting countries. Other companies, such as Inovyn, a merger of the PVC business of Ineos and Solvin, which is a U.K.-based company, has shown massive strides in developing a bio-based PVC in Oct 2019. The company also announced that it had used a supply chain approved by the Roundtable on Sustainable Biomaterials (RSB).
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The Major Prominent Players Covered in this Report:
Formosa Plastics Corporation
Chinyang Chemical Co. Ltd
Ineos Chlorvinyls Ltd.
Saudi Plastic Products Company Ltd.
Occidental Petroleum Corporation
Mitsubishi Chemical Corporation
Premier Polyfilm Ltd.
The Chemical Company
Shin-Etsu Chemical Co. Ltd
By Type, Rigid PVC, Flexible PVC, By Application, Pipe & Fittings, Profiles & Tubes, Film & Sheets, Wires & Cables, Bottles, Others, By End-User, Building and Construction, Consumer and Institutional, Packaging, Electrical and Electronic, Transportation, Others
Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Polyvinyl Chloride in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Polyvinyl Chloride market during the forecast period 2019-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Polyvinyl Chloride and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Polyvinyl Chloride. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.
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Key Questions Answered in The Report:
What will the Polyvinyl Chloride market growth rate?
What are the key factors driving the global Polyvinyl Chloride market?
Who are the key manufacturers in the Polyvinyl Chloride market space?
What are the market opportunities, market risk, and market overview of the Polyvinyl Chloride market?
What are sales, revenue, and price analysis of top manufacturers of the Polyvinyl Chloride market?
Who are the distributors, traders, and dealers of the Polyvinyl Chloride market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Polyvinyl Chloride Industry?
What are sales, revenue, and price analysis by regions of Polyvinyl Chloride industry?
What are the driving factors contributing to market growth during the short, medium, and long term?
Key Polyvinyl Chloride Market Trends:
- The report identifies, determines, and forecasts the Global Polyvinyl Chloride Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Polyvinyl Chloride Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Polyvinyl Chloride Market.
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