Vinyl Chloride Market Demand, Forecast, Insights, Analysis Report 2024-2031

Market Overview

Vinyl chloride is an organochloride, often known as vinyl chloride monomer (VCM) or chloroethene. It is manufactured industrially for commercial purposes. Vinyl chloride is widely utilized in several sectors, including building, automotive, and electronics. PVC, the most widely used thermoplastic, is used in the manufacture of a wide range of items, including pipes and fittings, wires and cables, sheets, blow-molded bottles, windows, doors, roofs, and automobile components. The increasing use of this product in a variety of sectors is likely to propel the worldwide vinyl chloride market at a rapid CAGR during the forecast period.

Continuous development in manufacturing technology is one of the market's important trends, driven by rising global safety and environmental requirements.

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Market Dynamics and Trends

Growth in end-user sectors such as automotive, building and construction, health care, electronics, and others is a significant driver driving market development. It is utilized in a wide range of industries, including building and construction, health care, electronics, automotive, and others, in goods such as pipes and siding, blood bags and tubing, wire and cable insulation, windshield system components, and more. Because vinyl contributes significantly to the safety, cost-effectiveness, and excellent quality of current vehicles, it is also incredibly versatile. For example, the International Organization of Motor Vehicle Manufacturers (OICA) reports that worldwide vehicle output rose by almost 25% between 2000 and 2017. Thus, the rise of the vehicle sector is expected to fuel the worldwide vinyl chloride market.

Segmentation Analysis

The global vinyl chloride market is segmented based on application, and region.
The building and construction segment had a significant market share and is predicted to increase at a rapid CAGR during the forecast period. Vinyl chloride monomer is utilized in a variety of building and construction applications, including siding, roofing, water distribution, wire and cable insulation, and window frames. According to the Institution of Civil Engineers (ICE), worldwide construction is projected to increase by 85% by 2030. Thus, expansion in the building and construction sector is likely to boost global vinyl chloride market growth throughout the forecast period.

Regional Insights

By region, the global vinyl chloride market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

The Asia Pacific region accounted for a sizable market share in 2018 and is predicted to increase at a rapid CAGR during the forecast period. Because of rising economies and expanding end-use sectors such as automotive, construction, packaging, and others. China is the leading VCM producer due to technical advancements and low-cost raw material availability.

All of these factors are expected to have a beneficial impact on market growth in the future years. For example, the building Industry Council (CIC) predicts a 3.3% growth in Asia Pacific building production from 2017 to 2021.

Competitive Landscape

The major companies contributing to the vinyl chloride market growth include Feralco AB, Aditya Birla Chemicals, GEO Specialty Chemicals Inc, Pfaudler, Kemira Oyj, Henan Fengbai Industrial Co., Ltd, Xunyu Group, Airedale Chemical, Lvyuan Chem, Alumichem A/S.

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