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PVC Market worth USD 78.90 billion and CAGR 5.6% by 2021.Globally
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PVC (Polyvinyl Chloride) is one the most widely used plastics produced by polymerization of the monomer vinyl chloride. Light weight, good mechanical strength, abrasion resistance, and toughness are the various properties of PVC (Polyvinyl Chloride) have allowed to use it in different industries such as construction, packaging, automotive and electrical industries.
Global PVC market (Polyvinyl chloride) growth has been accelerated by significant growth in the building & construction segments in Asia Pacific and Latin America. In addition, huge growth in the automotive industry, emerging demand of plastic film & sheets, rising demand of polyvinyl chloride in the packaging industry are the factors which may favor PVC market (Polyvinyl Chloride) growth in coming years. However, prohibited use of PVC in the construction of green buildings is expected to have the adverse impact on PVC (Polyvinyl Chloride) market. Nonetheless, ongoing renewable PVC developments are likely to offer new growth prospects for the market in the near future.
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Pipes & fittings, wires and cables, film & sheets, bottles and others are the major application of PVC market. Pipes & fitting was leading application segment of global PVC market and expected to maintain its dominance throughout the forecast period. Based on the type, PVC market is categorized under rigid polyvinyl chloride and flexible polyvinyl chloride. In addition, the PVC market further segmented into various end users including automotive, electrical & electronics, construction, packaging, and others. Construction segment acquired the largest market share in 2015. Huge growth in the automotive sector is expected to drive the demand of PVC in the automotive segment.
Asia-Pacific was the largest market for PVC market in the world due to the rapidly growing building & construction industry. It accounted more than 52% of market share in 2015. Europe is the second largest market for PVC, followed by North America. The Middle East & Africa is expected to witness significant growth rate in the forecast period. The growth of this region is mainly driven by investments in infrastructure in GCC countries. Latin America is expected to show noticeable growth rate during the forecast period.
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The key players operative in the global PVC market includes Occidental Petroleum Corporation , Shin-Etsu Chemical Co. Ltd , Xinjiang Zhongtai Chemical Co. Ltd., Formosa Plastics Group, INEOS , Solvay S.A., Mexichem S.A.B., Kem One , Vinnolit GmbH & Co. KG and AXIALL Corporation amongst others.
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