- Increase in demand from construction industry is stimulating growth in the global Polyvinyl Chloride Market
- Rise in demand for rigid polyvinyl chloride in different application areas is driving the global market
- Asia Pacific emerged as the dominant leader in the global market in 2021 led by rapid growth witnessed in several end-use industries in both developed and developing countries such as China and India
WILMINGTON, Del, Dec. 6, 2022 /PRNewswire/ -- According to Transparency Market Research, the global Polyvinyl Chloride Market is projected to grow at a compound annual growth rate of 3.8% during the forecast timeline 2022 and 2031.
Demand for raw materials across different end-use industries that are cost-effective and long-lasting has increased significantly. Polyvinyl chloride, which is the most extensively used thermoplastic polymer, has emerged as a suitable product providing these advantages. It also has high impact strength and toughness, thereby making it ideal for use in various application areas. Polyvinyl chloride sheets have been used in commercial application areas such as lamination, signage, vinyl lettering, and screen printing.
Prominent players are collaborating with smaller players to expand their presence in the global market and improve their revenue. Leading players in the global market for polyvinyl chloride are also looking to expand their product portfolios in a bid to meet consumer requirements in different end-use industries
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Key Findings of Polyvinyl Chloride Market Study
- Rise in Polyvinyl Chloride Demand from Construction Sector Propelling Market Growth: The global market for polyvinyl chloride is classified into electrical cables, packaging, transportation, and construction, based on end-use industry. Construction end-use segment dominated in 2021 ascribed to rising polyvinyl chloride demand for construction purposes due to its lightweight nature, improved resistance to chemicals, reduced manufacturing costs, and ease of processing
- Increase in Demand for Rigid Polyvinyl Chloride Fueling Market Development: Based on type, the global Polyvinyl Chloride Market is divided into rigid, and flexible. Rigid polyvinyl chloride type segment accounted for key market share in 2021. Rise in product demand for manufacture valves, fittings, pipes, sheets, and machining shapes played a key role in the growth of the segment. Furthermore, benefits such as high strength-to-weight ratio has helped fuel the demand for rigid polyvinyl over other products and in turn, helped market development of polyvinyl chloride
Polyvinyl Chloride Market-Key Drivers
- Increase in demand for electronic cables in building infrastructure owing to rising investments in smart grids is one of the key factors driving the global Polyvinyl Chloride Market
- Continuous growth witnessed in the packaging industry is expected to boost industry growth for polyvinyl chloride during the forecast timeline
- Rapid urbanization, especially in developing economies, is also triggering the demand for polyvinyl chloride and stimulating the development of the Polyvinyl Chloride Market
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Polyvinyl Chloride Market-Regional Market Insights
- Globally, Asia Pacific emerged as the leader in the global Polyvinyl Chloride Market in 2021. Increase in construction activities, as well as rapid growth in numerous end-use industries such as packaging, and wires and cables in countries such as China and India is driving market growth in the region.
Polyvinyl Chloride Market-Key Players
The global market for polyvinyl chloride is witnessing intense competition because of the presence of large number of players. New players entering the market during the forecast timeline are likely to intensify the competition in the overall market.
Well-established players are investing in setting up polyvinyl chloride manufacturing units to produce improved products to meet customer demand from different end-use industries.
Few prominent players in the global Polyvinyl Chloride Market include
- China National Chemical Corporation,
- Avient Corporation,
- SABIC,
- Westlake Corporation,
- Formosa Plastics Corporation, and Solvay S.A.
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The global Polyvinyl Chloride Market is segmented as follows:
Type
- Rigid
- Flexible
- Others
End-use Industry
- Construction
- Electrical Cables
- Packaging
- Transportation
- Others (Footwear, Healthcare, Consumer Goods, Artificial Leather)
Application
- Pipes & Fittings
- Profiles
- Films & Sheets
- Cables
- Pastes
- Others (Flooring, Bottles, etc.)
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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