- Owing to increasing construction volumes, demand for PVC is growing, leading the polyvinyl chloride (PVC) market on a high growth trajectory over the forecast period
- The rigid segment under the type category, and the pipes and fittings segment under the application category are set to witness notable growth from 2019 to 2027
ALBANY, N.Y., Sept. 15, 2020 /PRNewswire/ -- Owing to a number of growth factors, global polyvinyl chloride (PVC) market is set to witness an increase in market worth from about USD 63 billion in 2018 to about USD 88 billion by the end of the period of 2019 to 2027. Compound annual growth rate (CAGR) of the market will be approximately 4%.
As per Transparency Market Research (TMR), "Growing population, rapid urbanization, and increasing construction volumes are all set contribute to the projected growth for the global polyvinyl chloride (PVC) market over the forecast period. Another notable factor here is growth of online trading and increase in disposable incomes."
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Key Findings of Global Polyvinyl Chloride (PVC) Market Study:
- The segment for pipes and fittings is anticipated to account for a sizeable share of the market, recording significant growth over the forecast period
- Profiles segment will account for a moderate share in terms of consumption over the forecast period
- In the end-use industry category, construction segment is set to lead both in terms of volume and value and the share of emerging economies is expected to be sizeable
- On the basis of type, the rigid segment is set to account for a major share of the global PVC market
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Key Drivers of Growth in Global Polyvinyl Chloride (PVC) Market Study:
TMR has enumerated a number of growth factors in its report. Some of the prominent ones, pushing the global polyvinyl chloride (PVC) market on an upward growth trajectory over the stated period, include the following:
- Rapid industrialization and urbanization is leading to growth in the global polyvinyl chloride market
- Construction volumes are anticipated to grow significantly over the forecast period, paving way for higher demand for PVC
- Increase in population is supporting growth in the market notably owing to creating demand for buildings
- By 2050, global population will increase from 7.7 billion to 9.7 billion – an addition of 2 billion more people on the planet
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Regional Analysis of Global Polyvinyl Chloride (PVC) Market:
- In 2018, Asia Pacific (APAC) region led the regional charts of global polyvinyl chloride (PVC) market
- Over the forecast period, the region is anticipated to remain a dominant market owing to notable increase in construction volumes, growing population, rising disposable income
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Competitive Landscape of Global Polyvinyl Chloride (PVC) Market:
Transparency Market Research has evaluated and detailed out information on the vendor landscape of the market. From financials and recent developments to product details and business strategies, the information is comprehensive.
Successful players, who are well-known, in the global polyvinyl chloride (PVC) market's fragmented vendor landscape are Shin-Etsu Chemical Co., Ltd., Formosa Plastics, Inovyn, ChemChina, Mexichem S.A.B. de C.V., Westlake Chemical Corporation, and Occidental Petroleum Corporation, among others.
Some of the top strategies that have been noted being deployed by players operating in the market in the recent past include expansion of production facility, planning and executing new projects, and so on.
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Global Polyvinyl Chloride Market: Research Scope
Polyvinyl Chloride Market by Type
- Others (including Chlorinated PVC [CPVC], Modified PVC [PVC-M], and Oriented PVC [PVC-O])
Polyvinyl Chloride Market by End-use industry
- Electrical Cables
- Others (including Footwear, Health Care, Consumer Goods, and Artificial Leather)
Polyvinyl Chloride Market by Application
- Pipes & Fittings
- Films & Sheets
- Others (including Flooring and Bottles)
Polyvinyl Chloride Market by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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Polyvinylidene Fluoride (PVDF) Membrane Market - The PVDF membrane market is driven by growth in end-user industries such as coatings, photovoltaic films, oil & gas, and electrical. Increase in research & development (R&D) activities is the key factor driving the market. Various associations, end-user manufacturers, and PVDF manufacturing companies aim to invest significantly in technology innovations in PVDF membrane to replace other metals and plastics. This provides new opportunities for the PVDF membrane market. However, factors such as increasing use of substitutes, rising environmental & health concerns, and unstable prices are expected to hamper market growth during the forecast period.
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