Polyvinyl Chloride Market to be Dominated by Construction Segment Through 2027
Increasing number of
construction projects to drive the demand for the polyvinyl chloride market in
the forecast period, 2023-2027.
According to TechSci Research report, “Polyvinyl Chloride Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, The Global Polyvinyl
Chloride Market is estimated to increase at an impressive rate in the forecast
period, 2023-2027. Packaging the product is the most necessary process
performed by the manufacturer to ensure convenience in transportation and
product safety. As the Polyvinyl Chloride product is used for different
purposes, it is also in demand in various sectors for packaging, container, and
decoration material. Thus, slight fluctuation related to price in markets can
impact the growth of the Polyvinyl Chloride market. For example, small steps
like sanctions, wars, and pandemics in China can disturb the supply and demand
chain worldwide, as China is the biggest producer of PVC material worldwide.
Due to the multipurpose uses of Polyvinyl Chloride is used in the manufacture
of window frames, drainage pipes, water service pipes, medical devices, blood
storage bags, cable & wire insulation, resilient flooring, roofing
membranes, stationary, automotive interiors & seat coverings, fashion &
footwear, and packaging the food industry. Thus, these trends are going to
impact the market in terms of value and volume.
According to a Statista
report in 2021, the market size of the construction sector in terms of revenue
is 6.4 trillion USD in 2020 and is expected to reach twice its size up to 14.4
trillion USD in 2030. Due to rapidly growing construction industries, the
demand for houses and proper infrastructure is increasing as many applications
used in buildings are manufactured from PVC. Thus, we can expect an increase in
demand for products that directly impacts the demand for Polyvinyl Chloride
across the industries. Therefore, it is likely that the need for Polyvinyl
Chloride is going to increase in the projected year.
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data Figures spread through 110 Pages and an in-depth TOC on "Polyvinyl Chloride Market"
The Global Polyvinyl Chloride Market is segmented based on product type,
stabilizer type, application, and end-user industry:
Based on application type,
the market is divided into rigid PVC, flexible PVC, low-smoke PVC, and
chlorinated PVC. Vinyl acetate monomer is expected to hold the largest market
share in the forecast period, 2023-2027. Among all its categories, it is used
in diverse ways as resins and polymers for coating, films, textiles, paints,
and adhesives, which helps VAM to target more niches. Thus, VAM holds the
largest market share.
Based on End User Industry
Type, the market is divided into electrical & electronics, Construction,
healthcare, automotive, packaging, and others. As per estimates, Construction
will experience the highest market share during the forecast period. As the
population grows, demand for more infrastructure and buildings is increasing to
fulfill their needs. Repair or maintenance of existing construction
establishments in the market as time moves forward. Hence, this segment is
dominated by Construction.
Based on application Type,
the market is divided into pipes & fittings, films & sheets, wires
& cables, bottles, and others. As per estimates, pipes & fittings will
experience the highest market share during the forecast period. As the
development of infrastructural activities is rising, demand for more pipes and
fitting is increasing to develop proper sewage and water supply system to build
the primary application of a house. It is durable, lighter, and flexible in
nature, making them better than metal and concrete pipes. Hence, this segment
is dominated by pipe and fitting.
Major operating companies
operating in global polyvinyl chloride market are:
- Vestolit GmbH & Co. KG
- Westlake Chemical Corporation
- Formosa Plastics Corporation
- INEOS Group AG
- Kaneka Corporation
- LG Chem Ltd.
- Avient Corporation
- Occidental Petroleum Corporation
- China National Chemical Corporation
- Saudi Basic Industries Corporation
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"The
Asia-pacific region dominates the market and is expected to maintain its
dominance in the coming years because it has the highest number of developing
economies and rising population need. Ongoing construction development
projects, growing innovation for better and multiple uses, and increasing
demand for existing product goods that require PVC for manufacturing directly
influence the PVC market's growth. Thus, this increasing trend is expected to
positively impact the Polyvinyl Chloride market's growth. Citing to Statista,
the market size of the construction sector in terms of revenue is 6.4 trillion
USD in 2020 and is supposed to reach twice its size up to 14.4 trillion USD in
2030. The growing trend in construction industries directly influences the
growth of the PVC market in the upcoming year.
The
Asia-Pacific region has one of the biggest suppliers & producers of
Polyvinyl Chloride in worldwide trade. This indicates and makes the polyvinyl
market more lucrative in revenue and share. Polyvinyl chloride is used to
manufacture window frames, drainage pipes, water service pipes, medical
devices, blood storage bags, cable & wire insulation, resilient flooring,
roofing membranes, stationary, automotive interiors & seat coverings,
fashion & footwear, and packaging. It has multiple uses in the different
sectors and propels the Global Polyvinyl Chloride Market growth till 2027.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Polyvinyl Chloride Market- Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (Rigid PVC,
Flexible PVC, Low Smoke PVC, Chlorinated PVC), By Stabilizer Type
(Calcium-based Stabilizers (Ca-Zn Stabilizers), Lead-based Stabilizers (Pb
Stabilizers), Tin and Organotin-based Stabilizers (Sn Stabilizers), Others), By
Application (Pipes & Fittings, Films & Sheets, Wires & Cables,
Bottles, Others), By End User Industry (Electrical & Electronics,
Healthcare, Automotive, Packaging, Others)has
evaluated the future growth potential of global polyvinyl chloride market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global polyvinyl chloride market.
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