The global polyvinyl chloride market size is estimated to reach USD 70156.2 million in 2024. The industry is further estimated to grow at a CAGR of 3.6% through the forecast period. The sector is projected to attain a value of USD 100115.7 million by 2034. As indicated in a new study by Future Market Insights (FMI), the market for polyvinyl chloride is largely influenced by increasing applications in automotive, packaging, and construction industries, to meet industrial, commercial, and household end-user needs.
“Premier companies in the PVC industry are undertaking R&D and expansion efforts to remain competitive in the polyvinyl chloride market by bolstering standards of innovation, quality, communication, regulatory compliance, and performance,” reveals the FMI report.
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Key Research Findings
- Pipes and fittings will remain a highly preferred end use category through the forecast period.
- The rigid form of PVC will remain a preferred variant through the forecast period driven by diverse applications including automotive and construction.
- Gains of the global polyvinyl chloride market will remain largely concentrated in the Asia Pacific.
- The United States Market will display a double digit CAGR through the end of the forecast period.
Key Market Growth Drivers
- Strong demand for PVC in the packaging, automotive, and construction industries plays a major role in the growth of market.
- High demand for PVC pipes and fittings driven by characteristics of durability and cost effectiveness contributes to the global footprint of producers.
- Extensive applications of PVC in industrial piping setups is a major area of application contributing to market growth.
- The development of alternatives for PVC products such as high-density polyethylene (HDPE) will drive adoption.
Key Market Growth Impediments
- The polyvinyl chloride market is facing increasing challenges owing to rising environmental concerns, associated with the toxic fumes associated with PVC production.
Competition Structure Analysis – Polyvinyl Chloride Market
The competition landscape of polyvinyl chloride market remains competitive and concentrated. Key producers are also pushing for innovation and sustainability solutions through R&D activities and capacity expansion projects.
Some of the key players in the polyvinyl chloride market include, but are not limited to
- The Chemical Company
- Formosa Plastics Corporation
- Premier Polyfilm Ltd.
- Chinyang Chemical Co. Ltd.
- Occidental Petroleum Corporation
- BASF SE
- Saudi Plastic Products Company Ltd.
- Arkema S.A.
- Ineos Chlorvinyls Ltd.
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Polyvinyl Chloride (PVC) Market Segmentation
The global polyvinyl chloride market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
By Type
- Rigid
- Flexible
By End Use
- Construction
- Electrical Cables
- Transportation
- Packaging
By Application
- Pipes & Fittings
- Films & Sheets
- Cables
- Pastes
- Profiles
By Region
- North America
- Latin America
- Europe
- MEA
- Asia Pacific
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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