According to a report published by Grand View Research, Inc.; the global Polyvinyl Chloride (PVC) market is projected to reach at USD 79.11 billion by 2020. High demand from the construction industry in applications, such as pipes, floor & wall coverings, cables, fencing and landfill liners, is expected to propel the market growth during the forecast period. Increasing demand in electrical, electronics, and consumer applications is also likely to boost the product demand in the coming years. The PVC is utilized in a wide range of consumer products including toys, interior cladding, and ceiling tiles.
However, increasing use of polymers, such as Polymethyl Methacrylate (PMMA) and polyethylene in medical devices due to rising concerns about health hazards caused by medical-grade PVC may have a negative impact on the market. The global PVC market can be segmented on the basis of application and region. Based on application, the market can be split into construction, consumer goods, packaging, electrical and electronics, transportation, and others. In 2013, the construction segment was the major segment and accounted for 55.7% of the overall market volume.
Full Research Report On Polyvinyl Chloride (PVC) Market Analysis: www.grandviewresearch.com/industry-analysis/polyvinyl-chloride-pvc-market
The electrical and electronics segment is anticipated to register a healthy CAGR of 5.4% over the forecast period. Rapidly expanding electrical and electronics industry in Asia Pacific, especially in South Korea, Taiwan, China, Indonesia, India, and Philippines, is anticipated to increase the product demand during the forecast period. The packaging sector is expected to show a significant growth in the coming years. PVC is widely used in bottle sleeving and packaging of medical devices, apparatus, electronics and other consumer products.
India and China are considered as the major producers of packaging materials in the world. India is one of the key suppliers of packaging products to Middle East region. In addition, developing countries, such as South Africa, are expected to be the packaging hub, which is anticipated to provide growth opportunities for the manufacturers in these countries. Geographically, the market can be divided into North America, Europe, Asia Pacific, Middle East and Africa, and Central and South America. Asia Pacific was the leading market and captured 58.1% of the total volume in 2013.
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Growing construction sector in countries, such as India, China, and Indonesia, is the major growth-driving for the regional market. Several other factors, such as rising trade activities and high investment in manufacturing industry, are also contributing toward the market growth in Southeast Asian Countries. Moreover, growth in food production facilities in Vietnam and Indonesia are expected to boost the demand for PVC. This is anticipated to offer numerous growth opportunities to resin producers in the region.
India witnessed 8.5% GDP growth rate between 2004 and 2009. These five years were crucial for the country since a number of buildings, metro train, road, dam, and other projects were initiated in this period. Due to this, the demand for PVC was doubled in this period. Europe is expected to grow on account of escalating demand from Turkey and Russia. Growth in construction activities in these counties is expected to boost the product demand during the forecast period. Extensive usage in consumer products is also projected to contribute toward the regional development.
Middle East and Africa is anticipated to exhibit a rapid growth with an estimated CAGR of 5.9% during the forecast years. Increasing demand for PVC in end-use industries, such as electrical and electronics, automotive, and construction, in Saudi Arabia and South Africa is the key factor driving the regional market. Some of the leading companies in the Polyvinyl Chloride (PVC) market include Xinjiang Zhongtai Chemical Co. Ltd., Formosa Plastics Group, Georgia Gulf Corp., Westlake Chemical Corp, and Solvay SA.
Grand View Research has segmented the polyvinyl chloride (PVC) market on the basis of application and region:
Global Polyvinyl Chloride Application Outlook (Volume, Million Tons; Revenue, USD Million, 2012 – 2020)
Construction
Consumer Goods
Packaging
Electrical & Electronics
Transportation
Others
Global Polyvinyl Chloride Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2012 – 2020)
North America
Europe
Asia Pacific
Middle East & Africa
Central & South America
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