| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| CAGR | 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Polyvinyl Chloride (PVC) Market Analysis
The Asia-Pacific Polyvinyl Chloride Market is expected to register a CAGR of greater than 4.5% during the forecast period.
- COVID-19 negatively impacted the market in 2020. However, the market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
- The accelerating usage of electric vehicles and growing demand from the construction industry is expected to fuel the market's growth. However, hazardous impacts on humans and the environment during PVC production, usage, and disposal are projected to hinder the market's growth.
- The rising PVC recycling processes shall create opportunities in the market. The demand for PVC pipes and fittings is driven by increasing demand from developing countries such as India, China, Indonesia, etc.
Asia-Pacific Polyvinyl Chloride (PVC) Market Trends
Growing Demand from the Construction Sector
- The construction sector in the Asia-Pacific region is the largest in the world. It is growing at a healthy rate, owing to the region's rising population and increasing middle-class incomes and urbanization.
- The Asia-Pacific region has been a thriving market for office spaces in recent years and one of the largest markets for the commercial construction sector. The demand for office spaces in India and China has been growing for many years.
- With the demand from technology, e-commerce, and banking-financial service companies, office space requirements are significantly rising, resulting in the construction of new offices in the region. For example, China is one of the leading countries with respect to the construction of shopping centers. China has almost 4,000 shopping centers, while 7,000 more are estimated to be open by 2025.
- China's growth is fueled mainly by rapid residential and commercial building expansion. China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030. Also, China's construction output peaked in 2021 at a value of about USD 4.27 trillion. As a result, these factors tend to increase the demand for PVC in the region. Furthermore, according to Statistics Korea, construction orders collected by local builders at home and overseas totaled USD 245.9 billion in 2021.
- Also, India is expanding its commercial sector. Several projects have been going on in the country. For instance, the CommerzIII Commercial Office Complex construction worth USD 900 million started in Q1 2022. The project involves the construction of a 43-story commercial office complex with a permissible floor area of 2,60,128 m2 in Goregaon, Mumbai. The project is expected to be completed in Q4 2027.
- Therefore, the aforementioned factors, the demand for PVC is expected to increase during the forecast period.
Understand The Key Trends Shaping This Market
Download PDF
China to Dominate the Market
- China is expected to witness significant growth with the increasing demand from construction, automotive, electronics, packaging, and other end-user industries.
- The increasing usage of PVC in the construction sector will provide a huge market for PVC. According to the National Bureau of Statistics (NBS) of China, the output value of the construction works in the country accounted for CNY 25.92 trillion (USD 4.01 trillion) in 2021, representing an increase of more than 11% compared to 2020, thereby enhancing the demand for the market studied.
- China is also a global leader in the electric car market, with a significant increase in the sales of new electric vehicles. A total of 3.3 million units of electric vehicles (EVs) were sold in China in 2021, registering an increase of 154% compared to 1.3 million units sold in 2020.
- Further, according to the China Association of Automobile Manufacturing (CAAM), the production of new electric vehicles (NEVs) in the country witnessed a year-on-year increase of 96.9% in December 2022. Thus, the expanding EV market is expected to increase the demand for PVC in the country.
- Hence, all the abovementioned factors are expected to drive the demand for PVC in the country during the forecast period.
Get Analysis on Important Geographic Markets
Download PDF
Asia-Pacific Polyvinyl Chloride (PVC) Industry Overview
The Asia-Pacific polyvinyl chloride (PVC) market is fragmented in nature. Some of the major players in the market include Formosa Plastics Corporation, Shin-Etsu Chemical Co. Ltd, LG Chem, Xinjiang Zhongtai Chemical Co. Ltd, and Sinochem Holdings Corporation Ltd., among others.
Asia-Pacific Polyvinyl Chloride (PVC) Market Leaders
-
Formosa Plastics Corporation
-
Shin-Etsu Chemical Co. Ltd
-
LG Chem
-
Xinjiang Zhongtai Chemical Co. Ltd
-
Sinochem Holdings Corporation Ltd.
- *Disclaimer: Major Players sorted in no particular order
Need More Details on Market Players and Competiters?
Download PDF
Asia-Pacific Polyvinyl Chloride (PVC) Market News
- January 2023: Shin-Etsu Chemical Co., Ltd. introduced new process technologies jointly developed with Dexerials Corporation for the production of micro light-emitting diode (LED) displays.
- January 2023: Citroen India established a strategic relationship with Jio-BP, a fuels and mobility joint venture between Reliance Industries Limited (RIL) and BP, to build EV infrastructure and services across its network. Jio-BP will install direct current (DC) fast chargers across Citroen's primary dealership network and workshops across India.
Asia-Pacific Polyvinyl Chloride (PVC) Industry Segmentation
Polyvinyl chloride (PVC) is a high-strength thermoplastic material widely used in various applications, such as pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses, and tubings.
The market is segmented by product type, application, end-user industry, and geography. By product type, the market is segmented into rigid PVC, flexible PVC, low-smoke PVC, and chlorinated PVC. By applications, the market is segmented into pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses and tubings, and other applications. By end-user industries, the market is segmented into building and construction, automotive, electrical and electronics, packaging, footwear, healthcare, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across the globe.
For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons)
| Product Type | Rigid PVC |
| Flexible PVC | |
| Low-smoke PVC | |
| Chlorinated PVC | |
| Application | Pipes and Fittings |
| Films and Sheets | |
| Wires and Cables | |
| Bottles | |
| Profiles, Hoses, and Tubings | |
| Other Applications | |
| End-User Industry | Building and Construction |
| Automotive | |
| Electrical and Electronics | |
| Packaging | |
| Footwear | |
| Healthcare | |
| Other End-User Industries | |
| Geography | China |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Need A Different Region or Segment?
Customize Now
Asia-Pacific Polyvinyl Chloride (PVC) Market Research FAQs
What is the current Asia-Pacific Polyvinyl Chloride (PVC) Market size?
The Asia-Pacific Polyvinyl Chloride (PVC) Market is projected to register a CAGR of greater than 4.5% during the forecast period (2025-2030)
Who are the key players in Asia-Pacific Polyvinyl Chloride (PVC) Market?
Formosa Plastics Corporation, Shin-Etsu Chemical Co. Ltd, LG Chem, Xinjiang Zhongtai Chemical Co. Ltd and Sinochem Holdings Corporation Ltd. are the major companies operating in the Asia-Pacific Polyvinyl Chloride (PVC) Market.
What years does this Asia-Pacific Polyvinyl Chloride (PVC) Market cover?
The report covers the Asia-Pacific Polyvinyl Chloride (PVC) Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Polyvinyl Chloride (PVC) Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
Asia-Pacific Polyvinyl Chloride (PVC) Industry Report
Statistics for the 2025 Asia-Pacific Polyvinyl Chloride (PVC) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Polyvinyl Chloride (PVC) analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
