The global polyvinyl chloride (PVC) market is expected to reach 53,941.42 kilo metric ton by 2023, recording an estimated CAGR of 3.38%, over the forecast period of 2018-2023. One of the major factors driving the growth of the market studied is the rising usage of PVC in the automotive industry. The rising demand from construction, and increasing applications in healthcare sector have also significantly contributed to the growth of the market studied.
Accelerating Usage in Electric Vehicles
PVC is one of the best-known insulators and has a wide array of applications. It is used as an insulator in batteries and wires, and it is also used to make external casing for these batteries to avoid any conduction. Electric vehicles typically use an array of batteries to store electricity that discharge power to the electric motors. Usually, hundreds to thousands of battery cells are stacked to form one big battery. To make lighter batteries for electric vehicles, manufacturers have performed significant research and evaluated a wide range of insulators. In the research process, microporous diaphragms of PVC were discovered to make batteries lighter, as well as safer, by avoiding shorting. Owing to such benefits of using PVC in the electric vehicles, the demand for PVC has been increasing from the automotive industry. Hence, this trend is likely to continue with the growing popularity of electric vehicles across the globe.
Pipe & Fitting – The Fastest Growing Application Segment
Among applications, pipe & fitting is the largest segment for the PVC market. Demand for plastics in small and medium diameter pipes is increasing at a significant rate, due to several unique advantages over other materials, such as moderate cost, ease of handling and installation, long service life, and corrosion resistance. Rebounding building construction expenditures are further expected to increase the demand for plastic pipes, which are used as a conduit for gas distribution, drain, waste, and vent pipe. Besides, new construction projects have been growing at a noticeable rate in Asia-Pacific & Middle East region, which is further likely to increase the demand for pipes & fittings. Hence, such factors are expected to further accelerate the demand for PVC for the production of pipes & fittings during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific dominates the PVC market, in terms of both production & consumption. In Asia-Pacific, China stands to be the largest market for PVC. China has planned many infrastructural development projects, such as the Belt and Road Initiative and infrastructural project, which includes development of airport, roads, highways, 30,000 km of high speed rail covering, and 60% of urbanization ratio with permanent residents. In addition, the Chinese government is providing substantial financial and non-financial incentives to boost electric cars production & sales in the country. Hence, such trends are expected to drive the demand for PVC in the country during the forecast period.
The major players include – Shin-Etsu Chemicals Limited, Westlake Chemical Corporation, Formosa Plastics Corporation, Ineos, ChemChina, etc., among others.
Polyvinyl Chloride (PVC) Market Report Summary
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Metrics |
Details |
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Industry |
Polyvinyl Chloride (PVC) Market |
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Study Period |
(2015 – 2023) |
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Regions Covered |
North America, South America, Asia-Pacific, Europe and Middle East & Africa |
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Companies Covered |
Westlake Chemical Corporation, Shin-Etsu Chemicals Limited, Ineos, Formosa Plastics Corporation, ChemChina, etc. etc., among others. |
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Report Coverage |
Report offers latest trends, growth prospects, industry competitiveness, major players, value chain, regional and country market analysis and forecast to 2023 |
Reasons to Purchase This Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The stabilizer type that is expected to dominate the market
- Region that is expected to witness the fastest growth during the forecast period
- Identify the latest developments, market share, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in Excel)
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1. Introduction
1.1 Scope of the Report
1.2 Study Assumptions
1.3 Study Deliverables
1.4 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1 Drivers
4.1.1 High Usage of Plastics to Reduce Vehicle Weight and Enhance Fuel Economy
4.1.2 Growing Demand from the Construction Industry
4.1.3 Increasing Applications in the Healthcare Industry
4.2 Restraints
4.2.1 Shortage in Supply of Feedstock
4.2.2 Hazardous Impact on Humans and Environment
4.3 Opportunities
4.3.1 Accelerating Usage in Electric Vehicles
4.3.2 Recycled PVC
5. Market Segmentation And Analysis (Market Size, Growth, And Forecast)
5.1 By End-user Industry
5.1.1 Building & Construction
5.1.2 Automotive
5.1.3 Electrical & Electronics
5.1.4 Packaging
5.1.5 Footwear
5.1.6 Healthcare
5.1.7 Others
5.2 By Application
5.2.1 Pipes and Fittings
5.2.2 Film and Sheets
5.2.3 Wire and Cables
5.2.4 Bottles
5.2.5 Profiles, Hoses, and Tubing
5.2.6 Others
5.3 By Product
5.3.1 Rigid PVC
5.3.1.1 Clear Rigid PVC
5.3.1.2 Non-clear Rigid PVC
5.3.2 Flexible PVC
5.3.2.1 Clear Flexible PVC
5.3.2.2 Non-clear Flexible PVC
5.3.3 Low-smoke PVC
5.3.4 Chlorinated PVC
5.4 By Stabilizer Type
5.4.1 Calcium-based Stabilizers (Ca-Zn Stabilizers)
5.4.2 Lead-based Stabilizers (Pb Stabilizers)
5.4.3 Tin & Organotin Based (Sn Stabilizers)
5.4.4 Barium Based & Others (Liquid Mixed Metals)
6. Regional Market Analysis
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 Italy
6.3.4 France
6.3.5 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Financials, Products & Services, And Recent Developments)
8.1 China National Chemical Corporation (ChemChina)
8.2 Formosa Plastics Corporation
8.3 INOVYN
8.4 Mexichem SAB de CV
8.5 Occidental Petroleum Corporation
8.6 Saudi Plastic Products Company Ltd (SAPPCO)
8.7 SABIC (Saudi Arabia Basic Industries Corporation)
8.8 Shin-Etsu Chemical Co. Ltd
8.9 Tianjin Bohai Chemical Industries Imp. & Exp. Corp.
8.10 Kem One SAS
8.11 LG Chem
8.12 Westlake Chemical Corporation
8.13 Xinjiang Zhongtai Chemical Co. Ltd
9. Disclaimer
