Polyvinyl Chloride (PVC) Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

The Market is Segmented by Product Type (Rigid PVC, Flexible PVC, Low-smoke PVC, and Chlorinated PVC), Stabilizer Type (Calcium-based Stabilizers, Lead-based Stabilizers, Tin and Organotin-based Stabilizers, and Barium-based and Other Stabilizers), Application (Pipes and Fittings, Films and Sheets, Wires and Cables, Bottles, Profiles, Hoses and Tubings, and Other Applications), End-user Industry (Building and Construction, Automotive, Electrical and Electronics, Packaging, Footwear, Healthcare, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Report Offers Market Size and Forecasts for Polyvinyl Chloride (PVC) in Volume (kilo metric ton) and Revenue (USD million) for the Above-mentioned Segments.

Market Snapshot

polyvinyl chloride market overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %
polyvinyl chloride market major players

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Market Overview

The polyvinyl chloride (PVC) market was valued at USD 45,069 million in 2020, and it is expected to register a CAGR of over 4% during the forecast period (2021-2026).

The COVID-19 outbreak resulted in an economic crisis across the world. Since the growth in the demand for PVC is directly linked to the rise in GDP, this situation poses many challenges for the PVC market. Globally, the major PVC-consuming industries, like automotive, electrical and electronics, and building and construction, were severely hit by the COVID-19 pandemic. In 2019, the global electronics industry remained stagnant, and the total output of PCBs declined. Moreover, disappointing results from the systems and chips output led to a slowdown in the production of mobile phones, consumer electronics, PCs, servers, etc. At the beginning of 2020, the 5G launch was expected to drive the whole electronics market forward, which was disrupted by the pandemic.

  • Over the medium term, the factors driving the growth of the market studied are PVC’s dominant position in the construction industry and the increasing applications in the healthcare industry.
  • Furthermore, other than the impact of the COVID-19 pandemic on the various end-user industries’ growth, the environmental and health hazards during the production, usage, and disposal of PVC are projected to hinder the growth of the market studied.
  • The accelerating usage of PVC in electric vehicles is projected to act as an opportunity for the market in the future.
  • PVC applications in building and construction dominated the overall end-user industry share in terms of both volume and value in 2020.
  • In 2020, Asia-Pacific dominated the global PVC market during the forecast period.

Scope of the Report

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. PVC-based pipes and fittings accounted for a major application share in volume and value, followed by profiles, hoses, and tubing. The market is segmented by product type, stabilizer type, application, end-user industry, and geography. The polyvinyl chloride (PVC) market is segmented by product type into rigid PVC, flexible PVC, low-smoke PVC, and chlorinated PVC. The polyvinyl chloride (PVC) market is segmented by stabilizer type, which contains calcium-based stabilizers, lead-based stabilizers, tin- and organotin-based stabilizers, and barium-based and other stabilizers. The market is further segmented by applications, including pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses and tubings, and other applications. The market is segmented by end-user industries, like 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 polyvinyl chloride market in 16 countries across major regions. For each segment, the market sizing and forecast are based on volume (kilo metric ton) and value (USD million).

Product Type
Rigid PVC
Clear Rigid PVC
Non-clear Rigid PVC
Flexible PVC
Clear Flexible PVC
Non-clear Flexible PVC
Low-smoke PVC
Chlorinated PVC
Stabilizer Type
Calcium-based Stabilizers (Ca-Zn Stabilizers)
Lead-based Stabilizers (Pb Stabilizers)
Tin and Organotin-based (Sn Stabilizers)
Barium-based and Other Stabilizer Types (Liquid Mixed Metals)
Pipes and Fittings
Film and Sheets
Wire and Cables
Profiles, Hoses, and Tubings
Other Applications
End-user Industry
Building and Construction
Electrical and Electronics
Other End-user Industries
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand from the Building and Construction Industry

  • PVC is strong, lightweight, durable to weathering, rotting, chemical corrosion, and abrasion, versatile, and easy to use, as it can be cut, shaped, welded, and joined in any style. Such characteristics make it an ideal option for many applications such as pipes, windows, flooring, and roofing.
  • PVC pipes have been used in building and construction for over 60 years. They offer valuable energy saving during production, low-cost distribution, and a safe and maintenance-free lifetime of service. These pipes are widely used for pipeline systems for water, waste, and drainage. They suffer no build-up, scaling, corrosion, or pitting, and they provide smooth surfaces reducing energy requirements for pumping.
  • PVC flooring has benefits such as durability, freedom of aesthetic effects, ease in installation, ease in cleaning, and recyclability. Thus, PVC flooring has been used over the years. Another area in the building and construction industry where PVC is used is roofing. It is used for its low-maintenance requirements and its long-lasting nature (more than 30 years).
  • The increasing infrastructure construction activities are the major driver in Asia-Pacific, the Middle East, and North America.
  • The United States has one of the world’s largest construction industries, and it recorded annual revenue of USD 1,306 billion in 2019. ​Although the residential construction is expected to reduce due to COVID-19 for the financial years 2020 and 2021, which will hit the PVC market, the growth is expected to pick up after 2021 and continue during the forecast period.​
  • All the aforementioned factors are expected to drive the global market during the forecast period.
polyvinyl chloride market trends

Asia-Pacific Region to Dominate the Market

  • China has the largest electronics production base, and it offers tough competition to the existing upstream producers, like South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, witnessed the highest growth in the consumer electronics segment of the market.
  • The medical device market in China is one of the fastest-growing market sectors. Private hospitals in the country are fewer, and the procurement of healthcare products is majorly driven by large public hospitals, which led to the increasing usage of medical devices in public hospitals. This factor drove the demand for polyvinyl chloride (PVC) in the sector.
  • In 2019, the health expenditure was ~USD 750 billion, accounting for ~5.3% of the country’s GDP. The medical device market in China has been witnessing strong growth with a growing number of hospitals and the increasing demand for medical assistance. According to the China Association for Medical Device Industry, the medical device market was valued at around ~USD 80 billion in 2019. About 70% of the growth was majorly fueled by hospital procurement.
  • China planned many infrastructural development projects, such as the Belt and Road Initiative and infrastructural project, which includes the development of airport (new Beijing airport), roads (30,000 km of highways, with bridges built or upgraded), 30,000 km of high-speed rail covering (which is expected to cover more than 80 cities), and 60% of urbanization ratio with permanent residents.
  • The Government of India is taking several measures to promote the domestic electronics manufacturing industry and exports from the country. For instance, the Modified Special Incentive Package Scheme (M-SIPS) provides a 20-25% subsidy for investments in capital expenditure for setting up an electronics manufacturing facility. So far, 212 projects have been approved, with proposed investments of INR 551.82 billion. This boom in electronic products in the country is instrumental in propelling the demand for polyvinyl chloride (PVC) in the electronic industry over the forecast period.
  • The aforementioned factors are expected to change the dynamics of the polyvinyl chloride (PVC) market in the region.
polyvinyl chloride market share

Competitive Landscape

The global polyvinyl chloride market is highly fragmented among the top five players. The top companies have been focusing on providing better materials for various end-user industries. Major manufacturers of PVCs are Formosa Plastics Corporation, Shin-Etsu Chemical Co. Ltd, Westlake Chemical Corporation, INEOS, and Orbia.

Recent Developments

  • In January 2021, Shintech announced a capital investment of USD 1.25 billion to bolster its integrated PVC business, Shin-Etsu Chemical Co. Ltd. It is going to further bolster the production capacity of Shintech Inc., its subsidiary in the United States. Moreover, Shintech’s production capacity is expected to reach 3.62 million metric tons of PVC per year.
  • In October 2020, AGR Resin of Xinjiang Zhongtai Chemical Fukang Energy Company successfully passed the National Standard Project Evaluation. AGR resin is a special anti-scour polyvinyl chloride resin developed for the disadvantage of low impact strength of universal polyvinyl chloride resin. It is a modified polyvinyl chloride resin.
  • In July 2020, KEM ONE entered a partnership with Polyloop to develop PVC recycling. This partnership will result in the combination of their skills and expertise to develop new PVC recycling solutions at the Balan site.
  • In February 2020, INEOS and UPM Biofuels announced a long-term agreement to supply a renewable raw material for new and innovative bio-attributed polymers produced at INEOS Köln, Germany. The world’s first commercially available bio-attributed PVC uses the residue from wood pulp manufacturing.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Dominant Position in the Construction Industry

      2. 4.1.2 Increasing Applications in the Healthcare Industry

    2. 4.2 Restraints

      1. 4.2.1 Impact of the COVID-19 Outbreak

      2. 4.2.2 Hazardous Impact on Humans and the Environment

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Product Type

      1. 5.1.1 Rigid PVC

        1. Clear Rigid PVC

        2. Non-clear Rigid PVC

      2. 5.1.2 Flexible PVC

        1. Clear Flexible PVC

        2. Non-clear Flexible PVC

      3. 5.1.3 Low-smoke PVC

      4. 5.1.4 Chlorinated PVC

    2. 5.2 Stabilizer Type

      1. 5.2.1 Calcium-based Stabilizers (Ca-Zn Stabilizers)

      2. 5.2.2 Lead-based Stabilizers (Pb Stabilizers)

      3. 5.2.3 Tin and Organotin-based (Sn Stabilizers)

      4. 5.2.4 Barium-based and Other Stabilizer Types (Liquid Mixed Metals)

    3. 5.3 Application

      1. 5.3.1 Pipes and Fittings

      2. 5.3.2 Film and Sheets

      3. 5.3.3 Wire and Cables

      4. 5.3.4 Bottles

      5. 5.3.5 Profiles, Hoses, and Tubings

      6. 5.3.6 Other Applications

    4. 5.4 End-user Industry

      1. 5.4.1 Building and Construction

      2. 5.4.2 Automotive

      3. 5.4.3 Electrical and Electronics

      4. 5.4.4 Packaging

      5. 5.4.5 Footwear

      6. 5.4.6 Healthcare

      7. 5.4.7 Other End-user Industries

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.5.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.5.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Spain

        6. Rest of Europe

      4. 5.5.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.5.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ChemChina

      2. 6.4.2 Formosa Plastics Corporation

      3. 6.4.3 Ineos

      4. 6.4.4 Inner Mongolia Junzheng Energy & Chemical Group

      5. 6.4.5 Kem One SAS

      6. 6.4.6 LG Chem

      7. 6.4.7 Orbia

      8. 6.4.8 Occidental Petroleum Corporation

      9. 6.4.9 SABIC

      10. 6.4.10 Shaanxi Coal and Chemical Industry Group

      11. 6.4.11 Shin-Etsu Chemical Co. Ltd

      12. 6.4.12 Tianye Group

      13. 6.4.13 Westlake Chemical Corporation

      14. 6.4.14 Xinjiang Zhongtai Chemical Co. Ltd

    5. *List Not Exhaustive

    1. 7.1 Accelerating Usage in Electric Vehicles

    2. 7.2 Recycled PVC

**Subject to Availability

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Frequently Asked Questions

The Polyvinyl Chloride (PVC) Market market is studied from 2016 - 2026.

The Polyvinyl Chloride (PVC) Market is growing at a CAGR of >4% over the next 5 years.

The Polyvinyl Chloride (PVC) Market is valued at 45069 Million USD in 2016.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Westlake Chemical Corporation, Formosa Plastics Corporation, Ineos, Orbia, Shin-etsu Chemicals Limited are the major companies operating in Polyvinyl Chloride (PVC) Market.

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