The global Polyvinyl Chloride market reached a value of about USD 38.44 billion in 2021. The industry is projected to grow at a CAGR of around 6.5% in the forecast period of 2022-2027 to reach a value of about USD 56 billion by 2027.
The global Polyvinyl Chloride industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The rapid development in the infrastructure sector is driving the market's growth. In the industry report, the key demand indicator is the highest category spender by region—Asia.
PVC or polyvinyl chloride is a thermoplastic made of chlorine (produced from common salt) and carbon (derived from ethylene from hydro-carbon feedstocks, sugar crops, crude oil and natural gas). It is a natural resource that preserves plastic because, unlike many other polymers, it is less reliant on oil or natural gas. It is available in rigid and flexible versions. It is made of cotton or linen and is used to create a canvas. The Polyvinyl Chloride industry report comprises segments by applications (Pipes & Fittings, Film & Sheet, Profiles, Wire and Cable, Bottles and Flooring and coatings) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).
Asia holds the largest share in the industry as China is one of the leading regions in electronics production. Furthermore, the growing medical device market in the region also contributes to the market's growth. Also, the rise in the use of PVC in several countries, including India, and Indonesia, among others owing to the development of industries such as automotive, manufacturing etc., is furthering the industry's expansion.
The market is being driven by the extensive application of the product in the construction and healthcare industry. The product is used to manufacture many products like cables, bottles, fittings, hoses etc., propelling the industry's expansion. The product has a wide range of properties like durability against weathering and rotting, making it a popular choice in manufacturing pipes, windows, etc., furthering the market's growth. PVC flooring also provides various benefits such as aesthetic effects, easy installation, recyclability etc. Furthermore, it is also employed in roofing, thus resulting in increased demand.
However, the adverse effect on the environment in disposing of PVC is likely to act as a market restraint.
The global Polyvinyl Chloride industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Polyvinyl Chloride regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Salt and oil are two of the most important essential ingredients for PVC production. Chlorine is produced by electrolysis of saltwater, and it is mixed with ethylene (obtained from oil) to generate vinyl chloride monomer (VCM). VCM molecules are polymerized to yield PVC resin, combined with suitable additives to create a specific PVC compound. There are five steps in the manufacturing process; Salt and hydro-carbon resources extraction, ethylene and chlorine generation from these materials, Making vinyl chloride monomer (VCM) by combining chlorine and ethylene; Polymerizing VCM to generate poly-vinyl-chloride (PVC) and Combining PVC polymer with other materials to create a variety of compositions with a variety of physical qualities.
The growing use of the product in electric vehicles boosts the market's potential. With the increasing emphasis on minimizing harmful emissions and bettering fuel economy paired with the need to reduce the vehicle's weight, the demand for PVC is accelerating, bolstering the industry's growth.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The market is highly fragmented, with few major players that focus on enhancing the production of the material for a wide range of industries. The players are also keen on expanding their clientele, focusing on product differentiation.
1. Executive Summary
2. PVC Industry Snapshot
2.1. PVC Market Outlook
2.2. PVC Industry Analysis by Application
2.2.1. Pipes & Fittings
2.2.2. Film & Sheet
2.2.4. Wire and Cable
2.2.6. Flooring and coatings
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
2.3.5. Middle East & Africa
3. Impact of Recent Events
4. PVC Value Chain Analysis
5. PVC Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. PVC Cost Structure
9. PVC Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. PVC Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. Shin-Etsu Chemical Co.,Ltd.
14.2. Westlake Chemical Corporation
14.3. Formosa Plastics Corp.
14.4. Occidental Chemical Corp
14.5. Inovyn ChlorVinyls Limited
The global Polyvinyl Chloride market size was valued at USD 38.44 billion in 2021.
As per the application provided, the Pipes&Fittings segment is anticipated to lead the market between the period 2022 – and 2027.
The significant demand for the product in the manufacturing of various products is one of the essential drivers of the Polyvinyl Chloride market growth.
Shin-Etsu Chemical Co., Ltd., Westlake Chemical Corporation, Formosa Plastics Corp., Occidental Chemical Corp., and INOVYN are some of the leading companies in the market.
The Asia region of the Polyvinyl Chloride industry holds a significant share in the market.
The global Polyvinyl Chloride market attained a value of USD 38.44 billion in 2021, driven by the extensive application of the product in the construction and healthcare industry. The product is used to manufacture many products like cables, bottles, fittings, hoses etc., propelling the industry's expansion. Aided by the growing use of the product in electric vehicles, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 6.5%. The market is projected to reach USD 56 billion by 2027. Some of the leading players in the industry are Shin-Etsu Chemical Co., Ltd., Westlake Chemical Corporation, Formosa Plastics Corp., Occidental Chemical Corp., and INOVYN.
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