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Polyvinyl Chloride Market

Polyvinyl Chloride Market: Information by Type (Rigid, Flexible), Application, End-User, and Region-Forecast till 2031

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Market Snapshot

market snapshot
Base Year:
2022
Study Period:
2021-2031
CAGR:
%
Fastest Growing Market:
Middle East and Africa
Largest Market:
Americas

Polyvinyl Chloride is a synthetic resin derived from the polymerization of vinyl chloride. It is a high strength thermoplastic material that is used in pipe, fittings, tubes, films, sheets, wires, cables, and bottles. Polyvinyl chloride, owing to its versatility, is broadly used in various industries such as construction, packaging, electrical, consumer goods, among others.

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Market Dynamics

PVC Features: Light-Weight, Excellent Mechanical Strenght

PVC has excellent abrasion resistance; it is light-weight and also has go od mechanical strength and toughness. PV is easy to cut, weld, and shape, making it a useful component in building and construction. PVC is produced using the process of polymerization of vinyl chloride monomer, which involves different methods such as emulsion, suspension, and mass polymerization.        

The raw material used to produce PVC is salt and oil; oil is obtained from hydrocarbon feedstock by cracking petroleum or natural gas. Nowadays, ethylene from sugar crops is also being used as a feedstock, thereby decreasing the dependence of Polyvinyl chloride on oil.

PVC is already a mature product in the market and there is still a huge demand for PVC for many applications, without any signs of decline. However, green initiatives from various government bodies are foreseen to replace Polyvinyl chloride.

Demand for PVC in 3D Printing to Fuel Market Growth

The 3D printing industry is the latest rage around the world. Consumers want their products designed, produced, and sourced quickly, which 3D printing can provide. Various materials such as ABS (Acrylonitrile butadiene styrene), PMA (polyamide), PET, and other polymers were in use; however, PVC in the form of 3D vinyl has entered into the 3D printing technology. UV resistance, low embodied energy content, solvent resistance, fire retardance, weatherproof qualities, and improved rigidity are some of the features that 3D vinyl can provide. Besides, this material also proves to be an efficient alternative, reducing the carbon footprint for 3D printed products. Companies such as the Chemson Group and AONIQ have come up with 3D vinyl filament and 3D printers compatible with PVC.

The Construction Industry’s Extensive PVC Application

As plastics such as PVC are becoming environmental friendliness, the use of PVC in the construction is the primary factor of PVC demand. The construction industry is one of the industries where the use of PVC in cladding, windows, wallcoverings, flooring, roofing, and fencing is extensive. The Building Research Establishment, the U.K, in its Green guide to specification, has credited A rating in domestic use and A+ rating for commercial use of PVC-U in framing materials.

PVC also has its uses in the medical sector, which is expected to grow amidst the COVID-19 outbreak. PVC is deployed in the manufacturing of life-dispensing medicine in the form of IV bags and medical tubes. Several medical equipments such as catheters, blood transfusion sets, inflatable splints, surgical gloves, mattresses, and bedding covers require PVC. Pandemics like the COVID-19 have generated an urgent requirement of medical equipment, which is likely to spur the PVC demand.

Asian Companies’ Acquisition Strategy to Help Grow the PVC Demand

Asian manufacturers have been dominating the global PVC market for long; companies such as Shin-Etsu Chemical and Formosa Plastics Group, both from Asia, have been at the forefront of PVC production. Many companies, such as Mitsubishi Chemical Corporation, are striving to expand their PVC business by acquisition strategy. In Jun 2018, the company announced the acquisition of Welset Plast Extrusions Pvt. Ltd, India, which held a leading market share in the medical field. The company also acquired a PVC compound manufacturing business in Indonesia in Jul 2018.

Regional Analysis

Polyvinyl Chloride Market Regional Analysis

Regional Growth Insights Request Sample Pages

The U.S. has been one of the largest exporters of PVC on account of the abundance of shale gas by which ethylene is obtained, which is a major requirement of Polyvinyl Chloride. Following the U.S., Germany, China, Taiwan, and France are the top PVC exporting countries. Other companies, such as Inovyn, a merger of the PVC business of Ineos and Solvin, which is a U.K.-based company, has shown massive strides in developing a bio-based PVC in Oct 2019. The company also announced that it had used a supply chain approved by the Roundtable on Sustainable Biomaterials (RSB). 

The world is slowly migrating toward electric vehicles as consumers are looking for environment-friendly alternatives and low carbon emission solutions. Electric vehicles are dramatically turning mainstream for component suppliers to earn profits. EV manufacturers are after decreasing the weight of the vehicle in order to scale up efficiency and mileage. Plastics, which include Polypropylene (PP), Polyurethane (PUR), Acrylonitrile Butadiene Styrene (ABS), Polyvinyl Chloride (PVC) among others, are playing a crucial role in EV production. PVC properties are making it a strong contender due to its ready availability, dense composition, better strength, and durability.

Other unique properties of PVC, such as fire retardant and flexibility, have made PVC advantageous in the manufacturing of charging cables of Electric vehicles.

Bio-Degradable PVC: The Latest Trend in the Cards

Partitalia s.r.l, in 2020, launched bio-degradable PVC RFID cards and smart cards. These cards are extensively used in banking cards for access control and other special cards for gifts and loyalty. Companies have found out biodegradable PVC, which has certain additives that accelerate its decomposition process. Demand for such cards is on the rise as companies are trying to project themselves as environment-friendly.

PVC Substitutes to Threaten the Market Growth Trend

Although PVC manufacturers are coming up with green and safe modifications to PVC, consumer sentiment over PVC usage has downgraded in recent times. Consumers are looking at sustainable solutions that have minimal impact on the environment right from its raw material source, manufacturing, to its supply chain. Substitutes such as clay, glass, ceramics, and linoleum, are extensively used in the construction industry. However, PVC strength, durability, and upcoming bio-based PVC have made the case for PVC stronger.

Many Associations are trying to implement frameworks that can increase the recycling of PVC and create a conducive environment facilitating market growth. The European Council of Vinyl Manufacturers reported 739, 525 tons of PVC waste recycled in 2018 under the VinylPlus framework, which exhibited a 15.6% rise in recycling as compared to 2017.

Key Players

  • Formosa Plastics Corporation
  • Chinyang Chemical Co. Ltd
  • BASF SE
  • Arkema S.A.
  • Ineos Chlorvinyls Ltd.
  • Saudi Plastic Products Company Ltd.
  • Occidental Petroleum Corporation
  • Mitsubishi Chemical Corporation
  • Premier Polyfilm Ltd.
  • The Chemical Company
  • Shintech Inc.
  • Axiall Corporation
  • KEM one
  • Solvay S.A.
  • Shin-Etsu Chemical Co. Ltd
  • Mexichem S.A.B.
  • LG Chem
  • ChemChina
  • Sinopec Group

Report Scope

Report Metric Details
Market Size USD in Billion By 2031
CAGR CAGR %
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023-2031
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Type (Rigid, Flexible), Application, End-User
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Formosa Plastics Corporation , Chinyang Chemical CoLtd , BASF SE , Arkema S.A, Ineos Chlorvinyls Ltd, Saudi Plastic Products Company Ltd, Occidental Petroleum Corporation , Mitsubishi Chemical Corporation , Premier Polyfilm Ltd, 0The Chemical Company , Shintech Inc, Axiall Corporation , KEM one , Solvay S.A, Shin-Etsu Chemical CoLtd , Mexichem S.A.B, LG Chem , ChemChina , Sinopec Group ,
Key Market Opportunities Growing Prevalence Of Bulk Chemicals Industry Helps To Grow Polyvinyl Chloride Market Share

Polyvinyl Chloride Market Segmentation

By Type

  • Rigid PVC
  • Flexible PVC

By Application

  • Pipe & Fittings
  • Profiles & Tubes
  • Film & Sheets
  • Wires & Cables
  • Bottles
  • Others

By End-User

  • Building and Construction
  • Consumer and Institutional
  • Packaging
  • Electrical and Electronic
  • Transportation
  • Others

Frequently Asked Questions (FAQs)

Formosa Plastics Corporation, Chinyang Chemical Co. Ltd, BASF SE, Arkema S.A.. Ineos Chlorvinyls Ltd., Shintech Inc., Axiall Corporation, KEM one, Solvay S.A., Mexichem S.A.B., LG Chem, ChemChina are the top players in Polyvinyl Chloride Market.
North America is expected to hold the highest market share in Polyvinyl Chloride Market.
PVC Segment is expected to be the leading segment in Polyvinyl Chloride Market during the forecast period.
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Report Metric Details
Market Size USD in Billion By 2031
CAGR CAGR %
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023-2031
Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Type (Rigid, Flexible), Application, End-User
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Formosa Plastics Corporation , Chinyang Chemical CoLtd , BASF SE , Arkema S.A, Ineos Chlorvinyls Ltd, Saudi Plastic Products Company Ltd, Occidental Petroleum Corporation , Mitsubishi Chemical Corporation , Premier Polyfilm Ltd, 0The Chemical Company , Shintech Inc, Axiall Corporation , KEM one , Solvay S.A, Shin-Etsu Chemical CoLtd , Mexichem S.A.B, LG Chem , ChemChina , Sinopec Group ,
Key Market Opportunities Growing Prevalence Of Bulk Chemicals Industry Helps To Grow Polyvinyl Chloride Market Share
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