NEW YORK, May 23, 2024 /PRNewswire/ –The global polyvinyl chloride (pvc) market size is estimated to grow by USD 35.03 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.48% during the forecast period.
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Raw Material (Ethylene dichloride and Acetylene), Application (Pipes and fittings, Films and sheets, Wires and cables, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) |
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Region Covered |
APAC, North America, Europe, Middle East and Africa, and South America |
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Key companies profiled |
Arkema Group, BASF SE, Berkshire Hathaway Inc., Dow Chemical Co., Formosa Plastics Corp., Huntsman International LLC, KEM ONE, Lanxess AG, LG Chem Ltd., Mitsubishi Chemical Group Corp., Occidental Petroleum Corp., Orbia Advance Corp. SAB de CV, Reliance Industries Ltd., Saudi Basic Industries Corp., Shin Etsu Chemical Co. Ltd., Sika AG, Solvay SA, The Sanmar Group, Westlake Corp., and Xinjiang Zhongtai Chemical Co. Ltd. |
Key Market Trends Fueling Growth
The Polyvinyl Chloride (PVC) market encompasses various applications, including sheets, wires, cables, bottles, and footwear. In the production of PVC, raw materials like ethylene dichloride (EDC) and vinyl chloride monomers undergo polymerization processes, resulting in chlorine atoms that confer fire retarding properties. However, concerns over the toxic byproducts released during the combustion of halogen-containing materials have led to the exploration of halogen-free formulations.
These alternatives, such as phosphorus-based compounds and mineral fillers, enhance fire resistance without relying on halogens. The Asia-Pacific market is a significant contributor to the PVC industry’s volumes, with applications ranging from pipe & fittings to films & sheets and wire & cables. The economic viability of PVC is further bolstered by its durability, light weight, abrasion resistance, and toughness, making it a preferred choice in the electrical industry and various other sectors.
Market Challenges
- The global PVC market faces challenges due to the production, utilization, and disposal of this material releasing harmful pollutants like vinyl chloride, EDC, mercury, dioxins, and furans. These chemicals can lead to health issues such as cancer, birth defects, and chronic diseases. PVC contains toxic additives like phthalates, lead, cadmium, and organotin.
- Hydrogen chloride, released during PVC combustion, is highly toxic and corrosive, causing respiratory problems and skin burns. Its long-term environmental persistence exacerbates the hazard. This market caters to various applications, including sheets, wires, cables, bottles, and pipe & fittings, among others, in industries like economic viability in Asia-Pacific and footwear.
- Raw materials for PVC production involve ethylene dichloride (EDC), acetylene, and vinyl chloride monomers, which undergo polymerization processes like emulsion, suspension, and microsuspension.
- PVC offers desirable properties such as fire retarding, durability, abrasion resistance, light weight, and toughness, making it essential in the electrical industry and pipes, fittings, profiles, tubes, films, and wire & cables.
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Segment Overview
- Raw Material
- 1.1 Ethylene dichloride
- 1.2 Acetylene
- 2.1 Pipes and fittings
- 2.2 Films and sheets
- 2.3 Wires and cables
- 2.4 Others
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and Africa
- 3.5 South America
1.1 Ethylene dichloride- The Polyvinyl Chloride (PVC) market is segmented by raw materials, geography, and applications. Ethylene dichloride (EDC) is a significant raw material in the production of PVC, particularly in the manufacture of sheets, wires, cables, bottles, and other forms. In the polymerization process, EDC provides high purity levels, ensuring consistent quality and economic viability.
The Asia-Pacific market holds a substantial share in the PVC industry due to its vast applications. PVC is used extensively in pipe & fittings, profiles & tubes, films & sheets, wire & cables, and the footwear industry. The versatility of PVC is attributed to its ability to be formulated with various modifiers, such as chlorine atoms, fire retarding properties, durability, abrasion resistance, and light weight.
The PVC market’s raw materials include ethylene dichloride (EDC), acetylene, and vinyl chloride monomers. The polymerization process can be carried out through various methods, including emulsion, suspension, and microsuspension. PVC’s applications span across diverse industries, including plastics, construction, automotive, electrical, and medical.
EDC’s high reactivity and purity contribute to the production of vinyl chloride monomers, which are essential in the creation of PVC. The chlorine atoms in PVC provide excellent fire retarding properties, while its durability, modifiers, and light weight make it suitable for various applications. The electrical industry, in particular, benefits from PVC’s insulating properties and toughness.
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Research Analysis
The Polyvinyl Chloride (PVC) market encompasses a wide range of applications and industries, including pipes, fittings, profiles, tubes, films, sheets, wires, cables, bottles, and more. Chlorine atoms are the fundamental building blocks of PVC, which undergo polymerization processes to create this versatile material. PVC’s unique properties, such as abrasion resistance, light weight, and toughness, make it an ideal choice for various end-user industries. Its economic viability and durability have led to its extensive use in construction, automotive, packaging, electrical, and other sectors.
Modifiers are often added to PVC to enhance its performance and expand its applications. For instance, impact modifiers improve the material’s toughness, while stabilizers ensure its stability under different conditions. Raw materials, such as chlorine and vinyl acetate monomer (VAM), are essential inputs in the production of PVC. The market’s growth is driven by the increasing demand for PVC products due to their superior performance and cost-effectiveness compared to traditional materials.
Market Research Overview
The Polyvinyl Chloride (PVC) market refers to the global industry involved in the production, application, and trade of PVC and its derivatives. PVC is a versatile plastic material widely used in various sectors such as construction, automotive, packaging, electrical, and consumer goods due to its durability, flexibility, and resistance to water and chemicals.
The market growth is driven by factors like increasing demand for PVC in construction and infrastructure projects, rising automotive production, and growing consumer preferences for eco-friendly and sustainable packaging solutions. The market is segmented based on applications, regions, and technologies. The future outlook is promising with the continuous development of innovative PVC products and the increasing focus on energy efficiency and sustainability.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Raw Material
- Ethylene Dichloride
- Acetylene
- Application
- Pipes And Fittings
- Films And Sheets
- Wires And Cables
- Others
- Geography
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
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Website: www.technavio.com/
SOURCE Technavio
