Polyvinyl Chloride (PVC) Market in APAC to Grow by USD 9.63 Billion from 2024-2028, Driven by Rising Demand from Construction and AI-Redefined Market Landscape – Technavio

NEW YORK, Nov. 6, 2024 /PRNewswire/ — Report with market evolution powered by AI – The polyvinyl chloride (PVC) market in APAC size is estimated to grow by USD 9.63 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.6% during the forecast period. Increasing demand from construction industry is driving market growth, with a trend towards high corrosion resistance. However, recycling issue of polyvinyl chloride (PVC) poses a challenge.Key market players include BASF SE, China National Chemical Corp. Ltd., Covestro AG, DuPont de Nemours Inc., East Hope Group, Formosa Plastics Corp., Huntsman Corp., INEOS Group Holdings S.A., KEM ONE, LACC, LG Chem Ltd., Nan Ya Plastic Corp., Occidental Petroleum Corp., Recticel Group, Reliance Industries Ltd., Shin Etsu Chemical Co. Ltd., The Lubrizol Corp., The Sanmar Group, and Westlake Corp..

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Market Driver

The Polyvinyl Chloride (PVC) market in APAC is thriving due to the versatility of this synthetic plastic polymer. PVC, made from vinyl chloride monomer, is an amorphous solid with excellent chemical resistance and flame-retardant properties. It’s widely used in various industries such as building materials for pipes, fittings, conduits, and profiles; electrical wiring and cable sheathing; and in medical devices for sterilization and tubing. PVC’s durability and corrosion resistance make it ideal for pipes and fittings in construction, offshore trading, and sewage systems. In the automotive industry, it’s used for dashboards, seats, door panels, and EV battery casings. PVC is also eco-friendly with recycling processes for single-use medical products and bio-based feedstocks. PVC’s applications span from rigid and flexible forms, used in packaging, textiles, transportation, and consumer goods, to engineering applications like PVC roofing membranes and thermal insulation. Despite its benefits, challenges include recycling and the use of non-renewable fossil fuels as raw materials. Major PVC producers include Formosa Plastics and OxyVinyls, with production increasing due to growing demand. Prices remain stable, making PVC an economic polymer. 

PVC, or Polyvinyl Chloride, is a versatile material known for its robustness, lightweight, and resistance to weather, rot, chemicals, and abrasion. With over 60 years of usage in building and construction, PVC pipes offer energy savings during manufacturing and a long, trouble-free service life. Commonly applied in water, waste, and drainage pipeline systems, these pipes do not clog, scale, corrode, or pit. Their flat surfaces also reduce pumping energy requirements. PVC’s adaptability allows it to be easily cut, shaped, welded, and combined in various designs for applications such as pipelines, windows, flooring, and roofing. 

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 Market Challenges

• The Polyvinyl Chloride (PVC) market in APAC is significant due to the versatility of PVC as a synthetic plastic polymer. PVC, made from vinyl chloride monomer, is an amorphous solid with excellent chemical resistance and flame-retardant properties. In various industries, PVC is used extensively in electrical wiring, building materials like pipes, fittings, conduits, and profiles, and medical devices for sterilization. However, challenges persist. The production of PVC from non-renewable fossil fuels contributes to a high carbon footprint. The use of toxic substances in PVC production and recycling processes adds to the environmental concerns. Single-use medical products and infectious pathogens pose challenges in recycling. Despite these challenges, PVC’s durability, corrosion resistance, and versatility make it a popular choice for various applications. In construction, PVC is used for rigid and flexible applications like pipes and fittings, film and sheets, and profiles. In electrical and electronics, PVC is used for wire insulation and cable sheathing. In transportation, PVC is used in EVs for battery casings and interior parts. Sustainable PVC and eco-friendly products made from bio-based feedstocks and recycled materials are gaining popularity to reduce the carbon footprint. Companies like Formosa Plastics and OxyVinyls are leading the way in PVC production and innovation. The PVC market in APAC is expected to grow, driven by the demand for durable and versatile materials in construction, transportation, and consumer goods.
• The Polyvinyl Chloride (PVC) market in APAC faces challenges due to the unique properties of PVC. With a high chlorine content and the application of toxic chemicals during production, PVC must be separated from other polymers before mechanical recycling. The recyclate retains its original composition due to the lack of chemical reaction in this process. However, the presence of various additives in PVC goods, such as plasticizers in flexible PVC, complicates recycling efforts. Despite similar applications, the compositions of PVC items can vary significantly depending on the manufacturer. These factors make PVC recycling a complex process in the APAC region.

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Segment Overview 

This polyvinyl chloride (pvc) market in APAC report extensively covers market segmentation by

1. Application 

• 1.1 Pipes and fittings
• 1.2 Films and sheets
• 1.3 Wires and cables
• 1.4 Others

Geography 

1.1 Pipes and fittings- PVC resin is a key component in the production of pipes, accounting for over half of its total production. These pipes are primarily used in municipal and industrial applications, with diameters of 100 mm or more for water and sanitary sewer systems. PVC pipes can be joined using gasket-sealed junctions or solvent cement or heat-fusion methods, ensuring permanent, leak-free connections. With a lifespan of 50 to 70 years, PVC pipes have been a popular choice in building and construction for over six decades. Their energy efficiency during manufacturing, low distribution costs, and long service life make them ideal for water, waste, and drainage pipeline systems. The absence of build-up, scaling, corrosion, or pitting, along with smooth surfaces, further reduces energy needs and contributes to the growth of the PVC pipes and fittings market in APAC.

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Research Analysis

Polyvinyl Chloride (PVC), also known as vinyl, is a versatile synthetic plastic polymer made from vinyl chloride monomer. An amorphous solid, PVC offers excellent chemical resistance and flame-retardant properties, making it a popular choice in various industries. In the APAC region, PVC finds extensive applications in the construction sector, particularly in the production of pipes, fittings, and building materials. It is also widely used in engineering applications, transportation, electrical and electronics, healthcare, and everyday life. PVC’s durability and versatility make it suitable for rigid and flexible forms, catering to diverse needs. In the construction industry, PVC pipes and fittings are preferred for their resistance to corrosion and ease of installation. In the transportation sector, PVC is used in the manufacturing of automotive parts and insulation materials. In the electrical and electronics industry, PVC is used for insulation and cable covering. In healthcare, PVC is used for medical equipment and packaging. PVC’s demand in the APAC region is driven by its affordability, durability, and versatility. The market for PVC is expected to grow in the coming years due to increasing demand from the construction, transportation, and electrical and electronics industries. The prices of PVC are influenced by production costs, offshore trading, and market supply and demand dynamics.

Market Research Overview

Polyvinyl Chloride (PVC), also known as vinyl, is a synthetic plastic polymer made from the monomer vinyl chloride. An amorphous solid, PVC is widely used due to its chemical resistance, flame-retardant properties, and durability. PVC finds extensive applications in various industries, including building materials, pipes, fittings, conduits, and electrical wiring. PVC’s versatility extends to sectors like medical devices, where it is used for sterilization and as wire insulation and cable sheathing. In the automotive industry, PVC is used in making seats, door panels, dashboards, and electrical components in electric vehicles (EVs). Bio-based feedstocks and recycling processes are increasingly being used to produce sustainable PVC, reducing the reliance on non-renewable fossil fuels. However, challenges in recycling PVC and the use of toxic substances in its production remain concerns. PVC is used in construction for rigid and flexible applications, including pipes and fittings, profiles, and tubings. In the electrical and electronics sector, PVC is used for insulation, wire jackets, and cable sheathing. PVC is also used in footwear, healthcare, and PVC roofing membranes for thermal and sound insulation. PVC is a durable material with excellent resistance to water, heat, and electricity. It is used in packaging, textiles, transportation, and clear PVC film for various applications. PVC prices and production volumes are influenced by factors like offshore trading, thermoplastic polymer demand, and raw material costs.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Application
• Pipes And Fittings
• Films And Sheets
• Wires And Cables
• Others
• Geography

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.

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