Polyvinyl Chloride (PVC) Market 2012 Deep Analysis of Current Trends and Future Demand by Top Key Players By 2020



The global polyvinyl chloride (PVC) market is expected to reach USD 79.11 billion by 2020, according to a new study by Grand View Research, Inc. Increasing construction and infrastructure spending in emerging markets of Asia Pacific and Latin America is expected to remain a key driving factor for global PVC demand. In addition, growth of global automotive industry is also expected to have a positive influence on the market. Volatile raw material prices coupled with the stringent regulatory scenario, particularly in North America and Europe to limit or minimize PVC use for medical applications are expected to remain key challenges for market participants. In order to overcome such challenges, the industry has shifted its focus towards developing bio-based alternatives to PVC which is expected to provide future opportunities for market participants.
Construction emerged as the leading application segment and accounted for 55.7% of the total market volume in 2013. Increasing construction spending in BRICS nations on account of organization of global events such as FIFA World Cup and Summer Olympics in these nations is expected to drive the demand for PVC in construction industry. Electrical & electronics is expected to be the fastest growing application segment at an estimated CAGR of 5.4% from 2014 to 2020. Growth of Chinese and Taiwanese electronics industry is expected to spur growth for PVC in electrical & electronics industry.
North America accounted for 13.1% of total market share in terms of revenue in 2016. Economic recession in U.S. has slowed the growth of construction and automotive industries, which has led to decline in demand for PVC over the past few years. However, recovery of these industries is expected to drive the market at a significant growth rate. Construction segment accounted for 15% of the PVC market in North America in 2016. Recent economic slowdown has affected automotive and construction markets in the U.S. & Canada negatively which is expected to hinder the market growth. However, increasing application of PVC in consumer and electrical & electronic industries is expected to complement the market growth.
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The global polyvinyl chloride industry is highly competitive and fairly concentrated, with top companies accounting for maximum share. Key market participants include OxyChem, Ineos Group Ltd. and Formosa Plastic Group have integrated along the value chain to produce PVC products through in-house output of ethylene.Some companies such as Shin-Etsu primarily supply vinyl chloride monomers and polymers to other firms for formulation. Companies such as Solvay S.A. along with Formosa Plastic Group, Ineos Group Ltd. among others are involved in the production of compounds such as rigid, flexible, plasticized and unplasticized PVC.
Further key findings from the study suggest:
·         Global PVC demand was 38.50 million tons in 2013 and is expected to reach 53.81 million tons by 2020, growing at a CAGR of 5.0% from 2014 to 2020.
·         Asia Pacific emerged as the leading regional market for PVC and accounted for 58.1% of total market volume in 2013. Growth of construction industry, particularly in China, India and Indonesia is expected to drive PVC demand in the region.
·         Middle East & Africa is expected to be the fastest growing region for polyvinyl chloride market at an estimated CAGR of 5.9% from 2014 to 2020. Growth of major end-use industries such as construction, automotive and electrical & electronics in Saudi Arabia and South Africa is expected to drive the demand for PVC in this region.
·         Some of the major companies in operating in the global PVC market include Shin-Etsu Chemical Co. Ltd., Formosa Plastics Group, Axiall Corporation, Mexichem S.A.B., BASF, Georgia Gulf Corp., Arkema S.A., and Westlake Chemica Corp, Sinopec Group, Solvay S.A., KEM One and Xinjiang Zhongtai Chemical Co. Ltd.

North America accounted for 13.1% of total market share in terms of revenue in 2016. Economic recession in U.S. has slowed the growth of construction and automotive industries, which has led to decline in demand for PVC over the past few years. However, recovery of these industries is expected to drive the market at a significant growth rate. Construction segment accounted for 15% of the PVC market in North America in 2016. Recent economic slowdown has affected automotive and construction markets in the U.S. & Canada negatively which is expected to hinder the market growth. However, increasing application of PVC in consumer and electrical & electronic industries is expected to complement the market growth.
Market growth in Europe is mainly triggered by increasing penetration of PVC in application markets such as construction, electrical & electronics and consumer products. The market growth in the region can be attributed to increasing demand for PVC in Russia and Turkey. The demand is primarily driven by increasing construction activities in these countries. Prevalent use of PVC in electrical & electronics is further expected to fuel the market growth over the forecast period. Growing demand for consumer products in the region is also a factor contributing to the market growth.
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The construction is the largest application segment for polyvinyl chloride. Construction activities are likely to grow mainly in emerging countries of Asia Pacific, Latin America and Middle East on account of increasing demand for better infrastructure facilities due to rising GDP, increasing urbanization and rapid industrialization. The construction demand has reached a saturation point in North America and Europe; thus, growth rate is expected to be negligible.
Grand View Research has segmented the polyvinyl chloride (PVC) market on the basis of application:
Global Polyvinyl Chloride Application Outlook (Volume, Million Tons; Revenue, USD Million, 2012 - 2020)
·         Construction
·         Consumer Goods
·         Packaging
·         Electrical & Electronics
·         Transportation
·         Others

The demand for polyvinyl chloride in electrical & electronics is high and steady primarily in North America and Europe. Moreover, growing electrical & electronics industry in Asia Pacific, mostly in China, Taiwan, India, Indonesia, Philippines and South Korea are projected to boost demand over the forecast period.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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