Polyvinyl Chloride (PVC) Market Value To Reach $79.11 Billion By 2020 | Key Industry Players Axiall Corporation, Mexichem S.A.B., BASF
San Francisco, 11
December 2018 - 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.
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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.
Grand View Research has segmented the polyvinyl chloride
(PVC) market on the basis of application and region:
Global Polyvinyl Chloride Application Outlook (Volume,
Million Tons; Revenue, USD Million, 2012 - 2020)
- Construction
- Consumer Goods
- Packaging
- Electrical & Electronics
- Transportation
- Others
Global Polyvinyl Chloride Regional Outlook (Volume,
Million Tons; Revenue, USD Million, 2012 - 2020)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Central & South America
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This Research Report by Grand View Research:
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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