According to a new market report published by Stratistics MRC the Polyvinyl Chloride (PVC) market is expected to reach $85 billion by 2022 growing at a CAGR of 6.2% during the forecast period. Increasing construction and infrastructure spending in emerging markets are the factors driving the market growth. However, Prohibited use of PVC in the construction of green buildings and stiff competition from steel & concrete pipes are restraining the market. Renewable PVC developments creates ample of opportunities in the market growth.
Global Polyvinyl Chloride (PVC) market is segmented by Product into Bottles, Credit cards, Cling films and others. PVC cling film has been used for over 30 years in Europe and it has turned into one of the safest and most broadly used resources for packaging food. A huge amount of research has been carried out to establish whether there is any concern of migration of constituents of PVC Cling films into food with the plasticisers used. PVC cling films cannot be used in conventional ovens as the high temperatures cause the film to melt.
Global Polyvinyl Chloride (PVC) market is segmented by material into Window frames, Pipes, Cables, Flooring and Others. PVC pipes account for the largest majority of pipe materials used in buried municipal applications for drinking water distribution. Flexible PVC flooring is inexpensive and used in a variety of buildings covering the home, hospitals, offices, schools, etc. Polyvinyl chloride resin manufactured annually is used for producing pipes for municipal and industrial applications.
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Global Polyvinyl Chloride (PVC) market is segmented by End-User Industry into Construction, Packaging, Consumer Goods, Healthcare, Wire and Cable Coatings, Electrical & Electronics, Transportation, Furniture and Clothing and Others. Among the end-user segment, the construction industry was the major end user segment using polyvinyl chloride products accounting for around 70% of the global Polyvinyl Chloride consumption. PVC’s share of siding in the exterior walls of new single-family residential construction in the United States has exceeded 30%, consistently the largest share of any exterior cladding. Electrical & electronics market is likely to be the fastest growing application segment due to growing Chinese and Taiwanese electronics industry.
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific was the largest regional market for PVC and accounted for over 57% of the total market volume in 2013. Rising demand for PVC in the region can be attributed to increasing construction spending in China and India. Apart from being the leading electronics producer, China is also one of the largest electronics consumers. Growth of electronics industry in China along with South Korea and Taiwan is expected to fuel the market growth in Asia Pacific over the forecast period. Growing environmental concerns coupled with low rate of PVC degradation acts as major challenges for market participants.
The key players in the Polyvinyl Chloride (PVC) market include Arkema, Braskem S.A, Chemplast Sanmar Limited, Axiall Corporation, Shin-Etsu Chemical Co. Ltd., BASF, Solvay S.A, Formosa Plastics Group, Westlake Chemica Corp, Georgia Gulf Corp, Occidental Petroleum Corporation, Xinjiang Zhongtai Chemical Co. Ltd, Ineos Chlorvinyls Ltd, KEM one, and Mexichem S.A.B.
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