Polyvinyl Chloride (PVC) Market

Polyvinyl Chloride (PVC) Market Overview

Several soft and hard plastics comprise a synthetic polymer product known as polyvinyl chloride. After propylene and polythene, polyvinyl is the third most manufactured synthetic plastic. Many products, such as medical devices, window frames, pipes, and packaging, have PVC. Urbanization can be attributed to being the primary growth driver of the polyvinyl chloride market. As per the statistics from the report – Impact of Urban Form on Transport and Economic Outcomes, around 85% of the total New Zealand population lives in urban areas. The metropolitan population is used to efficient sewage and drainage systems. The pipe used in building efficient drainage and sewage systems comprises PVC. High population growth is one of the reasons for rapid urbanization. China National Bluster (Group) Co. Ltd, Arkema S.A, LG Chem Ltd, INEOS Group Ltd, Formosa Plastic Corporation and Saudi Basic Industries are some of the significant parties in the market for Polyvinyl Chloride (PVC) Market.

The global Polyvinyl Chloride (PVC) Market was valued at USD 45 billion in 2023. The market is expected to expand at a CAGR of 4% from 2024-2033, and is expected to cross value of USD 67 billion by the end of 2033.

Japan Polyvinyl Chloride (PVC) Market Overview

The Japan Polyvinyl Chloride (PVC) Market is flourishing due to the rapid emergence of the electronic industry. PVC is an insulator used on circuit boards and electrical cables. It is resistant to fire and is a good insulator. Further, PVC pipes secure electronic equipment from short circuits and overheating. The growth of the electronic industry in Japan is attributed to the presence of well-to-do families in the economy. Around 20% of 53 million Japanese households are considered "well-off". The sale of home electrical appliances like electric grills and air purifiers in the second quarter of 2020 was the second highest in a decade. The increased air conditioner application fuels the country's electronic industry growth. Shin-Etsu Chemical Co. Ltd, Hanwha Group, KEM ONE, Orbia, Occidental Petroleum Corporation and INEOS are some of the significant parties in the market for Polyvinyl Chloride (PVC) Market in Japan.

Polyvinyl Chloride (PVC) Market Drivers – Analyst’s Observation

According to the analysts, some key growth drivers for the Polyvinyl Chloride (PVC) Market are as follows:

Increased demand for supple and durable material: Polyvinyl chloride (PVC) is well known for its durability, a critical element in the consumer product sector. Exclusive PVC products like pipes and window frames wear and tear due to exposure to adverse weather conditions and other chemicals. The durable nature of PVC allows it to be used sustainably and minimizes the requirement of frequent displacements. The rising demand for flexible and durable materials fuels the demand for polyvinyl chloride. The increase in environmentally conscious consumers is the rising demand for long-lasting and flexible products. According to the U.S. Department of State data, air pollution is the most significant environmental health threat. Wildfires have become common due to climatic change. Artificial pollutants mainly cause shifts in weather conditions, and the need for sustainable products arises. The statistics from the American Lung Association State of the Air 2024 claim that despite years of efforts to curb air pollution, 11.7 Americans still inhale unhealthy air.

Increasing purchase of personal cars: The Polyvinyl Chloride (PVC) Market is growing immensely due to the rise in personal car purchases. The increase in people's per capita income is the main reason for upgrades in personal acquisitions, such as personal cars. As per the data from the Ministry of Statistics, India, the per capita national income of the country improved by 35.12% as of 2022-2023. People in countries with rising per capita income mostly own cars to travel comfortably. The increase in purchases positively impacts the PVC market. The car's seats, door panels, and dashboards are manufactured with the help of PVC.

Further, increased purchase of electric vehicles also pushes the market for PVC. Ministry of External Affairs data shows that around 311,000 battery vehicles were registered in the Financial Year 2022. In the year 2021, around 119,000 battery vehicles were registered. Such increasing demand for electric cars is another reason for the growth of the Polyvinyl Chloride market. PVC materials are used for the insulation of electric vehicles, leading to the complete development of the PVC sector.

Which Probable Factors Could Hamper the Polyvinyl Chloride (PVC) Market Trend?

As per our analysis, some of the challenges expected to limit the global market growth of Polyvinyl Chloride (PVC) Market are as follows:

Rising number of PVC related health hazards: Increasing health concerns with PVC application challenges the growth of the polyvinyl chloride market. An increase in environmental problems like global warming and carbon emissions hinders the development of the polyvinyl chloride market. The soil and water contamination due to polyvinyl chloride is a severe environmental risk. Such health risks associated with PVC use hinder the growth of the polyvinyl chloride market.

Availability of affordable alternatives: It is possible to replace PVC with safer materials in almost every field. Substitutes like glass, clay, and linoleum are generally affordable and more sustainable. In areas where it is impossible to substitute PVC with traditional materials, chlorine-free materials are a good option. Acrylonitrile butadiene styrene piping is similar to PVC except that it is black. Such affordable alternatives are necessary for the growth of the Polyvinyl Chloride market.

How is the Polyvinyl Chloride (PVC) MarketSegmented?

Our experts have segmented the Polyvinyl Chloride (PVC) Market according to the points mentioned below:

By Product Type:

o Rigid PVC

o Flexible PVC

o Others

By Application:

o Pipes & Fittings

o Films & Sheets

o Wire & Cables

o Bottles

o Profiles

o Hoses & Tubings

o Others

By End-Use Industry:

o Building & Construction

o Automotive

o Electrical & Electronics

o Packaging

o Footwear

o Healthcare

o Others

By Region:

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East & Africa

Timeline considered for all these studies will be:

2023 – Base Year

2024 – Estimated Year

2024-2033 – Forecast Period

What are the Probable Factors Influencing the Asia Pacific Having the Highest Market Share Polyvinyl Chloride (PVC) Market Forecast?

Asia Pacific is one of the major consumers of the Polyvinyl Chloride Market due to the rise in the government's focus on infrastructure development. PVC is the most commonly used plastic product for construction and building activities, and it includes cables, flooring, roofing, and pipes. It contributes to construction materials' safety, cost efficiency, and quality. In 2022, infrastructure investment by the Chinese government rose by 9.4%. In 2023, China's economy grew to 5.2%. To help the economy recover from the pandemic, the government debt issuance rose to aid spending. According to Invest India's data, the Indian government has allocated 3.3% of its gross national product for infrastructure development. The country has induced public-private collaborations to advance infrastructure domains like airports, highways, and logistics park construction throughout India. The given statistics indicate the reason for the dominance of the Asia Pacific region in the polyvinyl chloride market.

What are the Probable Factors Influencing the North America Polyvinyl Chloride (PVC) Market Forecast?

The market is anticipated to grow in North America due to the increased development of the healthcare sector in the region. PVC is most commonly used in medical tools and devices. The healthcare advancements in any region fuel the growth of the PVC market in that specific area. The healthcare market in the United States is one of the largest in the world. Its vast size and possible returns are appealing. Presently, the U.S. is providing capital to New Zealand. The capital access to New Zealand is accessible through accelerators and incubators. As per the data of U.S. INDO-Pacific Command, since the onset of the pandemic, the U.S. government has dedicated more than USD 1 billion to the United States Department of State and the U.S. Agency for International Development. Such investment of the United States government is for assisting in emergency health. This funding has been invested in safeguarding healthcare facilities. The data indicates the presence of advanced healthcare facilities in the North American region. Considering these elements, the Polyvinyl Chloride market is estimated to witness growth in the region.

Polyvinyl Chloride (PVC) Market Key Players

Some key players in the Polyvinyl Chloride (PVC) Market are as follows:

• INEOS Group Ltd
• China National Bluestar (Group) Co. Ltd
• LG Chem Ltd
• Arkema S.A
• Formosa Plastic Corporation
• Mitsubishi Chemical Corporation
• Saudi Basic Industries Corporation
• Occidental Petroleum Corporation
• Shin-Etsu Chemical Co. Ltd
• Xinjiang Zhongtai Chemicals Ltd

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Polyvinyl Chloride (PVC) Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Product Type
      2. By Application
      3. By End-Use
      4. By Region
5. Market Segmentation by Product Type
   1. Rigid PVC
   2.  Flexible PVC
   3.  Others

1. Market Segmentation by End-Use
2.  Pipes & Fittings
   1. Films & Sheets
   2. Wire & Cables
   3. Bottles
   4. Profiles
   5. Hoses & Tubings
   6. Others
3. Market Segmentation by Application
   1.  Building & Construction
   2.  Automotive
   3.  Electrical & Electronics
   4.  Packaging
   5.  Footwear
   6.  Healthcare
   7.  Others
4. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      5. South Korea
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      6. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3.               Market Analysis by Product Type, Application and End-use
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type, Application and End-use
5. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
      1. INEOS Group Ltd
      2. China National Bluestar (Group) Co. Ltd
      3. LG Chem Ltd
      4. Arkema S.A
      5. Formosa Plastic Corporation
      6. Mitsubishi Chemical Corporation
      7. Saudi Basic Industries Corporation
      8. Occidental Petroleum Corporation
      9. Shin-Etsu Chemical Co. Ltd
      10. Xinjiang Zhongtai Chemicals Ltd
      11. Others

1. Strategic Recommendations
2. Appendix
   1. List of Tables
   2. List of Figures
3. References