Polyvinyl Chloride Market to Register Remarkable Growth Due to Rapid Growth in Consumer Goods and Packaging
Description :
Global Polyvinyl Chloride Market: Information by Type (Flexible and
Rigid), Application (Pipes & Fittings, Films & Sheets, Profiles &
Tubes, Cables, Bottles and Others), End Use (Construction, Automotive,
Packaging, Consumer Goods and Others) and Region (North America, Latin America,
Europe, Asia-Pacific, Middle East and Africa) - Forecast till 2027
Keywords :
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Chloride Market, Polyvinyl Chloride Industry, Polyvinyl Chloride Business,
Polyvinyl Chloride Market Price, Polyvinyl Chloride Market Report, Polyvinyl
Chloride (PCV) Market, Global Polyvinyl Chloride (PCV) Market, Polyvinyl
Chloride Market Share, Polyvinyl Chloride Market Size, Polyvinyl Chloride
Market Trends, Polyvinyl Chloride Market Growth, Polyvinyl Chloride Market
Analysis, Polyvinyl Chloride Market Research
Polyvinyl Chloride Market Analysis
The
global polyvinyl chloride market is predicted to touch USD 72.0 billion at a
4.5% CAGR over the forecast period (2019-2025), states the latest Market
Research Future (MRFR) report. Polyvinyl chloride or PVC is basically a
synthetic resin that is created from vinyl chloride polymerization. It is
highly preferred over traditional materials, which include wood, copper, or
iron in several profile applications owing to multiple benefits, alluring
features, and operational efficiencies. PVC can be made soft and flexible with
the addition of phthalates and plasticizers. In the soft and flexible form, it
is used in inflatable products, plumbing, electrical cable insulation, and some
applications that can replace rubber.
PVC
has an extensive range of applications including plasticizers, healthcare,
clothing, furniture, construction, and others. Today it exists in a plethora of
consumer products which includes packaging, cling films, credit cards, bottles,
and others. It is also used in several construction materials such as
wallpaper, flooring, cables, pipes, window frames, to name a few. Due to its
water resistance, durability, and affordability, PVC is ideal for shower
curtains, boots, and raincoats.
Various
factors are propelling the polyvinyl
chloride market growth. Some of these factors, according to the Market Research
Future report, include burgeoning demand for polyvinyl chloride in the
automotive and construction industries, rapid growth in consumer goods and
packaging, and rising applications in the healthcare domain.
On
the contrary, the shortage in feedstock supply owing to the rise in the price
of different products and closing down of facilities is likely to hamper the
polyvinyl chloride market growth over the forecast period.
Polyvinyl
Chloride Market Segmentation
The
MRFR report offers a wide segmental analysis of the polyvinyl chloride market
on the basis of end use, type, and application.
Based
on type, the polyvinyl
chloride market is segmented into flexible and rigid.
Based
on application, the polyvinyl chloride market is segmented into cables,
bottles, firms and sheets, tubes and profiles, pipes and fittings, and
others.
Based
on end use, the polyvinyl chloride market is segmented into automotive,
construction, consumer goods, packaging, and others.
Polyvinyl
Chloride Market Regional Analysis
By
region, the polyvinyl chloride market report covers the latest trends and
growth opportunities across the Asia Pacific, North America, Europe, and the
Middle East and Africa. Of these, the APAC region will spearhead the market
over the forecast period. This is owing to expanding residential properties and
numerous electrifying villages, towns, and cities. China is a key contributor
in this region as it is the biggest worldwide producer and consumer of
polyvinyl chloride.
The
polyvinyl chloride market in North America will have the second-largest share
in the market over the forecast period. This is owing to the region’s growing
construction industry. The US is the key contributor in this region.
The
polyvinyl chloride market in Europe will have favorable growth over the
forecast period. This is owing to the increase in auto parts
manufacturing.
The
polyvinyl chloride market in the Middle East and Africa is predicted to have a
notable growth over the forecast period. The redesign and extension development
ventures in this region is predicted to boost the market growth.
The
polyvinyl chloride market in Latin America will have a steady growth over the
forecast period. Mexico is the key contributor in this region owing to the
presence of key automobile manufacturers.
Key
Players
Leading
players profiled in the polyvinyl
chloride market report include I. du Pont de Nemours and Company (US), Xinjiang
Zhongtai Chemical Co., Ltd. (China), Vinnolit GmbH & Co. KG (Germany), Kem
One SAS (France), Mexichem, S.A.B. de C.V. (Mexico), Axiall Corporation (US),
Occidental Petroleum Corporation (US), Ineos Group Limited (UK), Shin-Etsu
Chemical Co., Ltd. (Japan), and Formosa Plastics Corporation (Taiwan). Key
players are incorporating several strategies to strengthen their position in
the market, such as product launches and innovations, expansions, research and
development, partnerships, collaborations, and more.
August
2019: Baton Rouge plastics is all set to expand its polyvinyl chloride resin
production.
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