#Polyvinyl Chloride Market

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Polyvinyl Chloride (PVC) Market is in trends by growing construction activities

With its excellent properties such as durability, resistance to corrosion and moisture, and cost-effectiveness, polyvinyl chloride (PVC) has widespread applications across various end-use industries. Most commonly, PVC is used in pipes, fittings and profiles for plumbing and drainage systems. It is also employed in window frames, sidings, gutters, flooring and wire and cable insulation owing to its strength, flexibility and weather resistance.

The global Polyvinyl Chloride (PVC) market size was valued at US$ 55.73 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 3.8 % from 2023 to 2030.

Key Takeaways Key players operating in the Polyvinyl Chloride (PVC) are ChemChina, Formosa Plastics Corporation, Ineos, Inner Mongolia Junzheng Energy and Chemical Group, Kem One, LG Chem, Occidental Petroleum Corporation, Orbia, SABIC, Shaanxi Coal and Chemical Industry Group Co. Ltd, Shin-Etsu Chemical Co. Ltd, Xinjiang Tianye (Group) Co. Ltd, Westlake Chemical Corporation, and Xinjiang Zhongtai Chemicals. With rising urbanization and infrastructural development activities particularly in emerging economies, the demand for PVC from the construction industry is expected to surge.The major players are focusing on capacity expansion plans and strategic collaborations to expand their global reach. The Polyvinyl Chloride (PVC) Market Trends is driven by growing construction activities across the globe. Rapid urbanization and increasing spending on infrastructure development in emerging economies like China, India are fueling the demand for PVC in applications such as pipes, windows, cables. Furthermore, steady recovery of construction sector in developed nations of Europe and North America is also driving its market growth. Market key trends One of the key trends gaining traction in the global PVC market is the increasing adoption of bio-based and recyclable Polyvinyl Chloride (PVC) Market Size and Trends. Traditionally, PVC was produced from petroleum-derived raw materials like ethylene and chlorine. However, with growing environmental concerns, manufacturers have started developing bio-based and recyclable variants of PVC using raw materials from renewable sources like sugarcane or recycled PVC waste. This is expected to make PVC production more sustainable and significantly reduce the carbon footprint.

Porter’s Analysis Threat of new entrants: The high capital intensity required to set up a PVC plant acts as a barrier for new manufacturers to enter the market.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and fragmented nature of the market.

Bargaining power of suppliers: Suppliers have high bargaining power due to the oligopolistic nature of key raw material markets like ethylene and chloride.

Threat of new substitutes: Substitutes like polyethylene and polypropylene pose threat to PVC especially in non-rigid applications.

Competitive rivalry: Intense competition exists among established players to gain market share. Geographical Regions In terms of value, Asia Pacific dominates the global PVC market currently accounting for over 55% of global consumption. China is the largest producer and consumer of PVC resin globally. Other major markets include India and Southeast Asian countries. The fastest growing region for PVC market is expected to be Asia Pacific during the forecast period. Increasing construction activities, improving economic conditions and rising disposable incomes are fueling the demand for PVC in end use applications like pipes & fittings, films & sheets, wires & cables etc. Countries like China, India are anticipated to drive the growth of PVC market in the region. In contrast, the mature markets of North America and Europe are anticipated to grow at a sluggish pace compared to developing economies of Asia Pacific and South America regions over the next decade.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

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Driving Business Growth with Polyvinyl Chloride (PVC) Procurement Intelligence 2024 - 2030

Procurement of PVC benefits buyers from several end-use sectors, such as construction, packaging, automotive, electronics, and healthcare, due to its versatility and abundant applications in these sectors. The global market size was estimated at USD 54.6 billion in 2023. In 2023, APAC dominated the industry, comprising 38% of the global market share in 2023. Countries such as India, China, and Japan are the key contributors to APAC’s growth, prompting supply chain managers to foster their strategies. Key driving factors for other regions, such as North America and Europe, include the substantial presence of key players and technological advancements in manufacturing. Moreover, this is an important material in shock-absorbing automotive components, and sales of automobiles in the aforesaid regions are forecasted to rise exponentially during the next few years.

In 2024, the PVC industry has been significantly impacted by challenges such as raw material price volatility, prohibited usage in green buildings, intense competition from steel and concrete pipes, and health hazards. For instance, the prices of key raw materials used in the production of this commodity, including ethylene and chlorine, are witnessing market fluctuations due to geopolitical tensions, supply chain disruptions, and changes in energy prices. Moreover, green building certifications such as LEED (Leadership in Energy and Environmental Design) and other sustainable building standards are increasingly restricting the use of this commodity due to environmental and health concerns.

Key technology trends that are driving the growth include Oriented Polyvinyl Chloride (PVC-O) technology, nanotechnology integration, IoT-integrated pipes, use of hybrid materials, compounding, 3D printing, and climate-resilient designs. Nanotechnology integration is revolutionizing this industry by enhancing material properties through nanocomposites. Innovations like ‘NanoVinyl’ integrate nanomaterials to improve strength and durability while preserving flexibility. Compounding involves enhancing basic resin by adding plasticizers, stabilizers, fillers, pigments, and lubricants. These components influence properties, including flexibility, color, thermal stability, and resistance to UV light and chemicals.

Order your copy of the Polyvinyl Chloride (PVC) Procurement Intelligence Report, 2024 - 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Key suppliers compete based on pricing, customization, lead time reduction, improving customer service, and enhancing brand reputation. Moreover, they emphasize product quality, use of sustainable materials, innovations, durability and R&D as buyers consider these parameters while sourcing PVC.

The prices of products in this industry fluctuate based on several parameters, including raw material price fluctuations, supply chain disruptions, labor cost variations, fluxes in energy costs, quality, and demand. For instance, various grades of PVC resin serve specific applications and come with different price tags. Premium, impact-resistant PVC commonly used in pipes tends to be more expensive than general-purpose grades. Moreover, resin pricing is significantly impacted by crude oil costs (due to crude oil being a key component used in manufacturing). When crude oil prices rise, resin prices tend to follow a similar trend.

Amid the COVID-19 pandemic, disruptions in supply chains caused global prices to surge temporarily. In response, many governments reduced import duties to stabilize prices. Consequently, PVC imports increased during the pandemic. By 2023, the supply-demand situation somewhat stabilized, although global demand remained slightly below pre-pandemic levels due to a slower-than-anticipated economic resurgence.

PVC Sourcing Intelligence Highlights

• This market consists of a fragmented landscape, with the players engaged in intense competition.

• Owing to the availability of substitutes, buyers have substantial bargaining power and the flexibility to switch to alternative suppliers.

• China, India, and Vietnam are preferred as low-cost or best-cost countries for sourcing due to their low costs of raw materials, cheap labor costs, inexpensive equipment cost, and high domestic production volume.

• The key components of the cost structure include raw materials (such as ethylene and chlorine), labor, equipment, energy, packaging, transportation, and other costs. Other costs include R&D, rent and utilities, compliance, general and administrative, sales and marketing, and taxes.

Browse through Grand View Research’s collection of procurement intelligence studies:

• Polyethylene Terephthalate (PET) Procurement Intelligence Report, 2024 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

• Methanol Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

PVC - Key Suppliers

• Arkema S.A.

• Formosa Plastics Corporation

• INEOS AG

• KEM ONE SAS

• LG Chem, Ltd.

• Mitsubishi Chemical Group Corporation

• Occidental Petroleum Corporation

• Shin-Etsu Chemical Co., Ltd.

• Sinochem Holdings Corporation Ltd.

• Solvay S.A.

• Westlake Corporation

• Xinjiang Zhongtai Chemical Co., Ltd.

PVC Procurement Intelligence Report Scope

• Growth Rate: CAGR of 3.9% from 2024 to 2030

• Pricing Growth Outlook: 5% - 10% increase (Annually)

• Pricing Models: Cost-plus pricing, volume-based pricing, demand-based pricing, competition-based pricing

• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence

• Supplier Selection Criteria: Geographical service provision, industries served, years in service, employee strength, revenue generated, key clientele, regulatory certifications, product type (unplasticized / chlorinated / molecularly-oriented / modified), product source (chemical-based / bio-based), delivery mode (offline / online), customer service, lead time, and others

• Report Coverage: Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships

• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing

• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

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Polyvinyl Chloride Market Size, Trends & Growth | Industry Analysis Upto 2030

The global polyvinyl chloride market is predicted to touch USD 72.0 billion at a 4.5% CAGR over the forecast period (2022-2030), 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. 

Polyvinyl Chloride Market 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. 

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Polyvinyl Chloride (PVC) Resin Market - Forecast(2024 - 2030)

Polyvinyl Chloride (PVC) Resin Market Overview

The Polyvinyl Chloride (PVC) Resin Market size is estimated to reach US$86.2 billion by 2027, after growing at an estimated CAGR of 4.7% during the forecast period 2022-2027. Polyvinyl Chloride (PVC) resin is a thermoplastic resin manufactured by polymerization of vinyl chloride monomers. It is extensively used over polypropylene, polyethylene terephthalate and polyethylene owing to its superior impact strength and stiffness. The PVC resin has major utilization in the building and construction sector due to superior features such as strength, preference over metal materials, lightweight, durability and non-toxicity, thereby driving the polyvinyl chloride (PVC) resin market. In addition, the rise in medical and healthcare projects is fueling its demand for a wide range of applicability in blood transfusion sets, emergency burns treatment, bedding covers and others, thereby offering growth in the polyvinyl chloride (PVC) resin industry. The major disruption caused by the COVID-19 outbreak impacted the growth of the Polyvinyl Chloride (PVC) Resin market due to disturbance in manufacturing, closure of construction sites, falling vehicle production, supply chain disruption and other lockdown restrictions. 

Polyvinyl Chloride (PVC) Resin Market Report Coverage

The “Polyvinyl Chloride (PVC) Resin Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Polyvinyl Chloride (PVC) Resin Industry.

By Type: Rigid and Flexible.

By Application: Dashboards, Consumer Electronics, Sealants, Electric Wires, Flooring, Pipes, Cable Insulation and Others.

By End-use Industry: Automotive (Passenger Vehicles [PVs], Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs]), Building & Construction (Residential, Commercial, Industrial and Infrastructural), Electrical & Electronics (Computer, Fuse Boxes and Others), Medical & Pharmaceuticals, Consumer Goods and Others.

By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World [the Middle East (Saudi Arabia, the UAE, Israel and Rest of the Middle East] and Africa (South Africa, Nigeria and the Rest of Africa)].

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Key Takeaways

North America dominates the Polyvinyl Chloride (PVC) Resin Market, owing to growth factors such as the flourished base for the construction sector, rising healthcare spending and urbanization. They would continue to boost the market in this region.

The flourishing building & construction sector across the world is propelling the demand for Polyvinyl Chloride (PVC) Resin for various applications such as flooring, pipes & fittings, roofing and others, thereby influencing the growth in the Polyvinyl Chloride (PVC) Resin market size.

The growing demand for Polyvinyl Chloride (PVC) Resin over polypropylene, polyethylene, polyethylene terephthalate and others for medical applications in blood sets, coverings and others is fueling the growth in the market.

However, the environmental threats associated with PVC act as a challenging factor in the Polyvinyl Chloride (PVC) Resin industry.

Polyvinyl Chloride (PVC) Resin Market Segment Analysis – by Type

The flexible segment held a significant Polyvinyl Chloride (PVC) Resin Market share in 2021 and is forecasted to grow at an estimated CAGR of 4.6% during the forecast period 2022-2027. The demand for flexible PVC resin type is growing due to factors such as strong application scope over rigid type, excellent insulation, non-toxicity and stability. The applicability of flexible polyvinyl chloride is surging in the residential construction sector for roofing, home flooring, sealants and others. In addition, increasing usage of electrical wires and cables in electronics is also boosting its demand. Thus, with established utilization across major end-use sectors, the flexible Polyvinyl Chloride (PVC) Resin type is anticipated to grow rapidly during the forecast period.

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Polyvinyl Chloride (PVC) Resin Market Segment Analysis – by End-use Industry

The building & construction segment held a significant Polyvinyl Chloride (PVC) Resin Market share in 2021 and is forecasted to grow at an estimated CAGR of 4.9% during the forecast period 2022-2027. The polyvinyl chloride (PVC) resin has major applications over other resins such as polypropylene, polyethylene, polyethylene terephthalate and others in the building and construction sector. It is mainly used for flooring, roofing, sealants, pipe & fittings, cladding and others due to its superior strength, versatility, lightweight and durability. For instance, according to Oxford Economics, the global construction output in 2020 accounted for US$10.7 trillion and is projected to grow by 42% to reach US$15.2 trillion between 2020 and 2030. According to European Construction Industry Federation (FIEC), construction activity increased by 10.3% in volume in France for the year 2021 compared to 2020. According to the National Investment Promotion & Facilitation Agency, the construction sector in India is projected to reach US$1.4 trillion by the year 2025. With the established base for construction activities, the applicability of this thermoplastic resin for flooring, home roofing and others is risin. These are the reasons why the production and growth scope for Polyvinyl Chloride (PVC) Resin is projected to rise rapidly during the forecast period.

Polyvinyl Chloride (PVC) Resin Market Segment Analysis – by Geography

North America held a significant Polyvinyl Chloride (PVC) Resin Market share of up to 17.6% in 2021. The lucrative growth scope for polyvinyl chloride (PVC) resin in this region is influenced by the flourished base for the construction sector, rising healthcare production and rapid urbanization. For instance, according to the United States Census Bureau, the total privately-owned housing units completed in the U.S rose from 1,326 thousand units in December 2021 to 1,465 thousand units in May 2022. According to the Conference Board of Canada, the residential construction investment rose by 7.6% in March 2021 to US$10.99 billion over the past 11 months. According to the International Trade Administration (ITA), the forecasted construction value in Mexico increased from US$72.89 billion in 2020 to US$82.56 billion in 2022. Furthermore, the new housing construction is expected to hold 22% of the housing investment through 2024. Thus, with an increase in construction production and investment activities in North America, demand and production for PVC resins are growing, which, in turn, is anticipated to boost the growth scope for Polyvinyl Chloride (PVC) Resin market in North America during the forecast period.

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Polyvinyl Chloride (PVC) Resin Market Drivers

Rapid Growth of the Automotive Industry :

Polyvinyl Chloride (PVC) Thermoplastic Resins have significant demand in the automotive sector for applications in automotive door panels, seat covering, coatings and others. The automotive industry is rapidly flourishing owing to growth factors such as a rise in passenger vehicle demand, vehicle electrification, growing public transportation and rising income level. For instance, according to the European Automobile Manufacturer Association, South America car production grew by 11% while US car production grew by 3.1% in 2021. According to the China Association of Automotive Manufacturers (CAAM), the production and sales of new energy vehicles reached 1.29 million units and 1.25 million units in the quarter 1st of 2022 respectively, marking a rise of 140% year-on-year. According to the International Organization of Motor Vehicles Manufacturers (OICA), the global production of passenger cars increased from 55,834,456 units in 2020 to 57,054,295 units in 2021. With the increase in automotive vehicle production, the utilization of PVC resin in the vehicle body, seating and others is rising, which, in turn, is driving the Polyvinyl Chloride (PVC) Resin industry.

Flourishing Growth of the Electrical & Electronics Industry:

The Polyvinyl Chloride (PVC) Resin is widely used in the electrical and electronics sector for applicability in wires and cables, computers, lighting and others, owing to superior insulation and durability. The lucrative growth in the electronics sector is influenced by growth factors such as robust demand for consumer electronic devices, soaring production base and urbanization. According to the LG Electronics annual report, the sales of electronic appliances increased by 28.7% to reach US$65.32 billion in 2021 over 2020. According to OBERLO, the total revenue of consumer electronics in the US is expected to increase by 7.5% in 2023. According to the Japan Electronics and Information Technology Industries Association (JEITA), the production of consumer electronic equipment in Japan increased from US$215 million in January 2022 to US$230 million in March 2022. With the rise in electronics device production and growth scope, the utility and production of Polyvinyl Chloride (PVC) Resin for applications in electrical appliances are rising, thereby driving the Polyvinyl Chloride (PVC) Resin industry.

Polyvinyl Chloride (PVC) Resin Market Challenge

Harmful Impacts of Polyvinyl Chloride (PVC) Resin on Environment :

Polyvinyl Chloride Resin, which is used in making PVC plastic, poses severe toxicity. The PVC resin plastic is produced through chlorine-based chemicals and releases toxic fumes in the environment, which creates an environmental hazard. The PVC releases a large number of dioxins, hydrocarbons, phthalates and other harmful substances during production and waste disposal, thereby leading to air pollution and human health threat. Moreover, PVC is non-biodegradable and leads to soil, air and water damage. Thus, owing to such harmful effects on the environment, the utilization and applicability of PVC face slowdown. Due to this reason, the Polyvinyl Chloride (PVC) Resin industry anticipates major obstacles in its growth.

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Polyvinyl Chloride (PVC) Resin Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polyvinyl Chloride (PVC) Resin Market. The 10 companies in the Polyvinyl Chloride (PVC) Resin Market are:

LG Chem

Kem One

Cires SA

SCG Chemicals Co. Ltd.

Braskem

Mitsubishi Chemical Corporation

INEOS Group

Solvay

Shin-Etsu Chemical

Recent Developments

In July 2022, Meghmani Finechem Limited commissioned the largest chlorinated polyvinyl chloride resin plant. The latest CVC unit has a capacity of up to 40,000 TPA which fulfills the demand in the PVC business.

In April 2021, LG Chem announced the production of sustainable materials, including polyvinyl chloride, at its polymerization plant in Yosu and Iksan.

In October 2020, AGR resin, which is a modified polyvinyl chloride resin of Xinjiang Zhongtai Chemical Fukang Energy Company, passed the Standard Project Evaluation to offer excellent durability and strength.

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Polyvinyl Chloride (PVC) Market Disruption: Technological Advances and Industry Transformation

Polyvinyl chloride (PVC) is a versatile thermoplastic polymer with high structural strength and chemical resistance properties. Its applications range from pipes, window profiles, cables, flooring to medical devices. PVC finds wide use in construction industry for applications such as pipes, doors & windows, flooring, and roofing owing to its cost-effectiveness, durability and UV resistance. The global Polyvinyl Chloride (PVC) Market is estimated to be valued at US$ 55.73 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity Use in construction applications: PVC has emerged as the preferred material for construction applications such as pipes, doors & windows, flooring and roofing due to its excellent durability and lower weight compared to conventional materials such as metal, wood, and concrete. The growth in construction industry particularly in emerging economies is expected to boost the demand for PVC for construction applications during the forecast period from 2023 to 2030. Porter’s Analysis Threat of new entrants: Low capital requirements and availability of raw materials lowers the barriers for new companies. However, established players benefit from economies of scale and brand recognition. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and differentiated products from different manufacturers. Bargaining power of suppliers: Supply of key raw materials like ethylene and chlorine is concentrated, increasing suppliers' bargaining power. Threat of new substitutes: Substitutes like polyethylene are increasing competition. However, established use and versatility of PVC provides some defense against substitution. Competitive rivalry: Intense competition exists among major players to increase market share through product innovation and expansion. SWOT Analysis Strength: High demand from construction and automotive industries. Variety of applications and good physical properties. Weakness: Environmental and health concerns regarding production and disposal. Recent price fluctuations in raw material costs. Opportunity: Emerging applications in pipes, films & sheets are expected to drive future growth. Threats: Stringent regulations associated with production and usage may hamper demand. Increased competition from substitute materials. Key Takeaways The global PVC market is expected to witness high growth during the forecast period. The global Polyvinyl Chloride (PVC) Market is estimated to be valued at US$ 55.73 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030.

Regional analysis: The Asia Pacific region is projected to be the fastest growing as well as the largest PVC market during the forecast period led by China, India & other ASEAN countries. Rising infrastructure development programs are driving the demand. Key players: Key players operating in the PVC market are Shin-Etsu Chemical Co., Formosa Plastics Group, Ineos Chlorvinyls Ltd, Solvay S.A., Westlake Chemical, and Occidental Petroleum Corporation.

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Chlorinated Polyvinyl Chloride (CPVC) Market Analysis, Report 2022-2029

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Chlorinated Polyvinyl Chloride (CPVC) Market size at USD 1.53 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Global Chlorinated Polyvinyl Chloride Market size to grow at a CAGR of 11.37% reaching a value of USD 2.92 billion by 2029. Growing number of large construction projects and the increasingly high adoption of CPVC in a variety of applications, including pipe and fittings and power cable casing, are key growth drivers for the Global Chlorinated Polyvinyl Chloride (CPVC) Market. Furthermore, it is projected that the Global Chlorinated Polyvinyl Chloride (CPVC) Market will grow during the forecast period due to the substantial use of CPVC in fire sprinklers and strict safety requirements across countries.

Chlorinated Polyvinyl Chloride (CPVC) – Overview

Chlorinated polyvinyl chloride (CPVC) is produced by mixing PVC and chlorine using a fluidized bed chlorination method or a water slurry. It is a polymer with remarkable corrosion resistance and thermoplastic qualities. Chlorinated PVC also shows a fair degree of thermal stability. Therefore, it is used in a wide range of commercial and industrial applications because of its intrinsic chemical resistance as well as its resilience to temperature changes and pressure. Greater strength is provided by CPVC to support large wire loads. In addition to being used for electrical items, it also covers exposed wire in homes and workplaces.

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Global Chlorinated Polyvinyl Chloride (CPVC) Market – By Application

Based on application, the Global Chlorinated Polyvinyl Chloride (CPVC) Market is segmented into pipe & fittings, fire sprinkler systems, power cable casing, coatings and adhesives. The pipe and fittings segment accounts for the highest market share owing to the rising construction activities and increasing number of residential and commercial facilities. In addition to drain, waste, and venting pipes, CPVC plumbing is used in the home to supply hot and cold drinkable water, as well as in the synthesis and transport of chemicals, irrigation, and agricultural fertilizers.

Impact of Geopolitical Tensions across Regions on Global Chlorinated Polyvinyl Chloride (CPVC) Market

The raging war between Israel and Hamas, a Palestine-based militant and nationalist organization, sends shockwaves across various industries, particularly oil & gas, transcending geographic boundaries and affecting businesses globally. The conflict between Israel-Hamas has been a longstanding, deeply entrenched geopolitical issue. On October 07, 2023, Hamas, in a surprise and heavy attack, struck Israel with thousands of rockets and infiltrations killing more than 1,100 people. In response, the prime minister of Israel declared war against Hamas and anticipated that the war would be ‘long and difficult.’ The United States has sent its warships and aid to Israel and stated that its citizens were killed in the war. At the end of October 2023, it was estimated that more than 10,000 people during the war.

Also, the wars in the Middle East and Ukraine will affect industries across verticals and regions. Oil & gas is one of the adversely affected industries by the war. The Middle East, including Israel, is a vital hub for oil production and transportation. Any disturbance in the Middle East region instantly raises concerns about oil supply disruptions, leading to increased oil prices worldwide. For example, the World Bank anticipates that the crude oil prices would spike to a range of USD 140–157 a barrel in the long term, if the war continues to escalate and spreads to other regions. This spike in oil and energy costs will have a domino effect on multiple industries. As fossil fuel is the main raw material for CPVC, companies and end users in the Global Chlorinated Polyvinyl Chloride (CPVC) Market face the brunt of rising fuel prices. Volatile and higher fuel prices could increase the cost of CPVC, resulting in the declined demand for them affecting their sales and market growth.

Competitive Landscape

Major players operating in the Global Chlorinated Polyvinyl Chloride (CPVC) Market include Lubrizol Corporation, KEM ONE, Novista Group, Jiangsu Tianteng Chemical Industry, BASF SE, Sekisui Chemical, Hangzhou Electrochemical Group Co., Ltd., Kaneka Corporation, Navient Corporation, and Shandong Xiangsheng New Materials Technology.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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[mi-researchreports]

Polyvinyl Chloride (PVC) Market is poised to grow at a CAGR of 4% by 2028. Increasing Application in the Healthcare and Medical Devices Industries is fueling Polyvinyl Chloride (PVC) Industry.

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The Saudi Arabia Polyvinyl Chloride (PVC) Market is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2023-28. The market growth has been attributed to various factors like rapid urbanization & construction of residential & non-residential infrastructures contributed by the surge in the expatriate population of the country. The expansion in the construction industry has led to a surge in demand for building materials like pipes & fittings, wire & cables, and other materials which require PVC for manufacturing.

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Data Bridge Market Research analyses that the polyvinyl chloride (PVC) market value, which was USD 40 billion in 2021, is expected to reach the value of USD 60 billion by 2029, at a CAGR of 5.20% during the forecast period. "

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Polyvinyl Chloride (PVC) Market is expected to reach US$ 83.80 Bn. by 2029. The thermoplastic polymer that is most frequently used is polyvinyl chloride (PVC). It is extremely fragile and naturally white in colour. It is a synthetic resin made from vinyl chloride polymerization.

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India Chlorinated Polyvinyl Chloride (CPVC) Market to Grow at a CAGR of 7.22% by FY2032

According to ChemAnalyst report, “India Chlorinated Polyvinyl Chloride (CPVC) Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End-User Industries, Sales Channel, Regional Demand, Company Share, FY2015-FY2032”, The India Chlorinated Polyvinyl Chloride (CPVC) Market is likely to reach around 300 thousand tonnes by FY2032, at a CAGR of 7.22% during the forecasted period. A joint venture between Grasim Industries Ltd. and Lubrizol India Pvt. Ltd. is anticipated to begin operations at Vilayat, Gujarat, in FY2025. This venture is anticipated to have a 100 thousand tonnes per annum manufacturing capacity.  Reliance Industries Ltd. is also developing a CPVC plant with an annual capacity of 70 thousand tonnes per annum capacity is anticipated to be operational by FY2026.

Chlorinated polyvinyl chloride, also known as CPVC, is a thermoplastic. It is synthesized made from PVC resin that has been chlorinated. In order to make the resin more receptive to processing, other additives are also added to the resin. These additives could include lubricants, colors, impact modifiers, stabilizers, and impact modifiers. Chlorinated polyvinyl chloride has a number of other advantages, including high strength, temperature resistance, stretchability, resistance to corrosion, efficient insulation, heat resistance, and lightweight. CPVC provides more strength for sustaining wires with heavy loads. It is applied to electrical products and used to hide exposed wiring in homes and workplaces. In addition, it is utilized for electrical busbars, track light fittings, electrical items, and electronic components including wire ways, switches, and others.

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The need for Chlorinated Polyvinyl Chloride (CPVC) to manufacture pipes and sprinklers applications has grown significantly in recent years. The product is flexible and easily mouldable, which makes it perfect for thermoforming applications. Moreover, CVPVC pipes are cheaper than metal pipes and display water-resistant nature, driving its application in the pipe industry. The expansion of the nation's farming practices and steps by the Government towards a modern approach towards irrigation industries is projected to increase demand for pipes & sprinkler systems and consequently fuel the market growth for Chlorinated Polyvinyl Chloride (CPVC). Furthermore, increasing disposable income and a surge in building and construction projects call for pipes & fittings, anticipated to further surge the CPVC demand in the upcoming years.

The India Chlorinated Polyvinyl Chloride (CPVC) Market is segmented based on grade, end-use, sales channel, and region. Based on grade, the CPVC market is segregated into Pipe & Fitting (Extrusion) Grade, Adhesive Grade, and Sheathing Grade. Although, the Pipe & Fitting (Extrusion) Grade dominates the global CPVC market.

Based on end-use, the India Chlorinated Polyvinyl Chloride (CPVC) market is segregated into Hot Water pipes/fittings, Industrial pipes/fittings, Fire Sprinkler pipes/fittings, Underground pipes for housing power cables, and Others. Among these, Hot Water pipes/fittings are dominating the India Chlorinated Polyvinyl Chloride (CPVC) market. This segment held roughly 50% of the Chlorinated Polyvinyl Chloride (CPVC) market in FY2023. This industry is expected to continue to dominate during the forecast period due to a surge in demand for fittings for irrigation purposes. 

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Regionally, India Chlorinated Polyvinyl Chloride (CPVC) market is segregated into four regions based on regional consumption: West, South, North, and South. West India is leading the market and held about 38% of the market in FY2023. Western states like Gujarat and Maharashtra have numerous plastic product manufacturers located in these regions. To fulfill the growing demand of CPVC across India, two new plants are upcoming, one being a joint venture between Grasim Industries Ltd. and Lubrizol India Pvt. Ltd and the second plant by Reliance Industries Ltd.

“India Chlorinated Polyvinyl Chloride (CPVC) Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, Grade, End-User Industries, Sales Channel, Regional Demand, Company Share, FY2015-FY2032” Major players in the India Chlorinated Polyvinyl Chloride (CPVC) market are Meghmani Fine Chem ltd. DCW Ltd., Reliance Industries Ltd., Grasim Industries & Lubrizol India Pvt. Ltd., and others. Major players in the Global Chlorinated Polyvinyl Chloride (CPVC) are Lubrizol Advanced Materials, Kaneka Corporation, Sekusei Chemicals Co Ltd, Hanwha Chemical Corporation, Shandong Xiangsheng New Materials Technology Co., Ltd., and Others.

“Chlorinated Polyvinyl Chloride (CPVC) is mouldable polymer with properties like water-resistance, abrasion resistance due to which it makes as a suitable material for thermoforming applications in various industries. The growing demand of Chlorinated Polyvinyl Chloride (CPVC) to manufacture components of pipes and fittings for applications in various industries such as agriculture is expected to boost the India Chlorinated Polyvinyl Chloride (CPVC) Market in the forecast period until FY2032. Through the projection period, an increase in demand of Chlorinated Polyvinyl Chloride (CPVC) is anticipated to present numerous opportunities for new manufacturers to bridge the supply and demand gap in the country by opening new CPVC manufacturing sites.  “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.

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POLYVINYL CHLORIDE (PVC) MARKET Growth, Industry Size-Share, Global Trends, Key Players Strategies and Upcoming Demand

Data Bridge Market Research analyses that the POLYVINYL CHLORIDE (PVC) MARKET will project a compound annual growth rate (CAGR) of 5.20% during the forecast period of 2022-2029.

A world class POLYVINYL CHLORIDE (PVC) MARKET research report is formulated with the finest and advanced tools of collecting, recording, estimating and analysing market data. With the systematic and comprehensive market research study, this market research report offers the facts associated with any subject in the field of marketing for Chemical and Materials industry. It gives superior ideas and solutions in terms of product trends, marketing strategy, future products, new geographical markets, future events, sales strategies, customer actions or behaviours. This POLYVINYL CHLORIDE (PVC) MARKET report has been prepared by considering several fragments of the present and upcoming market scenario.

POLYVINYL CHLORIDE (PVC) MARKET Scope and Market Size

The polyvinyl chloride (PVC) market is segmented on the basis of product type, stabilizer type, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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Some of the key questions answered in this report:

How has the POLYVINYL CHLORIDE (PVC) MARKET performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the POLYVINYL CHLORIDE (PVC) MARKET?

What are the key regional markets?

What are the key driving factors and challenges in the industry?

What is the structure of the POLYVINYL CHLORIDE (PVC) MARKET and who are the key players?

Market Analysis and Insights:  POLYVINYL CHLORIDE (PVC) MARKET

Owing to the presence of chlorine content in polyvinyl chloride, it has a fire resistance and decelerating property. As a result, it is increasingly being used in buildings and construction activities. Polyvinyl chloride is generally prepared into two categories, namely flexible and rigid polyvinyl chloride (PVC).      

Data Bridge Market Research analyses that the polyvinyl chloride (PVC) market value, which was USD 40 billion in 2021, is expected to reach the value of USD 60 billion by 2029, at a CAGR of 5.20% during the forecast period. "Building and Construction" accounts for the most prominent application segment in the polyvinyl chloride (PVC) market owing to the growing number of buildings and construction activities. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

POLYVINYL CHLORIDE (PVC) MARKET - Regional Level Analysis

The countries covered in the polyvinyl chloride (PVC) market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

POLYVINYL CHLORIDE (PVC) MARKET - Share Analysis: 

The polyvinyl chloride (PVC) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to nitric acid market.

Key player - POLYVINYL CHLORIDE (PVC) MARKET 

Avient Corporation (US)

Chemplast Sanmar Limited (India)

Westlake Chemical Corporation (US)

Mitsubishi Chemical Corporation (Japan)

SABIC (Saudi Arabia)

LG Chem (South Korea)

3M (U.S.)

Dow (U.S.)

DuPont (U.S.)

LSB INDUSTRIES (US)

Sika AG (Switzerland)

Innospec (U.S.)

ADEKA CORPORATION (Japan)

Dorf Ketal Chemicals (I) Pvt. Ltd. (U.S.)

PMC Specialties Group (U.S.)

Afton Chemical (U.S.)

The Lubrizol Corporation (U.S.)

Clariant (Switzerland)

LANXESS (Germany)

Mayzo, Inc. (U.S.)

Solvay (Belgium)

Akzo Nobel N.V. (Netherlands)

Arkema (France)

Eastman Chemical Company (U.S.)          

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MAJOR TOC OF THE REPORT

Chapter One: Introduction

Chapter Two: Scope and Market Size

Chapter Three: Analysis and Insights

Chapter Four: Country Level Analysis

Chapter Five: Share Analysis

Chapter Six: Key player

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Polyvinyl Chloride (PVC) Market Resilience: Adapting to Changing Economic and Regulatory Landscape

Polyvinyl chloride, commonly abbreviated as PVC, is a thermoplastic polymer derived from petrochemicals. It has a variety of applications due to its high strength, durability, versatility and ease of installation. PVC is used to make plumbing pipes and fittings, flooring, roofing, surface coatings, window frames, siding, wire & cable insulation, and medical devices among others. It is highly corrosion-resistant, cost-effective and requires low maintenance. PVC pipes do not rust, rot or corrode which make them preferable over metal pipes in many applications. The global Polyvinyl Chloride (PVC) Market is estimated to be valued at US$ 55.73 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity:

Wide Range of Applications The wide range of applications of PVC due to its versatility has led to increasing demand over the years. It is used in construction, wire & cable insulation, medical devices, automotive and other sectors. PVC pipes are commonly used for sewage, drainage and water supply systems due to their high strength, durability and corrosion resistance. The growth of the construction industry especially in emerging economies has augmented the demand for PVC pipes, fittings, flooring, window frames and sidings which has created lucrative opportunities for players in the PVC market. Porter's Analysis Threat of new entrants: Low as PVC requires high capital investments in manufacturing facilities and supply chain. Bargaining power of buyers: Moderate as PVC has many substitute products. Bargaining power of suppliers: Moderate as raw materials for PVC like chlorine gas and ethylene have many global suppliers. Threat of new substitutes: Moderate as alternate materials like Polyolefins poses threat. Competitive rivalry: High as industry has many global players competing on price and quality. SWOT Analysis Strengths: Wide applications, low cost, durability. Weaknesses: Environmental concerns during production and disposal. Opportunities: Growth in construction and automotive industries. Threats: Stringent regulations, substitute products. Key Takeaways The global PVC market is expected to witness high growth during the forecast period of 2023-2030. The Asia Pacific region dominated the global market in 2023 with a share of over 50% attributed to high demand from construction and automotive industries in China, India. Key regional markets include China, India, United States, Germany and Japan. Key players operating in the PVC market are ChemChina, Formosa Plastics Corporation, Ineos, Inner Mongolia Junzheng Energy & Chemical Group, Kem One, LG Chem, Occidental Petroleum Corporation, Orbia, SABIC, Shaanxi Coal and Chemical Industry Group Co. Ltd, Shin-Etsu Chemical Co. Ltd, Xinjiang Tianye (Group) Co. Ltd, Westlake Chemical Corporation, and Xinjiang Zhongtai Chemicals. The industry is dominated by few global players focusing on expanding production capacities, backward integration and new product development.