The global polyvinyl chloride market size was valued at USD 68.96 billion in 2022 and is expected to grow from USD 72.08 billion in 2023 to USD 95.88 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period. Asia Pacific dominated the polyvinyl chloride [pvc] market with a market share of 56.19% in 2023.

Polyvinyl chloride is deployed in an extensive range of applications including electrical & electronics, packaging, transportation, healthcare, and construction. The industry expansion can be attributed to its versatile nature of bonding with several polymers. 

Fortune Business Insights™ provides this information in its research report, titled “Polyvinyl Chloride (PVC) Market, 2025-2032”. 

Get a Sample PDF Report: https://www.fortunebusinessinsights.com/enquiry/sample/polyvinyl-chloride-pvc-market-109398

List of Key Players Mentioned in the Report:

• Ercros (Spain)
• Formosa Plastics Corporation (Taiwan)
• Hanwha Group (South Korea)
• Ineos (U.K.)
• KEM ONE (France)
• Occidental Petroleum Corporation (U.S.)
• Orbia (Mexico)
• Shin-Etsu Chemical Co., Ltd. (Japan)
• Vynova (Belgium)
• Westlake Corporation (U.S.)   

Segmentation:

Rigid Segment Accounted for Major Share Considering Increasing Product Deployment for Water Supply and Irrigation

On the basis of product type, the market for polyvinyl chloride is bifurcated into flexible and rigid. The rigid PVC segment held a prominent market share in 2022. This can be credited to the extensive product usage for irrigation, drainage, and water supply on account of corrosion resistance and durability.  

Polyvinyl chloride is one of the most used and the third largest produced polymers in the world. Owing to its versatility, PVC is used in a wide range of industrial, engineering, and everyday applications, including construction, transportation, packaging, electrical & electronics, and healthcare. PVC is an extremely durable and long-lasting material that can be used in a variety of applications in its rigid or flexible forms. Unlike other thermoplastics, which are derived only from petroleum, PVC requires less non-renewable fossil fuels to produce than other standard plastics as it is made from two raw materials: salt and hydrocarbon feedstock. As a result, PVC is less oil-dependent than other thermoplastics.

Furthermore, it is highly durable and energy efficient, making it one of the key raw materials in various applications. PVC's compatibility with different types of additives is one of this material's many strengths and this makes it a versatile polymer. It’s less dependency on petroleum feedstock, unique properties, and versatile nature to bond with many polymers will drive the global polyvinyl chloride (PVC) market growth during the forecast period.

Pipe & Fittings Segment to Lead the Market Due to Rising PVC Usage on Account of Durability

On the basis of application, the market for polyvinyl chloride is subdivided into flooring, pipe & fittings, wire & cables, profiles, film & sheet, and others. The pipe & fittings segment is set to dominate the global market over the study period owing to its sustainability and durability, making it a suitable choice for water transportation.  

Building & Construction Segment Accounts for Key Share Driven by Extensive Product Adoption

On the basis of end use, the market for polyvinyl chloride is fragmented into packaging, building & construction, electrical & electronics, automotive, and others. The building & construction segment holds the largest share due to its wide product deployment in the construction sector in roofing, cables, profiles, and accessories.  

Based on geography, the market for polyvinyl chloride (PVC) has been analyzed across North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.

Report Coverage:

The report gives an account of the key steps deployed by leading companies to strengthen their market share. It further gives an insight into the vital trends in the market. An analysis of the industry based on numerous segments has also been presented in the report: product type, application, end use, and geography.

Drivers and Restraints:

Surge in Market Value Owing to Growing Demand from Construction Sector

There has been a rise in product application across the construction industry, where it is used for cables, pipes, and roofing materials. The insulating properties of PVC make it a preferred material, ensuring reliability and safety in power distribution. These factors are expected to propel polyvinyl chloride (PVC) market growth.

However, regulatory concerns associated with the release of hazardous chlorine-based byproducts during the manufacturing process may restrain the industry expansion.   

Regional Insights:

Asia Pacific to Dominate Owing to Surging Demand in Infrastructure Development and Construction

Asia Pacific polyvinyl chloride (PVC) market share is anticipated to hold a key position in the global market. The region has recorded an increasing product demand in the infrastructure development, construction, and manufacturing sectors.

The North America market size is set to surge considering the rise in construction activities in the region and the escalated product usage in an array of construction applications.

Inforamtion Source: https://www.fortunebusinessinsights.com/polyvinyl-chloride-pvc-market-109398

Competitive Landscape:

Industry Players Focus on Investing in Bio-based Products to Cater to Rising Demand

Major industry participants are investing in the development of products made from bio-based materials. These products are being introduced for meeting the soaring demand for green products. KEM ONE and Ineos are some of the key players in the market.

Key Industry Development:

June 2023 – Orbia shared intent to complete a chlor-alkali and vinyls plant in the U.S. gulf coast region. The plant would be completed by 2028.