Polyvinyl Chloride (PVC) Market Manufactures Analysis, Size, Share, Trends and Forecast To 2020
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<strong>Polyvinyl</strong> <strong>Chloride</strong> (<strong>PVC</strong>) <strong>Market</strong> <strong>Manufactures</strong> <strong>Analysis</strong>, <strong>Size</strong>,<br />
<strong>Share</strong>, <strong>Trends</strong> <strong>and</strong> <strong>Forecast</strong> <strong>To</strong> <strong>2020</strong><br />
“The global <strong>Polyvinyl</strong> <strong>Chloride</strong> (<strong>PVC</strong>) <strong>Market</strong> is projected to reach<br />
USD 79.11 billion by <strong>2020</strong> <strong>and</strong> is expected to grow with attractive<br />
CAGR of 5.0% over the forecast period. The decreasing<br />
dependability of <strong>PVC</strong> on non-renewable resources such as crude<br />
oil <strong>and</strong> natural gas as compared to other synthetic polymers is<br />
expected to drive the market growth.”<br />
The global <strong>Polyvinyl</strong> <strong>Chloride</strong> (<strong>PVC</strong>) <strong>Market</strong> is projected to reach USD 79.11 billion by <strong>2020</strong> <strong>and</strong> is expected to<br />
grow with attractive CAGR of 5.0% over the forecast period. The decreasing dependability of <strong>PVC</strong> on nonrenewable<br />
resources such as crude oil <strong>and</strong> natural gas as compared to other synthetic polymers is expected to<br />
drive the market growth. The dem<strong>and</strong> for <strong>PVC</strong> in medical devices <strong>and</strong> automobiles owing to its characteristics<br />
such as high corrosion resistance, low price, workability, <strong>and</strong> effectiveness is expected to fuel market growth.<br />
<strong>Polyvinyl</strong> chloride (<strong>PVC</strong>) is the third most widely produced synthetic plastic polymer globally after polypropylene<br />
<strong>and</strong> polyethylene. <strong>PVC</strong> is available in two forms, namely rigid <strong>and</strong> flexible. The rigid <strong>PVC</strong> has its application in<br />
bottles, doors & windows, non-food packaging, <strong>and</strong> construction of pipes. The flexible <strong>PVC</strong> is used in insulation<br />
of electrical wires <strong>and</strong> in the flooring of hospitals, homes, schools <strong>and</strong> areas where sterility is required.<br />
The attributes of the product such as resistant to alkalies & chemicals, resistivity to deformation, good tensile<br />
strength <strong>and</strong> easy availability contribute to the market growth. In addition, <strong>PVC</strong> is highly used for insulation of<br />
electrical cables in low <strong>and</strong> medium voltage applications owing to its high dielectric constant <strong>and</strong> volume<br />
resistivity.<br />
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The economic recession of 2009 resulted in a sharp decline in the dem<strong>and</strong> of <strong>PVC</strong> on account of its effects on<br />
major application industries including electronics & electrical, transportation <strong>and</strong> construction. The application<br />
of the product in 3D printing, injection molding, <strong>and</strong> CNC machining is limited on account of its emission of toxic<br />
& corrosive gases while melting.<br />
<strong>PVC</strong> is highly flammable <strong>and</strong> emits hydrogen chloride (HCl) while burning thereby rendering it hazardous for the<br />
environment <strong>and</strong> restricting its use in applications with the risk of fire hazard. The diversified characteristics of<br />
the product enable its recycling for over five times, which increases it overall lifespan to around 140 years.<br />
The increasing infrastructure <strong>and</strong> construction spending in the developing markets of Latin America <strong>and</strong> Asia<br />
Pacific are likely to drive global <strong>PVC</strong> dem<strong>and</strong>. The fluctuating prices of raw materials together with the strict<br />
regulations in North America <strong>and</strong> Europe restrict the use of <strong>PVC</strong> to medical applications only.<br />
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Application Insights<br />
The major applications of <strong>PVC</strong> include electrical & electronics, construction, transportation, <strong>and</strong> consumer<br />
packaging. The product is used for car interiors such as dashboards <strong>and</strong> door panels owing to its high durability.<br />
In addition, <strong>PVC</strong> has its applications in the automotive industry as underbody coatings, sealants, floor modules,<br />
wire harnesses, passenger compartment parts <strong>and</strong> exterior parts on account of its inexpensive nature <strong>and</strong><br />
abilities to reduce the vehicle weight <strong>and</strong> providing improved flexibility in designing.<br />
Construction segment accounted for over 55.7% of the global market volume in 2013. The global events such as<br />
Summer Olympics <strong>and</strong> FIFA World Cup led to the increase in the construction spending in the BRICS nations<br />
which is likely to propel <strong>PVC</strong> dem<strong>and</strong> in the industry.<br />
The consumer applications including footwear, sportswear, <strong>and</strong> appliances contribute to over 12.0% of the<br />
global market volume in 2013. The wide use of <strong>PVC</strong> in footwear <strong>and</strong> clothing on account of its water resistance<br />
<strong>and</strong> inexpensive nature as opposed to rubber <strong>and</strong> leather is expected to bolster market growth over the forecast<br />
period.<br />
The dem<strong>and</strong> for <strong>PVC</strong> in electrical <strong>and</strong> electronics segment is expected to witness the fastest growth as opposed<br />
to its counterparts. This growth can be attributed to the increasing dem<strong>and</strong> in the electronics market in Taiwan,<br />
China, <strong>and</strong> South Korea, which in turn is anticipated to fuel the dem<strong>and</strong> of <strong>PVC</strong> over the forecast period.
Regional Insights<br />
Asia Pacific emerged as the leader by contributing to over 58.1% of the global market volume in 2013. The<br />
infrastructural development <strong>and</strong> growth of the construction market in economies such as India, Indonesia <strong>and</strong><br />
China owing to competent prices coupled with low labor cost is expected drive <strong>PVC</strong> market dem<strong>and</strong> in the<br />
region.<br />
Europe is expected to account for the second largest market share contributing to over 18.9% of the global <strong>PVC</strong><br />
market volume in 2013. The rising dem<strong>and</strong> for the product in Turkey <strong>and</strong> Russia is expected to drive the<br />
European market growth.<br />
The dem<strong>and</strong> for <strong>PVC</strong> in the Middle East & Africa is expected to witness the fastest growth as opposed to its<br />
counterparts at a CAGR of over 5.9%. The growth of the key end-use industries including electrical & electronics,<br />
automotive, <strong>and</strong> construction in South Africa <strong>and</strong> Saudi Arabia is likely to have a positive impact on the regional<br />
<strong>PVC</strong> dem<strong>and</strong>.<br />
Competitive Insights<br />
The key players in the industry are Shin-Etsu Chemical Co. Ltd., Xinjiang Zhongtai Chemical Co. Ltd, Formosa<br />
Plastics Group, LG Chem, Axiall Corporation, ChemChina, Mexichem S.A.B., Westlake Chemical Corp., BASF,<br />
Ineos Chlorvinyls Ltd., Georgia Gulf Corp., Sinopec Group, Arkema S.A., Tianjin Bohai Chemical, OxyVinyls,<br />
Vinnolit GmBH & Co., Solvay S.A., <strong>and</strong> KEM One.<br />
<strong>Market</strong> Segment:<br />
Global <strong>Polyvinyl</strong> <strong>Chloride</strong> Application Outlook (Volume, Million <strong>To</strong>ns; Revenue, USD Million, 2012 - <strong>2020</strong>)<br />
• Construction<br />
• Consumer Goods<br />
• Packaging<br />
• Electrical & Electronics<br />
• Transportation<br />
• Others<br />
Global <strong>Polyvinyl</strong> <strong>Chloride</strong> Regional Outlook (Volume, Million <strong>To</strong>ns; Revenue, USD Million, 2012 - <strong>2020</strong>)<br />
• North America<br />
• Europe<br />
• Asia Pacific
• Middle East & Africa<br />
• Central & South America<br />
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