New York
City, 04 February 2019: The Global Polyvinyl Chloride (PVC)Market Expected
to Reach USD 115.6 Billion by 2026 according to a new report published by
Polaris Market Research. Polyvinyl chloride is a vinyl chain polymer and is one
of the largest produced synthetic commodity chemicals. The global PVC market id
majorly driven by its high demand in some of the rapidly growing end-use
industries such as electrical & electronics, building & construction,
automotive, and packaging.
Polyvinyl
chloride is manufactured in two grades, which include rigid and flexible and
are have versatile applications globally. Some of the rigid polyvinyl chloride
applications include door & window frames, pipes, bottles, credit cards,
and other non-food packaging. Wires, cables, sheets, films, profile, pipes,
fittings, and sidings are some of the applications for flexible polyvinyl
chloride.
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Rising
global population in tandem with the increase in disposable incomes has led to
growth of many end-use industries that are high consumption areas for polyvinyl
chloride. Growing construction industry has mainly projected growth for rigid
polyvinyl chloride. Massive demand for consumer electronics products increased
the demand of polyvinyl chloride in electronics industry. Modernized and
lightweight automotive products have also led to steady growth in the consumption
of polyvinyl chloride.
Technological
developments are also a crucial factor for the flourishing growth of PVC
industry. Modified PVC, PVC-M, oriented PVC, and PVC-O are the result of
technical advancements and are used across a wide array of applications. This
industry has also witnessed technical developments in terms of controlling
harmful emissions. A significant result in this arena includes 99.45% reduction
in lead additives and 90% compliance with the PVC Industry Energy and
Greenhouse Gas Emissions Charter.
Competitive Landscape and Key Vendors:
Asia Pacific
is the most popular regional market for the polyvinyl chlorides. This regional
demand is mainly driven by increased consumption from China, India, Indonesia,
Vietnam, and Thailand. China became the world’s largest PVC importer around
1990s and as a result massive investments in the vinyl capacities and has huge
capacities in excess today.
Western
Europe and North America are the two mature markets for the polyvinyl chloride.
The United States is the largest exporter of PVC where the offshore PVC markets
have remained a significant outlet for the U.S. producers on account of its
low-cost position that provides them an edge of shipping competitiveness
globally. These two regions have almost similar market size with subdued capacities.
Global
polyvinyl chloride market comprises of large number of multinationals and
regional players. Some of the major companies include China National Chemical
Corporation, Formosa Plastics Corporation, Occidental Petroleum Corporation,
Mexichem SAB de CV, INOVYN, Saudi Plastics Products Company Ltd, LG Chem, SABIC
(Saudi Arabia Basic Industries Corporation), and Shin-Etsu Chemical Co. Ltd.
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