The Global Polyvinyl Chloride Market Growth is Accelerated by increasing usage in Construction applications

 


Polyvinyl chloride, also known as PVC, is a synthetic resin mainly used in piping, windows and doors, flooring, wires and cables, and medical devices due to its cost-effectiveness and durability properties. PVC provides excellent resistance to corrosion and chemicals along with long-lasting performance making it suitable for diverse 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 key trends:
Increasing usage of PVC in construction applications such as window frames, siding, roofing, pipes and fittings is expected to drive the market growth over the forecast period. PVC is commonly used in construction due to its durability, flexibility, weather-resistance and recyclable properties which have increased its popularity among construction companies. With growing construction industry globally due to rapid urbanization, demand for sustainable and cost-effective materials like PVC is set to rise substantially. Rapid infrastructure development activities in developing nations further supports the increasing consumption of PVC in building and construction projects.
Segment Analysis
The global polyvinyl chloride (PVC) market is dominated by the pipes and fittings segment. This segment accounts for over 30% of the total market share as PVC is extensively used in the construction industry for pipes, fittings, window frames and doors owing to its resistance to moisture, chemical stability and durability. The pipes and fittings segment is followed by the films and sheets segment which finds application in flooring, wall coverings, signage and packaging.

Key Takeaways
The global polyvinyl chloride (PVC) market is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis

Asia Pacific dominates the global PVC market with a share of over 50% and is expected to continue its dominance during the forecast period. This can be attributed to the robust construction activity and infrastructure development projects ongoing in countries such as China and India. Rapid industrialization and urbanization are driving the demand for PVC in the region.

Key players

Key players operating in the polyvinyl chloride (PVC) market include 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. ChemChina dominates the global PVC market owing to its large production capacities and wide distribution network across Asia Pacific and Europe.

Comments

Post a Comment

Popular posts from this blog

Blowing Agents in Action: Enhancing Sustainability and Performance in Modern Engineering

Image
  Blowing Agents: Unleashing the Power of Expansion in Materials Blowing agents are a remarkable class of chemical compounds that play a pivotal role in various industries, revolutionizing the way materials are manufactured and utilized. These agents are essential additives employed to induce controlled expansion in materials, leading to the creation of diverse products with unique properties and applications. From lightweight foams in packaging to insulating materials and beyond, blowing agents have become indispensable in modern manufacturing processes. 1. Understanding Blowing Agents: Blowing agents are substances designed to generate gas when subjected to specific conditions, such as heat, pressure, or chemical reactions. The produced gas forms bubbles within the material matrix, resulting in a cellular structure with reduced density. This cellular structure not only imparts lightness to the material but also enhances its thermal and acoustic insulation properties. 2. Versatile Ap
Read more

Multi-Depth Corrugated Box Market Trends 2023 - Industry Insights, Competition Analysis, Growth Rate and Forecast by 2030

Image
  A multi-depth corrugated box is a type of shipping or storage box that has the ability to be adjusted to different depths, allowing for greater flexibility and efficiency in packaging and shipping. This type of box is made of corrugated cardboard, which consists of a fluted layer sandwiched between two flat layers. Multi-depth corrugated boxes are typically made with a series of perforations or scores that allow the box to be easily adjusted to different depths. For example, a box with a height of 10 inches might have perforations at 2-inch intervals, allowing it to be adjusted to a depth of 2 inches, 4 inches, 6 inches, 8 inches, or 10 inches, depending on the specific needs of the user. The advantages of using multi-depth corrugated boxes include reduced inventory costs, improved packing efficiency, and better use of storage space. By using a single box that can be adjusted to different depths, businesses can reduce the number of different box sizes they need to stock and simplify
Read more

Distributed Generation Market 2023, In-depth Forecast and Size Estimation, Highlights Growth, CAGR Status, and Revenue till 2030

Image
  Distributed generation refers to the generation of electricity from multiple small-scale power sources located near the end-users or within the electricity distribution system, as opposed to relying solely on large centralized power plants. It is also known as decentralized generation or on-site generation. In a traditional electricity system, power is generated at centralized power plants, transmitted over long distances through the transmission grid, and then distributed to consumers through the distribution grid. In a distributed generation system, however, electricity is generated closer to the point of consumption, reducing the need for extensive transmission and distribution infrastructure. Distributed generation can involve various technologies, including: • Solar Photovoltaic (PV) Systems: These systems convert sunlight directly into electricity using solar panels. •Wind Turbines: Small-scale wind turbines can be installed to harness wind energy and generate electricity. • C
Read more