Newark, NJ, May 23, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The Global polyvinyl chloride market is expected to grow from USD 67.2 billion in 2019 to USD 117.14 billion by 2027, at a CAGR of 7.2% during the forecast period 2020-2027. Asia Pacific region is leading in Polyvinyl Chloride market due to growing trade activities in Southeast Asian countries. And Middle East & Africa region is expected to grow in coming years due to increase in demand of construction activities in these regions. The growth of electrical, consumer & electronics industries are driven by increasing disposable income in countries like Mexico and Brazil.
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The Key players of polyvinyl chloride market are OxyChem, Solvay S.A., Formosa Plastic Group, Ineos Group Ltd. Etc. PVC market is expected to rise in future and high use is from automotive industry. Ineos Group Ltd. Has recently come in partnership with Agilyx to build polystyrene chemical recycling plant.
The type segment includes, flexible, rigid and others, where others segment includes, Chlorinated PVC, Modified PVC, and Oriented PVC. The Application segment includes Cables, Pastes, Pipes & fittings, Profiles, Others, including bottles and flooring. Demand for wires and cables for electrification purpose increases due to growing construction industry. Rising demand for convenience food increase the demand of plastic packaging and has a positive impact in PVC market. PVC pipes has been used from many years as they offer energy saving during production, low-cost and are durable that is, not much maintenance service is required. The change in crude oil impacts the market negatively. The End use segment includes, Transportation, Electrical cables, Construction, Packaging, others. Construction has the largest market share.
The key drivers of polyvinyl market are, expansion in construction industry which increases the use of PVC pipes & fittings. Increase in the demand for ethylene vinyl acetate. But this market faces some challenges like, reducing weight of vehicle due to enhancing fuel economy and minimizing carbon emission. Which has impacted PVC market growth, increased prices of various products and closing of facilities has reduced the supply of feedstock which can hinder the PVC market in the coming years.
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About the report:
The global polyvinyl chloride market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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