Portland, OR, Feb. 22, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global green polyvinyl chloride market generated $179.2 million in 2021, and is estimated to reach $290.4 million by 2031, witnessing a CAGR of 5.0% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $179.2 Million |
| Market Size in 2031 | $290.4 Million |
| CAGR | 5.0% |
| No. of Pages in Report | 245 |
| Segments Covered | Application, End Use Industry, and Region |
| Drivers | Increase in CSR activities, sustained economic growth, and growing consumer consciousness towards eco-friendly activities which led to a rapid transition towards using sustainable products in various end use sectors such as building & construction, packaging, automotive & transportation, and others |
| The increase in construction of green buildings, ecotel, and others | |
| Green polyvinyl chloride (PVC) can be manufactured from renewable sources | |
| Opportunities | Huge R&D investment to transform the innovations done in the development of highly efficient green/bio-based polyvinyl chloride materials into commercialization |
| Restraints | Cost involved in the formulation of green polyvinyl chloride (PVC) is high |
| The production of green polyvinyl chloride (PVC) requires skilled workforce |
Covid-19 Scenario:
- The COVID-19 pandemic outbreak had a negative impact on the growth of the green polyvinyl chloride market. The major end-users of green PVC such as construction, packaging, automotive, electrical & electronics, and transportation were negatively impacted due to the pandemic. The supply chain was hampered, which decreased the demand for green PVC used for producing pipes, tubes, window profiles, and others amid the pandemic.
- Also, international borders were closed by many countries for transportation and non-essential trade activities, which reduced the consumption of green polyvinyl chloride among the various end use sectors. The temporary shutdown of construction and infrastructure activities amid the crisis also reduced the consumption of green polyvinyl chloride.
- However, the green polyethylene market recovered post the COVID-19 situation due to its increased dependency on the medical, e-commerce, packaging, and other sectors. Furthermore, emerging geographic scenarios, enhanced domestic supply chain, and strong public investments are expected to drive the growth of green PVC market.
The report offers a detailed segmentation of the global green polyvinyl chloride market based on application, end use industry, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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In terms of application, the pipes segment captured the largest market share of nearly two-fifths of the global green polyvinyl chloride market in 2021 and is expected to maintain its leadership during the forecast period. The wires and cables segment is likely to achieve the fastest CAGR of 5.3% through 2031. The report also discusses the films and others segments.
Based on end use industry, the building and construction segment held the largest share in 2021, accounting for more than one-third of the global green polyvinyl chloride market and would maintain its dominance in terms of revenue through 2031. However, the packaging segment is estimated to witness the fastest CAGR of 5.3% during the forecast period. The report also discusses the transportation, electrical and electronics, and others segments.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly half of the global green polyvinyl chloride market share and is likely to maintain its leadership status during the forecast period. The same market is expected to manifest the highest CAGR of 5.7% from 2022 to 2031. The other regions analyzed in the study include North America, Europe and LAMEA.
Leading players of the global green polyvinyl chloride market analyzed in the research include Vynova Group, GERMANCARD Technologies GmbH, LG Chem Ltd., Westlake Vinnolit GmbH & Co. KG, Goldstab Organics Pvt. Ltd., GEON, Schilling Ltd., V.V. Hitech Innovations India Pvt. Ltd., Sylvin Technologies, Inc., and INEOS.
The report analyzes these key players of the global green polyvinyl chloride market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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