Dublin, Nov. 28, 2024 (GLOBE NEWSWIRE) -- The "Polyvinyl Chloride (PVC) Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
The global polyvinyl chloride (PVC) market reached a value of nearly $80.46 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2% since 2018. The market is expected to grow from $80.46 billion in 2023 to $98.55 billion in 2028 at a rate of 4.1%. The market is then expected to grow at a CAGR of 4.2% from 2028 and reach $120.88 billion in 2033.
Growth in the historic period resulted from the growth in the construction industry, rising industrialization and increasing demand for electrical and electronics. Factors that negatively affected growth in the historic period include high raw material prices and environmental concerns and challenges. Going forward, the growing chemical industry, growth of the automotive industry, rising urbanization and increasing expansion of oil and gas will drive the market. Factors that could hinder the growth of the polyvinyl chloride (PVC) market in the future include export restrictions and stringent regulations.
The polyvinyl chloride (PVC) market is segmented by product type into rigid PVC and flexible PVC. The rigid PVC market was the largest segment of the polyvinyl chloride (PVC) market segmented by product type, accounting for 60.9% or $48.99 billion of the total in 2023. Going forward, the flexible PVC segment is expected to be the fastest growing segment in the polyvinyl chloride (PVC) market segmented by product type, at a CAGR of 4.5% during 2023-2028.
The polyvinyl chloride (PVC) market is segmented by application into pipes and fittings, film and sheets, wire and cables, bottles, profiles, hoses and tubing, flooring, coated fabrics and other applications. The pipes and fittings market was the largest segment of the polyvinyl chloride (PVC) market segmented by application, accounting for 23.8% or $19.18 billion of the total in 2023. Going forward, the film and sheets segment is expected to be the fastest growing segment in the polyvinyl chloride (PVC) market segmented by application, at a CAGR of 5.1% during 2023-2028.
The polyvinyl chloride (PVC) market is segmented by end-use industry into building and construction, automotive, electrical and electronics, packaging, footwear, healthcare and other end-use industries. The building and construction market was the largest segment of the polyvinyl chloride (PVC) market segmented by end-use industry, accounting for 59.1% or $47.59 billion of the total in 2023. Going forward, the healthcare segment is expected to be the fastest growing segment in the polyvinyl chloride (PVC) market segmented by end-use industry, at a CAGR of 5.7% during 2023-2028.
Asia-Pacific was the largest region in the polyvinyl chloride (PVC) market, accounting for 47.7% or $38.38 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the polyvinyl chloride (PVC) market will be the Middle East and Asia-Pacific, where growth will be at CAGRs of 6.2% and 5.7% respectively. These will be followed by Africa and South America, where the markets are expected to grow at CAGRs of 4% and 3.8% respectively.
The global polyvinyl chloride (PVC) market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 30.1% of the total market in 2023. Shintech, Inc (Shin-Etsu Chemical Co Ltd) was the largest competitor with an 8.2% share of the market, followed by Westlake Corporation with 5.7%, Ineos Group HOLDINGS S.A with 3.5%, Occidental Petroleum Corporation with 3.3%, Olin Corporation with 2.5%, Formosa Plastics Corporation with 1.9%, Orbia Advance Corp. SAB de CV with 1.7%, AGC Inc with 1.3%, KEM ONE with 1.2% and Nan Ya Plastics Corporation with 0.8%.
The top opportunities in the polyvinyl chloride (PVC) market segmented by product type will arise in the rigid PVC segment, which will gain $10.4 billion of global annual sales by 2028. The top opportunities in the polyvinyl chloride (PVC) market segmented by application will arise in the films and sheets segment, which will gain $4.19 billion of global annual sales by 2028. The top opportunities in the polyvinyl chloride (PVC) market segmented by end-use industry will arise in the building and construction segment, which will gain $9.41 billion of global annual sales by 2028. The polyvinyl chloride (PVC) market size will gain the most in China at $5.85 billion.
Market-trend-based strategies for the polyvinyl chloride (PVC) market include increased focus on sustainability with introduction of carbon neutral bio-attributed PVC products, strategic partnerships and collaborations among market players, expansion of production capacities to cater to the increased demand across diverse industries, introducing new grant programs to accelerate PVC recycling efforts and increasing investments to expand into new markets.
Player-adopted strategies in the polyvinyl chloride (PVC) market include focus on strengthening business operations through project expansions, expanding business expertise through strategic investments and strengthening business operations through strategic partnerships.
To take advantage of the opportunities, the analyst recommends the polyvinyl chloride (PVC) companies to focus on developing carbon-neutral and recycled PVC products, focus on expanding CPVC production capacities, focus on accelerating PVC recycling through grant programs, focus on the flexible PVC segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships for product expansion, provide competitively priced offerings, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on the films and sheets segment and focus on the healthcare segment.
Competitive Landscape and Company Profiles
- Shintech, Inc (Shin-Etsu Chemical Co.Ltd.)
- Westlake Corporation
- Ineos Group Holdings S.a
- Company Overview
- Olin Corporation
Key Mergers and Acquisitions
- HIL Acquired Topline Industries
- Aurora Material Solutions Acquired EnCom Polymers
- Aekyung Chemical Acquired VPCHEM
- GEON Performance Solutions Acquired Polymax Thermoplastic Elastomers
- Plaskolite Acquired VYCOM
- IPEX Acquired Valencia Pipe
- Xinjiang Tianye Acquired Tianchen Chemical
- Wavin Acquired Bow Plumbing Group
- Fedrigoni Acquired Unifol
- Apollo Funds Acquired Kem One Group
- Oldcastle Infrastructure Acquired National Pipe & Plastics
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 283 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $80.5 Billion |
| Forecasted Market Value (USD) by 2033 | $120.9 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Key Topics Covered:
1 Executive Summary
1.1 Polyvinyl Chloride (PVC) - Market Attractiveness and Macro economic Landscape
2 Table of Contents
3 List of Tables
4 List of Figures
5 Report Structure
6 Market Characteristics
6.1 General Market Definition
6.2 Summary
6.3 Polyvinyl Chloride (PVC) Market Definition and Segmentations
6.4 Market Segmentation by Product Type
6.4.1 Rigid PVC
6.4.2 Flexible PVC
6.5 Market Segmentation by Application
6.5.1 Pipes and Fittings
6.5.2 Film and Sheets
6.5.3 Wire and Cables
6.5.4 Bottles
6.5.5 Profiles, Hoses and Tubing
6.5.6 Flooring
6.5.7 Coated Fabrics
6.5.8 Other Applications
6.6 Market Segmentation by End-Use Industry
6.6.1 Building and Construction
6.6.2 Automotive
6.6.3 Electrical and Electronics
6.6.4 Packaging
6.6.5 Footwear
6.6.6 Healthcare
6.6.7 Other End-Use Industries
7 Major Market Trends
7.1 Increased Focus on Sustainability With Introduction of Carbon Neutral Bio-Attributed PVC Products
7.2 Strategic Partnerships and Collaborations Among Market Players
7.3 Expansion of Production Capacities to Cater to the Increased Demand Across Diverse Industries
7.4 Introducing New Grant Programs to Accelerate PVC Recycling Efforts
7.5 Increasing Investments to Expand Into New Markets
For more information about this report visit https://www.researchandmarkets.com/r/kup2mg
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