Segmented By Product Type (Rigid PVC, Flexible PVC, Low Smoke PVC, Chlorinated PVC), By Stabilizer Type (Calcium-based Stabilizers (Ca-Zn Stabilizers), Lead-based Stabilizers (Pb Stabilizers), Tin and Organotin-based Stabilizers (Sn Stabilizers), Others), By Application (Pipes & Fittings, Films & Sheets, Wires & Cables, Bottles, Others), By End User Industry (Electrical & Electronics, Healthcare, Automotive, Packaging, Others), By Region.
New York, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Polyvinyl Chloride Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" - https://www.reportlinker.com/p06362603/?utm_source=GNW
The global polyvinyl chloride market is projected to increase at an impressive rate through 2027.Polychlorethene and vinyl are other known scientific names for Polyvinyl Chloride, a high-strength thermoplastic plastic material that is an economical, durable, lightweight, and fire-resistance.
It is the third-largest thermoplastic material by volume in consumption after polyethylene and polypropylene. According to Statista, in 2018, the global production volume of PVC amounted to 44.3 million tons and is going to reach 60 million metric tons in 2025. Hence, the demand for PVC is going to increase to fulfill the increasing population need. Apart from this, PVC is widely demanded in Various sectors such as food and beverage packaging, building & construction, transportation, electrical, and healthcare application. Therefore, the increase in the population led to an increase in the demand for the product. Thus, the global polyvinyl chloride market is expected to rise in market share in the projected year.
Ongoing Construction Projects Around the Globe are Driving the Market
Everyone needs the house for safe survival.As the population rises, the demand for homes is increasing within the market.
Many construction activities are going on worldwide to ensure the fulfillment of the building demand. According to the Statista report in 2021, the market size of the construction sector as per revenue is 6.4 trillion USD in 2020 and is expected to reach twice its size up to 14.4 trillion USD in 2030. As the construction market’s growth directly impacts the PVC market, an increase in demand for the PVC market will be expected. Polyvinyl Chloride is one of them that is demanded by different industries for production or operation. Polyvinyl Chloride is used to manufacture window frames, drainage pipes, water service pipes, medical devices, blood storage bags, cable & wire insulation, resilient flooring, roofing membranes, stationary, automotive interiors & seat coverings, fashion & footwear, and packaging. The graph of demand and supply chain of PVC is growing as time moves forward due to the diverse need of industries. Hence, there will be a positive impact on the global polyvinyl chloride market share.
There are drastic changes in the lifestyle of people due to urbanization and modernization.Almost everything around human society & environment is made up of electronic goods.
PVC is one of the most preferred compounds used for making cabinets of electronic goods due to its resistance capacity. According to Statista, the global electronic product market is valued at 1.190 billion USD per revenue and is expected to grow & reach up to 1.650 billion USD in 2025. Thus, the demand for the polyvinyl market is expected to be increased to fulfill the industry’s needs and supply. PVCs are broadly used for packaging boxes of food and drinks because they are flexible and lighter in weight. Furthermore, use in medicinal packaging, industrial chemical, edible ingredient, textile compound, and other variables will propel the market share. The global Polyvinyl Chloride market is expected to increase in the forecasted year.
Side-Effect of Polyvinyl Chloride on Health is Hindering the Market Growth
Polyvinyl Chloride can be a toxic chemical if not handled safely and appropriately.It contains lead, phthalates, organotin, and cadmium which can affect the health of human beings.
Thus, the toxicity of PVC is expected to hinder the growth of the PVC market.Due to changes in global relations and war, there are considerable differences in demand and supply quantities leading to the fluctuation in prices.
But there are many alternatives that marketers use to lower the disturbance’s effect.
Increasing Efforts for Technological Development Driving the Growth
Ongoing research and development operation worldwide is driving it to sustainable development to ensure optimum and sensible use of the resources.Growing technological advancements make the manufacturer concerned about market value growth.
Rising technological advancement led to the depreciation of production costs and wastage linked with increased industries.There is a rise in the receiving funding for better development and enhancement of product from the government, and the different source is strengthening the market growth.
For example, Ethylene and chlorine are combined to create a monomer of vinyl chloride, which is non-chlorinated and safer for health.
The global polyvinyl chloride market is segmented based on product type, stabilizer type, application, and end-user industry.Based on product type, market is divided into rigid PVC, flexible PVC, low smoke PVC, and chlorinated PVC.
Based on stabilizer type, market is divided into calcium-based stabilizers (Ca-Zn stabilizers), lead-based stabilizers (Pb stabilizers), tin and organotin-based stabilizers (Sn stabilizers), and others.Based on application, market is divided into pipes & fittings, films & sheets, wires & cables, bottles, and others.
Based on end user industry, market is divided into electrical & electronics, Construction, healthcare, automotive, packaging, and others, by company.
Vestolit GmbH & Co. KG, Westlake Chemical Corporation, Formosa Plastics Corporation, INEOS Group AG, Kaneka Corporation, LG Chem Ltd., Avient Corporation, Occidental Petroleum Corporation, China National Chemical Corporation, Saudi Basic Industries Corporation are the key players operating in the Global Polyvinyl Chloride Market.
In this report, Global Polyvinyl Chloride Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Polyvinyl Chloride Market, By product type:
o Rigid PVC
o Flexible PVC
o Low Smoke PVC
o Chlorinated PVC
• Polyvinyl Chloride Market, By stabilizer type:
o Calcium-based Stabilizers (Ca-Zn Stabilizers)
o Lead-based Stabilizers (Pb Stabilizers)
o Tin and Organotin-based Stabilizers (Sn Stabilizers)
• Polyvinyl Chloride Market, By application:
o Pipes & Fittings
o Films & Sheets
o Wires & Cables
• Polyvinyl Chloride Market, By end user industry:
o Electrical & Electronics
• Polyvinyl Chloride Market, By region:
o North America
o Europe & CIS
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global polyvinyl chloride market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06362603/?utm_source=GNW
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