LONDON-(BUSINESS WIRE)-The global polyvinyl chloride (PVC) market is expected to grow at a CAGR close to 4% from 2017-2021, according to a new market research report by Technavio.
Global polyvinyl chloride market segmentation by application and geography
Technavio’s report on the global polyvinyl chloride market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application type, including pipes, profiles, and fittings, films and sheets, and cables. As projected in 2016, approximately 60% of the market share originated from the pipes, profiles, and fittings application segment.
Based on geography, the global polyvinyl chloride market has been segmented into APAC, the Americas, and EMEA. As of 2016, APAC has a market share of approximately 58%. The growth of industries such as automotive, construction and others that use PVC is going to be the top driver for this market. Almost 71% of the share in the PVC market is attributed to the construction industry. Countries such as China, India, Indonesia, and Vietnam where the construction industry is improving exponentially due to government support for economic development will help in the growth of the global polyvinyl chloride market significantly.
“As per industry prediction, the construction sector in China grew to a rate of 15%-17% in 2016. The major reason for this is the support received by the Chinese government, in the form of financial investments. Also, lenient real estate regulations and easy availability of credit/loans have boosted the nation's construction sector,” says Kshama Upadhyay, a lead analyst at Technavio for specialty chemicals research.
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Polyvinyl chloride market: competitive vendor landscape
The global polyvinyl chloride market consists of both international and local vendors such as INEOS Group Holding, LG Chem, Mexichem, Shin-Etsu Chemicals, and Westlake Chemical. With the increase in product line extensions; innovations in technology; and increasing demand from the emerging markets of APAC, the competitive environment in the market is expected to intensify during the forecast period. Vendors are competing on factors such as production cost; product innovation; price; operational cost; R&D cost; and product quality.
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Other topics covered in the report:
Market drivers:
- Growth in global infrastructure
- Vastly expanding medical devices market
Market challenges:
- Hazardous manufacturing process
- Banning of mercury cell technology
Market trends:
- Growing shale gas market
- Bio-based plasticizers for PVC
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