H2 2023: During H2 2023, in the Europe region, PVC prices fluctuated. During the third quarter of 2023, Polyvinyl Chloride (PVC) prices in Europe market exhibited a downward trend. The construction industry's challenges in August, driven by high interest rates, had initially impacted PVC consumption in the first half of the quarter. Upstream EDC prices increased adding cost pressures for PVC producers. In August, the inflation complicated production rate but despite these challenges, PVC sellers in September 2023 experienced a bullish sentiment. While the market initially lacked strong buying incentives, the need for restocking and attractive import prices reignited buying interest. In contrast, the PVC market witnessed marginal changes in September 2023 prices due to steady downstream demand, consistent international inquiries, and low inventory levels. The buyers adopted a wait-and-see approach, prompted producers to reduce inventories at lower profit margins. Economic and geopolitical uncertainties, along with tightening financial conditions, stifled demand, resulting in a gradual decline in the economic sentiment index across Europe.
H1 2023: In the first half of 2023, the price of Poly Vinyl Chloride (PVC) fluctuated in Europe. In March 2023, Spolana S.R.O had their site in Neratovice, Czechia, temporarily shut down for maintenance purposes. In Q2 2023, PVC prices in Europe experienced a downturn, primarily influenced by diminished offtakes in downstream sectors, particularly in construction and irrigation. The significant factor impacting the pricing dynamics of PVC was the substantial decline in construction offers and the ample availability of inventories. This trend was exacerbated by an increase in interest rates, which, in turn, restrained consumer spending throughout the quarter. Market players, in response to these challenges, closely monitored market conditions and implemented strategies to navigate the period of decline. These strategies included reducing production rates, focusing on cost balance, and maintaining a stable supply chain. Additionally, the reduction in feedstock EDC prices further contributed to the overall decline in PVC prices during this timeframe. The global economic slowdown, characterized by constrained investment, escalating debt vulnerabilities, and funding shortages in the regional market, conclusively led to a diminished demand for PVC in the construction sector. As a result, PVC prices witnessed a large decline in June 2023.
The Europe Poly Vinyl Chloride (PVC) market demand stood at 11.8 million tonnes in 2023 and is expected to grow at a CAGR of 2.9% during the forecast period until 2033.
Polyvinyl chloride (PVC), a versatile polymer with synthetic properties, plays a crucial role in diverse industries, most notably in water plumbing and pipes where it efficiently conveys water supplies to buildings. Its prominence extends to waste handling and control, where PVC's resistance to abrasion, flexibility, and corrosion makes it an optimal choice for sewer systems and drains. In chemical handling and industrial processes, PVC's resilience against various chemicals, bolstered by its chlorine content, positions it as a preferred material. As a structural component, PVC finds favour in building infrastructure, particularly in air ventilation ducts, offering a cost-effective alternative with insulation properties that contribute to energy efficiency. Its thermal and electrical resistance makes PVC valuable for coatings and cable insulation, safeguarding electrical components. In healthcare, PVC's inert and non-toxic nature is indispensable for manufacturing transparent bags and tubing in blood banks and medical practices, showcasing its versatility and essential role across multiple sectors.
In Europe, the construction industry is expected to experience moderate growth, driven by several key factors. One significant contributor to this growth is the demand for housing. Furthermore, the construction of roads and bridges plays a pivotal role in the development and connectivity of the region. Investment in infrastructure projects, such as road and bridge construction, is a driving force behind the industry's expansion. Overall, the moderate growth in the European construction industry is a result of a balanced combination of residential, infrastructure, and institutional projects. The construction sector's responsiveness to societal needs and economic demands positions it as a significant contributor to the region's development and progress. Germany stands as the largest economy in Europe. The primary driver of its economic prowess lies in the automotive industry. A notable boost in the public transport consumption rate is anticipated to fuel growth not only in the automotive sector but also in construction and the electrical and electronics industries. This surge in demand aligns with the accelerating expansion of the Polyvinyl Chloride (PVC) market. The interplay between increased public consumption and sector-specific growth signifies a positive trend, offering opportunities for development and investment in key areas. Thus, Europe Poly Vinyl Chloride (PVC) market is likely to reach roughly 11 million tonnes in 2033.
Based on the end-user industry, the Europe Poly Vinyl Chloride (PVC) market is segmented into Pipe and Fittings, Profiles and Tubes, Films and Sheets, Bottles, Wires and Cables, and Others. The largest market share of PVC goes with high proportion in Pipes and Fittings about 38% in the year 2023.
Major players in the Europe Poly Vinyl Chloride (PVC) market are Solvay, Spolana S.R.O., INEOS, and Vinnolit GmbH. Other global players include Aurora Plastics LLC, Formosa Plastics Corporation, Ineos, LG Chem, Occidental Petroleum Corporation, Orbia (Mexichem SAB de CV), SABIC, Shin-Etsu Chemical Co. Ltd., Westlake Corporation. and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2033
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Objective of the Study:
• To assess the demand-supply scenario of Europe Poly Vinyl Chloride (PVC) which covers production, demand and supply of Poly Vinyl Chloride (PVC) market in Europe.
• To analyse and forecast the market size of Europe Poly Vinyl Chloride (PVC)
• To classify and forecast Europe Poly Vinyl Chloride (PVC) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Poly Vinyl Chloride (PVC) market in Europe.
To extract data for Europe Poly Vinyl Chloride (PVC) market, primary research surveys were conducted with Poly Vinyl Chloride (PVC) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Europe Poly Vinyl Chloride (PVC) market over the coming years.
ChemAnalyst calculated Poly Vinyl Chloride (PVC) demand across the Europe region by analysing the volume of Poly Vinyl Chloride (PVC) consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Poly Vinyl Chloride (PVC) manufacturers and other stakeholders
• Organizations, forums and alliances related to Poly Vinyl Chloride (PVC) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Poly Vinyl Chloride (PVC) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Europe Poly Vinyl Chloride (PVC) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
11.8 million tonnes
Market size Volume by 2033
15.8 million tonnes
Growth Rate
CAGR of 2.9% from 2024 to 2033
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2033
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2033
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Pipe and Fittings, Profiles and Tubes, Films and Sheets, Bottles, Wires and Cables, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Germany, Italy, Spain, France, Belgium, Sweden, the United Kingdom, Russia, and the Rest of Europe
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What was the size of Europe Poly Vinyl Chloride (PVC) market in terms of volume in 2023?
Ans:
The size of Europe Poly Vinyl Chloride (PVC) market has grown significantly in the historic period and reached approximately 11.8 million tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Poly Vinyl Chloride (PVC)?
Ans:
Pipe and Fittings industry is the leading consumer of Poly Vinyl Chloride (PVC).
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