H2 2023: In the second half of 2023, the price of Poly Vinyl Chloride (PVC) fluctuated in Middle East & Africa. In the third quarter of 2023, fluctuations in PVC prices in the Middle East region demonstrated resilience and were influenced by the mixed downstream market conditions. In Saudi Arabia, PVC prices experienced an upward trajectory since the beginning of the third quarter, driven by increased international offtakes amid supply shortages attributed to rising upstream crude oil costs. Additionally, strong domestic demand for PVC downstream products was observed in the construction industry, aligning with the thriving construction segment and an improved PMI in September 2023 in Saudi Arabia. Price inflation for PVC rose in correlation with higher crude oil prices, exerting cost pressure on manufacturers to raise prices and transfer the cost burden to consumers. The Purchasing Managers Index (PMI) also showed signs of improvement in September 2023, reflecting a revival in business sentiments in Saudi Arabia.
H1 2023: During H1 2023, in the Middle East & Africa region, PVC prices fluctuated. The PVC price trend in Saudi Arabia experienced a decline in the second quarter of 2023 due to diminished demand in the construction sector during the Eid festive season in April 2023. Although there was a slight improvement in construction activities in May, as stated by the Chief Economist of the Riyadh Bank, this upturn was insufficient to drive PVC prices higher amid abundant supplies. Furthermore, the buying confidence in Saudi Arabia was impeded at the end of June 2023 due to sluggish offshore demand for PVC and a subdued trading atmosphere following one week of Eid holidays in the Saudi market. In addition, the economic slowdown in the region resulted in a decrease in manufacturers' and traders' purchasing enthusiasm and profit margins. These factors collectively contributed to the decline in PVC prices in the second quarter of 2023 in the region. Meanwhile, the availability of cheaper feedstock, an increase in production rates prompted market participants to adjust their prices in response to reduced input costs in Saudi Arabia throughout the quarter.
The Middle East & Africa Poly Vinyl Chloride (PVC) market demand stood at 4800 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.9% during the forecast period until 2033.
Polyvinyl chloride (PVC), a versatile synthetic polymer, plays a pivotal role in various industries, notably in conveying water supplies through plumbing and pipes. Its significance extends to waste management, where PVC's resistance to abrasion, flexibility, and corrosion makes it an ideal choice for sewer systems. In chemical handling and industrial processes, PVC's resilience to diverse chemicals, reinforced by its chlorine content, establishes it as a preferred material. As a structural element, PVC is favoured in building infrastructure, particularly in air ventilation ducts, offering a cost-effective alternative with insulation properties enhancing energy efficiency. Its thermal and electrical resistance makes PVC valuable for coatings and cable insulation, protecting electrical components. In healthcare, the inert and non-toxic nature of PVC proves essential for manufacturing transparent bags and tubing in blood banks and medical practices, highlighting its versatility across multiple sectors.
In the Middle East & Africa region, the construction industry is poised for a fast growth, propelled by various factors. Lusail City, a pioneering sustainable city and the flagship project of Qatari Diar, stands as one of the largest developments in Qatar, estimated at USD 45 billion. Spanning 38 square kilometers, it encompasses four exclusive islands and 19 multi-purpose districts for residential, mixed-use, entertainment, and commercial purposes. The United Arab Emirates' construction sector holds a promising future, driven by government initiatives such as the Energy Strategy 2050, the Sheikh Zayed Housing Program, and the Dubai Tourism Strategy. These initiatives anticipate investments in residential, energy, utility, infrastructure, and commercial construction projects, thereby fueling the demand for PVC in the forecast period. Thus, Middle East & Africa Poly Vinyl Chloride (PVC) market is likely to reach roughly 7000 thousand tonnes in 2033.
Based on the end-user industry, the Middle East & Africa 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 40% in the year 2023.
Major players in the Middle East & Africa Poly Vinyl Chloride (PVC) market are INOVYN, Africa PVC Industries Ltd, Egyptian Petrochemicals Co., LG Chem, Mexichem SAB de CV, Neproplast, Occidental Petroleum Corporation, SABIC, SASOL, 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 Poly Vinyl Chloride (PVC) which covers production, demand and supply of Poly Vinyl Chloride (PVC) market in Middle East & Africa.
• To analyse and forecast the market size of Middle East & Africa Poly Vinyl Chloride (PVC)
• To classify and forecast Middle East & Africa 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 Middle East & Africa.
To extract data for Middle East & Africa 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 Middle East & Africa Poly Vinyl Chloride (PVC) market over the coming years.
ChemAnalyst calculated Poly Vinyl Chloride (PVC) demand across the Middle East & Africa 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, Middle East & Africa 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
4800 thousand tonnes
Market size Volume by 2033
7000 thousand tonnes
Growth Rate
CAGR of 3.9% from 2024 to 2033
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2033
Quantitative units
Demand in thousand 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 Country, 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
Oman, Egypt, South Africa, Saudi Arabia, Nigeria, Iran, and Rest of MEA
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the size of Middle East & Africa Poly Vinyl Chloride (PVC) market in terms of volume in 2023?
Ans:
The size of Middle East & Africa Poly Vinyl Chloride (PVC) market has grown significantly in the historic period and reached approximately 4800 thousand 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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