H1 2023: In H1 2023, the key players in the Poly Vinyl Chloride (PVC) market were Formosa Plastics, Westlake, INOVYN, and OxyVinyls. Although, Formosa Plastics was leading across the globe based on PVC production capacity. In January 2023, Formosa Plastics had to shut down its plant in Taiwan for maintenance purposes. The maintenance shutdown lasted till the end of February 2023. Based on demand, Asia Pacific consumed the highest percentage of PVC across the globe. However, PVC prices fell during H1 2023 owing to a downward momentum from the downturn in end-user industries in the Asian nations in H1 2023. Plenty of inventories and competitive offers led to the fall in the price of PVC. The demand for PVC in the Asian markets was sluggish which included hazy demand from construction segments. The main factors impacting PVC price volatility were a significant drop in construction projects in the Asian market and widespread inventory availability in the region. In the APAC region, the lackluster demand in the construction industry resulted in lower offtakes by the pipes & fittings industries, hence affecting the PVC market. Slow offshore trading operations significantly impacted the pricing movement of PVC. China's economy's insufficient recovery shaped poor consumer buying enthusiasm in the Chinese market. Similar market behavior was observed in the European market during H1 2023. There were low offtakes in the downstream sectors like construction and pipe industries. Europe experienced bearish pricing dynamics was a steep decline in construction offers and ample availability of inventories. Meanwhile, the cheap prices of the feedstock EDC prices also supported the decline of the prices during H1 2023 across Europe.
Global Poly Vinyl Chloride (PVC) market registered a strong demand with a volume of nearly 45 million tonnes in 2022 and is expected to grow at a CAGR of about 4.77% during the forecast period.
Polyvinyl Chloride (PVC) is a versatile and affordable thermoplastic polymer. PVC has properties like flame retardance, electrical, water & heat resistance. It can withstand pressure or damage and is light weight in nature. Owing to all these properties PVC became the choice of many construction industries in applications like fencing, window frames, flooring, railing & decking.
Increasing population and urbanization are other factors which are contributing to the increased demand for PVC all around the globe. Since PVC is strong and has good resistance to moisture and abrasion, thus it is an ideal material for cladding, roofing, wall covering etc. It also holds share in packaging industry (like food, medical, & other packaging), textile and transportation as it is durable, flexible, and light weight. Clear PVC film is used in medicine packaging while rigid film is used in blister packaging to protect goods from damage during transportation. It offers superior rigidity than PET thus, can maintain a proper shape and is ideally suited for making of use and throw boxes. PVC being economical than other polymers, attracts many sectors to deploy it in their production process. PVC is also resistant to chemicals thus is used in making different types of cosmetic container. The global Poly Vinyl Chloride (PVC) market is anticipated to reach 65 million tonnes by 2030.
Based on demand by region, the Asia Pacific region is dominating the Poly Vinyl Chloride (PVC) market. In 2022, Asia Pacific held a market share of 35% of the global PVC market. Rapidly expanding electrical and electronic sector is a significant driver for the growth of PVC market in Asia Pacific region. Furthermore, Asia Pacific is the most active regions in terms of innovations and production of better-quality product to meet the demand of future market, keeping in mind the cost effectiveness. According to the export data analysis, China is found to be the leading exporter as well as producer of Poly Vinyl Chloride (PVC).
Based on the end-user industry, the global Poly Vinyl Chloride (PVC) market is segregated into Pipe and Fittings, Profiles and Tubes, Films and Sheets, Bottles, Wires and Cables, and Other end-use industries. The largest market share of PVC goes with high proportion in Pipes and Fittings about 40% in the year 2022. The Pipes and Fittings industry is followed by end uses such as Films and Sheets. PVC is a flexible and durable polymer and shows resistance to water and abrasion which is further propelling its usage for manufacturing Films and Sheets.
Major players in the production of Global Poly Vinyl Chloride (PVC) are Xinjiang Tianchen Chemical, Xinjiang Huatai Heavy Chemical, Sinopec Qilu Petrochemical, Yibin Haifing Herui, Tianjin Dagu Chemical, Anhui Huasu Co., Erdos Chemical Group ChlorAlkali Chemical, Inner Mongolia Yili Chemical, Inner Mongolia Jilantai Salt Chemical, Tangshan Chlor Alkali, Xinjiang Zhongtai Fukang Energy, Tianjin LG DAGU, and Nanning Luzhou Chemical.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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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 the globe.
• To analyse and forecast the market size of Poly Vinyl Chloride (PVC)
• To classify and forecast Global 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 the globe.
To extract data for Global 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 Global Poly Vinyl Chloride (PVC) market over the coming years.
ChemAnalyst calculated Poly Vinyl Chloride (PVC) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the demand for Poly Vinyl Chloride (PVC) by the end-user industries across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at 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 (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global 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 2022
45 million tonnes
Market size Volume by 2030
65 million tonnes
Growth Rate
CAGR of 4.77% from 2023 to 2030
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2030
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 Other)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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supply of the product in the market at a Global level.
What is the expected global market size of Poly Vinyl Chloride (PVC) in terms of volume for 2030?
Ans:
The global market size of Poly Vinyl Chloride (PVC) is expected to reach approximately 65 million tonnes by 2030, with an expected CAGR of 4.77%..
Q2.
Which end-use industry is dominating the Global Poly Vinyl Chloride (PVC) market?
Ans:
The Pipe and Fittings industry is dominating the Poly Vinyl Chloride (PVC) market with a market share of 45% in 2022.
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