Global PVC Market is expected to reach USD 78.90 billion in 2021, growing at a CAGR of 5.6% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 02/17/2017 -- Zion Market Research has published a new report titled "Polyvinyl Chloride Market by Application ( Pipes & Fittings, Wires & Cables, Films & Sheets, Bottles and Others) For Automotive, Electrical & Electronics, Construction, Packaging And Other End-Uses: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021." According to the report, global demand for PVC was valued at USD 57.06 billion in 2015 and is expected to reach USD 78.90 billion in 2021, growing at a CAGR of 5.6% between 2016 and 2021. In terms of volume, the global polyvinyl chloride (PVC) market stood at 43662.0 kilo tons in 2015.
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PVC is a high corrosion resistant polyvinyl chloride. PVC's cost efficiency, strong and light weight, durability, fire resistant properties make it material of choice in various application. Increasing use of PVC in construction sectors across the globe is the major driving factor for the growth of PVC market.
Asia Pacific held the largest market share of the global PVC market and is set to continue to dominate the world marketplace within the forecast period. It registered over 52% of market share in 2015. Growing electrical & electronics sector in China is expected to contribute to the growth of market in coming years. PVC is mainly used for manufacturing different products that serve to the packaging and construction industry in the region.
In Europe, specifically Western Europe is expected to be most prominent market due to surging demand for film & sheets. Moreover, construction segment and electrical & electronics segment is expected to show moderate growth in the coming years.
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North America is expected to witness moderate growth of PVC product within the forecast period. Rising demand from construction segment coupled with growing demand for PVC in electrical & electronics applications are the major driving factor in this region. Rigid & flexible films are extensively used in several packaging applications like pharmaceutical packaging, food packaging, and consumer products packaging. PVC industry in this region is characterized by growing regulatory & legislative intervention in the Canada and U.S., mainly for food packaging applications.
Latin America and Middle East & Africa regions are expected to be the fastest growing regions for polyvinyl chloride market in coming years. Growth of major end-use industries such as construction, automotive and electrical & electronics in Saudi Arabia and South Africa is expected to drive the demand for PVC in Middle East regions. Increasing construction and infrastructure spending is the key driving factor for PVC market in Latin America.
Some of the key companies operative in the global polyvinyl chloride (PVC) market include KEM one, Occidental Petroleum Corporation, Finolex, Formosa Plastics Group, Shin-Etsu Chemical Co. Ltd., Solvay S.A., Axiall Corporation and Ineos Chlorvinyls Ltd amongst others.
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The report segments of global polyvinyl chloride (PVC) market as follows:
Global Polyvinyl Chloride (PVC) Market: Application Segment Analysis
-Pipes & fittings
-Wires and cables
-Film & sheets
Global Polyvinyl Chloride (PVC) Market: Type Segment Analysis
-Rigid PVC (polyvinyl chloride)
-Flexible PVC (polyvinyl chloride)
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Global Polyvinyl Chloride (PVC) Market: End User Segment Analysis
-Electrical & electronics
Global Polyvinyl Chloride (PVC) Market: Regional Segment Analysis
-Middle East and Africa
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