Global Polyvinyl Chloride (PVC) Market 2017-2021
About Polyvinyl Chloride (PVC)
Polyvinyl Chloride(PVC) is a synthetic resin manufactured by polymerizing vinyl chloride. It is used in many applications such as pipes and fitting, flooring, sheeting, cables, and others. The rigid form PVC drives the global commodity plastics market, as it is extensively used in pipe construction and profile applications including windows and doors. It is also used in the making of bottles, packaging (non-food), and membership or ATM cards.
Technavio’s analysts forecast the global polyvinyl chloride (PVC) market to grow at a CAGR of 3.74% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global polyvinyl chloride (PVC) market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Polyvinyl Chloride (PVC) Market 2017-2021
Technavio recognizes the following companies as the key players in the global polyvinyl chloride (PVC) market: INEOS Group Holdings, LG Chem, Mexichem, Shin-Etsu Chemical, and Westlake Chemical.
Other Prominent Vendors in the market are: AVI Global Plast, Chemplast Sanmar, Formosa Plastics, JM EAGLE, Kaneka Corporation, Occidental Petroleum Corporation, PolyOne, Reliance Industries, SABIC, Vi-Chem Corporation, and Xinjiang Zhongtai Chemical.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing shale gas market. The refracturing of shale wells is being done with the application of the newest technology to older wells. Hence, it increases the production of shale gas without incurring the costs of a new well. An abundance of shale gas resources in the US helps the production of low-cost ethylene, which is a major raw material used in the production of PVC.”
According to the report, one driver in the market is growth in global infrastructure. The global infrastructure sector is expected to witness a steady 5.5% CAGR during the forecast period. Based on geography, APAC will be the major player, where China will be spearheading the market with almost 28% contribution. India and other developing Asian countries will also be contributing to the growth of the APAC market. Electricity and power projects will lead the infrastructure expenditure, followed by railways; road projects; airports and docks; and water and sewage projects. Thus, the growth of various infrastructure activities will enable and increase the demand for global PVC market.
Further, the report states that one challenge in the market is hazardous manufacturing process. The manufacturing process; use; and disposal of PVCs releases pollutants such as vinyl chloride; EDC; mercury; dioxins; and furans, which are not only toxic, but can cause cancer; birth defects; and other chronic diseases. PVC products contain toxic chemical additives such as phthalates, lead, cadmium, and organotins. Over 80% of the countries across the world are for the ban on dioxins and furans, released during PVC disposal. Thus, the manufactures must come up with new and safe methods of production, which might up the research and development (R&D) costs.
INEOS Group Holdings, LG Chem, Mexichem, Shin-Etsu Chemical, and Westlake Chemical, AVI Global Plast, Chemplast Sanmar, Formosa Plastics, JM EAGLE, Kaneka Corporation, Occidental Petroleum Corporation, PolyOne, Reliance Industries, SABIC, Vi-Chem Corporation, and Xinjiang Zhongtai Chemical.