San Francisco, 21 September
2018: According to a report by Grand View Research, Inc.; the global
polyvinyl
chloride (PVC) market is projected to reach USD 79.11 billion by 2020.
Growing requirement for cost effective and durable construction and consumer
products is anticipated to drive the market over the forecast period (2012 to
2020). Polyvinyl chloride possesses effective properties such as chemical
resistance, water resistance, and durability. These properties are likely to
fuel its demand as a raw material in numerous industrial applications. This
factor can further boost the global market in near future.
High demand for polyvinyl
chloride to manufacture consumer goods such as footwear and clothing attributed
to low cost and water resistance can fuel market growth. Increasing use of PVC
in construction products such as fencing, cables, pipes, and landfill liners is
expected to augment growth of the market in the forthcoming years. Growing
adoption in electrical wires and cables owing to superior insulation properties
can further spur the expansion of the polyvinyl chloride market during the
forecast period (2012 to 2020).
However, growing health
concerns coupled with stringent regulatory policies against the use of PVC
compounds attributed to the presence of diethylhexyl phthalate (DEHP) can hinder growth of market. In addition, health issues
related to medical grade polyvinyl chloride and its compatibility are anticipated
to encourage the use of alternative polymers such as polyethylene and
polymethyl methacrylate (PMMA) in medical devices. This factors may further
restrict the market expansion over the forecast period.
Access
Research Report of Polyvinyl
Chloride Market@ www.grandviewresearch.com/industry-analysis/polyvinyl-chloride-pvc-market
The worldwide polyvinyl
chloride market can be segregated on the basis of application and region. Based
on application, the market can be categorized into consumer goods, transportation,
packaging, construction, electrical and electronics, and others. In 2013, the construction
segment dominated the market and accounted for around 55.7% of total market share
in terms of volume. It is expected to be the largest application segment in the
forthcoming years. High demand for advanced infrastructure facilities
attributed to rapid industrialization and urbanization can fuel construction
activities in several countries of Asia Pacific and Middle East region.
In addition, the packaging
segment can witness impressive growth during the forecast period. This growth
can be attributed to rising use of polyvinyl chloride in packaging of medical
devices and apparatus. In addition, the use of PVC to pack electronic items and
other consumer products can positively influence the market development in the
forthcoming years.
The transportation segment is
estimated to display substantial growth during the forecast period owing to
increasing use of PVC in automobile interior and flooring. Thermal insulation
and acoustic properties of PVC coupled with its durability and workability can
fuel product demand. In addition, rising use of PVC to make aircraft components
such as air ducts, seat parts, window shades can also bode well for the growth
of the polyvinyl chloride market during the forecast period.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Based on region, the PVC market
can be classified into Asia Pacific, Europe, North America, Middle East &
Africa, and Central & South America. In 2013, Asia Pacific dominated the
market and accounted for nearly 58.1% of overall market share in terms of volume.
High investments in manufacturing sector, weak currency, and increasing trade
activities are expected to fuel market growth in Southeast Asian countries. Vietnam
and Indonesia are likely to be the food production hubs of Southeast Asia and would
require manufacturing facilities. High demand for PVC products as raw materials
to create such facilities is anticipated to propel regional growth in the
forthcoming years.
The Europe market for
polyvinyl chloride is expected to grow well during the forecast period. Rising
construction activities demanding electrical and electronics products are
likely to stimulate development of the regional market. In addition, high
demand for consumer goods can also impel regional market growth during the
forecast period.
The Middle East & Africa market
is projected to display significant growth during the forecast period. This
expansion is attributed to rising number of construction activities in
countries such as UAE, Qatar, and Saudi Arabia. In addition, economic growth in
Africa can also augment growth of the consumer sector, which in turn, can spur the
polyvinyl chloride market in the forthcoming years.
The Central and South America
region is expected to witness steady growth owing to increasing disposable
income in countries such as Mexico and Brazil. High demand for consumer goods
and electrical and electronic products can further foster regional market
growth during the forecast period.
Some of the leading companies
offering polyvinyl chloride are BASF, Axiall Corporation, Shin-Etsu Chemical
Co. Ltd., Mexichem S.A.B., and Formosa Plastics Group.
Access
Press Release of Polyvinyl Chloride Market@ www.grandviewresearch.com/press-release/global-polyvinyl-chloride-pvc-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment