PUBLISHER: The Business Research Company | PRODUCT CODE: 1552473
PUBLISHER: The Business Research Company | PRODUCT CODE: 1552473
Polyvinyl chloride (PVC) is a synthetic plastic polymer widely used across various industries due to its versatile properties and cost-effectiveness. PVC is produced through the polymerization of vinyl chloride monomers, resulting in a durable, flexible material that can be manufactured in both rigid and flexible forms.
The polyvinyl chloride (PVC) market consists of sales, by entities (organizations, sole traders or partnerships), of polyvinyl chloride (PVC) products that refer to synthetic plastic polymer made from the polymerization of vinyl chloride monomers. PVC is composed primarily of carbon, hydrogen and chlorine, with the chemical formula for the vinyl chloride monomer being C2H3CL.
The global polyvinyl chloride (PVC) market was valued at $72,933.4 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 1.0%.
Growth In The Construction Industry
During the historic period, the growth in the construction industry propelled the growth of the polyvinyl chloride (PVC) market. Polyvinyl chloride (PVC) is a highly durable and cost-effective material, making it an ideal choice for various construction applications. Its resistance to weathering, chemicals and corrosion, combined with its long lifespan, makes it a preferred option for many construction projects. For instance, in July 2021, according to the reports shared by the Department for Leveling Up, Housing and Communities (DLUHC), a UK-based government department, construction of residential structures and houses grew by 4% to 49,470 in the UK from 2020 to 2021. Additionally, compared to the prior year, building and construction in London significantly increased in 2021, rising by 18% to 14,530. Therefore, the growing construction industry drove the growth of the polyvinyl chloride (PVC) market.
Rising industrialization supported the growth of the polyvinyl chloride (PVC) market during the historic period. Industrialization frequently fuels the development of infrastructure, encompassing residential, commercial and industrial buildings. Polyvinyl chloride (PVC) is widely utilized in construction materials such as pipes, fittings, window frames and flooring.
Increased Focus On Sustainability With Introduction Of Carbon Neutral Bio-Attributed PVC Products
Companies operating in the polyvinyl chloride market are increasingly developing carbon-neutral bio-attributed polyvinyl chloride (PVC) products. Carbon-neutral products mitigate climate change by ensuring that they do not contribute additional greenhouse gases to the atmosphere. For instance, in December 2023, INEOS Inovyn, a UK-based company that provides PVC products, enhanced its PVC product portfolio with the introduction of several new products designed to minimize environmental impact. This new line features NEOVYN, which boasts a carbon footprint 37% lower than the industry average, offering a more sustainable option. Additionally, BIOVYN is bio-attributed PVC engineered to achieve carbon neutrality and RECOVYN is produced from 100% recycled materials. This expansion underscores INEOS Inovyn's commitment to sustainability and aligns with global objectives to reduce greenhouse gas emissions and enhance recycling initiatives. These innovative products are versatile, suitable for various industries and help customers achieve their sustainability goals while upholding high-quality standards.
The global polyvinyl chloride (PVC) market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 30.1% of the total market in 2023.
Polyvinyl Chloride (PVC) Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global polyvinyl chloride (PVC) market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for polyvinyl chloride (PVC)? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The polyvinyl chloride (PVC) market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider polyvinyl chloride (PVC) market; and compares it with other markets.