The global polyvinyl chloride market will expand at 4.2% CAGR through 2029. As indicated in a new study by Future Market Insights (FMI), the market for polyvinyl chloride is largely influenced by increasing applications in automotive, packaging, and construction industries, to meet industrial, commercial, and household end user needs.
“Premier companies in the PVC industry are undertaking R&D and expansion efforts to remain competitive in the polyvinyl chloride market by bolstering standards of innovation, quality, communication, regulatory compliance, and performance,” reveals the FMI report.
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Key Research Findings
- Pipes and fittings will remain a highly preferred end use category through the forecast period.
- The rigid form of PVC will remain a preferred variant through the forecast period driven by diverse applications including automotive and construction.
- Gains of the global polyvinyl chloride market will remain largely concentrated in the Asia Pacific.
- The United States Market will display a double digit CAGR through the end of the forecast period.
Key Market Growth Drivers
- Strong demand for PVC in the packaging, automotive, and construction industries plays a major role in the growth of market.
- High demand for PVC pipes and fittings driven by characteristics of durability and cost effectiveness contributes to the global footprint of producers.
- Extensive applications of PVC in industrial piping setups is a major area of application contributing to market growth.
- The development of alternatives for PVC products such as high-density polyethylene (HDPE) will drive adoption.
Key Market Growth Impediments
- The polyvinyl chloride market is facing increasing challenges owing to rising environmental concerns, associated with the toxic fumes associated with PVC production.
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Competition Structure Analysis – Polyvinyl Chloride Market
The competition landscape of polyvinyl chloride market remains competitive and concentrated. Key producers are also pushing for innovation and sustainability solutions through R&D activities and capacity expansion projects.
Some of the key players in the polyvinyl chloride market include, but are not limited to The Chemical Company, Formosa Plastics Corporation, Premier Polyfilm Ltd., Chinyang Chemical Co. Ltd., Occidental Petroleum Corporation, BASF SE, Saudi Plastic Products Company Ltd., Arkema S.A., and Ineos Chlorvinyls Ltd.
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