According to Stratistics MRC, the Global Polyvinyl Chloride (PVC) market is expected to reach around $85 billion by 2022 growing at a CAGR of 6.2% during the forecast period. The factors contributing to the market growth include increasing construction and infrastructure spending in emerging markets. Furthermore, huge growth in automotive industry is expected to stimulate the market.
However, unstable raw material prices and the strict government regulations, mainly in North America and Europe are the key challenges faced by the market. Electrical & electronics market is likely to be the fastest growing application segment due to growing Chinese and Taiwanese electronics industry.
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The construction industry was the major end user segment using polyvinyl chloride products accounting for around 70% of the global Polyvinyl Chloride consumption. The rising demand of wood plastic composites and electric vehicles are the key opportunities in the Polyvinyl Chloride market. Asia Pacific has the major market due to high growth potential of construction industry. China was the major consumer in Asia-Pacific, accounting for more than half of the total regional consumption.
Some of the key players in the global Polyvinyl Chloride (PVC) market include Arkema, Braskem S.A, Chemplast Sanmar Limited, Axiall Corporation, Shin-Etsu Chemical Co. Ltd., BASF, Solvay S.A, Formosa Plastics Group, Westlake Chemica Corp, Georgia Gulf Corp, Occidental Petroleum Corporation, Xinjiang Zhongtai Chemical Co. Ltd, Ineos Chlorvinyls Ltd, KEM one, and Mexichem S.A.B.
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End-Use Industries Covered:
Wire and Cable Coatings
Electrical & Electronics
Furniture and Clothing
o Rest of Europe
o New Zealand
o Rest of Asia Pacific
Rest of the World
o Middle East
o South Africa
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