The global polyvinyl chloride (PVC) market is expected to reach USD 79.11 billion by 2020, according to a new study by Grand View Research, Inc. Increasing construction and infrastructure spending in emerging markets of Asia Pacific and Latin America is expected to remain a key driving factor for global PVC demand. In addition, growth of global automotive industry is also expected to have a positive influence on the market. Volatile raw material prices coupled with the stringent regulatory scenario, particularly in North America and Europe to limit or minimize PVC use for medical applications are expected to remain key challenges for market participants. In order to overcome such challenges, the industry has shifted its focus towards developing bio-based alternatives to PVC which is expected to provide future opportunities for market participants.
Construction emerged as the leading application segment and accounted for 55.7% of the total market volume in 2013. Increasing construction spending in BRICS nations on account of organization of global events such as FIFA World Cup and Summer Olympics in these nations is expected to drive the demand for PVC in construction industry. Electrical & electronics is expected to be the fastest growing application segment at an estimated CAGR of 5.4% from 2014 to 2020. Growth of Chinese and Taiwanese electronics industry is expected to spur growth for PVC in electrical & electronics industry.
Request a Sample Copy of the Global Polyvinyl Chloride (PVC) Market Research Report @ https://www.grandviewresearch.com/industry-analysis/polyvinyl-chloride-pvc-market/request/rs1
Further key findings from the study suggest:
- Global PVC demand was 38.50 million tons in 2013 and is expected to reach 53.81 million tons by 2020, growing at a CAGR of 5.0% from 2014 to 2020.
- Asia Pacific emerged as the leading regional market for PVC and accounted for 58.1% of total market volume in 2013. Growth of construction industry, particularly in China, India and Indonesia is expected to drive PVC demand in the region.
- Middle East & Africa is expected to be the fastest growing region for polyvinyl chloride market at an estimated CAGR of 5.9% from 2014 to 2020. Growth of major end-use industries such as construction, automotive and electrical & electronics in Saudi Arabia and South Africa is expected to drive the demand for PVC in this region.
- Some of the major companies in operating in the global PVC market include Shin-Etsu Chemical Co. Ltd., Formosa Plastics Group, Axiall Corporation, Mexichem S.A.B., BASF, Georgia Gulf Corp., Arkema S.A., and Westlake Chemica Corp, Sinopec Group, Solvay S.A., KEM One and Xinjiang Zhongtai Chemical Co. Ltd.
Have Any Query? Ask Our Experts@ https://www.grandviewresearch.com/inquiry/592/ibb
Grand View Research has segmented the polyvinyl chloride (PVC) market on the basis of application and region:
Global Polyvinyl Chloride Application Outlook (Volume, Million Tons; Revenue, USD Million, 2012 – 2020)
- Consumer Goods
- Electrical & Electronics
Global Polyvinyl Chloride Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2012 – 2020)
- North America
- Asia Pacific
- Middle East & Africa
- Central & South America
Browse Related Reports @
Thermoform Packaging Market: https://www.grandviewresearch.com/industry-analysis/thermoform-packaging-market
Hermetic Packaging Market: https://www.grandviewresearch.com/industry-analysis/hermetic-packaging-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
Country: United States