Polyvinyl Chloride (PVC) Market Analysis

The polyvinyl chloride (PVC) market is expected to register a CAGR of over 4% during the forecast period.

The COVID-19 outbreak has resulted in a global economic crisis. Globally, major PVC consuming industries such as automotive, electrical and electronics, and construction have been severely affected by the COVID-19 pandemic. However, the industry’s demand for PVC has surged after the epidemic, driving industry growth.

In the medium term, PVC’s dominance in the construction industry and growing application in the healthcare industry are likely to drive the PVC market.

Environmental and health hazards during the production, use, and disposal of PVC are expected to hinder the growth of the market.

The accelerated use of PVC in electric vehicles is expected to be a future market opportunity. Asia Pacific is expected to dominate the PVC market during the forecast period. China is the largest consumer of PVC in the region due to growing construction and automotive industries.

Growing demand from the construction industry.

Strong, lightweight, weather-resistant, corrosion-resistant, chemical-resistant and abrasion-resistant, PVC is versatile and easy to work with as it can be cut, formed, welded and joined in any way. These properties make it ideal for many applications such as pipes, windows, floors and roofs.

PVC flooring offers certain advantages such as durability, freedom of aesthetic effects, ease of installation, cleaning and recyclability. Therefore, PVC flooring has been used for many years. PVC is also used in the construction industry for roofing. It is used for its low maintenance requirements and durability (more than 30 years).

Rising infrastructure construction activities are the main driver in Asia Pacific, Middle East and North America.

China is the world’s largest construction market, accounting for 20% of all construction investment. According to data from the National Bureau of Statistics of China, in 2021, China’s construction industry will achieve an added value of approximately US$1.12 trillion.

The United States has one of the largest construction industries in the world. According to the U.S. Census Bureau, total residential value in 2021 was $21,730 million, a 21.8% increase from $178,362 million in 2020. This trend is expected to continue during the forecast period.

All these factors are expected to boost the PVC market at a moderate pace over the forecast period.

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