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Polyvinyl Chloride Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report covers Growth of PVC Industry and PVC Production by Country. The market is segmented by product type (rigid PVC (clear rigid PVC and non-clear rigid PVC), flexible PVC (clear flexible PVC and non-clear flexible PVC), low-smoke PVC, and chlorinated PVC), stabilizer type (calcium-based stabilizers, lead-based stabilizers, tin, and organotin-based stabilizers, and barium-based and other stabilizers), application (pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses, and tubings, and other applications), end-user industry (building and construction, automotive, electrical and electronics, packaging, footwear, healthcare, and other end-user industries), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Polyvinyl Chloride in terms of volume (kiloton) for all the above segments.

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Polyvinyl Chloride (PVC) Market Size

PVC Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Polyvinyl Chloride (PVC) Market Major Players

*Disclaimer: Major Players sorted in no particular order

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 resulted in an economic crisis worldwide. Globally, the major PVC-consuming industries, like automotive, electrical and electronics, and building and construction, were severely affected by the COVID-19 pandemic. However, the surging demand for PVC in post-pandemic industries propelled industry growth.

  • Over the medium term, PVC's dominant position in the construction industry and the increasing applications in the healthcare industry are likely to drive the PVC market.
  • The environmental and health hazards during PVC production, usage, and disposal are projected to hinder the market's growth.
  • The accelerating PVC usage in electric vehicles is projected to act as an opportunity for the market in the future.
  • Asia-Pacific is expected to dominate the PVC market during the forecast period. China is the largest consumer of PVC within the region, owing to the growing construction and automotive industry.

Polyvinyl Chloride (PVC) Market Trends

This section covers the major market trends shaping the Polyvinyl Chloride (PVC) Market according to our research experts:

Increasing Demand from the Building and Construction Industry

  • PVC is strong, lightweight, durable against weather, rotting, chemical corrosion, and abrasion, versatile, and easy to use, as it can be cut, shaped, welded, and joined in any style. These characteristics make it ideal for many applications, such as pipes, windows, flooring, and roofing.
  • PVC flooring includes certain benefits, such as durability, freedom of aesthetic effects, ease of installation, cleaning, and recyclability. Thus, PVC flooring is used over the years. PVC is also used in roofing in the building and construction industry. It is used for its low-maintenance requirements and long-lasting nature (over 30 years).
  • The increasing infrastructure construction activities are the primary driver in Asia-Pacific, the Middle East, and North America.
  • China is the largest construction market globally, encompassing 20% of all construction investments. According to the National Bureau of Statistics of China, in 2021, the construction industry in China generated an added value of approximately USD 1.12 trillion.
  • The United States is one of the world's largest construction industries. In 2021, according to the US Census Bureau, the total value of residential housing was USD 217,30 million, up by 21.8%, compared to USD 178,362 million in 2020. This trend is expected to continue during the forecast period.
  • All such factors are expected to boost the PVC market at a moderate rate during the forecast period.
Polyvinyl Chloride (PVC) Market - Construction Industry, in USD Billion, in China, 2018-2021

Asia-Pacific to Dominate the Market

  • Asia-Pacific dominates the polyvinyl chloride market due to the high demand from countries such as India, Japan, and China.
  • China includes the most extensive electronics production base. It offers tough competition to the existing upstream producers, like South Korea, Singapore, and Taiwan. Electronic products, such as smartphones, OLED TVs, and tablets, witnessed the highest growth in the consumer electronics segment.
  • The medical device market in China is one of the fastest-growing sectors. Private hospitals in the country are fewer, and the procurement of healthcare products is majorly driven by large public hospitals, leading to increasing usage of medical devices in public hospitals. Such factors drove the sector's demand for polyvinyl chloride (PVC).
  • In 2021, the health expenditure in China was USD 1.10 trillion, accounting for 6.7% of the country's GDP. Additionally, in 2021, the per capita health expenditure level amounted to about USD 780, which increased from around USD 733 in the previous year. The medical device market in China witnessed substantial growth due to a growing number of hospitals and the increasing demand for medical assistance.
  • The Government of India is taking several measures to promote the country's domestic electronics manufacturing industry and exports. For instance, India's exports of electronic goods were valued at USD 11.7 billion in FY 2021. In May 2021, exports of electronic goods were valued at USD 950.17 million. This growth in electronic products in the country will likely propel the demand for polyvinyl chloride (PVC) in the electronic industry over the forecast period.
  • The Indian healthcare market may increase to reach USD 367 billion by 2023. India's public expenditure on healthcare stood at 2.1% of GDP in 2021-22 against 1.8% in 2020-21. In Union Budget 2022-23, USD 11.28 billion was allocated to the Ministry of Health and Family Welfare (MoHFW).
  • Such factors are expected to boost the polyvinyl chloride (PVC) market in the Asia-Pacific region.
Polyvinyl Chloride (PVC) Market - CAGR by Region, 2022-202

Polyvinyl Chloride (PVC) Industry Overview

The polyvinyl chloride market is highly fragmented among the top five players. The top companies have focused on providing better materials for various end-user industries. Major PVC manufacturers are Formosa Plastics Corporation, Shin-Etsu Chemical Co. Ltd, Westlake Chemical Corporation, INEOS, and Xinjiang ZhongtaiChemical Co. Ltd., among others (not in any particular order).

Polyvinyl Chloride (PVC) Market Leaders

  1. Westlake Chemical Corporation

  2. Ineos

  3. Shin-etsu Chemicals Limited

  4. Formosa Plastics Corporation

  5. Xinjiang Zhongtai Chemical Co. Ltd

*Disclaimer: Major Players sorted in no particular order

Polyvinyl Chloride (PVC) Market Concentration
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Polyvinyl Chloride (PVC) Market News

  • August 2022: Continental is to use BIOVYN, bio-attributed PVC, from INOVYN to produce its technical and decorative surface materials for its automotive customers. The agreement will help to reduce its carbon footprint and meet customer demand for sustainable bio-based products.
  • January 2021: Shintech announced a capital investment of USD 1.25 billion to bolster its integrated PVC business, Shin-Etsu Chemical Co. Ltd, which will further boost the production of Shintech Inc.'s capacity, its US subsidiary. Shintech's PVC production capacity is expected to reach 3.62 million metric tons annually.
  • January 2021: Orbia planned to sell its PVC Unit due to demand constraints. However, the final decision on the divestment is yet to be officially revealed.

Polyvinyl Chloride (PVC) Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Application in the Healthcare and Medical Devices Industries

      2. 4.1.2 Increasing Demand from the Construction Industry

    2. 4.2 Restraints

      1. 4.2.1 Hazardous Impact on Humans and the Environment

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Product Type

      1. 5.1.1 Rigid PVC

        1. 5.1.1.1 Clear Rigid PVC

        2. 5.1.1.2 Non-clear Rigid PVC

      2. 5.1.2 Flexible PVC

        1. 5.1.2.1 Clear Flexible PVC

        2. 5.1.2.2 Non-clear Flexible PVC

      3. 5.1.3 Low-smoke PVC

      4. 5.1.4 Chlorinated PVC

    2. 5.2 Stabilizer Type

      1. 5.2.1 Calcium-based Stabilizers (Ca-Zn Stabilizers)

      2. 5.2.2 Lead-based Stabilizers (Pb Stabilizers)

      3. 5.2.3 Tin and Organotin-based (Sn Stabilizers)

      4. 5.2.4 Barium-based and Other Stabilizer Types (Liquid Mixed Metals)

    3. 5.3 Application

      1. 5.3.1 Pipes and Fittings

      2. 5.3.2 Film and Sheets

      3. 5.3.3 Wire and Cables

      4. 5.3.4 Bottles

      5. 5.3.5 Profiles, Hoses, and Tubings

      6. 5.3.6 Other Applications

    4. 5.4 End-user Industry

      1. 5.4.1 Building and Construction

      2. 5.4.2 Automotive

      3. 5.4.3 Electrical and Electronics

      4. 5.4.4 Packaging

      5. 5.4.5 Footwear

      6. 5.4.6 Healthcare

      7. 5.4.7 Other End-user Industries

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. 5.5.1.1 China

        2. 5.5.1.2 India

        3. 5.5.1.3 Japan

        4. 5.5.1.4 South Korea

        5. 5.5.1.5 Rest of Asia-Pacific

      2. 5.5.2 North America

        1. 5.5.2.1 United States

        2. 5.5.2.2 Canada

        3. 5.5.2.3 Mexico

      3. 5.5.3 Europe

        1. 5.5.3.1 Germany

        2. 5.5.3.2 United Kingdom

        3. 5.5.3.3 Italy

        4. 5.5.3.4 France

        5. 5.5.3.5 Spain

        6. 5.5.3.6 Rest of Europe

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle-East and Africa

        1. 5.5.5.1 Saudi Arabia

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ChemChina

      2. 6.4.2 Formosa Plastics Corporation

      3. 6.4.3 Ineos

      4. 6.4.4 Inner Mongolia Junzheng Energy & Chemical Group

      5. 6.4.5 Kem One SaS

      6. 6.4.6 LG Chem

      7. 6.4.7 Orbia

      8. 6.4.8 Occidental Petroleum Corporation

      9. 6.4.9 SABIC

      10. 6.4.10 Shaanxi Coal and Chemical Industry Group

      11. 6.4.11 Shin-Etsu Chemical Co. Ltd

      12. 6.4.12 Tianye Group

      13. 6.4.13 Westlake Chemical Corporation

      14. 6.4.14 Xinjiang Zhongtai Chemical Co. Ltd

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Recycled PVC

    2. 7.2 Accelerating Usage in Electric Vehicles

**Subject to Availability
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Polyvinyl Chloride (PVC) Industry Segmentation

Polyvinyl chloride (PVC) is a high-strength thermoplastic material widely used in various applications, such as pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses, and tubings. The market is segmented by product type, stabilizer type, application, end-user industry, and geography. The polyvinyl chloride (PVC) market is segmented by product type into rigid PVC, flexible PVC, low-smoke PVC, and chlorinated PVC. The polyvinyl chloride (PVC) market is segmented by stabilizer type, which contains calcium-based stabilizers, lead-based stabilizers, tin- and organotin-based stabilizers, and barium-based and other stabilizers. Applications, including pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses and tubings, and other applications, further segment the market. End-user industries, like building and construction, automotive, electrical and electronics, packaging, footwear, healthcare, and other end-user industries, segment the market. The report also covers the market size and forecast for the polyvinyl chloride market in 16 countries across major regions. The market sizing and forecast for each segment are given by volume (kiloton).

Product Type
Rigid PVC
Clear Rigid PVC
Non-clear Rigid PVC
Flexible PVC
Clear Flexible PVC
Non-clear Flexible PVC
Low-smoke PVC
Chlorinated PVC
Stabilizer Type
Calcium-based Stabilizers (Ca-Zn Stabilizers)
Lead-based Stabilizers (Pb Stabilizers)
Tin and Organotin-based (Sn Stabilizers)
Barium-based and Other Stabilizer Types (Liquid Mixed Metals)
Application
Pipes and Fittings
Film and Sheets
Wire and Cables
Bottles
Profiles, Hoses, and Tubings
Other Applications
End-user Industry
Building and Construction
Automotive
Electrical and Electronics
Packaging
Footwear
Healthcare
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Polyvinyl Chloride (PVC) Market Research FAQs

The Polyvinyl Chloride (PVC) Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Westlake Chemical Corporation, Ineos, Shin-etsu Chemicals Limited, Formosa Plastics Corporation and Xinjiang Zhongtai Chemical Co. Ltd are the major companies operating in the Polyvinyl Chloride (PVC) Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Polyvinyl Chloride (PVC) Market.

The report covers the Polyvinyl Chloride (PVC) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polyvinyl Chloride (PVC) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

PVC Industry Report

Statistics for the 2024 PVC market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. PVC analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

PVC Market Report Snapshots

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Polyvinyl Chloride Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)