The Asia Pacific polyvinyl chloride (PVC) market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 4.5% during 2023–2031. The growth of the market is attributed to the rising use of PVC in the construction industry.
PVC is a synthetic resin, produced from the polymerization of the vinyl chloride. It is the third most widely produced synthetic plastic polymer. The synthetic resin is classified as thermoplastic resins and thermosetting resins.
PVC exhibits high tensile strength and flame resistant, and eases the processing and blending. This results its usage in numerous end-user industries such as automotive, electrical & electronics, building & construction, packaging, and footwear.
Vinyl monomer is manufactured from ethylene and chlorine. Monomers are converted to polymer by catalytic action, while polymer is compounded by additives, and compounded PVC is used to produce finished products. Usage of high-performance plastics to reduce the vehicle weight and enhance the fuel economy is driving the consumption of PVC.
Market Drivers, Restraints, Trends, and Opportunities
Growing demand from the construction industry owing to rapid urbanization is expected to propel the market growth.
Rising application of PVC in the healthcare industry is anticipated to spur the growth of the market.
Hazardous impact of PVC on environment can restrain the market growth.
Expanding use of electric vehicles and increasing PVC recycling are expected to create lucrative opportunities in the projected timeline.
Scope of Polyvinyl Chloride (PVC) Market Report
The report on the Asia Pacific Polyvinyl Chloride PVC Market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Polyvinyl Chloride PVC Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
Products (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), Stabilizers (Calcium-based Stabilizers, Lead-based Stabilizers, Tin and Organotin-based Stabilizers, and Barium-based and Others), Applications (Pipes and Fittings, Films and Sheets, Wires and Cables, Bottles, Profiles, Hoses and Tubings, and Others), End-user Industries (Building and Construction, Automotive, Electrical and Electronics, Packaging, Footwear, Healthcare, and Others)
China, India, Japan, South Korea, and Rest of Asia Pacific
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Formosa Plastics Corporation, Xinjiang Tianye, East Hope Group, LG Chem, and China National Chemical Corporation (ChemChina)
Asia Pacific Polyvinyl Chloride PVC Market Segment Insights
Flexible PVC segment to account a large market share
Based on type, the market is divided as rigid PVC, flexible PVC, low-smoke PVC, and chlorinated PVC. The rigid PVC segment is further segmented into clear rigid PVC and non-clear rigid PVC. The flexible PVC segment is divided into clear flexible PVC and non-clear flexible PVC. The flexible PVC segment is projected to account for a large market share during the forecast period. Increasing use of flexible PVC in various industries is driving the growth of the market segment.
Calcium-based stabilizers segment to account a significant market share
Based on stabilizers, the market is classified as calcium-based stabilizers, lead-based stabilizers, tin and organotin-based stabilizers, and barium-based and others. The calcium-based stabilizers segment is projected to account for a significant market share during the forecast period. The sustained stability offered by calcium-based stabilizers is expected to fuel the market growth.
Pipes and fittings segment to exhibit a high CAGR
Based on applications, the market is categorized as pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses and tubings, and others. The pipes and fittings segment is projected to exhibit a high CAGR during the forecast period. Rising use of pipings and fittings in building, construction, chemical, and energy industries is fostering the market segment. Pipes and fittings are widely used in fluid transport for lifting, transporting, distributing and disposing.
Building and Construction segment to account a considerable market share
Based on end-user industries, the market is segregated into building and construction, automotive, electrical and electronics, packaging, footwear, healthcare, and other end-users. The building and construction segment is projected to account for a considerable market share during the forecast period. Rising population, increasing middle-class income, and rapid urbanization are driving the growth of the market segment.
China to dominate the market
Based on geographies, the market is segmented into China, India, Japan, South Korea, and Rest of Asia Pacific. China is projected to dominate the market during the forecast period. In recent times, China has become a global industrial and manufacturing hub. The market in China is expected to grow at a significant rate during the forecast period. Increasing per-capita income of the middle-class population is fueling the growth of the market in the country.
China has planned many infrastructural projects, such as the Belt and Road Initiative, as well as infrastructure projects, such as the development of airport (new Beijing airport), roads (30,000 km of highways, with bridges built or upgraded), and 30,000 km of high speed rail covering, which is expected to cover more than 80 cities.
The Asia Pacific polyvinyl chloride (PVC) market has been segmented on the basis of
- Rigid PVC
- Clear rigid PVC
- Non-clear rigid PVC
- Flexible PVC
- Clear Flexible PVC
- Non-clear Flexible PVC
- Low-smoke PVC
- Chlorinated PVC
- Calcium-based Stabilizers
- Lead-based Stabilizers
- Tin and Organotin-based Stabilizers
- Barium-based and Others
- Pipes and Fittings
- Films and Sheets
- Wires and Cables
- Hoses and Tubings
- Other Applications
- Building and Construction
- Electrical and Electronics
- South Korea
- Rest of Asia Pacific
Major manufacturers of the market are Formosa Plastics Corporation, Xinjiang Tianye, East Hope Group, LG Chem, China National Chemical Corporation (ChemChina).