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Sep 08, 2023

Global Polyvinyl Chloride Market Report to 2027: Ongoing Construction Projects Around the Globe Drive Growth

Dublin, March 21, 2023 (GLOBE NEWSWIRE) -- The "Polyvinyl Chloride Market -

Dublin, March 21, 2023 (GLOBE NEWSWIRE) -- The "Polyvinyl Chloride Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Product Type (Rigid PVC, Flexible PVC, Low Smoke PVC, Chlorinated PVC), By Stabilizer Type, By Application, By End User Industry, By Region" report has been added to ResearchAndMarkets.com's offering.The global polyvinyl chloride market is projected to increase at an impressive rate through 2027. Polychlorethene and vinyl are other known scientific names for Polyvinyl Chloride, a high-strength thermoplastic plastic material that is an economical, durable, lightweight, and fire-resistance.

It is the third-largest thermoplastic material by volume in consumption after polyethylene and polypropylene. According to Statista, in 2018, the global production volume of PVC amounted to 44.3 million tons and is going to reach 60 million metric tons in 2025. Hence, the demand for PVC is going to increase to fulfill the increasing population need.

Apart from this, PVC is widely demanded in Various sectors such as food and beverage packaging, building & construction, transportation, electrical, and healthcare application. Therefore, the increase in the population led to an increase in the demand for the product. Thus, the global polyvinyl chloride market is expected to rise in market share in the projected year.Ongoing Construction Projects Around the Globe are Driving the MarketEveryone needs the house for safe survival. As the population rises, the demand for homes is increasing within the market. Many construction activities are going on worldwide to ensure the fulfillment of the building demand.

According to the Statista report in 2021, the market size of the construction sector as per revenue is 6.4 trillion USD in 2020 and is expected to reach twice its size up to 14.4 trillion USD in 2030.

As the construction market's growth directly impacts the PVC market, an increase in demand for the PVC market will be expected. Polyvinyl Chloride is one of them that is demanded by different industries for production or operation.

Polyvinyl Chloride is used to manufacture window frames, drainage pipes, water service pipes, medical devices, blood storage bags, cable & wire insulation, resilient flooring, roofing membranes, stationary, automotive interiors & seat coverings, fashion & footwear, and packaging.

The graph of demand and supply chain of PVC is growing as time moves forward due to the diverse need of industries. Hence, there will be a positive impact on the global polyvinyl chloride market share.There are drastic changes in the lifestyle of people due to urbanization and modernization. Almost everything around human society & environment is made up of electronic goods. PVC is one of the most preferred compounds used for making cabinets of electronic goods due to its resistance capacity.

According to Statista, the global electronic product market is valued at 1.190 billion USD per revenue and is expected to grow & reach up to 1.650 billion USD in 2025. Thus, the demand for the polyvinyl market is expected to be increased to fulfill the industry's needs and supply. PVCs are broadly used for packaging boxes of food and drinks because they are flexible and lighter in weight.

Furthermore, use in medicinal packaging, industrial chemical, edible ingredient, textile compound, and other variables will propel the market share. The global Polyvinyl Chloride market is expected to increase in the forecasted year.Side-Effect of Polyvinyl Chloride on Health is Hindering the Market GrowthPolyvinyl Chloride can be a toxic chemical if not handled safely and appropriately. It contains lead, phthalates, organotin, and cadmium which can affect the health of human beings.

Thus, the toxicity of PVC is expected to hinder the growth of the PVC market. Due to changes in global relations and war, there are considerable differences in demand and supply quantities leading to the fluctuation in prices. But there are many alternatives that marketers use to lower the disturbance's effect.Increasing Efforts for Technological Development Driving the GrowthOngoing research and development operation worldwide is driving it to sustainable development to ensure optimum and sensible use of the resources. Growing technological advancements make the manufacturer concerned about market value growth. Rising technological advancement led to the depreciation of production costs and wastage linked with increased industries.

There is a rise in the receiving funding for better development and enhancement of product from the government, and the different source is strengthening the market growth. For example, Ethylene and chlorine are combined to create a monomer of vinyl chloride, which is non-chlorinated and safer for health.

Companies Mentioned

Vestolit GmbH & Co. KG

Westlake Chemical Corporation

Formosa Plastics Corporation

INEOS Group AG

Kaneka Corporation

LG Chem Ltd.

Avient Corporation

Occidental Petroleum Corporation

China National Chemical Corporation

Saudi Basic Industries Corporation

Report Scope:In this report, Global Polyvinyl Chloride Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:Polyvinyl Chloride Market, By product type:

Rigid PVC

Flexible PVC

Low Smoke PVC

Chlorinated PVC

Polyvinyl Chloride Market, By stabilizer type:

Calcium-based Stabilizers (Ca-Zn Stabilizers)

Lead-based Stabilizers (Pb Stabilizers)

Tin and Organotin-based Stabilizers (Sn Stabilizers)

Others

Polyvinyl Chloride Market, By application:

Pipes & Fittings

Films & Sheets

Wires & Cables

Bottles

Others

Polyvinyl Chloride Market, By end user industry:

Electrical & Electronics

Construction

Healthcare

Automotive

Packaging

Others

Polyvinyl Chloride Market, By region:

North America

United States

Canada

Mexico

Asia-Pacific

China

India

Japan

Australia

South Korea

Europe & CIS

Germany

France

United Kingdom

Spain

Italy

South America

Brazil

Argentina

Colombia

Middle East & Africa

South Africa

Saudi Arabia

UAE

For more information about this report visit https://www.researchandmarkets.com/r/zbharx

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