Polyvinyl Chloride Market is
projected to reach USD 79.11 billion by 2020 and is expected to grow with
attractive CAGR of 5.0% over the forecast period. The decreasing dependability
of PVC on non-renewable resources such as crude oil and natural gas as compared
to other synthetic polymers is expected to drive the market growth. The demand
for PVC in medical devices and automobiles owing to its characteristics such as
high corrosion resistance, low price, workability, and effectiveness is
expected to fuel market growth.
Polyvinyl chloride (PVC) is the third most widely produced
synthetic plastic polymer globally after polypropylene and polyethylene. PVC is
available in two forms, namely rigid and flexible. The rigid PVC has its
application in bottles, doors & windows, non-food packaging, and
construction of pipes. The flexible PVC is used in insulation of electrical
wires and in the flooring of hospitals, homes, schools and areas where
sterility is required.
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The major applications of PVC include electrical &
electronics, construction, transportation, and consumer packaging. The product
is used for car interiors such as dashboards and door panels owing to its high
durability. In addition, PVC has its applications in the automotive industry as
underbody coatings, sealants, floor modules, wire harnesses, passenger
compartment parts and exterior parts on account of its inexpensive nature and
abilities to reduce the vehicle weight and providing improved flexibility in
designing.
Construction segment accounted for over 55.7% of the global
market volume in 2013. The global events such as Summer Olympics and FIFA World
Cup led to the increase in the construction spending in the BRICS nations which
is likely to propel PVC demand in the industry.
The consumer applications including footwear, sportswear,
and appliances contribute to over 12.0% of the global market volume in 2013.
The wide use of PVC in footwear and clothing on account of its water resistance
and inexpensive nature as opposed to rubber and leather is expected to bolster
market growth over the forecast period.
The demand for PVC in electrical and electronics segment is
expected to witness the fastest growth as opposed to its counterparts. This
growth can be attributed to the increasing demand in the electronics market in
Taiwan, China, and South Korea, which in turn is anticipated to fuel the demand
of PVC over the forecast period.
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Market Segment:
Global Polyvinyl
Chloride Application Outlook (Volume, Million Tons; Revenue, USD Million, 2012
- 2020)
• Construction
• Consumer Goods
• Packaging
• Electrical &
Electronics
• Transportation
• Others
Global Polyvinyl
Chloride Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2012 -
2020)
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Central &
South America
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