Polyvinyl Chloride Market Size To Reach $10.82 Billion By 2030

Polyvinyl Chloride Market Growth & Trends

The global polyvinyl chloride market size is expected to reach USD 10.82 billion by 2030, registering a CAGR of 3.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing construction and infrastructure spending in emerging markets of Asia Pacific and Latin America is expected to remain a key driving factor for global polyvinyl chloride (PVC) demand. In addition, growth of global automotive industry is also expected to have a positive influence on the market. Volatile raw material prices coupled with the stringent regulatory scenario, particularly in North America and Europe to limit or minimize PVC use for medical applications are expected to remain key challenges for market participants. In order to overcome such challenges, the industry has shifted its focus towards developing bio-based alternatives to PVC which is expected to provide future opportunities for market participants.

The building and construction segment registered for the largest market revenue share in 2023 due to the ongoing urbanization and infrastructure development, particularly in emerging economies. Polyvinyl chloride (PVC) with its versatility, durability, affordability, and user-friendly nature is widely used in the construction sector as a durable and cost-effective material. The automotive sector is projected to grow at a CAGR of 3.7% over the forecast period due to the increasing production and sales of vehicles worldwide. With the robust expansion in the automotive industry, the market witnessed a heightened demand for materials that offer durability and versatility.

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Polyvinyl Chloride Market Report Highlights

• Rigid PVC dominated the market with a 43.2% share in 2023 and is expected to retain its dominance over the forecast period. Rigid PVC, known for its high strength, durability, and resistance to environmental degradation, is extensively used in the construction industry.

• Flexible PVC is expected to emerge as the fastest-growing segment during the forecast period. The anticipated growth can be attributed to the material’s increasing demand in the packaging industry.

• The building and construction segment registered for the largest market revenue share in 2023 due to the ongoing urbanization and infrastructure development, particularly in emerging economies.

• The automotive sector is projected to grow at a CAGR of 3.7% over the forecast period due to the increasing production and sales of vehicles worldwide.

• The Asia Pacific polyvinyl chloride market secured the dominant market share of 34.1% in 2023 due to the rapid urbanization and infrastructure development in the region.

Polyvinyl Chloride Market Segmentation

Grand View Research has segmented global polyvinyl chloride market report based on type, end-use, and region:

Polyvinyl Chloride Type Outlook (Revenue, USD Million, Volume in Kilotons, 2018 - 2030)

• Rigid PVC

• Flexible PVC

• Others

Polyvinyl Chloride End Use Outlook (Revenue, USD Million, Volume in Kilotons, 2018 - 2030)

• Building & Construction

• Automotive

• Electrical

• Footwear

• Others

Polyvinyl Chloride Regional Outlook (Revenue, USD Million, Volume in Kilotons, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Netherlands

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Thailand

  • Indonesia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players of Polyvinyl Chloride Market

• Formosa Plastics Corporation, U.S.A.

• Dupont

• LG Chem

• Shin-Etsu Chemical Co., Ltd.

• Westlake Corporation

• Celanese Corporation

• Avient Corporation

• Covestro AG

• Entec Polymers

• Sterling Plastics, Inc.

• Finolex Industries Ltd.