Polyvinyl Chloride (PVC) Market Outlook - Supply and Demand Analysis 2024-2032

Polyvinyl Chloride (PVC) Market

Polyvinyl chloride (PVC) is a synthetic resin obtained via the polymerization of vinyl chloride. It is used in a range of domestic and industrial goods and is one of the most widely produced and consumed plastics in the world after polyethylene. It is a lightweight and durable material and shows excellent resistance to weathering. A highly versatile thermoplastic polymer, it is widely used for manufacturing building and construction products, such as pipes, window profiles, and flooring, and consumer goods like toys and inflatable products.

Global Supply/Demand Outlook

The market is projected to grow at a CAGR of 3.6% between 2024 and 2032 to reach a volume of about 65,237.4 KT by 2032. The key factors propelling the PVC market are increasing demand for building and construction materials like pipes and flooring with the rapid growth of the construction sector and the growing urbanisation. Pipe and fittings hold the major share of the market, and the segment is anticipated to remain the largest in the forecast period. This growth is driven by increasing residential and commercial constructions and the increasing demand for lightweight and durable material that is economical and versatile as well. The material is replacing traditional building materials like wood, rubber, metal, ceramics, and others in several construction applications.

The global capacity of PVC was about 62,963 KT in the year 2023. Asia Pacific holds the major share of PVC capacities, representing around 63% of the global production capacity. North America and Europe follow closely behind. In China, which is the leading global PVC producer, more than 80% of PVC is produced using coal-based carbide as feedstock unlike other markets which majorly rely on ethylene-based feedstock.

Key Market Players

Shin-Estu Chemicals Co. Ltd is the leading PVC producer globally. In 2022, the company’s production capacity stood at 3.62 million tons which further increased to 4.15 million tons in 2023. The company holds approximately 7% of the global PVC capacity, followed by Westlake with 6% of the market share.

Other major manufacturers of PVC are Ineos Group Ltd., Formosa Plastics Corporation, OxyChem, Xinjiang Zhongtai Chemical Co., Ltd., Xinjiang Tianya Co., Ltd., Orbia Advance Corporation, Chemchina, LG Chem Ltd., Shaanxi Beiyuan Chemical Industry Group Co Ltd, Reliance Industries Pvt. Ltd., Braskem S.A., Unipar Indupa, and SABIC, among others. The top five players hold around 25% of the global capacity.\

Key Questions Answered in the Report:

• What are the high-growth opportunities and markets for polyvinyl chloride (PVC) by application and region?

• What are the types of polyvinyl chloride (PVC) available by region?

• Which segments and regions are projected to grow at a faster pace and why in the polyvinyl chloride (PVC) market?

• What is the nameplate capacity of polyvinyl chloride (PVC) by region from 2018 to 2032?

• How does the plant capacity utilisation of polyvinyl chloride (PVC) vary by region between 2018 and 2032?

• Who are the major players in the polyvinyl chloride (PVC) market by capacity and region?

• What major plant shutdowns and expansions have occurred in the polyvinyl chloride (PVC) market in the last year and the last quarter?

• What major plant shutdowns and expansions are planned in the polyvinyl chloride (PVC) market over the next year and quarters?

• How did export and import dynamics of polyvinyl chloride (PVC) vary by region in terms of value between 2018 and 2023?

• How did export and import dynamics of polyvinyl chloride (PVC) vary by region in terms of volume between 2018 and 2023?

• What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of polyvinyl chloride (PVC)?

• What are the environmental considerations and regulatory impacts affecting the polyvinyl chloride (PVC) market?

• What technological innovations are having an impact on the production and application of polyvinyl chloride (PVC)?

• What are the key trends and innovations in the polyvinyl chloride (PVC) market?

• What are the challenges and opportunities faced by polyvinyl chloride (PVC) manufacturers?

• What are the potential risks and barriers to entry for new players in the polyvinyl chloride (PVC) market?

• What strategic investments and expansions have major players made in the polyvinyl chloride (PVC) market?

• How are geopolitical factors and international trade policies affecting the global polyvinyl chloride (PVC) market?

• What are the price trends for polyvinyl chloride (PVC), and how are they expected to change?

• How does the supply chain of polyvinyl chloride (PVC) operate, and what are its key components?