North America PVC Market Report and Forecast 2024-2032

North America PVC Market Size

The North America PVC market reached approximately 4.17 MMT in 2023. The market is projected to grow at a CAGR of 4.2% between 2024 and 2032, reaching a volume of around 6.04 MMT by 2032.

North America PVC Market Outlook

• On February 1, 2024, the US Census Bureau reported that construction spending in December 2023 increased by 0.9% from November and 14% from December 2022, boosting the demand for PVC.

• The United States experienced a 68% year-over-year growth in electric vehicle registrations from 2021 to 2022, leading to a rise in demand for durable PVC components.

• It is projected that by the year 2025, the proportion of e-commerce consumers in Canada will rise to 77.6% of the entire population, leading to an expansion in the packaging sector where PVC plays a vital role.

North America PVC Market Growth

Since the start of 2021, there has been a notable increase in construction activity in the United States, signifying a significant period of economic growth and industrial expansion. This surge has led to a multitude of construction projects, with a combined value of an impressive $500 billion, each project surpassing the billion-dollar mark. The recent upturn in the US construction sector can be largely attributed to three key pieces of legislation enacted in 2021 and 2022: the Infrastructure Investment and Jobs Act (IIJA), the Inflation Reduction Act (IRA), and the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act. The ongoing demand for new residential buildings and home renovations is driving the need for PVC in various applications such as pipes, windows, and flooring. Additionally, investments in commercial real estate and infrastructure projects, including roads, bridges, and public buildings, are further boosting the demand for durable and cost-effective PVC products.

The United States of America has successfully marketed over 800,000 vehicles in the year 2022. Polyvinyl chloride (PVC) is a commonly utilised material for insulating wires and cables within electric vehicles, owing to its exceptional electrical insulating characteristics. This material plays a crucial role in ensuring the safety and dependability of the vehicle's electrical system. PVC's robustness and ability to withstand abrasion, chemicals, and various environmental elements make it an ideal choice for safeguarding wires and cables, which are vital components of the vehicle's electrical and electronic systems.

North America PVC Industry Segmentation

“North America PVC Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Rigid PVC

• Flexible PVC

• Low Smoke PVC

• Chlorinated PVC

• Others

Market Breakup by Stabilizer Type

• Calcium Based Stabilizers (Ca-Zn Stabilizers)

• Lead Based Stabilizers (Pb Stabilizers)

• Tin and Organotin Based Stabilizers (Sn Stabilizers)

• Barium Based Stabilizers

• Others

Market Breakup by Application

• Pipes and Fittings

• Film and Sheets

• Wires and Cables

• Bottles

• Profiles, Hoses, and Tubings

• Others

Market Breakup by End Use

• Automotive

• Building and Construction

• Electrical and Electronics

• Packaging

• Healthcare

• Others

Market Breakup by Country

• United States

• Canada

North America PVC Market Share

Based on end use, the market is segmented into automotive, building and construction, electrical and electronics, packaging, and healthcare, among others. The building and construction segment

is projected to grow at a CAGR of 10.7% during the forecast period of 2024-2032. PVC is widely used in the building and construction sector due to its flexibility, longevity, affordability, and simple installation process. From plumbing and electrical systems to windows, doors, roofing, and flooring, PVC offers robust, economical, and easy-to-maintain options that cater to the requirements of contemporary construction.

Leading Companies in the North America PVC Market

Major players are focusing on sustainable production methods to gain a competitive edge in the market.

• INEOS AG 

• Westlake Corp.  

• Formosa Plastics Corp.  

• LG Corp. (LG Chem Ltd.)

• Occidental Petroleum Corp.

• Saudi Basic Industries Corporation SJSC

• Orbia Advance Corporation SAB de CV

• Shin-Etsu Chemical Co. Ltd.

• AMCO Polymers

• Aurora Material Solutions, LLC

• Others

Key Highlights of the Report