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Polyvinyl Chloride Market Segmented By Rigid, Flexible Product in Construction, Automotive, Packaging, Electrical and Electronics, Consumer Goods for Pipes and Fittings, Profiles and Tubes, Films and Sheets, Cables, Bottles
Polyvinyl Chloride is commonly called PVC and is a type polymer that is broadly manufactured after polypropylene and polyethylene. It is known to one of the most widely manufactured polymer. Polyvinyl chloride is preferred in the place of conventional materials such as copper, iron, or wood in several applications owing to its operational productivities and profits. The purest form of polyvinyl chloride is brittle solid, white, and marginally resolvable in tetrahydrofuran while insoluble in alcohol.
It can be produced to be soft and flexible by adding phthalates and plasticizers. In the soft and flexible form, polyvinyl chloride is employed in, plumbing and expandable products, electrical cable insulation and some other uses which can substitute rubber. Polyvinyl chloride has high automated properties and rigidity, which improve along with molecular encumbrance and steadily reduction with rising temperature.
Polyvinyl chloride decomposes at extensive temperature as its heat strength is poor. However, it has enhanced insulation characteristics but due to its high polarity, its property of electrical insulation is less important to non-polymers.
Persistence Market Research (PMR) has published a new report that presents a comprehensive outlook of the global polyvinyl chloride market. The report also presents a historical growth trajectory of the market and the present and future forecasts with special reference. The study also offers the readers with insights on trends, prospects, drivers, and restraints along with segmental analysis and regional overview.
According to PMR, the global polyvinyl chloride market is expected to exhibit a 4.0% CAGR in the course of the forecast period. The global polyvinyl chloride market is projected to cross a valuation of US$ 91,811 Mn by 2026 end.
On the basis of region, the global polyvinyl chloride market has been segmented into North America, Latin America, Europe, Japan, Asia Pacific except Japan, and the Middle East and Africa. Amongst all these regions, Asia Pacific emerged as the leader in 2016 accounting for a Herculean share in the market in the same year. It is expected to touch a valuation of over US$ 58,318 Mn by the end of 2026.
This growth of the region can be attributed to the growing use of PVC across the several industries in the region. In developing countries such as India, Vietnam, Indonesia, and China, the PVC market is anticipated to rise at an extensive pace with its application growing in industries such as automotive, construction, and manufacturing, among others.
On the basis of end-user, the global polyvinyl chloride market has been segmented into construction, automotive, packaging, electrical and electronics, consumer goods, and other end users. Among all these, the market is expected to be led by the construction sector with the use of PVC rising in this sector. The rising number of construction activities across the globe is the leading factor that is driving the use of polyvinyl chloride in the sector. Moreover, the favorable characteristics of PVC also makes it a must use ingredient in the construction sector.
The manufacturers of PVC are striving to expand their consumer base and are thus focusing on product differentiation as well. The companies operating in the market are are Formosa Plastics Group, Axiall Corporation, BASF SE, Mexichem S.A.B, Westlake Chemical Corp., LG Chem, and Ineos Chlorvinyls Ltd., among others.