Market Size of Asia-Pacific Polyvinyl Chloride (PVC) Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Polyvinyl Chloride (PVC) Market Analysis
The Asia-Pacific polyvinyl chloride (PVC) market is projected to register a CAGR of more than 4.5% during the forecast period.
- COVID-19 negatively impacted the market in 2020. However, the market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
- The accelerating usage of electric vehicles and growing demand from the construction industry is expected to fuel the market's growth. However, hazardous impacts on humans and the environment during PVC production, usage, and disposal are projected to hinder the market's growth.
- The rising PVC recycling processes shall create opportunities in the market. The demand for PVC pipes and fittings is driven by increasing demand from developing countries such as India, China, Indonesia, etc.
Asia-Pacific Polyvinyl Chloride (PVC) Industry Segmentation
Polyvinyl chloride (PVC) is a high-strength thermoplastic material widely used in various applications, such as pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses, and tubings.
The market is segmented by product type, application, end-user industry, and geography. By product type, the market is segmented into rigid PVC, flexible PVC, low-smoke PVC, and chlorinated PVC. By applications, the market is segmented into pipes and fittings, films and sheets, wires and cables, bottles, profiles, hoses and tubings, and other applications. By end-user industries, the market is segmented into building and construction, automotive, electrical and electronics, packaging, footwear, healthcare, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across the globe.
For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons)
| Product Type | |
| Rigid PVC | |
| Flexible PVC | |
| Low-smoke PVC | |
| Chlorinated PVC |
| Application | |
| Pipes and Fittings | |
| Films and Sheets | |
| Wires and Cables | |
| Bottles | |
| Profiles, Hoses, and Tubings | |
| Other Applications |
| End-User Industry | |
| Building and Construction | |
| Automotive | |
| Electrical and Electronics | |
| Packaging | |
| Footwear | |
| Healthcare | |
| Other End-User Industries |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific |
Asia-Pacific Polyvinyl Chloride (PVC) Market Size Summary
The Asia-Pacific polyvinyl chloride (PVC) market is poised for steady growth, driven by the increasing demand from the construction and automotive sectors. The region's construction industry, the largest globally, is expanding due to urbanization, rising population, and growing middle-class incomes. This growth is particularly evident in countries like China and India, where the demand for office spaces and commercial projects is on the rise. The expanding urban landscape in China, coupled with its leadership in the electric vehicle market, further fuels the demand for PVC. Despite challenges related to environmental and health concerns during PVC production and disposal, the market is expected to benefit from advancements in recycling processes, creating new opportunities for growth.
The market landscape is characterized by fragmentation, with key players such as Formosa Plastics Corporation, Shin-Etsu Chemical Co. Ltd, and LG Chem playing significant roles. Recent developments, such as Shin-Etsu's collaboration with Dexerials Corporation for micro LED display technologies and Citroen India's partnership with Jio-BP to enhance EV infrastructure, highlight the dynamic nature of the industry. These strategic initiatives, along with the increasing application of PVC in various end-user industries like electronics and packaging, are anticipated to drive the market's expansion in the Asia-Pacific region over the forecast period.
Asia-Pacific Polyvinyl Chloride (PVC) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from the Construction Sector
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Hazardous Impact on Humans and the Environment
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Product Type
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2.1.1 Rigid PVC
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2.1.2 Flexible PVC
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2.1.3 Low-smoke PVC
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2.1.4 Chlorinated PVC
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2.2 Application
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2.2.1 Pipes and Fittings
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2.2.2 Films and Sheets
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2.2.3 Wires and Cables
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2.2.4 Bottles
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2.2.5 Profiles, Hoses, and Tubings
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2.2.6 Other Applications
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2.3 End-User Industry
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2.3.1 Building and Construction
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2.3.2 Automotive
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2.3.3 Electrical and Electronics
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2.3.4 Packaging
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2.3.5 Footwear
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2.3.6 Healthcare
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2.3.7 Other End-User Industries
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2.4 Geography
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2.4.1 China
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2.4.2 India
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2.4.3 Japan
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2.4.4 South Korea
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2.4.5 Rest of Asia-Pacific
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Asia-Pacific Polyvinyl Chloride (PVC) Market Size FAQs
What is the current Asia-Pacific Polyvinyl Chloride (PVC) Market size?
The Asia-Pacific Polyvinyl Chloride (PVC) Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Polyvinyl Chloride (PVC) Market?
Formosa Plastics Corporation, Shin-Etsu Chemical Co. Ltd, LG Chem, Xinjiang Zhongtai Chemical Co. Ltd and Sinochem Holdings Corporation Ltd. are the major companies operating in the Asia-Pacific Polyvinyl Chloride (PVC) Market.
