Vinyl Chloride Monomer Market Size (2024 - 2029)

The vinyl chloride monomer market is projected to experience growth over the forecast period, driven by increasing demand from the building, construction, and healthcare sectors. Despite challenges such as environmental concerns, the availability of substitutes, fluctuating raw material prices, and stringent regulations, the market is expected to recover and expand. The development of bio-based alternatives and advancements through research and development present additional opportunities. The Asia-Pacific region is anticipated to lead in market size and growth, fueled by demand in countries like China and India.

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Market Size of Vinyl Chloride Monomer Industry

Vinyl Chloride Monomer Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 3.87 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Vinyl Chloride Monomer Market Major Players

*Disclaimer: Major Players sorted in no particular order

Vinyl Chloride Monomer Market Analysis

The Vinyl Chloride Monomer Market size is estimated at 45.39 Million tons in 2024, and is expected to reach 54.88 Million tons by 2029, growing at a CAGR of 3.87% during the forecast period (2024-2029).

The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.

  • Over the short term, rising demand from the building and construction sectors, as well as rising demand from the healthcare sector, are some of the factors driving the growth of the market studied.
  • On the flip side, rising environmental concerns, the availability of substitutes in various applications, fluctuating raw material prices, and stringent government regulations are some of the factors hindering the growth of the market.
  • Furthermore, the emergence of bio-based vinyl chloride monomer (VCM) and advancements in the product through research and development are expected to provide numerous opportunities over the forecast period.
  • Asia-Pacific is expected to dominate the global vinyl chloride monomer market, and it is also estimated to be the fastest-growing market over the forecast period due to the increasing demand from building and construction sectors in countries such as China and India.

Vinyl Chloride Monomer Industry Segmentation

The vinyl chloride monomer (VCM) can be referred to as a colorless compound, which is utilized to manufacture PVC. The vinyl chloride monomer (VCM) is utilized in the production of ethylenediamine to generate resins and the manufacturing of chlorinated solvents. The vinyl chloride monomer (VCM) is also utilized as an aerosol propellant and is also a starting product for polyvinyl resins. It has a sweet odor, is highly flammable, and can emanate toxic fumes of carbon dioxide, phosgene, carbon monoxide, and hydrogen chloride. The market is segmented based on application, end-user, and geography. By application, the market is segmented into PVC and other applications. By end-user industry, the market is segmented into building and construction, healthcare, electrical, and other end-user industries. The report offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of volume (million tons).

Application
PVC
Other Applications
End-user Industry
Building and Construction
Healthcare
Electrical
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Vinyl Chloride Monomer Market Size Summary

The Vinyl Chloride Monomer (VCM) market is poised for growth, driven by increasing demand from the building and construction sectors, as well as the healthcare industry. VCM is a crucial chemical primarily used in producing polyvinyl chloride (PVC), which is extensively utilized in construction applications such as siding, roofing, and window frames. The market experienced a setback due to the COVID-19 pandemic, which caused manufacturing shutdowns and supply chain disruptions. However, the industry rebounded in 2021, and the demand is expected to continue rising, particularly in the Asia-Pacific region, where countries like China and India are witnessing significant construction activities. Despite challenges such as environmental concerns and fluctuating raw material prices, the market is expected to benefit from advancements in bio-based VCM and ongoing research and development efforts.

The Asia-Pacific region is anticipated to dominate the global VCM market, driven by substantial investments in residential and commercial construction. The region's growth is supported by rising household incomes, urbanization, and government initiatives aimed at boosting infrastructure development. In China, the construction sector's output has shown progressive growth, with increased emphasis on affordable housing and sustainable development. Similarly, countries like India and Indonesia are experiencing growth in their healthcare and construction sectors, further fueling the demand for VCM. The market is characterized by a partially fragmented nature, with key players such as Occidental Petroleum Corporation, AGC Chemicals, and Vynova Group actively contributing to its development. These trends indicate a positive outlook for the VCM market over the forecast period, with opportunities for expansion and innovation.

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Vinyl Chloride Monomer Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Demand in Healthcare Sector

      2. 1.1.2 High Consumption from Building and Construction Industry

    2. 1.2 Restraints

      1. 1.2.1 Increasing Environmental Concerns and Availability of Substitutes in Various Applications

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Application

      1. 2.1.1 PVC

      2. 2.1.2 Other Applications

    2. 2.2 End-user Industry

      1. 2.2.1 Building and Construction

      2. 2.2.2 Healthcare

      3. 2.2.3 Electrical

      4. 2.2.4 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Vinyl Chloride Monomer Market Size FAQs

The Vinyl Chloride Monomer Market size is expected to reach 45.39 million tons in 2024 and grow at a CAGR of 3.87% to reach 54.88 million tons by 2029.

In 2024, the Vinyl Chloride Monomer Market size is expected to reach 45.39 million tons.

Vinyl Chloride Monomer Market Report Snapshots

Vinyl Chloride Monomer Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)