increasing demand from construction industry is driving the Polyvinyl Chloride (PVC) Market in APAC

Latest News:- Polyvinyl Chloride (PVC) Market in APAC: Pipes and fittings is expected to lead the Application segment during 2024-2028

Technavio analyzes that the Polyvinyl Chloride (PVC) Market in APAC is expected to grow at a CAGR of 4.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 9626.9 million.There are various factors that contribute to the growth of the market. The Polyvinyl Chloride (PVC) market in APAC is experiencing significant growth, driven primarily by the construction industry's increasing demand. This sector's expansion is attributed to PVC's versatility and durability, making it an ideal choice for various applications, including pipes, roofing, and insulation. As infrastructure development and housing projects proliferate in the region, the demand for PVC is poised to rise further.

In the APAC market, Polyvinyl Chloride (PVC) is a significant player, particularly in the production of rigid and flexible PVC. Notably, over half of all PVC resin is utilized in manufacturing pipes and fittings, which are employed extensively in municipal and industrial applications. These pipes offer robust, gasket-sealed junctions for diameters of 100 mm (4 in) or larger in both water and sanitary sewer systems. PVC's popularity stems from its permanent, leak-resistant joints, achieved through solvent cement or heat-fusion methods. With a lifespan of 50 to 70 years, PVC pipes have proven their worth in the building and construction sector for over six decades. Their manufacturing process provides substantial energy savings, and their low-cost distribution, coupled with a long, reliable service life, makes them an indispensable choice for various industries, including electrical and electronics, footwear, healthcare, and PVC roofing membranes. Additionally, PVC is used in thermal insulation and various profiles, hoses, tubings, and bottles. 

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Polyvinyl Chloride (PVC) Market in APAC Segmentation

• Application
  • Pipes and fittings
  • Films and sheets
  • Wires and cables
  • Others
• Geography
  • APAC

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• BASF SE
• China National Chemical Corp. Ltd.
• Covestro AG
• DuPont de Nemours Inc.
• East Hope Group
• Formosa Plastics Corp.
• Huntsman Corp.
• INEOS Group Holdings S.A.
• KEM ONE
• LACC
• LG Chem Ltd.
• Nan Ya Plastic Corp.
• Occidental Petroleum Corp.
• Recticel Group
• Reliance Industries Ltd.
• Shin Etsu Chemical Co. Ltd.
• The Lubrizol Corp.
• The Sanmar Group
• Westlake Corp.

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Research Analysis Overview

The Polyvinyl Chloride (PVC) market in APAC is primarily driven by the production and use of the synthetic plastic polymer, Vinyl Chloride. An amorphous solid, PVC is known for its chemical resistance and flame-retardant properties, making it ideal for various applications. In the construction sector, PVC is widely used in building materials such as pipes, fittings, and insulation. It is also utilized in engineering applications like electrical wiring and transportation industries. PVC finds versatility in everyday applications, including healthcare, electrical and electronics, and offshore trading. Major PVC producers in APAC include Formosa Plastics and OxyVinyls. The prices of PVC vary depending on the rigidity (Rigid PVC or Flexible PVC) and specific applications.

Market Research Overview

The Polyvinyl Chloride (PVC) market in the Asia-Pacific (APAC) region is a significant segment of the global commodity chemicals industry. PVC, a synthetic plastic polymer derived from vinyl chloride monomer, is an amorphous solid with excellent chemical resistance and flame-retardant properties. Its applications span across various industries, including electrical wiring, building materials, pipes, fittings, conduits, tubing, and medical devices. The market's growth is driven by the increasing demand for lightweight, durable, and corrosion-resistant materials in packaging, construction, and infrastructure development. Technavio, a leading market research firm, projects that the global commodity chemicals market, which includes PVC manufacturers, will experience substantial growth due to the continuous innovation in plastic packaging materials, driven by the need for improved durability and resistance to environmental factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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