- Polyvinyl chloride (PVC) is a polymer plastic which is usually accessible in two forms such as flexible and rigid.PVC is formed from vinyl chloride monomer by means of bulk polymerization, suspension and emulsion. It is the maximum used polymers owing to its less price and efficiency as compared to other plastic products. Although, PVC prices are estimated to rise due to increase in cost of feedstock, mostly natural gas over the coming years. Rising environmental concerns and low rate PVC deprivation acts as key challenges for several market players. Transportation, construction, consumer, electrical & electronics and packaging are the major applications for polyvinyl chloride market.
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PVC is also used by car manufacturers for supplying vinyl flooring and producing car interiors. Construction is the major application segment and contributed for over 55% of overall market size in 2013.Rise in construction spending in developing markets has driven the market demand over the forecast period. Second largest segment for PVC market is consumer applications followed by Electrical& electronics segment which is expected to grow at a CAGR over 5.2% from 2014 to 2020. Based on geography, Asia Pacific was the largest regional market for PVC and contributed over 57% of the total market share in 2013.
Moreover, rising infrastructure expenditure along with competent process in India and China is estimated to drive the PVC market in this region. In 2013, Europe contributed over 18.5% of the total market volume; hence Europe is counted to be the second largest market for PVC. In addition, Growing demand of PVC in regions like Turkey and Russia is driving European market. Middle East & Africa is anticipated to be the rapid emerging regional polyvinyl chloride market as it is projected to grow CAGR over 5.5% during 2014 to 2020.
Few of the major companies contributing in the worldwide polyvinyl chloride market comprises Mexichem S.A.B, Xinjiang Zhongtai Chemical Co. Ltd, ChemChina, Solvay S.A , Tianjiin Bohai Chemical, BASF, Vinnolit GmBH and Co., Westlake Chemical Corp, Axiall Corporation Sinopec Group ,Arkema S.A., LG Chem, Shin-Etsu Chemical Co. Ltd ,OxyVinyls, Georgia Gulf Corp, Ineos Chlorvinyls Ltd., & Co Formosa Plastics Group and KEM One.
Information Source: Grand View Research
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