23-Mar-2022 | Zion Market Research
According to report of Zion Market Research, PVC industry gathered revenue worth about US$ 78.90 billion in 2021 and is slated to accumulate returns of approx. US$ 101.45 billion by 2028. In addition to this, PVC market is set to register CAGR of nearly 5.6% in 2022-2028. Apparently, surge in PVC market size over forecasting timeline is due to massive use of PVC in packaging activities. In addition to this, use of PVC in carpet backing and biomedical applications will proliferate market size. Reportedly, PVC is third most extensively produced synthetic plastic polymer across globe with nearly 21 million tons of PVC produced annually. Since last five decades, PVC exhibited ability of fulfilling demand for single use pre-sterilized medical component in healthcare sector. Furthermore, use of PVC as substitute product for glass and rubber will drive business space. Massive use of PVC in construction activities will prop up progression of PVC market in upcoming years.
Pipes & Fittings Segment To Lead Application Landscape By 2028
Growth of pipes & fittings segment over forecasting period is owing to large-scale usage of PVC in pipes & fittings in building constructions. In addition to this, thriving commercial & household sectors will boost segmental surge in upcoming years.
Asia Pacific PVC Market To Register Highest CAGR Over 2022-2028
Growth of regional market over forecast timeline is owing to massive use of PVC pipes in construction sector in countries such as China, Japan, and India. In addition to this, thriving consumer electronics goods sector and setting up of large number of manufacturing units in the region will proliferate revenue of Asia Pacific PVC Market.
Strategic moves made by giant manufacturers have provided impetus to growth of PVC market and will further help industry flourish in near future. We have included their company profiles in our market research study and they are profiled as Shin-Etsu Chemical Co. Ltd, Vinnolit GmbH & Co. KG, Mexichem S.A.B. de C.V., Formosa Plastics Group, Solvay S.A., Kem One, INEOS Group Ltd, Xinjiang Zhongtai Chemical Co. Ltd., Occidental Petroleum Corporation, and AXIALL Corporation.
Browse the full “PVC Market- By Product Type (Rigid PVC and Flexible PVC) and By Application (Pipes & Fittings, Wires & Cables, Films & Sheets, and Bottles): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2022–2028.” Report at https://www.zionmarketresearch.com/report/pvc-market
The global PVC Market is segmented as follows:
By Product Type
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