The global polyvinyl chloride (PVC) compound market is characterized by various PVC formulations widely employed across the construction, automotive, and healthcare industries. Renowned for its durability and versatility, PVC features an amorphous chemical structure with polar chlorine atoms. This composition imparts persistent fire-retardant properties to PVC, attributable to the presence of chlorine. Examining PVC's structure reveals chlorine atoms bonded to every carbon chain, enhancing resistance to oxidation reactions. This unique composition ensures sustained performance and durability, contributing to the compound's widespread applications and longevity.
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Data Bridge Market Research analyses that the Global Polyvinyl Chloride (PVC) Compound Market was USD 11.96 billion in 2021 and is expected to reach USD 17.35 billion by 2029, registering a CAGR of 4.75% during the forecast period of 2022-2029. PVC compounds witness heightened demand for outdoor applications due to their exceptional weather resistance and durability. This quality makes PVC a preferred choice for products exposed to diverse environmental conditions.
Key Findings of the Study
Sustainable practices are expected to drive the market's growth rate
A heightened focus on sustainability propels the uptake of eco-friendly polyvinyl chloride (PVC) compounds and manufacturing methods. This shift is driven by a global commitment to reducing environmental impact, prompting industries to explore and implement green alternatives. Pursuing sustainable practices in PVC production involves minimizing resource consumption, adopting recycled materials, and developing processes with lower ecological footprints. This commitment aligns with broader initiatives to create a more environmentally conscious and responsible industrial landscape.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Rigid Product, Flexible Product), Type (Non-Plasticized PVC, Plasticized PVC), Compound (Dry PVC Compound, Wet PVC Compound), Manufacturing Process (Injection Molding, Extrusion, Others), Raw Material (PVC Resin, Plasticizers, Stabilizers, Lubricants, Fillers, Functional Additives, Alloying Polymers), Application (Pipes and Fittings, Film and Sheets, Wire and Cables, Bottles, Profiles, Hoses, Tubing, Others), End User (Medical, Building and Construction, Packaging, Automotive, Consumer Goods, Electrical and Electronics, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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3M (U.S.), XPEL, Inc. (U.S.), Dow (U.S.), Eastman Chemical Company (U.S.), Hexis S.A.S (France), PremiumShield (U.S.), STEK-USA (U.S.), Reflek Technologies Corporation (U.S.), GRAFITYP (Belgium), ORAFOL Europe GmbH (Germany), DuPont (U.S.), DAIKIN (Japan), Optic Shield (Czechia), Solvay (Belgium), SCHWEITZER-MAUDUIT INTERNATIONAL, INC. (U.S.), Saint-Gobain (France) and Avery Dennison Corporation (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global polyvinyl chloride (PVC) compound market is segmented on the basis of product type, type, compound, manufacturing process, raw material, application and end user.
- On the basis of product type, the global polyvinyl chloride (PVC) compound market is segmented into rigid product, and flexible product
- On the basis of type, the global polyvinyl chloride (PVC) compound market is segmented into non-plasticized PVC, and plasticized PVC
- On the basis of compound, the global polyvinyl chloride (PVC) compound market is segmented into dry PVC compound, and wet PVC compound
- On the basis of manufacturing process, the global polyvinyl chloride (PVC) compound market is segmented into injection molding, extrusion, and others
- On the basis of raw material, the global polyvinyl chloride (PVC) compound market is segmented into PVC resin, plasticizers, stabilizers, lubricants, fillers, functional additives, and alloying polymers
- On the basis of application, the global polyvinyl chloride (PVC) compound market is segmented into pipes and fittings, film and sheets, wire and cables, bottles, profiles, hoses, tubing, and others
- On the basis of end user, the global polyvinyl chloride (PVC) compound market is segmented into medical, building and construction, packaging, automotive, consumer goods, electrical and electronics, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major global polyvinyl chloride (PVC) compound market players in global polyvinyl chloride (PVC) compound market are DuPont (U.S.), DAIKIN (Japan) Optic Shield (Czechia), Solvay (Belgium), SCHWEITZER-MAUDUIT INTERNATIONAL, INC. (U.S.), Saint-Gobain (France) and Avery Dennison Corporation (U.S.)
Market Developments
- In October 2022, Westlake Vinnolit launched "GreenVin," a bio-based PVC derived from cooking oil, as part of a sustainability initiative. This innovative product aims to reduce carbon footprints and promote renewable energy sources, contributing to a more environmentally friendly PVC production in alignment with global sustainability goals
- In October 2022, India launched an inquiry into PVC suspension resins with residual Vinyl Chloride Monomer (RVCM) levels exceeding 2 PPM. The decision to initiate a safeguard investigation was communicated to the WTO's Committee on Safeguards on September 16, 2022. This investigation underscores India's commitment to monitoring and addressing potential concerns related to Poly Vinyl Chloride (PVC) Suspension Resins and maintaining product safety standards within the country
- In August 2022, PVC Group, an Investindustrial Growth subsidiary, initiated the divestment of its stake in Benvic Compounds, a PVC manufacturing company. After a four-year collaboration, this strategic move signifies a shift in PVC Group's investment priorities and portfolio management
- In August 2022, Indian company Reliance Industries stated a strategic initiative to expand the country's polyvinyl chloride (PVC) production capacity. The expansion plan targets a substantial increase of 1.5 million metric tons annually, effectively doubling the capacity to 3.055 million metric tons annually. This strategic move aims to reduce reliance on exports and bolster domestic PVC manufacturing capabilities, positioning the company for increased self-sufficiency and competitiveness in the market
Regional Analysis
Geographically, the countries covered in the global polyvinyl chloride (PVC) compound market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in the global polyvinyl chloride (PVC) compound market during the forecast period 2022-2029
Asia-Pacific dominates the global polyvinyl chloride (PVC) compound market, boasting significant market share and revenue. This dominance is projected to persist through 2029, propelled by robust economic growth and the influx of plastic manufacturers in the region. The market's upward trajectory is intricately linked to the dynamic economic landscape, positioning Asia-Pacific as a key player in the PVC compound industry, with sustained growth anticipated during the forecast period from 2022 to 2029.
North America is estimated to be the fastest growing region in the global polyvinyl chloride (PVC) compound market during the forecast period 2022-2029
North America is expected to dominate the global polyvinyl chloride (PVC) compound market during the forecast period (2022-2029), experiencing significant growth. This growth is attributed to stringent environmental regulations governing the region's production and consumption of materials. The region's commitment to environmental responsibility is anticipated to drive increased adoption of PVC compounds as industries align with regulatory requirements, fostering a lucrative market landscape for PVC applications in North America.
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