Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 78.90 Billion | USD 101.45 Billion | 5.6% | 2021 |
FrequentlyAsked Questions
Growth of Polyvinyl Chloride (PVC) market over forecasting timeline is owing to reduced costs and high performance that it imparts to plastics.
According to Zion market research report, The global Polyvinyl Chloride (PVC) Market accrued earnings worth approximately 78.90 (USD Billion) in 2021 and is predicted to gain revenue of about 101.45(USD Billion) by 2028, is set to record a CAGR of nearly 5.6% over the period from 2022 to 2028.
Asia Pacific will contribute lucratively towards the global market revenue over the projected timespan. The regional market surge is rise in production of compound in countries such as China.
The key industry participants leveraging business landscape include Occidental Petroleum Corporation, Kem One, Vinnolit GmbH & Co. KG, Shin-Etsu Chemical Co. Ltd , Xinjiang Zhongtai Chemical Co. Ltd., Mexichem S.A.B. de C.V., Formosa Plastics Group, INEOS Group Ltd, Solvay S.A., and AXIALL Corporation.
PVC stands for polyvinyl chloride and is a type of man-made plastic that is produced by polymerizing vinyl chloride monomer. PVC is a popular type of plastic that is put to use in a diverse range of industries, including the building and construction industry, the automotive industry, the medical industry, and the packaging industry.
PVC is a thermoplastic material, which implies that it can be reshaped after being melted and reshaped several times without altering its fundamental characteristics. In addition to this, it is a flexible material that can be manufactured in a wide variety of colors, surface textures, and degrees of brittleness. Plasticized polyvinyl chloride (PVC) can be made rigid or flexible, and its qualities can be altered by the use of various chemicals and plasticizers.
When compared to the costs of producing other materials, such as metal or glass, PVC has a significantly lower production price, which is one of its most significant benefits. PVC is appealing as a material for a wide variety of applications since it is not only lightweight but also long-lasting and resistant to chemicals. On the other hand, PVC's influence on the environment has been called into question. The manufacturing of PVC results in the discharge of dangerous compounds including dioxins, which are harmful to both human health and the environment. In addition, it can be challenging to recycle products made of PVC, which might result in waste and contamination. As a direct consequence of this, there is a growing interest in the research and development of environmentally suitable alternatives to PVC.
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