Global Polyvinyl Chloride Market: Overview
The global polyvinyl chloride market is growing at a healthy rate and is expected to register a promising growth rate in the next few years. The development of renewable polyvinyl chloride products is likely to offer growth opportunities in the coming years. The research study offers a detailed analysis of the global polyvinyl chloride market and throws light on the key growth factors and opportunities that are likely to accelerate the growth of the overall market throughout the forecast period. In addition to this, a comprehensive study of the competitive landscape has been provided in the scope of the study.
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Polyvinyl Chloride Market: Snapshot
The market for Polyvinyl Chloride (PVC) has made giant strides in the chemical and materials industry over the past three decades. The growth has been substantially fueled by the myriad applications of this versatile thermoplastic polymer in a wide spectrum of industries, such as construction, automotive, healthcare, packaging, electronics, and sports. The immense potential of the usage to which PVC can be put to in these applications is attributed to the potentially attractive structural and performance profile of the materials. The application of PVC is found to be especially promising in manufacturing panoply of medical devices to meet the variety of needs of the healthcare industry world over. The usage of PVC-based devices in the medical sector is made possible by making adequate modifications in surface. Relentless research have been done in the past few years to modify the surface properties of PVC to make them more biocompatible, reduce the surface hydrophobicity, remove unwanted protein adsorption, and eliminate bacterial adhesion. This is a significant trend expanding the horizon of the market. As a result, engineers have been tinkering with the strategies for making PVC surface treatments pertaining to the material bioactivity, optical, mechanical, and dielectric properties. The extensive application of plasma treatment to make some particular modification is a case in point. This may induce superficial functionalities making PVC fit for some demanding applications in the medical industry.
Some of the other techniques used for the surface treatment are high energy irradiation that includes UV treatment, and ozone treatment. Advancements in each of these technologies are expected to unlock promising prospects in the overall market. High energy irradiation may attract massive investment owing to costly equipment; nonetheless, they are safe as they don’t emit hazardous materials. Efforts are being made to find inexpensive methods of altering the surface chemistries but any noteworthy success has evaded engineers so far.
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Global Polyvinyl Chloride Market: Key Trends
A tremendous growth in the use of renewable energy and the rising use of high efficient pumps are expected to boost the demand for polyvinyl chloride products, thus accelerating the growth of the global market. The rising demand for electric vehicles and the development of the wood plastics composites market are some of the other major factors that are predicted to generate potential growth opportunities for the market players in the next few years.
Global Polyvinyl Chloride Market: Market Potential
The increasing use of polyvinyl chloride products in the automobile sector and the rapid development of the building and construction industry are some of the major factors that are projected to encourage the growth of the global polyvinyl chloride market throughout the forecast period. Furthermore, the growing demand for polyvinyl chloride products for plastic films and sheets and medical devices sector are likely to generate promising growth opportunities for the market players. On the flip side, the use of polyvinyl chloride in the construction of green buildings and the rising competition form concrete and steel pipes are projected to restrict the growth of the overall market in the next few years.
Global Polyvinyl Chloride Market: Regional Outlook
Among the major regional segments, Asia Pacific is projected to account for a large share of the global polyvinyl chloride market throughout the forecast period. The high contribution from China is estimated to accelerate the growth of the Asia Pacific market in the coming years. This region is expected to be followed by Europe, acquiring the second position in the global market in terms of market share. The high growth of Europe can be attributed to the increasing demand for polyvinyl chloride products in Russia and Turkey. Furthermore, the rising number of players operating across the globe and the increasing number of applications are some of the key factors that are estimated to augment the growth of the polyvinyl chloride market in several developing nations around the world.
Global Polyvinyl Chloride Market: Competitive Analysis
The global market for polyvinyl chloride is competitive in nature with a high number of players operating in it across the globe. Some of the key players listed in the research study are Formosa Plastics Group, Mexichem S.A.B., Occidental Petroleum Corporation, Solvay S.A., KEM one, Xinjiang Zhongtai Chemical Co. Ltd., Ineos Chlorvinyls Ltd., Axiall Corporation, Vinnolit Gmbh & Co. Kg, and Shin-Etsu Chemical Co. Ltd. These players are focusing on technological developments and innovations so as to enhance their market penetration across the globe.
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