Asia-Pacific Polyvinyl Chloride (PVC) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Polyvinyl Chloride (PVC) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific polyvinyl chloride (PVC) is expected to register a CAGR of over 5% during the forecast period. The demand for PVC pipes and fittings is driven by its increasing demand in the developing countries, especially in the agriculture-based economies like India, China, Indonesia, etc.

Key Highlights

• Major factors driving the market studied are the increasing use of plastics to reduce vehicle weight and enhance fuel economy, growing demand from the construction industry, and increasing applications in the healthcare industry
• However, hazardous impacts on humans and the environment are expected to majorly hinder the growth of the market studied.
• The accelerating usage of electric vehicles and PVC recycling are likely to act as an opportunity in the future.

Key Market TrendsGrowing Demand from the Construction Industry

• The construction sector in Asia-Pacific is the largest in the world, and is growing at a healthy rate, owing to the rising population, increasing middle-class income, and urbanization.
• The increasing infrastructure construction activity is the major driver for the construction sector in the region. In addition, the entry of major players from the European Union into the lucrative market of China has further fueled the industry’s expansion. Owing to their business potentials, countries like Indonesia, China, Malaysia, Singapore, and South Korea, have become hosts to numerous national and international events.
• Huge consumer base and cheaper manufacturing costs in the Asia-Pacific region are drawing in high FDIs, with India and China being the major beneficiaries.
• Such favorable business environment in the region further accelerated the demand for hotels, shopping malls, high-rise buildings, arenas, and stadiums (both outdoor and indoor), thereby, boosting the construction industry in the region.
• Besides this, the residential construction has also been increasing in the region, which is driven by the growing population and rise in migration, owing to employment opportunities.

China to Dominate the Market

• In recent years, China has become a global industrial and manufacturing hub. The Chinese market is expected to witness a significant growth during the forecast period, owing to the significant increase in the per-capita income of the middle-class population and resultant increase in the sales of consumer goods in the region.
• China has planned many infrastructural development projects, such as the Belt and Road Initiative, as well as infrastructural projects, which includes the development of airport (new Beijing airport), roads (30,000 km of highways, with bridges built or upgraded), 30,000 km of high speed rail covering (which is expected to cover more than 80 cities), and 60% of urbanization ratio with permanent residents.
• The country is a leader in the electric car market in Asia-Pacific, as well as across the world. The country is expecting total annual sales of two million electric and gasoline-electric hybrid vehicles, by 2020.
• The Chinese government is providing substantial financial and non-financial incentives to boost the sales of electric cars. The country’s New Energy Vehicle (NEV) initiative is aimed at aiding the electrics to reach 20% of the automotive market by 2025. However, the NEV sector is expected to grow rapidly, after the subsidies are terminated, by the end of 2020.
• As China is the world’s largest manufacturing economy, its packaging requirement is huge. The industrial output in the country expanded by 6.6%, which had a positive influence on the packaging industry.
• Moreover, the country witnessed a rapid growth in the fast-moving consumer goods (FMCG) market. The growth of the FMCG market was majorly driven by the increased spending on premium and healthier products by middle-class consumers in the country.
• All such factors are driving the demand for PVC in the country.

Competitive Landscape

Asia-Pacific Polyvinyl Chloride market is fragmented among the top five players. The top companies have been focusing on providing better materials for various end-user industries. Major manufacturers of Asia-pacific PVCs are Formosa Plastics Corporation, China National Chemical Corporation (ChemChina), Shin-Etsu Chemical Co. Ltd, Xinjiang Tianye, East Hope Group, Westlake Chemical Corporation, LG Chem, and amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.