PVC Stabilizers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

PVC Stabilizers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The PVC Stabilizers Market size is estimated at 1.48 Million tons in 2024, and is expected to reach 1.82 Million tons by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).

The COVID-19 pandemic adversely affected the PVC stabilizers market. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.

Key Highlights

• The economic benefits provided by PVC pipes, tubing, and fittings and the use of PVC in the automotive industry fuel the growth of the global market.
• Health hazards and stringent government regulations regarding lead-based stabilizers hinder the market's growth.
• Nevertheless, the rising usage of organo-tin stabilizers as an environmentally friendly option may soon create lucrative growth opportunities for the global market.
• Asia-Pacific dominated the market across the world. Rising demand in different end-user industries, including building and construction in the countries of this region, is driving the Asia-Pacific market. China and India are the major contributors to this region.

PVC Stabilizers Market Trends

The Building and Construction Segment to Dominate the Market

• Polyvinyl chloride (PVC) is the most used plastic in the building and construction industry. Its strong, lightweight structure is durable against weathering, chemical corrosion, and abrasion. The products manufactured from this plastic include pipes, cables, window profiles, flooring, and roofing.
• PVC pipes are widely used for water, waste, and sewage systems. They suffer no build-up, scaling, or corrosion and provide smooth surfaces with a friction-free flow. PVC pipes are a safe choice for the transportation of drinking water. They provide more than 100 years of service life for underground pipes and are cost-efficient and 8-10 times recyclable.
• The PVC production in the United States is likely to be affected in the coming years due to the US government’s target of reducing emissions by 50% to 52% below 2005 levels by 2030 and, as a part of the Paris Agreement. Hence, the US PVC industry is likely to take significant actions to reduce its greenhouse gas (GHG) emissions and move toward carbon neutrality by 2050.
• Furthermore, in December 2023, the US Environmental Protection Agency (EPA) announced that it was planning to regulate PVC, which could significantly impact disposal requirements.
• China accounts for almost 50-60% of the total production of PVC pipes globally. The country is the largest exporter of rigid tubes, pipes, and hoses of vinyl chloride polymers.
• According to Invest India, by 2030, more than 40% of the population is expected to live in urban areas, creating a demand for 25 million additional mid-end and affordable units. Furthermore, according to the Ministry of Housing & Urban Affairs, around 134 lakh water tap connections and 102 lakh sewer/ septage connections are provided under the AMRUT scheme.
• According to the European Council of Vinyl Manufacturers, windows, pipes, flooring, roofing membranes, and other building products use 70% of all European PVC. It is the leading plastic in the European building and construction market.
• Hence, the construction industry worldwide is expected to dominate the market. Thus, the demand for PVC stabilizers may improve during the forecast period.

Asia-Pacific to Dominate the Market

• Asia-Pacific is the leading region in the market. It is expected to dominate the PVC stabilizer market during the forecast period due to the rapid increase in demand from countries like China and India in construction, automotive, and other industries.
• PVC pipes and flooring have certain benefits, such as durability, freedom of aesthetic effects, ease of installation, cleaning, and recyclability. PVC is also used in roofing in the building and construction industries. It is used for its low maintenance requirements and long-lasting nature (over 30 years).
• The housing authorities of Hong Kong, China, have launched several measures to push the construction of low-cost housing. The officials aim to provide 301,000 public housing units in 10 years till 2030.
• In addition, Japan's construction industry has been another major consumer of PVC stabilizers in recent times.
• The country has experienced various construction projects. For instance, Mitsubishi State is constructing Japan's tallest building, which will comprise 50 luxury apartments, each of which will generate USD 43,000 per month in rent. The project is being built near the Tokyo station and will be completed by 2027.
• PVC is commonly used in under-the-hood applications, interiors, and other areas in conventional vehicles and electric vehicles in the automotive field.
• China is one of the major automotive manufacturers in the world. According to OICA, in 2023, the production of passenger vehicles in China stood at 26 million units, an increase of more than 10% compared to 2022.
• India is another major consumer of PVC in the automotive industry. Many major manufacturers have invested in automotive production to meet the rising demand. For instance, in May 2023, Maruti Suzuki India, the largest vehicle producer in India, revealed its plans to invest over USD 5.5 billion to double capacity by 2030.
• Therefore, the abovementioned factors and government support are expected to contribute to the increasing demand for the PVC stabilizer market in Asia-Pacific during the forecast period.

PVC Stabilizers Industry Overview

The PVC stabilizers market is partially fragmented by nature. The major players (not in any particular order) include Baerlocher GmbH, Adeka Corporation, Akdeniz Chemson, SONGWON, and Valtris Specialty Chemicals.

Additional Benefits:

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